Stable Coins Necessary?

[dnprock]

Having so many stable coins may be good for crypto, reason is it's always good having a number of options in case one fails you can always have another to fall back to. Moreover all of them can't be listed on every exchange so the one available on the exchange you use you make use of that one.

I think we have so many stablecoins because it's easy to create one. Companies are created for stablecoins. I don't think there's much overhead cost. Most of the cost is in marketing. The market cannot coalesce around one single coin. And that is bad. As a user, I don't know which stablecoin to use/trust. Communities cannot get big enough to support a coin.

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[sjbi]

I think it is good for having too many stable coins in the market. Having too many projects of the same kind will essentially create competition in the market, which will allow investors and traders to pick good ones from the market. Besides, stablecoins, there are many coins of the same kind in the market. So lets have more coins in the market.

[andika2018]

I think it is good for having too many stable coins in the market. Having too many projects of the same kind will essentially create competition in the market, which will allow investors and traders to pick good ones from the market. Besides, stablecoins, there are many coins of the same kind in the market. So lets have more coins in the market.

Now there are many stable coins in the market, starting with those running on the ethereum network or the BNB chain network. For traders, stable coins are needed when trading or realizing profits. In addition, stable coins are useful as a benchmark for the value of bitcoin or other altcoins because stable coins are backed up by fiat

[TastyChillySauce00]

Stablecoin is necessary specifically for traders that wants to save up their wealth so that they will not be affected by the fluctuation. Need to note that the fact which proves stablecoin grow really fast in the recent few months alone but having so many stablecoins in the market is not a bad thing either, it's a free market after all. But choosing only one that you deem really reliable is also important.

[OasisDre]

Currently seems every project or crypto company wanna create a stable coin now, except USDT, currently we have GUSD, TUSD, PAX.

But do you think it's really necessary to have so many stable coins?

Its necessary to have many stable coins in crypto space,users are the ones to chose which one they like the best,i like using usdc when trading and most time to cut short my loses i exchange my coins to stable coins, for example if price pump occurs you can quickly swap your coins to stable coin to keep the present value at a fixed price,its very useful for traders and crypto users in general

[Johnzky]

There might be a lot of stable coins in the market but that doesn't really mean they are unnecessary. Trading comes in pairs and the other half are stable coins. It is used to reduce the down fall whenever the market goes red. Libra coin might be a good one.

Another libra coin advertising huh?lol how can this be good as stable coin but centralized?no I don’t think Libra is a good investment to limit the downfall because this kind of currency can be easily manipulated so better keep off this one.i rather choose ripple rather than this

[ðºÞæ]

There might be a lot of stable coins in the market but that doesn't really mean they are unnecessary. Trading comes in pairs and the other half are stable coins. It is used to reduce the down fall whenever the market goes red. Libra coin might be a good one.

Another libra coin advertising huh?lol how can this be good as stable coin but centralized?no I don’t think Libra is a good investment to limit the downfall because this kind of currency can be easily manipulated so better keep off this one.i rather choose ripple rather than this

XRP is toast, there is an avalanche of stablecoins on the way, crypto cancer

Gram (Telegram)
Walmart
Libra
JPMorgan coin
Joe Blow Pizza coin
.......

Stablecoins are digital gift cards

[Spaffin]

In my opinion, a stable coin in the cryptocurrency market helps many traders to keep the value of their assets at the same level.  Speaking of my preferences, the USDT coin does not help me very much and therefore I do not want to look for something else.  Although now there is information that cryptocurrency users are very much configured to use the new project on Facebook.  In my opinion, Libra will lose relevance very soon, since this project will not be launched for a number of reasons.

[jarhed]

Now there are very few stable and strong coins.  Usually these are the ones in the top and the most popular.  I believe that all coins need to be analyzed and then if you can, you can trust him to invest and check in work.  No other way.

[UniversityCoin]

Stablecoin is necessary specifically for traders that wants to save up their wealth so that they will not be affected by the fluctuation. Need to note that the fact which proves stablecoin grow really fast in the recent few months alone but having so many stablecoins in the market is not a bad thing either, it's a free market after all. But choosing only one that you deem really reliable is also important.

Earlier, I also thought that in stable coins it was safe to take profits from trading, until in the fall of 2018 the USDT rate collapsed by 30% of the dollar price. Since then, I realized that there is nothing 100% reliable in the crypto market and stopped trusting stable coins.

[killat]

The dollar is audited and when dollars get printed everyone knows the Fed is doing it and will honor those treasuries. The dollar becomes debt.

With stable coins there is nothing. No one knows who prints them, they're hidden in tens of countries all over the world, no audit has ever been done.

Essentially stable coins are like counterfeit currency.

[tycsols]

Initially i was also not sure about the use and purpose of all these stablecoins but now that there is a race going on behind the scenes between many financial institutions as well some big brands and businesses to create their own stablecoin with masses use cases lile payments, shopoing, remittance, experts are now positive that in few years stablecoin market can grow huge and into trillions of dollars and the good news is that such amount of volume and money will have a very positive impact on crypto assets especially btc and eth that can become veey expensive in coming years.

[renault18turbo]

There is no doubt that stable coins are very important. At least when you want to take a vacation and you want your money to be safe

[Belianez]

When new coins are created every month , I do not see any feature in them , except that they have very little liquidity , I have always used the usdt and will use.

[confreslamp]

Yes, but not such a variety. I would be grateful if we would have only one or two trusted stable coins, because Tether is untrusted, USDC or USDT are pretty young in my opinion and are not listed everywhere, so it is very difficult to decide which one you would use.

[Dannev]

It is very necessary to have stable coins if only they can maintain that name stable in the real sense of it. The problem is not up and coming with stable coins but the ability to really deliver on the use case of the project. There are so many so called stable coins in the market that the prices or workability of their products is nothing to write home about.

[Tccrypto]

Stable coins are really necessary in terms of hedging against a downward trend. Stablecoins help to protect investors or traders from losing funds in a bear market. The necessity of stablecoins cannot be overemphasised because it is very helpful in trading and staying afloat in a manipulative market.

[akungagal]

There is no doubt that stable coins are very important. At least when you want to take a vacation and you want your money to be safe

yeah, stable coins are indeed the right choice if we want to take a vacation.
some people do not like stable coins because the benefits are very little even though it has been stored for a long time. but for some others stable coins are quite useful as a place to store money temporarily.

[VIP BTC]

I think stable coins are needed in the world of Cryptocurrency, to maintain the balance of other coins, stable coins can be a temporary medium of exchange before we actually invest in cryptocurrency or become temporary deposits of our money in Crypto form, because stable coins usually don't experience price volatility, so your money will remain safe.

[motun01]

In the present cryptocurrency market where it is practically impossible to predict the way the market trends will go, Stable coins are advantageous when utilizing cryptocurrencymies and especially for the traders. Consequently, I am agreeable to having a greater amount of them, so that there is a decision, and there is some sort of rivalry between them. For the present we will pick which coins will be popular, they will remain.