Stable Coins Necessary?

[braves182]

I cannot say that stable coins is a necessity, it's rather a convenience for those who are engaged in trading. And for people who invest in the long term, I wouldn't recommend to hold their assets in these coins. The risks of an unexpected scam are no less than those of other crypto assets. It's not the same as keeping money in euros or dollars in your Bank account.

[jonruhoax]

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?

nothing is stable in the crypto industry, I think everything is centered on bitcoin.
and if there are several alt that can compete with bitcoin. in other words the market will be more independent

[iljamlnk]

Stability in the short term is important for the convenience of transactions, and in the long term for the use of cryptocurrency as a store of value.

[nak02]

Well, those steady coins are to be in market or some project that have valuating the price of their products, it will be maintain the price and no one will be loss.

[hanxinvwang]

When the traditional industry begins to transform to the blockchain and crypto, you will see a lot of stable coins like USDT. Now, in addition to usdt, there are GUSD, TUSD, there will be more in the future. In the long run, more stable coins appearance is conducive to stabilizing the price of crytpo, inhibiting excessive speculation.

[residivis]

very much needed because I think at this time it requires stability in crypto currencies to get income every day in the trade. so I think it will increase the number of investors in this crypto currency.

[aces777]

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?

It is not really necessary, having stable coins is not going to make more people use the coins more, they are not going to keep using the coins as currencies, people want to be  able to make money from investing in the coins and if they coins are not volatile enough for them to be able to move higher in price then there is no potential to make money from it

[Everglow]

Of course it is necessary. Investors need more than a stable coin (USDT) to shelter whenever market fluctuations occur. And more stable coin means the market is no longer manipulated by tether.

[mapsi]

Yeah stable coins necessary in that market. You know too many exchanges dont have any cash option so they can easily use stable coins for that and we can use these stable coins like a fiat and we can send these stable coins easily to other exchange wallets. I love stable coins and using it.

[Jrfranco]

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?

Stable coin could help the crypto community from possible bad market condition and also from their investments in other alts, the good thing about this stable coin is that, it allows the community to invest more of it, as long as the price of this coin is constantly stabilized, it drives more users to use and invest in it.

[Red-Apple]

as long as the stable coins are centralized and not really stable, we do not need them so saying they are necessary is foolish. they certainly fulfill some of the needs of altcoin traders these days but the risk is high enough to make everyone think twice.

in my opinion as long as we can not come up with a stable coin concept that is truly stable and also decentralized we will not see any proper coin.

[mistersehmuz]

I think they are necessary because it is still hard to withdraw our balance from exchange to bank accounts. But the number of stable coins, I think, should not be too much. 10 stable coins are enough for the current market cap.

[apitico]

I think that some really stable coins will not hurt, but unfortunately really stable coins, even those which are presented on this side, in fact they are not.

[setelogia]

Doesn't the very number of stable coin startups prove that the coins are necessary? There are over 160 of them now!
But if we look at BTC to USD price chart, we see that price fluctuations are becoming less and less strong. It will be funny if BTC and other cryptos soon get rid of their crazy volatility and make stable coins obsolete

[irixo10]

Of course it is necessary. Investors need more than a stable coin (USDT) to shelter whenever market fluctuations occur. And more stable coin means the market is no longer manipulated by tether.

I very much agree with your opinion. USDT has manipulated the market for too long and it makes us depend on it too much. Now that there are a lot of different stablecoins and that gives us more options, the market is definitely going to be a lot better now

[qiman]

STABLE coins are mainly for day traders who want to dump their coins into ma stable coin fast if they see a down trend, so I guess for the day traders it is a safe haven to park their funds and that is how they lock in their profits whilst still being in the market as opposed to exchanging to fiat then back again through external means. This also helps the whales preserve their funds on exchanges in case they want to re enter Bitcoin and the Crypto market, without going through a bank.

[Rati24]

In fact, there are even more coins than you have indicated in this list almost every exchange now has its own stable coin. It can be good for traders as it doesn’t have to bring everything to fiat, but in the long run it can have a bad effect because it is not known whether the coin is backed up with real money.

[jakiro.hovard]

If viewed from the point of view of traders, then of course stable coins are very necessary, because it happens as it did in 2018 when people should have fixed their profits, but most did not believe in the USDT and lost 10 times more.

[felissss500@gmail.com]

it is possible that competition will do a good job, and the most viable coin will survive and the most stable and will "eat" its counterparts
the existence of many such coins has no sense, I think that two or +/- 1 is enough

[kknop]

how about using stable coin as a fiat to crypto gateway? anybody has some experience?