Stable Coins Necessary?

[makerst]

From the point of view of asset preservation, they are not just necessary, without them it is simply impossible to save your savings if you do not have stable tokens that can be provided by the US dollar, but I think that everything is not as simple as it seems.

[1714173641]

1714173641

[enhu]

It would be harder to trade without stable coins like USDT. Stable coin is a good tool for traders to make money. When the bear market started, a lot of the people moving their coins to stable coin to keep the value of their money before buying a coin again.

Its not going to be a questions whether its necessary, you can trader without it but then stablecoin is a good tool which is why JPM created one of their own stable coin.

[Petchant]

Stable coins are essential if any project want to go to mainstream. I think it will be good if any project with mass adoption interest create a dual-coin platform with the stable coin acting as hedge coin to edge against the instability of the second coin

[TrevorS]

Unfortunately, in a cryptocurrency, any project may unexpectedly end its existence. Obviously, we need several really strong stable Coin to have at least some stable base on the market.

[jumiapaul]

One of the greatest challenges of cryptocurrency is price volatility. This has made so many persons opinion about cryptocurrency biased. Most people confuse the crypto sphere to be a gambling or ponzi scheme and this has been a set back. With the invention of stablecoin, cryptocurrency will be almost similar to fiat and this will increase the chances of massive adoption.

[ameliana]

Unfortunately, in a cryptocurrency, any project may unexpectedly end its existence. Obviously, we need several really strong stable Coin to have at least some stable base on the market.

we really need it except I think if too many coins are stable then it can make the market difficult to develop because investors feel comfortable and safe having stable coins.
so I think stable coins have balanced advantages and disadvantages.

[d_fitrie]

of course, stable coins are needed for exchanges from other altcoins with the aim of reducing losses if the market declines. Stable coins are available in almost all exchanges

[Bim abk]

Unfortunately, in a cryptocurrency, any project may unexpectedly end its existence. Obviously, we need several really strong stable Coin to have at least some stable base on the market.

we really need it except I think if too many coins are stable then it can make the market difficult to develop because investors feel comfortable and safe having stable coins.
so I think stable coins have balanced advantages and disadvantages.

maybe in my opinion it would be very difficult if there was a steady stable coin and maybe there would be less investor interest to invest. I think compared to buying stable coins it's better to secure funds in the form of USD or other currencies

[Ifychuks]

Can you Cleary state beyond doubts which coins you refer to as stable coins. To me, I do not consider y coin stable in terms of the meaning of that word stable because all have fluctuations in value once in a while.

[superstarbtc]

stable coins are necessary most of the financial institutions use to keep their assets encrypted in the blockchain this year we may see more stable coins

[vanya.pronin.1983]

Yes, I believe that such coins are pretty helpful. If I want to sell my coins and want them to stay in this industry, I am buying stable coins to keep them ready to buy more altcoins in the future,  when I want to do it.

[letyouearn]

I don't quite understand what's the point of all these USDT clones... That looks useless and funny for me
And also I don't understand why all these stable coins appeared only now, and there was only one such coin - USDT - for a quite long period of time.

[zhekinsp]

Stable coins are scams,you are going to lose money by trusting that they are stable cojns because literally they are not stable coins they were just backed by nothing.

[Mmesooma1]

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?

If all can truly remain stable then I will be glad to have them all. Cryptocurency volatility has made the market too distasteful for investors. So we need a more stable market

[Xalata]

Having stable cryptocurrencies is really a good idea because the crypto market is very volatile and converting your funds into stable cryptocurrencies can absorb some of the shocks of dump in cryptocurrencies. But one should also note that in case you convert your funds to stable coins you will miss out on increase in funds when there is a pump in the crypto market.

[AgentZero23]

We already have many stable coins and it is necessary to have a stable digital asset. Stable coins are now very important considering we are in bear market. Investors convert their eth or btc to TUSD or USDT to avoid further loses.

[bountylayomi]

Stable Coins are good to invest on and to hodl. I heard a new project called WPP is to become a stable coin. If it does, I will invest on it as well.

[GhostWithin]

We already have many stable coins and it is necessary to have a stable digital asset. Stable coins are now very important considering we are in bear market. Investors convert their eth or btc to TUSD or USDT to avoid further loses.

While the activity of a regular user who buys even a relatively small amount of coins is carefully studied, tokens issuers can enjoy much greater freedom in manipulations

In the absence of trade restrictions, bots and fake orders, this can affect both the entire niche and large exchanges.

[SinLinJim]

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?

A lot of them is not necessary, but the variety will not be superfluous, it is insurance in case something happens to one of the coins(hacking, fraud), it is better to lose some of the means than all

[smoolae]

I personally never have been a big fan of stable coins. I admit that they have their place and point in the system but I also think that a lot of claims they make are not real. Personally, I think that the "backed by 1 to 1 USD" claim isn't 100% true. One should use stable coins only during flash crashes and other times when a coin like this is the best way to transfer funds.