The use of stable coins or no?

[kanayaTabitha]

On the other day, I think of the use of stable coins. I mean, when can we use Stable coins as an alternative fiat. You see when a bull run comes and everyone will start to sell their Bitcoins and some other coins into fiat the network will be congested.

So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?

I think yes, the creation of those stable altcoin is to generalize the fiat money for around the world because many countries have each different fiat money. So, with same stable altcoin people can trade fiat between countries and exchanges so it will make people are easily to buy fiat when they think the market is not in a good condition for them to trade.

[BartS]

On the other day, I think of the use of stable coins. I mean, when can we use Stable coins as an alternative fiat. You see when a bull run comes and everyone will start to sell their Bitcoins and some other coins into fiat the network will be congested.

So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?

That is the reason for those coins to exist, selling for fiat was a slow process and if the amount you were selling was too high then your account could be blocked by banks.

Stable coins allows you to sell your bitcoin or altcoins and lock your profits in a very short amount of time, and in a market where the price can change drastically in minutes stable coins perform a very needed function, so despite of what you may hear about those coins they are a nice addition to this market.

[Getmon]

On the other day, I think of the use of stable coins. I mean, when can we use Stable coins as an alternative fiat. You see when a bull run comes and everyone will start to sell their Bitcoins and some other coins into fiat the network will be congested.

So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?

This is already in use this way. A lot of account owners of trading platforms for example are not allowed to move USD from and into their exchange accounts and so they are using stablecoins like USDT instead. There are certain reasons why stablecoins like USDT have a high volume, in fact the highest if I am not mistaken, considering this situation among others.

[llecrf]

On the other day, I think of the use of stable coins. I mean, when can we use Stable coins as an alternative fiat. You see when a bull run comes and everyone will start to sell their Bitcoins and some other coins into fiat the network will be congested.

So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?

The existence of stable coins is only to get convenience when we get profit from trading results, if we use fiat currency, it will incur additional costs to convert from Bitcoin to fiat, stable coins can be used at any time without worrying about the price going down and we can use it without worrying

[oktana]

stable coins with stable volumes do not guarantee smooth transactions, usdt uses erc-20, and a few months ago experienced a network disruption worse than the same thing experienced by bitcoin. effect on the Gas increase option needed to cut the waiting time and transaction duration can be more than 1 day at that time. even so I still make it a favorite coin compared to other stable coins.

[Wysi]

On the other day, I think of the use of stable coins. I mean, when can we use Stable coins as an alternative fiat. You see when a bull run comes and everyone will start to sell their Bitcoins and some other coins into fiat the network will be congested.

So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?

The existence of stable coins is only to get convenience when we get profit from trading results, if we use fiat currency, it will incur additional costs to convert from Bitcoin to fiat, stable coins can be used at any time without worrying about the price going down and we can use it without worrying

Yes that's the main reason why stable coins are I vented and even I use it for the same purpose because there are days when we earn good profit through trading with any crypto Hut we know that the price will dump again then we convert it to stable coins like USDT to retain the profit value instead of losing it. 

[Finestream]

Stable coins are very helpful, actually its good that we are seeing an increase of number of stable coins now.
We convert our bitcoin or any altcoins to stable coins if we are doubtful on its stability, when there is a bull run or the dump, you can also use stable coins to hedge your money from volatility, but it should be done properly, you should have a proper plan doing it.

Cashing out stable coin is not a problem, once the market began to stabilize, you can see it for btc then you can cash it out through usdc or whatever currency in the market that would allow you to covert your btc into fiat.

[kogozer714]

there are many stable coins circulating in the market but there are still many users who use stable USDT coins, some of their crypto markets use BTC, ETH and USDT exchanges, I think that is a fiat alternative.

[Moore234]

The use of stable coins has it's own advantages. It's helpful when market is unstable and you are not sure of the market. I specifically I exchange my assets to stable coin when I see a dip or unsure about the market. Stable coin is very convenient if the market seems to be bearish

[zabir.brutov]

I do not see any use in stable coins, besides keeping the money on exchanges while searching for a market entry point. Besides, the most stable coins are regulated and are backed only by a certain percentage and not in full amount.

[X-ray]

I do not see any use in stable coins, besides keeping the money on exchanges while searching for a market entry point. Besides, the most stable coins are regulated and are backed only by a certain percentage and not in full amount.

Totally wrong, stablecoin backed by funds reserved by the company behind that project with ratio of 1:1 and usually being reviewed by the authority. The sole purpose of this coin is to keep the value of your asset and nothing more. Regulation toward stablecoin is inevitable because it is essentially a centralized coin and if they are backing the coin using dollar then they need to obey the rules.

[barnes13]

I do not see any use in stable coins, besides keeping the money on exchanges while searching for a market entry point. Besides, the most stable coins are regulated and are backed only by a certain percentage and not in full amount.

Besides that function, stable coins are also suitable for online payment instruments. At present we see a lot of shops that provide payment through crypto currencies that don't have a stable value, of course it has an impact if the network is slow. Prices change quickly but transaction speeds cannot match that.

[Xcode7]

I do not see any use in stable coins, besides keeping the money on exchanges while searching for a market entry point. Besides, the most stable coins are regulated and are backed only by a certain percentage and not in full amount.

Besides that function, stable coins are also suitable for online payment instruments. At present we see a lot of shops that provide payment through crypto currencies that don't have a stable value, of course it has an impact if the network is slow. Prices change quickly but transaction speeds cannot match that.

the use of stable coins I think can also be used in online stores, purchasing goods with stable crypto is better in my opinion. as you said that when using a coin which stability is less profitable, people will think twice about making payments with it plus a large fee when using btc payments

[deodivine1]

The use of stable coins has it's own advantages. It's helpful when market is unstable and you are not sure of the market. I specifically I exchange my assets to stable coin when I see a dip or unsure about the market. Stable coin is very convenient if the market seems to be bearish

It's old news to emphasize  the importance of stable coins especially to traders. Infact, most short term trades I do recently are on USDT  pairs looking at the dwindling market situation, even though I convert most of my holdings to BTC when I analyse and perceive an incoming uptrend.
 

[adaseb]

I do not see any use in stable coins, besides keeping the money on exchanges while searching for a market entry point. Besides, the most stable coins are regulated and are backed only by a certain percentage and not in full amount.

Actually you don't need to keep stablecoins on exchanges. Keep in mind that Tether is on the OMNI network which is basically the bitcoin blockchain and the ETH network which runs under the ERC20 network. So you can actually keep it in your wallet on your computer.

This is important because you can actually keep your stablecoins on cold storage. For ETH ERC20 stablecoins you can use a Trezor and for Bitcoin OMNI network Tether you can use the Armory cold storage option and you won't need to worry about them getting stolen like your crypto.

Another good thing about Tether is that you can lend it out on Bitfinex or Binanace and get like 10% interest per year. There is no bank that will ever give you an interest rate that high so its another pro of stablecoins.

[BartS]

The use of stable coins has it's own advantages. It's helpful when market is unstable and you are not sure of the market. I specifically I exchange my assets to stable coin when I see a dip or unsure about the market. Stable coin is very convenient if the market seems to be bearish

When we are in the middle of a bear market that is when stable coins really show their potential because they allow you to get out of the market of cryptocurrencies for a very low fee and it protects your capital from the volatility of the market.

But we must also understand that there is a huge risk if you decide to hold stable coins for a very long time, you are relying on a centralized institution to not lie about the amount of coins that they have in storage and if at some point it is discovered they lied the price of the coin could not be stable anymore.

[bison]

The use of stable coins has it's own advantages. It's helpful when market is unstable and you are not sure of the market. I specifically I exchange my assets to stable coin when I see a dip or unsure about the market. Stable coin is very convenient if the market seems to be bearish

When we are in the middle of a bear market that is when stable coins really show their potential because they allow you to get out of the market of cryptocurrencies for a very low fee and it protects your capital from the volatility of the market.

But we must also understand that there is a huge risk if you decide to hold stable coins for a very long time, you are relying on a centralized institution to not lie about the amount of coins that they have in storage and if at some point it is discovered they lied the price of the coin could not be stable anymore.

because I am a daily trader I feel greatly helped by the presence of a stable asset. the most frequently I use is USDT because most are already listed on many exchanges. indeed some new exchanges do not use the USDT pair and focus more on crypto. but USDT and other stable assets are very helpful for us traders.

[JeffBrad12]

I do not see any use in stable coins, besides keeping the money on exchanges while searching for a market entry point. Besides, the most stable coins are regulated and are backed only by a certain percentage and not in full amount.

Besides that function, stable coins are also suitable for online payment instruments. At present we see a lot of shops that provide payment through crypto currencies that don't have a stable value, of course it has an impact if the network is slow. Prices change quickly but transaction speeds cannot match that.

the use of stable coins I think can also be used in online stores, purchasing goods with stable crypto is better in my opinion. as you said that when using a coin which stability is less profitable, people will think twice about making payments with it plus a large fee when using btc payments

It's probably the regulation that makes that impossible considering that the funds to back up all these stablecoins are issued by the government so the government could lay hand to any stable coin company although I dont really sure. The stability of a stablecoin is indeed something most suitable to be used for the means of payment method but until today I can't see the adoption anywhere else maybe there's some reason behind this since the adoption of a stablecoin should be no brainer because it is practical.

[Blackdeath]

On the other day, I think of the use of stable coins. I mean, when can we use Stable coins as an alternative fiat. You see when a bull run comes and everyone will start to sell their Bitcoins and some other coins into fiat the network will be congested.

So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?

Honestly, i never have tried using stable coins like USDT because stable coins are not profitable like bitcoin and other altcoin. Stable coins are only good for making online transactions and storing your funds when we are at the middle of the bear market, that is why you don't have to worry too much when the market is down. I think it will be much better if we just used fiat than stable coins because they are almost the same.

[BartS]

The use of stable coins has it's own advantages. It's helpful when market is unstable and you are not sure of the market. I specifically I exchange my assets to stable coin when I see a dip or unsure about the market. Stable coin is very convenient if the market seems to be bearish

When we are in the middle of a bear market that is when stable coins really show their potential because they allow you to get out of the market of cryptocurrencies for a very low fee and it protects your capital from the volatility of the market.

But we must also understand that there is a huge risk if you decide to hold stable coins for a very long time, you are relying on a centralized institution to not lie about the amount of coins that they have in storage and if at some point it is discovered they lied the price of the coin could not be stable anymore.

because I am a daily trader I feel greatly helped by the presence of a stable asset. the most frequently I use is USDT because most are already listed on many exchanges. indeed some new exchanges do not use the USDT pair and focus more on crypto. but USDT and other stable assets are very helpful for us traders.

There are many out there that do not like stable coins but they are very useful regardless if you are a trader or an investor, for an investor stable coins are of great help since they can protect you when the market is going down and you do not want to face the the bear market.

And if you are a trader stable coins can help you when the volatility of the market is too high and you prefer to wait until it passes and we can see an example of this today, with the market going down it is better to get stable coins until you think the price has a chance to recover.