The use of stable coins or no?

[Govorrrue]

Good evening mate. Yeah, pretty similarly. And no doubt, that analysis is required. But to be honest, there are not many platforms that bring the value you've mentioned. And this is exactly why analysis is essential

Exactly. I would say that I am only having 2 most attractive solutions I follow. Other don't simply meet my requirements

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[volporg]

Exactly. I would say that I am only having 2 most attractive solutions I follow. Other don't simply meet my requirements

What are the ones? Or well, the most advanced from these 2. Can you share? Interested to compare with whether it meets my requirements

[Tylev]

I'm not sure I'm getting your post. It's already an alternative to fiat, isn't it? I mean 1 USDT for example is supposed to be 1 USD and it's easily convertible to physical cash.

You haven't got what I said. Ok, you see when a bull run comes then the price of the bitcoins will suddenly skyrocket when it reaches its full price, most of the holders will sell their bitcoins simultaneously. on that time, the network will be congested if you convert your bitcoins into fiat. so as an alternative, you have an option to sell it into stable coins then sell it later to fiat. did you get it now?

I don’t understand something. Why buy stable coins now and expect the cryptocurrency market to grow? After all, when the time comes to sell bitcoins and exchange them first for stable coins, regardless of whether your wallets have stable coins, they will still need to be bought when selling bitcoins. In addition, I do not think that there will be a problem with the purchase of stable coins. Now it is stable coins that grow and develop. If China and the USA still issue their national stable coins, they will enjoy the trust of people and there should be no problems with their purchase.

[Crypto5060]

Maybe you could explain your post further. People buy stablecoin for a number of reason, some prefer to trade other coins against stable coins than against fellow coins. Some want to hold stable coin pending when they are willing to invest in another coin, and so on.

[Govorrrue]

What are the ones? Or well, the most advanced from these 2. Can you share? Interested to compare with whether it meets my requirements

Yeah, of course.The most advanced and interesting solution these days for me is Verasity with their VRA token. They are having incredible high trading volume on Binance DEX, so they are favorites in Binance Community Listing program, where people choosing tokens that will be listed on Binance. Of course, requirements of Binance must be met, and Verasity meets them, being in very high demand these days. And what is also important - they are coming with a fully working platform that is used by more than 700k people already

[volporg]

Yeah, of course.The most advanced and interesting solution these days for me is Verasity with their VRA token. They are having incredible high trading volume on Binance DEX, so they are favorites in Binance Community Listing program, where people choosing tokens that will be listed on Binance. Of course, requirements of Binance must be met, and Verasity meets them, being in very high demand these days. And what is also important - they are coming with a fully working platform that is used by more than 700k people already

Wow, insane. You know, it seems that I have already heard of Verasity, but you've impressed me a lot, so I will have a closer look at what the guys are offering. Thank you very much for your recommendation

[zhengqi]

Of course you can use stable coins.  I use them very actively, this is a useful rule. I also believe that stable coins is one of the best inventions.

[minairia3]

Yes, in my opinion it can be a good alternative. Stable coins are widely used by traders and investors to maintain the value of their assets when the crypto price is being hit by bear season. And they will use it to buy at the right time. Besides that, stable coins also have their own advantages because they have used blockchain technology as their base.

I think that's served its purpose as stablecoin, many country have release their own or exchange open it for their convenient such as rubble, China Yuan, Yen, and different that has been introduced. I think this introduced to lessen the hassle of people from country that is very strict to cash in or cash out it's money for crypto and vice versa.

[huu78]

Stablecoin is an alternative to all market problems being bad or not. If when this massive stable coin dump occurs it will stabilize according to the real currency.
Neither is the good stablecoin for the transaction so that the price does not go down as the transaction is unfinished. So alternatives can be very welcome.

[Sithara007]

I'm not sure I'm getting your post. It's already an alternative to fiat, isn't it? I mean 1 USDT for example is supposed to be 1 USD and it's easily convertible to physical cash.

You haven't got what I said. Ok, you see when a bull run comes then the price of the bitcoins will suddenly skyrocket when it reaches its full price, most of the holders will sell their bitcoins simultaneously. on that time, the network will be congested if you convert your bitcoins into fiat. so as an alternative, you have an option to sell it into stable coins then sell it later to fiat. did you get it now?

Still the point is not clear. Even if you convert your Bitcoin to stablecoins such as USDT or USDC, the coins needs to be moved and it will add to the network congestion. So what difference it makes, whether I sell my coins to fiat currency, or to stablecoins? On the other hand, the step which you had proposed will add additional effort and waste our valuable time. On top of that, you need to pay the exchange fee multiple times. There is also an additional risk factor of storing the stablecoin in the exchanges for extended periods of time.

[Ifezanku]

I actually don't think of any use of stable coin than hedging. Also I do use it to keep the money that I want to spend in a month and the reason for this is because of its stability. Stablecoin is meant to protect our assets from volatility and I think this is what many of us use it for

[auntyjmary]

The use of a stablecoin is a good way to make payment anytime. It is always a painful experience to see the price of your coins falling while you are away from cryptocurrencies for awhile. I guess the right approach has always been to switch to a stable cryptocurrency, Stablecoins has always been a  good alternative for individuals who are not very active on the crypto market.

[CarnagexD]

I'm not sure I'm getting your post. It's already an alternative to fiat, isn't it? I mean 1 USDT for example is supposed to be 1 USD and it's easily convertible to physical cash.

You haven't got what I said. Ok, you see when a bull run comes then the price of the bitcoins will suddenly skyrocket when it reaches its full price, most of the holders will sell their bitcoins simultaneously. on that time, the network will be congested if you convert your bitcoins into fiat. so as an alternative, you have an option to sell it into stable coins then sell it later to fiat. did you get it now?

Still the point is not clear. Even if you convert your Bitcoin to stablecoins such as USDT or USDC, the coins needs to be moved and it will add to the network congestion. So what difference it makes, whether I sell my coins to fiat currency, or to stablecoins? On the other hand, the step which you had proposed will add additional effort and waste our valuable time. On top of that, you need to pay the exchange fee multiple times. There is also an additional risk factor of storing the stablecoin in the exchanges for extended periods of time.

What he has said will cost a lot of time, effort and money. Maybe he's losing his point, If I were a trader and sold my bitcoins for good and want to taste it, why would I buy stable coin? If I can directly convert it to fiat. I will just suffer from transaction fees I have to pay If I do that, in your suggested direction. Stable coins are good for providing exit and entry point without converting to fiat.Talking about network traffic is a waste of time dude, it could handle thousands or even a million of transaction in a minute, you don't have to reason that out. I think he's just messing with you man.

[RussiaUkraineTranslation]

CBDCs will make stablecoins obsolete.

[bonyaserg]

Personally, I chose that the most stable coin is Ethereum. Since I always invest free money in this promising coin. And if you suddenly need money, I sell Ethereum and always have a good profit. So for me, Ethereum is a very stable coin. Since this coin is an excellent income and investment.

[kostepanych2]

I don't trust stable coins...
I think they can turn into scam in every moment. Also, governments may want to kill them...
So I think, stable coins can be used only for short-term holdings.
But I hope, they will be much more reliable in future and we will be able to use them like fiat currency...

[btcdie]

I don't trust stable coins...
I think they can turn into scam in every moment. Also, governments may want to kill them...
So I think, stable coins can be used only for short-term holdings.
But I hope, they will be much more reliable in future and we will be able to use them like fiat currency...

as you thought, stable coins can also turn into fraud. the beginning of the creation of a stable coin must really be real, like 1 Tether = there must be real fiat money worth $ 1 USD or like 1 stable coin = one gram of gold. People could run away later, like bubbles (exploding and disappearing). one of the functions of a stable coin is to save assets when the market trend is down and handle it, like the current example BTC -10%.

Not too hopeful with a stable coin, I think paypal is quite useful. it's just that stable coins are very helpful for traders.

[mirgo1791]

users of  customs with product and service  from blockchain developer might defines of one with decision on managing business as applying selection to use of token on tasks with exchange and gains with benefit as appealing works on manage with the task on accounting.


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ether redcoin sa keneke

[BartS]

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.

The very essence of stablecoin is for the sole purpose of saving wealth from the massive volatility and fluctuation and there's definitely nothing wrong with that. it just acts as a digitalized version of USD and that's a lot better option that directly convert to USD which involves a lot of complication however the problem is if the company have the absolute authority over their coin and as a result they could print money out of thin air while there's no addition to the reserved fund without the public knowing just like happened back in the past and that's a disaster.

That is definitely a problem, stable coins require that we trust the entity releasing their coins and that they are backing each one of their tokens with one dollar or whatever fiat currency they are using.

And many do not like this because those coins are basically the cryptocurrency version of fiat and we need to trust a centralized institution to not deceive us, but despite all the points against it we cannot deny their usefulness and they have helped this market to grow faster than what it could have happened without them.

[shaheer001]

Stable coins are a great entry in crypto trading platforms as these stable coins always save you from a big loss and when you realize market going up then you can convert with crypto coins as per the platform trading altcoins.