do we really need stable coin?

[tsaroz]

think if we should look back in 4 years back in cryptocurrency industry, crypto do very well to be stable in the price value, but is very difficult this days to see crypto that's actually valueable, not until we started seen stable coins in the crypto market but there's no change in the value, Do you think we need stable coins?

There are many advantages of introduction of stable coins in the crypto market. Stable coin is not only a powerful tool for crypto traders who make profit on price fluctuation but also a system to reduce crypto price volatility. Prices of crypto has been less volatile after the popularity of stable coin. The current price trend is an example of it's action.

[Stanlo]

I am a full time crypto trader and I trade using Bitcoin/usdt coins and trading pair, most times I keep USD in stable coins and wait for a perfect time to buy back some satoshis, this is the fastest way to double your Bitcoin, usdt and other stable coins are very useful in volatility market

[bittick]

Of course, we need stable coins to insure the risks of trading. If stable coins do not exist then people will not be able to exit the position in time and will lose their money

They can't secure their money. I remember this has become a big problem in the past when so many people were looking for the thing to solve the volatility problem. Stable coin is really needed by anyone right now and Im also using it right now.

[Tipstar]

I am a full time crypto trader and I trade using Bitcoin/usdt coins and trading pair, most times I keep USD in stable coins and wait for a perfect time to buy back some satoshis, this is the fastest way to double your Bitcoin, usdt and other stable coins are very useful in volatility market

Most of the traders do the same. I'm not an active trader still I managed to sell 10% of my holding at 11999 today and am waiting to a market movement to decide another buy. I'd wait if the market still falls but would buy anywhere below 11300 if the price starts to move up. This simple grid trading strategy is effective if you are taking fiat as your initial investment.

[thesmallgod]

stablecoin are not created in order to make the crypto market less volatile but to reduce loss because we know crypto is highly volatile. However, stablecoin pair has grown to become pairs that are highly traded. This is to let you know that people want to make a stable profits from trading. Not like before that when you make profit trading coin, the volatility affect the price and all your profit amount to nothing. The only issue we should be worried about is how reliable and sustainable are these stablecoins ?

[Kupid002]

I am a full time crypto trader and I trade using Bitcoin/usdt coins and trading pair, most times I keep USD in stable coins and wait for a perfect time to buy back some satoshis, this is the fastest way to double your Bitcoin, usdt and other stable coins are very useful in volatility market

This is also I want to say its very helpful for regular traders that use that currency every time they want to take profit.

You will not earn money having USDT or other stable coins but using it for trade pair is very big help for traders and many people prefer using that in exchange than other crypto currency trade pair.

[key4co.in]

stablecoins are really useful in this market that is always volatile, you can keep your assets safe at stablecoins, useful in buying and selling very large because their value is not lost, and traders need stablecoin.

Anyone who sees negativity in stablecoins is not a real trader. The crypto market is highly volatile and wise traders lock profit in stable coins. Some even hold stablecoins to take advantage of the market during massive dips, which is a nice concept. Aside the legal issues faced by Tether (USDT) founders now and then, I don't see any negative concerns for stablecoins.

[Jawhead999]

Yes, we really do need stable coins because stable coins help us during the volatile market. It's a kinda safe haven when BTC is dumping/pumping like crazy because whenever BTC pumps or dumps hard all alts suffer.

BTC pump and dump like crazy huh? The real crazy from pump and dump scheme is altcoins!

Now BTC get minor dump in the last 24 hours (-3,88%), while HedgeTrade gain major pump for +32.18% in the last 24 hours. Changing +30%/day? it's crazy shitcoin. I believe tomorrow this shitcoin will get major dump.

Stable coin is a life safer from unstable crypto market, it's best way to keep your coins locked at a fixed price or stable price, it's a perfect safe haven from volatility, only those who don't understand what stable coins do will talk against stable coin

Whats? You said a centralized coin who can be frozen anytime a perfect safe haven? You need to study more dude.

The most safe stable coin is only DAI, since it's decentralized and can't be frozen.

Read : [UPDATED] PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets

[wmaurik]

I rarely use stable coins, but those coins are sometimes needed as a safeguard of assets because when it is bearish at the beginning of 2019 I use Stablecoin for a while to secure the portfolio and the results are quite good, and also sometimes Stablecoin is often used to participate in projects that hold crowdfunding because of they accept some cryptocurrency among them certainly is stable coin, especially for USDT & USDC.

[Argoo]

When stablecoins first appeared, there were a lot of negative and conflicting opinions about them. I have now re-read all the comments here, there is not a single negative comment about stablecoins. Everyone recognizes that stablecoins are a good and necessary tool for trading cryptocurrency and, in general, in all cases, a good gateway between the common currency of states and cryptocurrency.
In what follows, we will only be forced to distinguish between different types of stablecoins. For example, by the form of ownership: private, various kinds of commercial, state (that is, stable coins of their central banks), regional (stable coins of several states) and others. We will choose in terms of their reliability, practicality, liquidity, and safe use.

[TopT3ns]

stablecoins are really useful in this market that is always volatile, you can keep your assets safe at stablecoins, useful in buying and selling very large because their value is not lost, and traders need stablecoin.

Anyone who sees negativity in stablecoins is not a real trader. The crypto market is highly volatile and wise traders lock profit in stable coins. Some even hold stablecoins to take advantage of the market during massive dips, which is a nice concept. Aside the legal issues faced by Tether (USDT) founders now and then, I don't see any negative concerns for stablecoins.

at the moment I see that the products of the USDT are not too much of a concern just because the legality constraints of the government are not overly thought because so far as I know any digital currency or cryptocurrency that uses blockchain technology, the government will not be able to control it in any way, the movement of the coin depends from the owner himself.

[bastian466]

Stable coin is a life safer from unstable crypto market, it's best way to keep your coins locked at a fixed price or stable price, it's a perfect safe haven from volatility, only those who don't understand what stable coins do will talk against stable coin

 Yes it is very safe for temporary storage but in my opinion it is less attractive if for daily trading or long term because of its movements but on the other hand it is also very safe if trading in a stable coin because the up and down movements will not be far so as to reduce the amount of loss

[Kvalentine]

think if we should look back in 4 years back in cryptocurrency industry, crypto do very well to be stable in the price value, but is very difficult this days to see crypto that's actually valueable, not until we started seen stable coins in the crypto market but there's no change in the value, Do you think we need stable coins?

Stable coin is necessary for traders and holders too, you can use stable coins to keep USD in your wallet for long time and when Bitcoin goes down like it did in March 2020 all the way down to 3600$ it's always a good time to buy back using stable coin

[Sulman326]

The extremely strong growth in the number & capitalization of stable coins has recently reaffirmed their importance and importance to the crypto ecosystem at the present time. They are both a bridge that connects the traditional economy with crypto, and a haven for assets at a time of high market volatility. PayPal & Visa also started researching and accepting crypto, starting with stable coins instead of Bitcoin or ETH
There is probably no need to be more skeptical: for the time being, we need stable coins.

[naikturun]

of course, do you want to see your money go down when the market goes down and there is no option but to exchange it for fiat then trade it back and buy when the market starts to improve, it will be very troublesome and time-consuming.
that's what the coin stable is for. You don't need to exchange your crypto for the original fiat when you don't want to trade.

[pixie85]

stablecoins are really useful in this market that is always volatile, you can keep your assets safe at stablecoins, useful in buying and selling very large because their value is not lost, and traders need stablecoin.

The stable coin can be a very good option for those who wanna try to avoid the volatility, stable coin can also be used as a stable payment system too that the merchant will not feel worry about the possibility to get a loses due to the volatility.

But why wouldn't those people choose fiat money that are as stable as stablecoins but also backed by the government?

Most stablecoins are backed by promises and some are even backed by lies (usdt).

My opinion is that stablecoins can be useful by people who are not allowed to trade coins for fiat money or want to avoid taxation by exchanging to another coin instaed of fiat money but that's it. Don't ever trust stablecoin or treat them like an investment.

[marilynmanson21]

Yes we do, we are really need stable coin for a reason. Stable coin are needed especially in a condition when Bitcoin and Altcoin are dumping, which is it will letting us to save our assets by selling it by fiat pair, and we can rebuy again when we feel the price of our assets before already reach the bottom, or atleast gradually buying it again little by little while it rised up again.

[bearexin]

Well, looking at how people are using it to a great extent we could say that it was something we needed from the start of crypto currencies but discovered very late. I would say it required a lot of capital plus a bit more legal trouble (which tether surpassed by being in shady countries) which is why it took over 10 years for first one to exist.

At the end of the day I do not see them really like a problem but not a solution neither, bitcoin was always something we could turn into fiat and back anyway, the only thing that it allowed was places that does only altcoin trading and no fiat trading is now capable of doing fiat of sorts with the stable coins, that is all it was helping to and for some reason it got a ton of attention as well, hopefully it will never become a problem or a trouble to people.

[irixo10]

To an extent, Yes we need them because they help in protecting funds against crypto volatility, this is the only huge usefulness they have. To show you how much they have grown because we need them, take a look at how many users that USDT have today, even to the extent that you can send USDT via three chains, ERC, Omini and TRC, all in a bid to ensure faster transactions. However, irrespective of their usefulness against crypto volatility I do not trust them so much to hold for long. Furthermore, there are still cryptocurrencies that are valuable but however, they are just few.

[SolarWindMiningCompany]

Crypto always was volatile; if you go back and check the market history, you will see Bitcoin price went to 200$ from 600 couple of times, so? Instead, I would say this stablecoins are saving many people to get ruined! Because many coins price collapse suddenly, to protect your assets, you need a stable coin! Also, stable coins are ensuring bigger profits than ever before! For example, we had no option back to convert the falling down Bitcoin into stable currency, so we could not avoid the 50-60% dump, but now we can do it. Stablecoins protect your assets from dumping, you may think again!