Should we trust Stablecoin ?

[Anmol007]

yes brother i will trust of stablecoin. because stablecoin are mostly stable not down and up when i trade of the other one and i make a profite from it. then  the profite i will change in the stablecoin because stablecoin are not going down direaction he is always stable

[1715187453]

1715187453

[TanakabZX]

Why not? Stable coin is the fastest safe haven nearer that crypto investors can run to if bull season start going bear season, its the easiest way of avoiding price volatility, I trust stable coin because of their usefulness in trading and in investments

[sana54210]

yes brother i will trust of stablecoin. because stablecoin are mostly stable not down and up when i trade of the other one and i make a profite from it. then  the profite i will change in the stablecoin because stablecoin are not going down direaction he is always stable

That is clear, but USDT tokens are included in stable tokens whose value often fluctuates even though in very small numbers, but some people use USDT stable tokens when there is a market correction like at this time to store their assets.

It is specially important that you mentioned USDT because today New York AG declared that USDT wasn't always backed by the same amount of USD and instead it was lacking the funds that they claim they had, which shows the world that if one day everyone wanted their USD back, tether would have failed to do that and would crash and the price of USDT would have crashed as well since people would want to get out quickly when there was no money.

Long story short USDT is managed by Tether company that lied to people and now have to pay 18.5 million dollars in punishment just to New York AG, think about how much they would own if every city would do that just in USA, if we go global it is insane. So in short, stablecoins are not trustworthy because they are managed by people and those people may want to make insane returns from your investments and fail and your money could be gone.

[ukw]

In general, the idea of a Stablecoin is very good and extremely useful for people in crypto circles, but it still remains a crypto coin. I think there is always a chance that something will go wrong and the Stablecoin will depreciate (to be lawsuits against the project or something like that).

[Bitcoin Seller]

Don't store too large amount of money using USDT, if USDT is the best stable coin for you then open different USDT address for your assets, I believe that USDT team are freezing address that looks like illegal funding, even if they have no 100% clean proof or not we can't know for sure.

We have no other choice, stable coins provide at least some guarantee of stability. This type of digital currency is resistant to hacker attacks. All assets are held by the central authority, which is a reliable financial institution, attacks by fraudsters become almost impossible.

It goes without saying that fiat money is subject to inflation, and if a stable coins is backed by an unstable currency, its price may change depending on the exchange rate. But despite numerous rumors, stable coins continue to exist and are in great demand.

[blockman]

In general, the idea of a Stablecoin is very good and extremely useful for people in crypto circles, but it still remains a crypto coin. I think there is always a chance that something will go wrong and the Stablecoin will depreciate (to be lawsuits against the project or something like that).

Depreciation might really happen for stable coins because they're pegged in US dollars. And if the US dollars go into inflation or drops in value then logically speaking, its value has dropped as well but remains 1:1.
There might be others that won't understand what does depreciation means in terms of value, not in price.

[leatutz]

I'm already trying find out about what is Stablecoins like USD,EURO,YEN and other fiat name. In short things they community said "the assets" were back up nor not by real asset(Fiat,Gold,Oil) to guarantee.

They had build / creates Smart Contract with many of network Blockchain.  Doesn't team has no "profits" inside right? 1:1, even if we want to spend out assets they have no "benefits nor profits" cause we pay the fees/gas for those miners of network.

Creators Smart Contract can frozen the supply or tokens as they want. Other side things, as we know they had spend money, power, things for build a regulations (its not easy), what is exactly they trying to reach ?

Helping community to swap crypto instantly like unbanked ? Am not sure about that.

In the worst case, the Private Key is lost, or may be those creators passed, what the expectation will be happen?

I don't want to talk about any stable coin prices. Stable coin prices are equal to USA dollars. To freeze our portfolio, we can use usdt, dai and Binance USD. Binance USD is a very good project from binance exchange. If you don't separate your profit into USDT, your profit will be lose one day

[AmoreJaz]

In general, the idea of a Stablecoin is very good and extremely useful for people in crypto circles, but it still remains a crypto coin. I think there is always a chance that something will go wrong and the Stablecoin will depreciate (to be lawsuits against the project or something like that).

one thing that may go wrong here for example is like USDT, remember last 2019 when they admitted they were not 100% backed by USD . this is one of my worries with stable coin pegged to fiat. how sure are we that they are telling the absolute truth here? so yeah, you need to be careful with stablecoin like USDT. what we are seeing right now may not be the truth and we will be surprised that one day, it will collapse.

[StephenJH]

yes brother i will trust of stablecoin. because stablecoin are mostly stable not down and up when i trade of the other one and i make a profite from it. then  the profite i will change in the stablecoin because stablecoin are not going down direaction he is always stable

A stable coin is always stable and there are a lot of stable coins on the market. l prefer using USDT, that is why USDT is most popular among stable coins and more unbelievable for me. That is true there will not be any price changing, but l think the USDT team is making something better than others and they are really successful.

[Fredomago]

yes brother i will trust of stablecoin. because stablecoin are mostly stable not down and up when i trade of the other one and i make a profite from it. then  the profite i will change in the stablecoin because stablecoin are not going down direaction he is always stable

A stable coin is always stable and there are a lot of stable coins on the market. l prefer using USDT, that is why USDT is most popular among stable coins and more unbelievable for me. That is true there will not be any price changing, but l think the USDT team is making something better than others and they are really successful.

Stable is important if you want to park your investment without fearing that the value of your asset will fall, it's a tool to take advantage of the situation, each time the market drives down, you can convert your asset to stable coin and wait for a good sign before buying back whatever coin you are supporting.

There are traders who use this as channel for quick trade, since this assets is stable you can assume that the value of your fund
will stay as long as you are not buying any other crypto asset it will remain the same.

[masulum]

Stable is important if you want to park your investment without fearing that the value of your asset will fall, it's a tool to take advantage of the situation, each time the market drives down, you can convert your asset to stable coin and wait for a good sign before buying back whatever coin you are supporting.

There are traders who use this as channel for quick trade, since this assets is stable you can assume that the value of your fund
will stay as long as you are not buying any other crypto asset it will remain the same.

exactly, stable safe to use when the market getting flash dump. Change the value to stable is needed if you don't want to lose more. But, save money in stable coin wallet not always safe. lot of people must be aware about this potential. stable can freeze user wallet or even they are turn out as scam.

[Wawa2013]

Actually the goal is to create stable coins to avoid the volatile crypto market. So stable coins can be used to save our trading capital and also save
the profit that we get from trading. The existence of stable coins really helps me when trading, but I can't trust 100% of stable coins. Because at
any time, stable coins can end in scams, and my funds can be frozen. Therefore, the solution is not to save all the money I have in stable coins.
I only keep money in stable coins which I only use for trading purposes.