Why do you use stable coins?

[Vaskiy]

Stablecoins are used to maintain the portfolio in a stabilized manner unlike the market trend. It is quite an easy thing to trade against stablecoins when the market is bullish and buy back when the market crashes. This is the major use of stablecoins. Also users find it easy to calculate against other cryptocurrencies while trading, and if the same is done against any other altcoin it might be confusing at the beginning. Apart there is no much uses of stablecoins.

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[OrangeII]

Personally, I sell my assets and hold the coin stable because it is more flexible. when I want to use the money for business purposes, I just use it. what's more I can easily send stable coins from one exchange to another. when i convert it to fiat, it will be inflexible anymore, and need process to convert it to stable coin. however, it's a matter of flexibility. well, if i have profited from it, then i will convert it to fiat and use for personal, or offline business.

[aruldaroy]

When we see the market is going down due to a lot of FUD then the best thing I do is immediately switch to a stable coin like BUSD or Tether, this proved to be more secure so I was able to save more than 30% of assets since december and now its time to buy cryptocurrencies again .

That's for those who are familiar with the world of the bitcoin market, of course, quickly switch to stablecoins when the market is hot as it is today, but for those who are new to the market or who have just joined the market, of course they panic and wait for time to return to normal.
although sometimes there is a big loss.

[Gorosden]

To store money in digital form, very useful than keeping money in fiat and bank, you can easily take advantage of dips if coin value drops by using usdt to buy instantly as a crypto investors is wise to always have some usdt around in this market cos opportunity can come at any time

[tarable]

if we convert the proceeds from the sale directly to the bank, then we have to convert back fiat to crypto and that is not a trader's job. there are also people who convert directly to fiat and put fiat into the bank, but not 100%. it could be 30% to 40%, the rest we save for trading activities again.

[sayaya17]

Of course holding stable coins like USDT will be very useful and simple for crypto traders, because this will make it easier for them to buy crypto assets, especially when crypto the price drops, traders who hold USDT can buy first, than those who store fiat in the bank.

[Rengga Jati]

I commonly use stable coins for:
1. When trading, I will convert to stable coins and then use them to continue trading by buying other available pairs with stable coins.
2. Going to cash out to bank account. I commonly use stablecoins in order to cash out to the banks.
3. Save some stable coins in order to prepare them to buy when the market going to get the market corrections.

[dunfida]

Hi, I'm a normie who finally got into crypto in nov 2021. But I don't get stable coins. When you sell your crypto, why don't you just convert back to fiat and put that fiat into your bank account right away? I worry about stable coins becoming un-pegged; this is a big concern for me; it's an extra worry that you don't have if you just convert back to fiat right away.

I can see using stable coins as a trading pair to purchase alts on a dex but I don't understand holding stable coins for longer periods of time like weeks, months or years as a store of value; to me this feels way too risky. What am I missing?

Might be different if you could do a lot of your every-day normal shopping with stable coins but right now you can't.

I do only make use of stable coin when i do tend to secure out my profits in USD value of course or simply talks about saving up my ass with the volatility here on the market.

Once you do know the aspect of its usage then you could really take advantage of it, just dont mind off about investment purposes because it wont really fit out into that criteria.

You would able to realize things on whats the real deal with these stable coins if you do made actual trades and investment.

[glendall]

I use stablecoins to save me from losses, and make it easier for me to exchange to fiat and withdraw to the bank as much as I need
because if I withdraw everything to the bank it will be difficult for me if I want to shop for other coins at the right time to enter certain coins

[SlimShadyMmp]

Stable coin is a better way to go back into the market and seriously some cash in some countries can lose cash value like hell and you might just lose your cash converting into fiat So basically people keep cash in order to make quick cash turn around I think

[zonefloor]

Everyone wants their money to be guaranteed in some way. But why would I complicate the same job? The reason we use stable cryptocurrencies is because it's a safe haven when markets go bad. If we can switch to stable money at the right time, we will not lose money, on the contrary, we can increase the amount we have by buying more at low. Other than that, for crypto money investors who are constantly chasing opportunities, such moves can cause bad results and miss opportunities, even momentarily. Posting from the bank account to the exchange platform becomes worthless for a long time, as they approve the transaction and send transactions between exchange platforms. It can also cause serious problems in taxation issues.

[senyorito123]

Stable coins can be used as our maintaining balance for purchasing, and it serves as our buying power because it doesn't decline with huge amount. Same with usdt, we can have the assurance of not losing much money because it gave you more time to wait for more chance to eye good coins that went down then you'll have the opportunity to buy during the dip using your buffer.

[LastKiss]

Hi, I'm a normie who finally got into crypto in nov 2021. But I don't get stable coins. When you sell your crypto, why don't you just convert back to fiat and put that fiat into your bank account right away? I worry about stable coins becoming un-pegged; this is a big concern for me; it's an extra worry that you don't have if you just convert back to fiat right away.

I can see using stable coins as a trading pair to purchase alts on a dex but I don't understand holding stable coins for longer periods of time like weeks, months or years as a store of value; to me this feels way too risky. What am I missing?

Might be different if you could do a lot of your every-day normal shopping with stable coins but right now you can't.

There's always a risk in this cryptocurrency even their stable coins, why do many people use stable coins instead of just investing in altcoins or bitcoin? Some of them maybe want to keep their value when bear market happening, some of them want to stake them in some platform to get yearly profits tho this is not that profitable, and it can be used to withdraw our money from the exchange to our savings/wallet

[Valak]

Stablecoins are attractive because they seek to offer the best in cryptocurrency payment security or privacy, and the volatility-free stable valuation of fiat currencies.

[QueenVera]

I can see using stable coins as a trading pair to purchase alts on a dex but I don't understand holding stable coins for longer periods of time like weeks, months or years as a store of value; to me this feels way too risky. What am I missing?

You hold stablecoin because of its easier to use to purchase other Cryptocurency when the market is experiencing a correction. Banks has procedure in releasing money and you might need an urgent purchase of your watched coin but due to the delay of the banks and its centralized system  that could take you more time than just having a stablecoin in your wallet that within seconds or minutes  you will be able to excute that transaction.

Stablecoin can also be stakes for stable returns and yes some merchant accept them for purchases. Most merchant convert their crypto transaction to stablecoin immediately the deal has been done and lastly stablecoin serve as a save heaven during market crash and I believe that is the main importance.

[abikobong]

the network fee maybe it is, but still, kind of defeats the purpose of a stable going unless you are sending high amounts all the time.

[jatinkapadia]

Stable coins have many advantages..

It's non volatile or say very little in other currency
To reduce or create a fix transaction cost if it's been deployed on main net
Reduces time for transaction

[tvplus006]

That's all there is to Stablecoin so stablecoins are only suitable for use when the market correction begins to arrive, for example like now and also in the past few days, besides that I don't think it is suitable to be used because Stablecoins have never increased much so they are not worth bringing into trading.

Many continue to hold stablecoins, instead of withdrawing their profit to fiat, since the deposit rates for stablecoins are higher than in traditional banks. And at the same time, you always have the opportunity to buy the coin you are interested in at a low price in case of an unexpected dump.

[TastyChillySauce00]

Exactly keeping the value of your investment is what stablecoins are mostly the main use case that it has.
The volatility of cryptocurrencies are quite high if you compare it with most of fiat, that’s why stablecoins are now widely used because it just make things more convenient.
I'm sure most of the traders who ever used stablecoins are using it just like a safe point where for example if you have your investment currently having rally, you should take profit and that in form of stablecoins so your investment won’t ever go down again.
It’s just short of final destination when your unrealized floating profit be finalized and realized eventually. If the ability and reserved fund makes you doubt with it and just stick to the DAI. that will be enough for you to fix all of your fear

[Silberman]

Hi, I'm a normie who finally got into crypto in nov 2021. But I don't get stable coins. When you sell your crypto, why don't you just convert back to fiat and put that fiat into your bank account right away? I worry about stable coins becoming un-pegged; this is a big concern for me; it's an extra worry that you don't have if you just convert back to fiat right away.

I can see using stable coins as a trading pair to purchase alts on a dex but I don't understand holding stable coins for longer periods of time like weeks, months or years as a store of value; to me this feels way too risky. What am I missing?

Might be different if you could do a lot of your every-day normal shopping with stable coins but right now you can't.

In many countries it is still very difficult to sell your coins and then put that money in a bank account and then get back to the market, this is a process that can last days or even weeks, and whether you are a trader or investor this time frame is simply unacceptable, this is why stable coins exist, as people can enter and get out of any coin in a matter of minutes or even seconds, this also improves the liquidity of exchanges and coins, so on average stable coins are quite useful in this market whether we like it or not.