Stablecoins is a good way to keep and save money or not?

[Sarah Azhari]

What do you think about stablecoins, some scandals around them and their future? It is interesting to hear the opinion of the members of bitcointalk

I like stable coin and I am able to grow over time with stable coins, without them it will be hard to take advantage of market dips and to take profits too, they are very useful assets you just need to use the most trusted ones like USDC and BUSD.

I think there is no reason to get tensed about these things they will be fine sometime now what if the market condition is bad in the coming days but it won't take much time for the market condition to improve so we have to wait and see what the market condition is.  We can get right information and right guidance here if we have to keep an eye on the matter

there's nothing wrong when using it and there's nothing wrong also with not holding it in for a long time. So I think what is the problem now is how can people trust the system when still have a vulnerability to be frozen and government didn't banned it.

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[Woodie]

What do you think about stablecoins, some scandals around them and their future? It is interesting to hear the opinion of the members of bitcointalk

Unfortunately some well known stablecoins do have scandals written all over them but it seems we all have put a blind eye & the past behind us and they seem to be growing strong too all because cryptocurrencies remain unregulated but if you are keen on doing something it's all up to us the end users to support or not to support such projects  .

Stablecoins is a good way to keep and save money or not?

If volatility isn't your piece of pie and want a piece of mind,stablecoins are the way to go but you need to remember that you also lose the opportunity to gain when markets are bullish as these are usually pegged to fiat or metals which are less volatile.

[Rupok]

Stable currency is very important as a backup.  Always keep some stable currency in the wallet.  I recommend you to hold only BUSD and also usdt, they are very good coins among stablecoins.Stable currencies play a role in bear markets.  Usually traders invest all their currency, but later find that when the market goes down, they have no currency left to buy.So stablecoins are very important to cover losses in trading. I always secure assets in stablecoins,because I know it will come in handy in times of danger.

[Dr.Osh]

Of course stablecoins are the way to save your money in a bear market. Imagine how much you could have saved or avoided losses by simply exiting trades a year ago in stablecoins. You could have bought many times as many coins now than you did a few months ago. Stablecoins are a safe haven during bear season.

temporary storage might be good enough, because storing assets in stable form of coins will make it easier for us to trade again, especially if you store it on an exchange, or a wallet that has easy access to DEX. However, in the long run, I personally don't recommend it. it would be better to keep the coin stable to Fiat, because it's the same. In fact, I think that keeping fiat in national banks is much safer, because it is absolutely guaranteed. Seeing the UST that fell quite far, it made me think like that.

[TWW]

Stable currency is very important as a backup.  Always keep some stable currency in the wallet.  I recommend you to hold only BUSD and also usdt, they are very good coins among stablecoins.Stable currencies play a role in bear markets.  Usually traders invest all their currency, but later find that when the market goes down, they have no currency left to buy.So stablecoins are very important to cover losses in trading. I always secure assets in stablecoins,because I know it will come in handy in times of danger.

Stablecoins are only used for backup when investment or trading plans must eventually change due to unfavorable market conditions.
Some people certainly do what you say to anticipate the panic that occurs in the market. but indeed some people prefer to collect trading profits or investments made in the form of stable assets.
I do day trading. and every day when I will exit the trade then I will convert it into coin stable. and will do it again when tomorrow I start trading again.

[Kelvinid]

Since the Terra LUNA incident, which also has coin stability, it seems that many people have been wary of coin stability. but I don't think there is anything completely safe in crypto currency, it's only natural that we have to really choose even if it's a stable coin. I don't know how many scandals there are, but I think a more open stable coin like BUSD is my choice.

We can't blame investors to think that way because even me, I'll be wary as well. Given the fact that we still have another option, I'd rather skip and ignore stablecoin for now until there is no scam issue with them. As once the trust had been ruined, it was not easy to bring it back. What does to Terra Luna can be possible to happen on its kind that is why we should be cautious enough and take the best option to see, in fact, there is Bitcoin, ETH, and many others that are worth investing in.

[lixer]

Stable currency is very important as a backup.  Always keep some stable currency in the wallet.  I recommend you to hold only BUSD and also usdt, they are very good coins among stablecoins.Stable currencies play a role in bear markets.  Usually traders invest all their currency, but later find that when the market goes down, they have no currency left to buy.So stablecoins are very important to cover losses in trading. I always secure assets in stablecoins,because I know it will come in handy in times of danger.

Yeah, because if all fails (the cryptos when their value dropped hard) we still have a balance yet that we can pull out. We won't lose too much of our money or the money that we already gained but it is important to choose only the best and the most trusted stable coin because if you picked up the wrong one then it is no different to the unstable cryptos. You can still be able to lose your money in it.

Busd is from binance so I think it is trusted. The reason why I am not really sure is because it is from binance which is a centralized company. I am not scaring everybody on here but I am only protecting myself from a possible manipulations that can happen.

[dlightag]

Stablecoin was the first method of my trading strategy, when market raise, I sell to stablecoin pairs and wait for pullback to buy, and so doing that as a new beginning spot Trader, I was happy as making small small profits. But the greatest surprised is that, they are difference between investment and spot trading. Which I have learned my mistake while playing with BNB Coin when was range of $20 to $32. as a pullback candle stake, I was happy with small profits made, which I trading $200 worth BNB, equivalent to 10 BNB Coin plus, my greatest regrate was I could not buy it back with my stablecoin, when the price pump to $600 per 1BNB Coin, holding stablecoin can not add value but remain constant.

[irhact]

What do you think about stablecoins, some scandals around them and their future? It is interesting to hear the opinion of the members of bitcointalk

I think they're a lifesaver although we should be careful of what we invest in. Not everything that comes out as a stable coin should actually be considered as one. We have seem them collapse in the past and more will collapse when they can't handle the sell pressure of their investors when things become bad. When it comes to stablecoin, I consider USDT and BUSD as the best options because of the liquidity they have.
This two stable coins has lots of market cap that they can handle buy or sell pressure whenever the market has to give. USDT has had some scandal but none has been able to crumble the market value as it did to Luna UST.

[Maidak]

I believe in BUSD because they are more open. but a little wary of USDT since I heard the news that the 1:1 backup to fiat is not 100 percent but only a very small amount. All stable coins should follow BUSD as they have clear backups so that everyone can trust stable coins. Unfortunately BUSD is very limited in transactions to many markets.

But both of these stablecoins are centralized and the risk you face is that your account could be frozen at any time, sometimes by mistake. Stablecoin is not suitable for long-term holding or savings, I think it is only a medium to use in some cases for short-term exchange. And another thing is that they are converted at the rate of 1: 1 USD, if you don't want to invest but are looking for save money then you can hold paper dollars which is also a safer alternative to saving with these stablecoins.

[mich]

Well the only stable coins I HODL are Tether and USD coin because I feel they are the most traded of all the stable coins when it comes to daily volume.  

Since most of my crypto portfolio consists of Bitcoin and always looking to add to it, these are my 2 most trustworthy of them all.  Maybe I will not make money only by saving them but they are the 2 I trust for long term holding.

[bounceback]

After what happened recently with UST & LUNA I would not put much faith in stablecoins. US Gov are desperate for Tether to fail too, I wouldn’t be surprised to see them try anything to take Tether down. For this reason I think keeping funds in stablecoins for any longer than necessary is negligent.

Yes, it is true that it is not advisable to store funds with Stabelcoins in the long term even though the average stablecoin is pegged to US fiat currencies, basically the existence of stablecoins aims to protect investors' funds when cryptocurrency prices experience high volatility such as during a bear market so to deal with this then usually their investors will choose to secure their assets to stablecoins for a while while waiting for the market to recover.

[len01]

After what happened recently with UST & LUNA I would not put much faith in stablecoins. US Gov are desperate for Tether to fail too, I wouldn’t be surprised to see them try anything to take Tether down. For this reason I think keeping funds in stablecoins for any longer than necessary is negligent.

Yes, it is true that it is not advisable to store funds with Stabelcoins in the long term even though the average stablecoin is pegged to US fiat currencies, basically the existence of stablecoins aims to protect investors' funds when cryptocurrency prices experience high volatility such as during a bear market so to deal with this then usually their investors will choose to secure their assets to stablecoins for a while while waiting for the market to recover.

because in crypto there is no 100% security guarantee even if it's a stabilkoin. because some popular coins have experienced very severe and almost unresolved problems like UST.
all cryptos have a high risk if you continue to keep money in crypto even though it is on a stablecoin it will definitely be more risky.
but it all goes back to each investor how to manage the crypto assets he has as long-term assets that have less risk

[capedbaldy]

because in crypto there is no 100% security guarantee even if it's a stabilkoin. because some popular coins have experienced very severe and almost unresolved problems like UST.
all cryptos have a high risk if you continue to keep money in crypto even though it is on a stablecoin it will definitely be more risky.
but it all goes back to each investor how to manage the crypto assets he has as long-term assets that have less risk

There are many list of stable coins but only the best are USDT and BUSD, although can't predict it because it's still risky to hold long term but at some point we have to keep USDT to avoid bear market, so even though it's top stable coin but we just check every update and will convert to top coin if stable coin has problem.

[sukmo]

Stablecoins are digital currencies that were developed to minimize price volatility. This type of cryptocurrency is a digital currency that is pegged to the value of other assets, be it fellow cryptocurrencies, fiat currencies, or trading commodities or other commodities.

Storing stablecoins can be a safe step in entering the world of cryptocurrencies even though basically in buying and selling crypto assets there is no guarantee of security and even has a high risk of loss.

Based on various sources, for example, the world's largest stablecoin by market capitalization is Tether, where the price touched US$ 0.9978 per chip on June 13. As of today, the digital coin (token) codenamed USDT is trading at US$0.9992 per chip, according to data from CoinMarketCap.

[Rana590]

because in crypto there is no 100% security guarantee even if it's a stabilkoin. because some popular coins have experienced very severe and almost unresolved problems like UST.
all cryptos have a high risk if you continue to keep money in crypto even though it is on a stablecoin it will definitely be more risky.
but it all goes back to each investor how to manage the crypto assets he has as long-term assets that have less risk

There are many list of stable coins but only the best are USDT and BUSD, although can't predict it because it's still risky to hold long term but at some point we have to keep USDT to avoid bear market, so even though it's top stable coin but we just check every update and will convert to top coin if stable coin has problem.

We can't predict what will be happened in future about crypto currency but when it is a matter of best and favorite stable coin then I will pick USDT and BUSD as like you. These are popular among most of the people and these have a separate fan base. I hope many people will join with this fan base to use USDT and BUSD for different purposes.

[fzkto]

because in crypto there is no 100% security guarantee even if it's a stabilkoin. because some popular coins have experienced very severe and almost unresolved problems like UST.
all cryptos have a high risk if you continue to keep money in crypto even though it is on a stablecoin it will definitely be more risky.
but it all goes back to each investor how to manage the crypto assets he has as long-term assets that have less risk

There are many list of stable coins but only the best are USDT and BUSD, although can't predict it because it's still risky to hold long term but at some point we have to keep USDT to avoid bear market, so even though it's top stable coin but we just check every update and will convert to top coin if stable coin has problem.

You are right about the convenience of having stablecoins to buy cryptocurrencies in case of a fall, but still in case of a bad scenario you will not have time to use USDT or BUSD because they have a locking mechanism. If something goes wrong, all holders will be left with blocked funds, which is the main risk of stablecoins.

[MFahad]

Unless there no strong backup for any stable coin , there is no security for your safety. Currently Usdc is backed by Ethereum and Busd by Binance while Usdt is not backed by strong assets so we should not be fully trust over this stable coin. It will be better to legalize these stable coins so it will be more secure to hold stable coins.

[JustEducated]

What do you think about stablecoins, some scandals around them and their future? It is interesting to hear the opinion of the members of bitcointalk

If you're scared of the market crashing you can just convert your tokens to stable coin to hold.
But don't expect any profit from it,
 because from what I heard the stable coin also works like your normal united state dollar.

[eightdots]

because in crypto there is no 100% security guarantee even if it's a stabilkoin. because some popular coins have experienced very severe and almost unresolved problems like UST.
all cryptos have a high risk if you continue to keep money in crypto even though it is on a stablecoin it will definitely be more risky.
but it all goes back to each investor how to manage the crypto assets he has as long-term assets that have less risk

There are many list of stable coins but only the best are USDT and BUSD, although can't predict it because it's still risky to hold long term but at some point we have to keep USDT to avoid bear market, so even though it's top stable coin but we just check every update and will convert to top coin if stable coin has problem.

You are right about the convenience of having stablecoins to buy cryptocurrencies in case of a fall, but still in case of a bad scenario you will not have time to use USDT or BUSD because they have a locking mechanism. If something goes wrong, all holders will be left with blocked funds, which is the main risk of stablecoins.

We always have to think about the worst-case scenario to protect our capital. As @fzkto said you can't do anything in any lock state. Instead, I can make a suggestion. If you are someone who advances with the logic of hodl, you may not keep your money in stable coins. When you buy, you can put money in the stock market. But if you want to be ready at all times, there is no such thing as a 100% guarantee. We all take that risk. That's why I support the legalization of stablecoins. At least we can feel safer.