Abiky (OP)
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www.Crypto.Games: Multiple coins, multiple games
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March 28, 2024, 04:35:56 PM |
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When planning to protect yourself against volatile crypto market prices, which type of currency do you prefer? A stablecoin, or a traditional Fiat currency (USD, EUR, JPY, etc)? Why did you make that choice? Would you prefer holding either currency long-term? Or crypto is better for that? Your input would be greatly appreciated. Thank you.
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Orpichukwu
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March 28, 2024, 04:46:30 PM |
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To be on the safer side, I prefer going both ways in order not to make a great mistake. Like the way my local currency value is fluctuating, I can't take the risk of saving all in fiat.
Aside from holding a few cryptos like the ones I trust to hold for a long , I prefer to hold much of the stablecoin, which is pegged to the USDT, than my local fiat. The USDT has been gaining value over my currency, which saves me a lot when the value reduces, and also puts me on the safer side in case my local currency gains value over the USDT.
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moneystery
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March 28, 2024, 04:50:17 PM |
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to protect myself from the volatile crypto market, maybe i will take stablecoins like usdt to protect my assets from the volatile market. because i can't rely on my country's currency which is currently unstable due to political turmoil and i don't want to risk my assets losing value due to this. so choosing usdt stablecoin might be the best choice, since it's more stable and i can convert it faster on an exchange if i ever need to.
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avikz
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March 28, 2024, 05:02:50 PM |
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When planning to protect yourself against volatile crypto market prices, which type of currency do you prefer? A stablecoin, or a traditional Fiat currency (USD, EUR, JPY, etc)? Why did you make that choice? Would you prefer holding either currency long-term? Or crypto is better for that? Your input would be greatly appreciated. Thank you. If I really want to protect myself from the volatility of the cryptocurrency prices, I would invest in gold. To bypass the volatility of cryptocurrency, why would I choose another crypto? Doesn't make sense! Stablecoins are great for trading. If you are a regular crypto trader, you can make use of stable coins. But when it comes to avoiding the volatility, investing in Gold is the best option.
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Kelward
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March 28, 2024, 05:05:50 PM |
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to protect myself from the volatile crypto market, maybe i will take stablecoins like usdt to protect my assets from the volatile market. because i can't rely on my country's currency which is currently unstable due to political turmoil and i don't want to risk my assets losing value due to this. so choosing usdt stablecoin might be the best choice, since it's more stable and i can convert it faster on an exchange if i ever need to.
To protect myself from the volatile crypto market, the best option will be to convert it to stablecoins, and as the name implies it's pegged to a stable currency, the US dollar which is the standard currency for knowing the value of cryptocurrency. Most fiat currencies are not stable, they're affected by inflation, so saving your money in them reduces their values, but stablecoins like tetter, is safe to convert your money on the short term pending when you need it, also it's very convenient to convert your usdt to crypto.
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mrust_mobile
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The Alliance of Bitcointalk Translators - ENG > TR
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March 28, 2024, 05:18:11 PM |
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None. Get a stable-like crypto and withdraw your coins to a cold wallet. LTC has been very stable for example. It is a decentralized network, you can store your coins in a cold wallet and that means you'll have the full control over your funds which is a priceless feature.
If you want to hold FIAT that's not even related to crypto. You already know the advantages and disadvantages of having a bank account. If you want to hold stable coins, they are centralized projects and as far as I know they can freeze your funds which is a big no no.
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mk4
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March 28, 2024, 06:08:00 PM |
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I personally use stablecoins it's simply easier to get back into buying crypto when you're holding a stablecoin, vs holding fiat. I don't like staying unexposed to bitcoin/crypto for long periods of time lol but of course I still have money in "true" fiat in my bank account for my personal spending.
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Volimack
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March 28, 2024, 06:14:18 PM |
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As far as I'm concerned stablecoins are a good way to protect yourself from fiat volatility in the crypto market. Inflationary effects on fiat currencies When a country's economy suffers it can become difficult to devalue the fiat currency. Crypto has nothing to do with inflation with stablecoins I can do whatever I want. I can increase my currency through investment where there will be no pressure of inflation.
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o48o
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Leading Crypto Sports Betting & Casino Platform
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March 28, 2024, 07:02:07 PM |
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When planning to protect yourself against volatile crypto market prices, which type of currency do you prefer? A stablecoin, or a traditional Fiat currency (USD, EUR, JPY, etc)? Why did you make that choice? Would you prefer holding either currency long-term? Or crypto is better for that? Your input would be greatly appreciated. Thank you. I keep some in fiat cash and some in usdt in case i need it for building a position in alts or something else like sales that i need it quickly for. Bu tgenerally i try to stay out of stablecoins as they tend to be just an extra step when cashing out fiat money, and just one more thing to keep track on when doing taxes. Also fiat currencies that are coming to me tend to come all from legit places. But i can't say for sure if origin of my usdt, as i get it from random places, and i have no idea if wallets it's coming to me are flagged by officials or not. That might get my wallet flagged as well. So i don't keep much in usdt.
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Sophokles
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March 28, 2024, 07:10:11 PM |
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stable coin will give me fast and easy access to the crypto market. If i am a crypto investor that means i am an opportunity, and any major correction is a opportunity where i want to use my stable assets to accumulate any crypto i prefer. Fiat assets can cause some inconvenience when the market is in panic mode and everybody wants to convert their fiat or stable into other cryptos. So for me, stable coins are the preferred option if i am an investor. Some people might have different opinions because of the laws and regulations in their country.
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$crypto$
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March 28, 2024, 07:34:32 PM |
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When planning to protect yourself against volatile crypto market prices, which type of currency do you prefer? A stablecoin, or a traditional Fiat currency (USD, EUR, JPY, etc)? Why did you make that choice? Would you prefer holding either currency long-term? Or crypto is better for that? Your input would be greatly appreciated. Thank you. Stablecoins, it will be easier to buy more crypto on the market than traditional fiat so it will be a bit complicated, unless you use it for your daily life. In the current market conditions it is rare to use fiat all stablecoins have been used to buy some crypto because it is already a bit profitable unless in bearish times then holding stablecoins will be much more meaningful.
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fapar
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March 28, 2024, 07:42:39 PM |
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When planning to protect yourself against volatile crypto market prices, which type of currency do you prefer? A stablecoin, or a traditional Fiat currency (USD, EUR, JPY, etc)? Why did you make that choice? Would you prefer holding either currency long-term? Or crypto is better for that? Your input would be greatly appreciated. Thank you. 50% in fiat, 50% in stablecoins on a hot wallet to be able to quickly invest them. The main thing is not to get involved with dubious (sanctioned) exchanges so that later there will be no problems with blocking USDT from Tether, for example. But I would add at least 20% here for high-risk investments, because it’s good to store, but you also need to try to increase your crypto portfolio.
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DeathAngel
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March 28, 2024, 07:46:51 PM |
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I prefer not to hold too much capital in either stable coin or fiat long term. Most of my wealth is in Bitcoin, if I was to sell it all during a big bull market in the hope of buying back cheaper in a bear market I’d probably prefer to store money in USDT than my local currency. Keeping too much money in stable coins or fiat makes me uncomfortable though.
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Stalker22
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March 28, 2024, 08:10:45 PM |
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Well, it sorta depends! For me, whether to use a stablecoins or regular money to make it through the crypto rollercoaster relies on some stuff. Stablecoins are decent cuz they dont budge too much, which helps when crypto coins are dropping all crazy. It is also good if I gotta send cash between exchanges. But I still gotta pay my bills and buy groceries with regular dollars and so if I think Ill need to quickly get my hands on some money to grab something, sticking with dollars makes more sense.
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electronicash
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March 28, 2024, 08:18:58 PM |
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for someone who wants to stay long in crypto would rather put their money on stablecoin until the price is right to buy back. you'd be tempted to use the money to buy some stuff if you have it on fiat digital or cash, it already is meant for spending.
there is a time for staking your stablecoin by the way. when the bear market starts, staking usdt is a good time and then unstake the usdt when the price of BTC is right for buying.
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kentrolla
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March 28, 2024, 08:23:55 PM |
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Obviously it's stablecoin because I cannot risk it all in fiat because that too fluctuates and most of the fiat will be depriciating against the USD hence I would choose stablecoins as its value will be in lines with USD which will save me from crisis. But I know even stablecoins are not safe nowadays and there is no valid proof that these stable coins are backed with USD.
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salad daging
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March 28, 2024, 08:36:38 PM |
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Fiat reserves are always in local currency so when to avoid crypto market fluctuations I myself hold more stablecoins because it is easier to deposit into the market so this way it will not disturb the fiat which is a reserve for our daily life.
Actually it depends on what they want, some use fiat and then deposit it back, some USDT stablecoins are the same and easy to withdraw at any time so when the market is down they save more in favor.
Better maybe, fiat is owned, stabelcoin is still stored, coins are still held.
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batang_bitcoin
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March 28, 2024, 09:35:05 PM |
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When planning to protect yourself against volatile crypto market prices, which type of currency do you prefer? A stablecoin, or a traditional Fiat currency (USD, EUR, JPY, etc)? Why did you make that choice? Would you prefer holding either currency long-term? Or crypto is better for that? Your input would be greatly appreciated. Thank you. Stablecoins still so that whenever the dip comes, I can buy whenever I want. But for some exchanges, they have their own fiat currencies so it's fine as well but going on with stable coins, you've got more options when you're about to buy several cryptos that you want to. Anyway, whichever works to you perfectly with how you trade in the market, that should be your preference and what important is what is giving you ease on this market to keep some value and how you keep your profit.
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tsaroz
Legendary
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Activity: 3094
Merit: 1069
Vave.com - Crypto Casino
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March 28, 2024, 10:43:36 PM |
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When planning to protect yourself against volatile crypto market prices, which type of currency do you prefer? A stablecoin, or a traditional Fiat currency (USD, EUR, JPY, etc)? Why did you make that choice? Would you prefer holding either currency long-term? Or crypto is better for that? Your input would be greatly appreciated. Thank you. Cash is still the king when you need to spend it quick. But stablecoin can be a good way to save your money as it gets you more interest rate than banks. (For most nations) Currently USD stablecoin staking is been provided a interest rate over 9% (APY) on binance. And even in the bear, the rate were around 4% which is still better than what my banks are providing. DEFIs might provide even better rates. There are risks involved, moreso on stablecoin investment than saving on banks but if you are careful enough, saving on stablecoin might be a much secure and better way to grow your money.
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btc78
Full Member
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Activity: 2646
Merit: 218
⭕ BitList.co
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March 29, 2024, 12:45:26 AM |
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Honestly, I prefer to hold it in as stable coins. Maybe some would argue that it’s just basically the same and therefore does not matter but I think there are significant differences that could make or break your decision. For instance, I believe stable coins are much safer compared to fiat. Due to transaction fees, it helps me not spend on useless things the money that I have and it is also easier to trade it when the opportunity comes.
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