Buying stable coins is a goog or a bad idea? - page 2.

3core

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Quote from: btc_love on August 09, 2019, 07:58:46 AM

After reading this article https://changelly.com/blog/stablecoins-an-idiom-of-stability-in-crypto-space/ I started to think about purchasing stable coins. What's your opinion about that? Is it a good or a bad idea?

I don't like stable coins, why bother buy stable coins when you can keep your funds in fiat currency, I only find stable coins useful if they are kept temporarily for trading purposes.

bocyaj

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Quote from: btc_love on August 09, 2019, 07:58:46 AM

After reading this article https://changelly.com/blog/stablecoins-an-idiom-of-stability-in-crypto-space/ I started to think about purchasing stable coins. What's your opinion about that? Is it a good or a bad idea?

If you are new to the cryptocurrency world, buying of stable coin is good idea. Because in starting stages, you are forced to lose some money by the lack of knowledge. At that stage, you can directly inverse on a stable coin. So that, atleast you may avoid the loss.

rdluffy

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I use stable coins to hold my position in USD
If I'm doubt about the trend of market, usually I use Tether to have USD dollars and them buy again cryptos

I don't think it's a good idea to "invest" in stable coins, as the name suggests, it's stable, and you'll gain money with volatility

Dzeronimo

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Buying stable coins is a good option if you think that the price of BTC and alts will go down. If you want to buy and hodl stable coins, you will lost the opportunity to make some profit.

sentoy

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if my opinion buying stablecoin is a natural thing in a buying and selling trade, it would be better to buy another coin than that because it will not be useful to make rich, stablecoin is very cheap price far from the normal increase, still better altcoin and bitcoin with the up and down movements are stable. It is recommended that you don't buy stable coins.

bitcon

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Quote from: Sacramentus on August 09, 2019, 11:40:08 AM

You can't call buying a stable coin an investment because relatively, your money is just there and not growing. Stablecoin is good though but it's main purpose is to provide liquidity to the cryptocurrency volatile market.

Stable coins are perfect for those, who make money (traditional) in the countries with great inflation and other economic problems. Exchanging their fiat to stable coins, they can simply protect themselves from great losses. Most of these coins depend on the dollar, which is still the most powerful money in the world. Volatile cryptos are risky, but you can earn on them.

tungaqhd

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Stable coins is not made to make profit because its price is stable. It like fiat money, so you can choose selling your coins for fiat money or stable coins.

DeathProxy

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Stable coin are not coin you buy for investment purpose, as they dont yield any profit overtime because they are not involved in the volatility of other crypto coin. You buy stable coin when you want to save the same equivalent of that money and would not it to dip due to the dump of btc or other altcoins. Stable coin is just a means to secure your assets

sana54210

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Quote from: btc_love on August 09, 2019, 07:58:46 AM

After reading this article https://changelly.com/blog/stablecoins-an-idiom-of-stability-in-crypto-space/ I started to think about purchasing stable coins. What's your opinion about that? Is it a good or a bad idea?

Your decision to buy stable coin or not depends on the intention for which you wishes to hold such coin, and till everyone knows reason why you want to buy it before you can get an accurate advise. There was a post I commented on recently where the op specifically stated if it is good for him to invest in stable coin, and I was like why would someone ever think of making a stable coin n investment because for my own definition of investment, it is what you put your money into for the purpose of yielding more increase from it and as stable coin name implies, it is absolutely far from that.

I use stable coin, and ever since I have add some assets in stable coin, it has been stagnant that way for months, but I know of that already and I am just using it to keep the value of my coin.

timmmers

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When you would like to stay in crypto but do not want to loose USD value when market is crashing it is good. But when you hold stable coins and crypto is growing, you are loosing.

baigreen

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Quote from: Javi_Anibarro on August 10, 2019, 04:42:39 AM

Quote from: ?? on ??

I do not see any point in investing into stable coins. They are not called stable without a reason, they are not changing their price and are not created for investment. If you would like to stay out of the market and keep your money on exchanges, you can use stable tokens.

Yes, that is true about the definition of stable coin.
BUT, holding all of your position into stablecoin because you want to keep your money out of exchanges or markets is a bad idea. Because they have proven their shadiness by minting a lot of coins these years. Imagine if something goes wrong happens with it, and people gets tired of their stupid action. Do you think the price will tank? it happened before, the price went down to $0.8 a year ago.
that means the best way to keep your money is by cashing it out or just but Bitcoin and keep it in your wallet.

Yes, stable coins are not unique. And not the fact that all stable coins are so stable against falls. It’s just that we didn’t fall so far in order to understand how stable USDT is. I imagine that a stable coin is like a peramide that can close in one day. Grin

Javi_Anibarro

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Quote from: ?? on ??

I do not see any point in investing into stable coins. They are not called stable without a reason, they are not changing their price and are not created for investment. If you would like to stay out of the market and keep your money on exchanges, you can use stable tokens.

Yes, that is true about the definition of stable coin.
BUT, holding all of your position into stablecoin because you want to keep your money out of exchanges or markets is a bad idea. Because they have proven their shadiness by minting a lot of coins these years. Imagine if something goes wrong happens with it, and people gets tired of their stupid action. Do you think the price will tank? it happened before, the price went down to $0.8 a year ago.
that means the best way to keep your money is by cashing it out or just but Bitcoin and keep it in your wallet.

Tipstar

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Quote from: btc_love on August 09, 2019, 07:58:46 AM

After reading this article https://changelly.com/blog/stablecoins-an-idiom-of-stability-in-crypto-space/ I started to think about purchasing stable coins. What's your opinion about that? Is it a good or a bad idea?

Stable coin has been a perfect tool for traders. There were less opiton when the crypto market went bearish in the past but now, users can retain the fiat value without actually converting them to fiat. While on stablecoin, users can easily exchange them back to crypto. Hence, stable coin would boost trading of crypto and make the market much more stable.

blu.storm

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i don't think it's a form of investment, their only utilitarian is to get out of trading at the end of the session and not lose the accumulated gain

Dilladupak

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if I think buying stable coins is not a bad thing, because for me it is also a positive thing to secure some of my assets and also a great way to take profits in trading, because stable coins will also provide good prices going forward.

mr_random

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Quote from: btc_love on August 09, 2019, 07:58:46 AM

After reading this article https://changelly.com/blog/stablecoins-an-idiom-of-stability-in-crypto-space/ I started to think about purchasing stable coins. What's your opinion about that? Is it a good or a bad idea?

If you have bought the low price altcoins, converting profit to the stable altcoins may be a good idea. No point to discuss the another way around. It only makes sense to sell the crypto holdings to stable coins for liquidation and avoid further volatility. Step by step the stable altcoins will replace the gold price pegged altcoins in my opinion.

Dpat

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Buying of a stable coin is a very good idea. As, you know that how the higher volatility of the crypto market affecting the all coin and token so, buying of this stable coin keep you risk free in the adverse situation of the market. Recently, Bitbond has introduced it's stable coin BB1 through the STO.

mamesso

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Stable coins can be categorized as one of the coins to secure our money in the form of assets. If your intention is only to secure your money in the form of coins, it will be the right solution. But if you want to make a profit in trading, you must be able to invest your money in the form of bitcoin or ETH.

xiboothrezi

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Quote from: Thanasis on August 09, 2019, 08:10:35 AM

Purchasing stable coin as investment? Such a bad idea.

Buy stable coins for trading purpose because it is more convenient to trade than trading with USD but the value of stable coin also decrease due to inflation.

Agree. Stable coins are more effectively used to make daily payments supported by cryptocurrency, for example, paying electricity tokens, buying and selling online, games, etc. as explained in the article pinned by op. Usually, I use stable coins to secure assets when the market is not conducive when trading.

Periodik

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Quote from: btc_love on August 09, 2019, 07:58:46 AM

After reading this article https://changelly.com/blog/stablecoins-an-idiom-of-stability-in-crypto-space/ I started to think about purchasing stable coins. What's your opinion about that? Is it a good or a bad idea?

What are you buying stablecoins for? Stablecoins do not have much use, except if it is accepted as a payment in your place. Other than that, it will only serve as an option for traders to avoid getting caught by a poor performance of the market. Stablecoins do not grow much in value. People are mostly trading stablecoins because of what it is built for, stability.

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