Topic: Buying stable coins is a goog or a bad idea? - page 3. (Read 5536 times)
Buying a stable coin I think is a good idea, where the coins will remain in a safe condition. but buying stable coins is a bad idea when following an investment, where the investment will go monotonous and you don't get a profit. Buy stable coins depending on what you want to use them for. Steady coins are a good idea when you are trading.
That's a bad idea, man. Do you know what Stablecoin means? The price of Stablecoin follows the price of objects in the real world, such as gold, dollars or the like. And most of us use Stablecoin only for the purpose of buying crypto via usdt or buying IEO tokens because many IEOs use USDT as a transaction, not BTC or ETH.
I guess one of the reason for some investors to purchase stable coins would be to minimize the effect of certain fiat currency dropping in values due to economic crisis around the world, but since the values of stable coins are usually very stable on the trading market, investors should not be hoping to make huge profits by trading stable coins.
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As a trader, sometimes I convert my holdings to stable coins (especially USDT since it usually has more volume and trading pairs) , when I think the market will dump or when I'm off for a while and can't watch the market. This is because I day-trade so I have to be very careful to avoid losing big. Asking if buying stable coins is good or bad idea depends on the purpose for buying. Buy when you want your holdings to be stable in price escaping volatility or when you want to trade on stable coin pairs. Normally you should know that buying stable coin for long term is not profitable, since price is almost stagnant.
It could be profitable if the fiat that used to backup your stablecoin is increasing in price but considering the volatility nature of cryptocurrency that might not affect that much.Only if stablecoins reward holders for staking that'd be a little profitable.
If you know you are gonna lose money investing in it, why invest at all? Or maybe the article you read is some kind of FUD since Bitcoin is making its way up again this week.
Depends on your need. If you need to have stable coin to flee from the falling market, it's good to save your portfolio.
But since then, I've never purchased any stable coin. I don't think that this would ever fit my style of investing and trading.
But since then, I've never purchased any stable coin. I don't think that this would ever fit my style of investing and trading.
Investing in stable coins can't be considered as investment because what you just do is convert your countries local currency into a cryptocurrency which neither increase nor decrease in price.
As a trader, sometimes I convert my holdings to stable coins (especially USDT since it usually has more volume and trading pairs) , when I think the market will dump or when I'm off for a while and can't watch the market. This is because I day-trade so I have to be very careful to avoid losing big. Asking if buying stable coins is good or bad idea depends on the purpose for buying. Buy when you want your holdings to be stable in price escaping volatility or when you want to trade on stable coin pairs. Normally you should know that buying stable coin for long term is not profitable, since price is almost stagnant.
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 think it's good as long as the coin is aimed at continuous stability, if only at the beginning it's just a lie. crypto is volatile where prices can change significantly, so investing doesn't have to be stable but also has a clear concept.
The purchase of stable coins is not a bad idea. As a matter of fact, they have their own usefulness, but you should know that you cannot grow your portfolio with stable coins, except you decide to trade with it. Meanwhile, you can avoid loss of investment value by keeping your coins in stable coins.
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?
Buying stable coins to invest is not the right thing or a bad idea, because investing in stable coins will not give you multiple benefits or just waste your time. But, there is no harm in investing in stable coins if you are a person who is afraid to take risks and choose to play it safe.
Think of it this way, first of all try to understand what stablecoin simply means, which is that it is stable.it doesn't go up or down in price. So let's say you bought $1000 of usdt and held it for 1year, when you come come back, you will still have your $1000 sitting there so buying stable coin is not an investment
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?
You need to buy a stable coin for a specific purpose. In a stable coin, you can use the advantages of cryptocurrency as a means of payment or wait for time to exchange it for a certain type of cryptocurrency under certain circumstances: time, price, or others.It just doesn’t make sense to buy a stable coin, since they cannot bring profit to its owners. A stable coin should be regarded as a buffer between regular currency and cryptocurrency.
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.
I use stable coins to trade. save assets for stable coins and crypto trading will be more protected from risk. it is possible that many traders and investors now have more stable assets than crypto. that which makes the dominance of one asset will be felt, and those who have low trades will certainly be a bit of interest.
I don't gain anything from stable coin. The coin is always stagnant, so minimal or no volatility and I may just end up having another version of fiat except they have a plan to be paying me dividend otherwise, it's a wise of money.
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?
There are things you should understand about stable coins because it seems like you dont know what stable coins are
1. Stablecoin is just like having or keeping fiats on the blockchain tech
2. Stablecoins are different from POS (prove of stake)or POW (prove of work) coins,you cant mine or get rewards when holding them
3. You should know that you cant make profit by holding stable coins ,if you hold 100$ worth of stable coin it will remain 100$ and wont increase in value
Stable coins are better for those who like online trading
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?
Better then put the money in the bank. More profit. More good. A stable coin is stable and that it does not bring anything. And if you are not a trader. You do not need such coins at all.
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?
Bad idea, even if you buy a stable coin it is unlikely that the coin will continue to be stable because it will also decrease due to inflation. choose coins that have large volumes and clearer concepts, even though the price is not stable at this time. there will be times when the coin will develop.
I do not see the need to buy stablecoins if I do not intend to use them to trade on exchanges, I would prefer to leave my money in the bank where I am guaranteed of safety better than those exchanges
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