Topic: The use of stable coins or no? - page 2. (Read 1980 times)
This alternative is quite logical. Several persons may be unable to convert their cryptocurrency into fiat immediately, but the wise alternative is to convert to USDT or other stable coin which could be easily converted into fiat or other cryptocurrencies, when we're ready to sell.
It's a great alternative. I also often use stable coins. This is a very necessary and useful invention. If you need to lock in profits, then using stable coins is the best thing to do.
I think if we dare to take risks and believe the decisions we make based on what we observe then I personally will not choose to invest or trade using stable coins, stable coins are suitable for people who want to play it safe and are not in a hurry to invest in. a coin. But I think stable coins cannot give us many times the profit, if we can look for opportunities from other coins I think we can get a big profit.
As of now, the main purpose is to use as an alternative to fiat currency, in regions where the usage of fiat is prohibited in the cryptocurrency exchanges. Although this present a loophole, the users still face a lot of challenges while converting their stablecoins to fiat cash. Since the exchanges prohibit such conversion, they need to travel to a country or territory where doing so is legal. As a result, most of the users tend to keep their stablecoins in the exchange itself, without ever converting it to hard cash. And in case the exchange gets hacked or closed down, then they will lose the money.
It's a great alternative. I also often use stable coins. This is a very necessary and useful invention. If you need to lock in profits, then using stable coins is the best thing to do.
I think almost every coin can have a stable price, depending on when you buy and when you sell, the ups and downs in cryptocurrency in my opinion is a natural thing to live how our mental readiness and a good strategy in choosing a good coin for short-term investment, long-term medium, and long term.Despite the criticisms that many people direct at stable coins without a doubt they serve a very useful function and we cannot understand this market without them.
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It's a great alternative. I also often use stable coins. This is a very necessary and useful invention. If you need to lock in profits, then using stable coins is the best thing to do.
I think almost every coin can have a stable price, depending on when you buy and when you sell, the ups and downs in cryptocurrency in my opinion is a natural thing to live how our mental readiness and a good strategy in choosing a good coin for short-term investment, long-term medium, and long term.
It's a great alternative. I also often use stable coins. This is a very necessary and useful invention. If you need to lock in profits, then using stable coins is the best thing to do.
I think almost every coin can have a stable price, depending on when you buy and when you sell, the ups and downs in cryptocurrency in my opinion is a natural thing to live how our mental readiness and a good strategy in choosing a good coin for short-term investment, long-term medium, and long term. Stable coins are actually one of the things which makes trading good and less worrisome, maybe from my own opinion. With stable coins you don't actually need to worry about your trading gains dropping in value as you can easily move to stable coin if the market shows signs which aren't favourable. Also, apart from exchanges am yet to see other places where stable coins are used, which makes me to believe that their uses lies within exchanges.
This is exactly right, without stable coins it will be impossible to retain your profits except by cashing out and get fiat in return, but not only will that be very troublesome, that will take money out of the market that maybe will never come back.Stable coins give to us the ability of getting an asset that gives you protection when the market is crashing but at the same time you're still part of the market and you can get back in it in just a few minutes which is a great advantage that stable coins have over fiat.
It's a great alternative. I also often use stable coins. This is a very necessary and useful invention. If you need to lock in profits, then using stable coins is the best thing to do.
You can still lose your money invested in stable coins if something happens to the projects that these coins provide.
Or, for example, any major jurisdiction may change the status of stable coins, which will entail changes in the entire market under this jurisdiction.
In general, I would not recommend keeping your funds in stable coins in the long run. In the short term, this is an indispensable element of the market.
if one day a problem occurs, various changes in the status and stable coin rules do not make it fail in a short time.Or, for example, any major jurisdiction may change the status of stable coins, which will entail changes in the entire market under this jurisdiction.
In general, I would not recommend keeping your funds in stable coins in the long run. In the short term, this is an indispensable element of the market.
I think there will be a migration process and a switching system with procedures that can be done, I read various documents from stable coins that are strong enough to guarantee their reserves against the conditions that will arise, and only usdt are different from the others and according to what you don't recommend.
Stable coins are actually one of the things which makes trading good and less worrisome, maybe from my own opinion. With stable coins you don't actually need to worry about your trading gains dropping in value as you can easily move to stable coin if the market shows signs which aren't favourable. Also, apart from exchanges am yet to see other places where stable coins are used, which makes me to believe that their uses lies within exchanges.
Cross border payments can be made quickly with cryptocurrencies. Backing crypto tokens with stable fiat currency or assets can add more value and build more trust among investors and users. Stable coins are quintessential in the crypto world
On the other day, I think of the use of stable coins. I mean, when can we use Stable coins as an alternative fiat. You see when a bull run comes and everyone will start to sell their Bitcoins and some other coins into fiat the network will be congested.
So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?
I can't accept this thought because people can't know when to sell Bitcoin to Fiat coin. This is our imagination because we were sold our Bitcoin to Fiat coin. For your money safe and don't trust in pump or dump than you can stay in stable coin. You should alert with stable coin to buy anycoin anytime. So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?
When the bullrun comes, people tend to sell their Bitcoin because the price is high, the price is not high now so there is no reason to sell it now and hold stablecoin since the Stablecoin doesn't I crease in price, the aim is to make profit and not just to hold a Cryptocurrency, whether stablecoin or Bitcoin or any other major Altcoins or even shitcoins.
At present, stable coins for fiat alternatives are already available such as usdt, PAX, USDC and others. Of course stable coins being a fiat alternative is very helpful if the price of bitcoin is down we can buy stable coins to buy bitcoin later
On the other day, I think of the use of stable coins. I mean, when can we use Stable coins as an alternative fiat. You see when a bull run comes and everyone will start to sell their Bitcoins and some other coins into fiat the network will be congested.
So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?
I can’t understand something why to buy stable coins in advance and what role they will play in selling bitcoins after some time. If you worry about the timely purchase of bitcoins, then the preliminary purchase of stable coins would be logical. However, if we want to sell a certain amount of bitcoins, then stable coins are enough for everyone. You certainly should not worry about this. So I think if we buy Stable coins with some stable volume, we will no longer need to worry about unable to sell our bitcoin into fiat.
Rather we only need to do this thing right? is this some acceptable alternative or no?
That is not bad idea - to invest in stable coin. But this stable coin should be trusted and have a good volume. Such good is like USDT or USDC. That is much trusted coins. Another good stable coins can arrive but need more time.
It is the very same concept that allows you to trade bitcoin against the dollar and if you can sell it and buy it at the right time you can get more bitcoin in return, so I do not really understand why you are so surprised that something like that can be done and sometimes it is even a desirable thing to do.
low volality cant get you good return ofc. and that's opposite with investing defition.
that looks like to safe your money value than investing your money.
You can still lose your money invested in stable coins if something happens to the projects that these coins provide.
Or, for example, any major jurisdiction may change the status of stable coins, which will entail changes in the entire market under this jurisdiction.
In general, I would not recommend keeping your funds in stable coins in the long run. In the short term, this is an indispensable element of the market.
Or, for example, any major jurisdiction may change the status of stable coins, which will entail changes in the entire market under this jurisdiction.
In general, I would not recommend keeping your funds in stable coins in the long run. In the short term, this is an indispensable element of the market.
Well i don't like stable coins just because it is less volatile in my opinion. Now where the current situation is many of the new aspiring tokens or coins is floating like libra waiting for the SEC to approve their proposals that they include of being a stable curreny to be use in relation with fiat if i am right.
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Except for the store of value for profit in cryptocurency, Government authorizing or producing stable coin is just a way to protect laundering of fund in countries with corruption, and I dont think there is a country without corruption, it might only be concealed. it might be difficult to monitor the movement if adequate block-chain technology is not put in place. If I checked very well most people after the last bullrun move their money into fiat later on, though not all details are spell our here among investorsIn my opinion, stable coins are only useful for traders when facing fluctuating market movements so that the value of their portfolio does not decrease. But if every exchanger starts to receive a deposit using fiat money, I think stable coins will start to be disused and people will use fiat money more because it is more practical
Second your bank will probably ask where you got that money and there is a possibility they could close your account and even if you get your money to your bank account all of this will take several days, for all of those factors and many more we have stable coins.
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Except for the store of value for profit in cryptocurency, Government authorizing or producing stable coin is just a way to protect laundering of fund in countries with corruption, and I dont think there is a country without corruption, it might only be concealed. it might be difficult to monitor the movement if adequate block-chain technology is not put in place. If I checked very well most people after the last bullrun move their money into fiat later on, though not all details are spell our here among investorsIn my opinion, stable coins are only useful for traders when facing fluctuating market movements so that the value of their portfolio does not decrease. But if every exchanger starts to receive a deposit using fiat money, I think stable coins will start to be disused and people will use fiat money more because it is more practical
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