Topic: The use of stable coins or no? - page 4. (Read 1980 times)
Personally, I chose that the most stable coin is Ethereum. Since I always invest free money in this promising coin. And if you suddenly need money, I sell Ethereum and always have a good profit. So for me, Ethereum is a very stable coin. Since this coin is an excellent income and investment.
CBDCs will make stablecoins obsolete.
I'm not sure I'm getting your post. It's already an alternative to fiat, isn't it? I mean 1 USDT for example is supposed to be 1 USD and it's easily convertible to physical cash.
You haven't got what I said. Ok, you see when a bull run comes then the price of the bitcoins will suddenly skyrocket when it reaches its full price, most of the holders will sell their bitcoins simultaneously. on that time, the network will be congested if you convert your bitcoins into fiat. so as an alternative, you have an option to sell it into stable coins then sell it later to fiat. did you get it now?
Still the point is not clear. Even if you convert your Bitcoin to stablecoins such as USDT or USDC, the coins needs to be moved and it will add to the network congestion. So what difference it makes, whether I sell my coins to fiat currency, or to stablecoins? On the other hand, the step which you had proposed will add additional effort and waste our valuable time. On top of that, you need to pay the exchange fee multiple times. There is also an additional risk factor of storing the stablecoin in the exchanges for extended periods of time.
The use of a stablecoin is a good way to make payment anytime. It is always a painful experience to see the price of your coins falling while you are away from cryptocurrencies for awhile. I guess the right approach has always been to switch to a stable cryptocurrency, Stablecoins has always been a good alternative for individuals who are not very active on the crypto market.
I actually don't think of any use of stable coin than hedging. Also I do use it to keep the money that I want to spend in a month and the reason for this is because of its stability. Stablecoin is meant to protect our assets from volatility and I think this is what many of us use it for
I'm not sure I'm getting your post. It's already an alternative to fiat, isn't it? I mean 1 USDT for example is supposed to be 1 USD and it's easily convertible to physical cash.
You haven't got what I said. Ok, you see when a bull run comes then the price of the bitcoins will suddenly skyrocket when it reaches its full price, most of the holders will sell their bitcoins simultaneously. on that time, the network will be congested if you convert your bitcoins into fiat. so as an alternative, you have an option to sell it into stable coins then sell it later to fiat. did you get it now?
Still the point is not clear. Even if you convert your Bitcoin to stablecoins such as USDT or USDC, the coins needs to be moved and it will add to the network congestion. So what difference it makes, whether I sell my coins to fiat currency, or to stablecoins? On the other hand, the step which you had proposed will add additional effort and waste our valuable time. On top of that, you need to pay the exchange fee multiple times. There is also an additional risk factor of storing the stablecoin in the exchanges for extended periods of time.
Stablecoin is an alternative to all market problems being bad or not. If when this massive stable coin dump occurs it will stabilize according to the real currency.
Neither is the good stablecoin for the transaction so that the price does not go down as the transaction is unfinished. So alternatives can be very welcome.
Neither is the good stablecoin for the transaction so that the price does not go down as the transaction is unfinished. So alternatives can be very welcome.
Yes, in my opinion it can be a good alternative. Stable coins are widely used by traders and investors to maintain the value of their assets when the crypto price is being hit by bear season. And they will use it to buy at the right time. Besides that, stable coins also have their own advantages because they have used blockchain technology as their base.
I think that's served its purpose as stablecoin, many country have release their own or exchange open it for their convenient such as rubble, China Yuan, Yen, and different that has been introduced. I think this introduced to lessen the hassle of people from country that is very strict to cash in or cash out it's money for crypto and vice versa.
Of course you can use stable coins. I use them very actively, this is a useful rule. I also believe that stable coins is one of the best inventions.
Yeah, of course.The most advanced and interesting solution these days for me is Verasity with their VRA token. They are having incredible high trading volume on Binance DEX, so they are favorites in Binance Community Listing program, where people choosing tokens that will be listed on Binance. Of course, requirements of Binance must be met, and Verasity meets them, being in very high demand these days. And what is also important - they are coming with a fully working platform that is used by more than 700k people already
Wow, insane. You know, it seems that I have already heard of Verasity, but you've impressed me a lot, so I will have a closer look at what the guys are offering. Thank you very much for your recommendation
What are the ones? Or well, the most advanced from these 2. Can you share? Interested to compare with whether it meets my requirements
Yeah, of course.The most advanced and interesting solution these days for me is Verasity with their VRA token. They are having incredible high trading volume on Binance DEX, so they are favorites in Binance Community Listing program, where people choosing tokens that will be listed on Binance. Of course, requirements of Binance must be met, and Verasity meets them, being in very high demand these days. And what is also important - they are coming with a fully working platform that is used by more than 700k people already
Maybe you could explain your post further. People buy stablecoin for a number of reason, some prefer to trade other coins against stable coins than against fellow coins. Some want to hold stable coin pending when they are willing to invest in another coin, and so on.
I'm not sure I'm getting your post. It's already an alternative to fiat, isn't it? I mean 1 USDT for example is supposed to be 1 USD and it's easily convertible to physical cash.
You haven't got what I said. Ok, you see when a bull run comes then the price of the bitcoins will suddenly skyrocket when it reaches its full price, most of the holders will sell their bitcoins simultaneously. on that time, the network will be congested if you convert your bitcoins into fiat. so as an alternative, you have an option to sell it into stable coins then sell it later to fiat. did you get it now?
Exactly. I would say that I am only having 2 most attractive solutions I follow. Other don't simply meet my requirements
What are the ones? Or well, the most advanced from these 2. Can you share? Interested to compare with whether it meets my requirements
Good evening mate. Yeah, pretty similarly. And no doubt, that analysis is required. But to be honest, there are not many platforms that bring the value you've mentioned. And this is exactly why analysis is essential
Exactly. I would say that I am only having 2 most attractive solutions I follow. Other don't simply meet my requirements
I am pretty sure that much really depends on the solution. And I am not only talking about just the idea, but much more complex approach. Talking about me, I always pay attention to several factors, including working platform, prospects, value. How does it work for you? Similarly?
Good evening mate. Yeah, pretty similarly. And no doubt, that analysis is required. But to be honest, there are not many platforms that bring the value you've mentioned. And this is exactly why analysis is essential
I am pretty sure that much really depends on the solution. And I am not only talking about just the idea, but much more complex approach. Talking about me, I always pay attention to several factors, including working platform, prospects, value. How does it work for you? Similarly?
Stablecoins are most commonly used cryptocurrency is in every cryptocurrency exchanges whether it is centralised or decentralized. When the traders with the dried they always have the USD value coins aside and convert that points for cryptocurrency whenever they need and for the purpose of holding the certain percentage of investment.
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?
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?
Sure - stable coins like fiat but we dont need to pay huge fee's for withdrawal it. I suggest the most useful USDT (Tether) stable coin because of huge circullation and volume.
I would consider using Stablecoin when the market is unstable and i will using Stablecoin as a safe box. I think this option will attract a lot of interest.
Stable coins offers a lot of safety with the unbearable market spikes. Most people call it the 'safe haven' in trading, it serves as the purgatory of trading where you can easily enter or exit at any point. USD Tether is the most used stable coin as it is back 1:1 by existing dollars and cash equivalents making it a real digital dollar. However, even it is called stable coin we can't control its deflationary effect and contains a bit volatility. Indeed this looks naive, but imagine the loss you will get when you sleep while the market is burning red, you can't monitor all your asset all day.
Market is devastating especially on those part time traders that's why they are using either stable coin to provide safety or trading bot to limit their loss. But in my case, I don't use any of those, I just have this style of trading with 8 hours a day, win or lose at exact 8 hours. I believe discipline has saved me all the time. Jump to: