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This is the purpose of stablecoins they are designed to minimize the volatility of the price, I don't think it will cause congestion when selling bitcoin into fiat. Often the conversion will happen on a platform or a crypto wallet. Conversion or selling from BTC to Fiat is most likely instant. Simultaneous withdrawal or sending of bitcoin will cause the network to be congested.
Topic: The use of stable coins or no? - page 8. (Read 2007 times)
Stablecoin is only used to maintain the value of your assets, not rising and not decreasing. People who invest with Stablecoin are those who no longer expect profits from their investments, so that their assets still survive without going up and down.
USDT is my choice now. in daily trading that I do USDT is very helpful. but not for the long term, because the USDT is so risky it suddenly disappears. don't know about LIBRA next year. because their developers say libra will be a stable crypto. maybe traded maybe not. it could be just to support several features on their platform.
We need stable coins because they are dollar equivalent in the market. Whenever the market starts going nuts the easiest way to move out is by moving your investments to stable coin to avoid losing money. Stable coins are like shock absorbers in the cryptocurrency market. Just find a better exchange with good trading volume anytime to want to sell your coins you can do it within seconds.
These are what traders are doing, the purpose of why stable coins are being introduced in the market. But one thing for sure, these cryptocurrencies have their respective advantage over one another. In a sense that, they need each other for each trader to earn profit. One another example of it is the BNB coin and other cryptos that provides a discount on when used in trading. There are also those privacy tokens that are extremely untraceable. Going back to the topic, stable coins is also beneficial for donations or charities, as well as for businesses that want to utilize cryptocurrency in their projects.
few stable coins have price movements so it is difficult to be able to get profits so I prefer not to use stable coins for trading, but if you are a new trader and want to do long-term traders then stable coins can be one of your choices.
If you are into trading and seek profits for volatility then stable coins is not suitable for you since there's no price changes of it and it will only be good for those user who seeks an alternative currency which they wouldn't have to worry for them even if they left there coins for many days.
USDT is somehow stable, but the most important thing that the token increase but most of investors need to gain profits from it.
The one thing annoyed me for Tusd is huge withdrawal fee on binance and it's not good for me since I'm kinda conservative with fee's and profits that's why I prefer TUSD over usdt since TUSD got lower fee and much faster transaction.
USDT is somehow stable, but the most important thing that the token increase but most of investors need to gain profits from it.
Of course, the alternative was acceptable. Stable coins do not need to worry the price will drop in they remain stable like USDT.
Stable coins are also suitable for transactions in order not to be the anxious prices will drop, people use Fiat for transactions.
Stable coins are also suitable for transactions in order not to be the anxious prices will drop, people use Fiat for transactions.
We aren't still realized the purpose of this creation. Basically, and what we've know about crypto is just an investment but supposedly it was not, it is a currency instead. Bitcoin and Ethereum had already a big role in the market but how about the others? Many coins died because they don't serve anything, they don't have a working product where investors and traders have to buy and used them.
For this market scalability, we could just expect that only stable coins will run in the market for a longer time and have sustainable market gains. And we feel sorry for those who did not.
For this market scalability, we could just expect that only stable coins will run in the market for a longer time and have sustainable market gains. And we feel sorry for those who did not.
Stable coins have always been a good attention to cryptocurrencies. Am even glad that we have more than one stable coin to control any incidence of monopoly in terms of charges on various transactions. At least it really helps people who are not really into crypto trading and hence are easily affected by the high volatility of the crypto market.
few stable coins have price movements so it is difficult to be able to get profits so I prefer not to use stable coins for trading, but if you are a new trader and want to do long-term traders then stable coins can be one of your choices.
I like stable coin and like to use it, but market without altcoins is useless, changes the price make profite, you can buy when price low and sell when price high, so we still need all other coins.
I likewise concur with this, the more stable coins we have, the better. particularly when the wellspring of such stable coins is from a believed source like Binance. This is great we need progressively stable coins on the grounds that these coins likewise need some monstrous volume when a bull run comes.
At the point when the other stable coins are sold out around then, we can pick another. along these lines, essentially the more stable coins we have in the market the more we can limit the danger of holding unsellable coins as a result of the clog.
At the point when the other stable coins are sold out around then, we can pick another. along these lines, essentially the more stable coins we have in the market the more we can limit the danger of holding unsellable coins as a result of the clog.
We need stable coins because they are dollar equivalent in the market. Whenever the market starts going nuts the easiest way to move out is by moving your investments to stable coin to avoid losing money. Stable coins are like shock absorbers in the cryptocurrency market. Just find a better exchange with good trading volume anytime to want to sell your coins you can do it within seconds.
I was never a supporter of stable corners. The idea is good, so as not to come out in fiat in difficult times, but I'm not sure that a stable corner, however solid it may be, can cope with a wave of buying or selling.... The stories about tether and bitfinex have even done a lot of damage to the image of crypto...
Even though am not a fan of stablecoin, I still find them useful to the entire cryptocurrency communities if you know how to trade with them. I always switched to stablecoin when there is a dip on Bitcoin. Doing the conversion from bitcoin to stablecoin have helped me to save much from my loss and also, have helped me to save for the family too. The power of.my backup is in stablecoins and it help.
The network congestion might happen again but I think that the chances would be very low. Today, the network has improved a lot and those spams before I don't think that they'll be able to do the same thing that we've experienced last bull run. It cost a lot of fees because of them but if you want to transfer through stable coins or store your profit in there, it doesn't matter. But I don't mind transferring it through bitcoin without any intervention of a stable coin.
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?
One way or another to cash your money out, you need to convert it to bitcoin. Rather we only need to do this thing right? is this some acceptable alternative or no?
If there could be way for people to figure out how to cash out your money using tether that would be good.
But also, if you convert btc to stable, the value stays the same. And when bitcoin goes down, and you would like to cashout. The value stays the same when you convert it to bitcoin.
Only bitcoin could called stable coin because have good price every moment, with other coin like bch, doge, and bnb look do not stable price with lower. Bitcoin have potential become higher price and keep stable with moment where bitcoin become most profitable than other coin at the next time.
I take that you have no idea what a "stable coin" is. From the name itself, these coins are stable in value. The best example would be Tether. Bitcoin, on the other hand, is very far from being stable. Bitcoin is very volatile, which is the complete opposite of being stable. We've seen Bitcoin go up and down every single day. Your statement, though poses optimisms, is nonsense with respect to the topic at hand.
Only bitcoin could called stable coin because have good price every moment, with other coin like bch, doge, and bnb look do not stable price with lower. Bitcoin have potential become higher price and keep stable with moment where bitcoin become most profitable than other coin at the next time.
Actually, one of the best things that happened to crypto are the stable coins indeed. Its the fastest way to lock your gains in this domain, you can't actually gain in crypto (if you're a trader) based on selling your crypto to fiat directly, it simple won't work, because it take time, during that time lots of shit can happen.
Stable coins are great for those who knows when to get out & get in again during discount prices.
I agree, one of the best things created in crypto is stable coins. We all know that almost all of crypto tokens/coins have very high liquidity and for us to take away the liquidity is by buying stablecoins that are stables unlike bitcoin ethereum. But the problem is most stablecoins keep on minting their own token/coin that can fluctuate the total supply. I think this will be problem in the future that stablecoins will not be stable anymore. Stable coins are great for those who knows when to get out & get in again during discount prices.
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