Usefulness of stablecoin | Bitcointalksearch.org

tanjiran

full member

Activity: 770

Merit: 113

Quote from: BlacksmithCorporation on May 10, 2020, 11:09:16 AM

In theory, just like you described, keeping stablecoins waiting for BTC to go down to buy and sell at high prices, Stablecoins can help you quickly buy good prices. But the reality is the hardest part is that when BTC drops $ 3500, how many people are brave enough to buy it?

At that time, people buy stable coins to secure assets, to avoid greater losses while still being in the market. So when prices are conducive, they can quickly get their dream coins or tokens again.
Such an increase is very rare, we will lose many moments when only focusing on stablecoin. The key, use and get stable coins according to the right timing.

7788bitcoin

legendary

Activity: 2282

Merit: 1023

Quote from: Clement Kaliyar on May 10, 2020, 05:44:45 PM

There are local exchanges that supports your currency and i am comfortable holding that than these shady coins.

There is nothing wrong in holding the coins in stable coins for a short period of time, majority of the traders does that especially day traders and if there is a accusation that could doom the coin then it will be well documented and if that is the case then it is wise to stay away from it, until then it is fine to hold for short period of time and if you are trading in exchanges that supports Euro and USD then you can store your money in those.

Clement Kaliyar

hero member

Activity: 1302

Merit: 532

Quote from: DoublerHunter on May 10, 2020, 10:42:14 AM

it is still useful to save stable coins as it can help us when we need it on the best buying time.

It is good to have a stable coin that can be trusted but that is not the situation we have, almost all of the coins are shady at best and even recently millions of USDT are minted and you can only assume that they are holding the equivalent in banks. There are local exchanges that supports your currency and i am comfortable holding that than these shady coins.

gundala

full member

Activity: 896

Merit: 108

Quote from: Samayuki on May 10, 2020, 02:59:37 AM

~you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

No, this is not easy. Stablecoins tend to be stable prices, price movements are very slow. Need extra patience. Extreme changes occur when there are extreme changes in the market related to BTC, but it is not a routine and very unpredictable moment. If this is the only way you have missed another good opportunity.
The risk tends to be small if holding a stable coin, comparable to changes in low prices.

24Kt

member

Activity: 1092

Merit: 67

Quote from: Em00n01 on May 10, 2020, 05:01:27 PM

Yes this is very useful during the bear market. I have used it many times but only for short term. Because USDT is not audited by others third party organization. So for short term it's okay for hold and doing dat trade. But don't go for long term.

I will also do the same, not for long term. Do you remember when Tether admitted that they really have no 100% backing of US$? So I don't know about their real status but it is hard to trust a project that once had lied to its users. Stable coin may have benefits but don't hold it too long. It may collapse anytime so be prepared for it.

cytpoway121

member

Activity: 1540

Merit: 68

Stable coins are versatile coins and hardly can you get profits trading stable coins.

But they are safe havens, the fastest way to avoid a bear trap is by selling your portfolios to Stable coins.

The best way to buy the dips at the bear market is by holding stable coins and waiting patiently.

Either usdt or tusd, or busd, stable coins makes alot of stuffs easy while trading

Em00n01

full member

Activity: 737

Merit: 104

Yes this is very useful during the bear market. I have used it many times but only for short term. Because USDT is not audited by others third party organization. So for short term it's okay for hold and doing dat trade. But don't go for long term.

Gab20

jr. member

Activity: 714

Merit: 3

Apart from holding your Stablecoin until you see the market plunge, there some people who trade STablecoin ordinarily. So, while waiting for the opportunity to buy when the price of bitcoin becomes very low, they will continue to trade to make some little profit.
While others see it as not being useful, there are those who see the usefulness and are making use of it.

bitgolden

legendary

Activity: 3024

Merit: 1132

Leading Crypto Sports Betting & Casino Platform

I would say they are hated and they are crooks and they are corrupt and many other bad things, but at the same time I can't deny that stablecoins are very useful neither. I just love the idea of stablecoins a lot, however execution is horrible. Something as important as over a billion dollars in stablecoins shouldn't be let to some company, bitcoin has hundreds of billions of dollars but it is decentralized and there is absolutely no company that owns bitcoin or anything like that, neither does ethereum has that.

Only xrp is tied to a company called Ripple which is why I hate that too, and tether also is owned by a company and I think we should know centralized crypto currency like that and give tether company billions to be responsible for, if they steal all them money and run away, there is nothing we can do to them.

BlacksmithCorporation

full member

Activity: 438

Merit: 100

arcs-chain.com

In theory, just like you described, keeping stablecoins waiting for BTC to go down to buy and sell at high prices, Stablecoins can help you quickly buy good prices. But the reality is the hardest part is that when BTC drops $ 3500, how many people are brave enough to buy it?

DoublerHunter

hero member

Activity: 2590

Merit: 644

Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

^ Good idea but we still cannot predict when we will have the pump and dump on bitcoin's price. For whales, it is a good strategy for they can manipulate the trends in the market but for small investors who cannot predict the pump and dump on bitcoin's price then it will be difficult for them to know when will be the best time to use their stable coins and buy bitcoins. Nevertheless, it is still useful to save stable coins as it can help us when we need it on the best buying time.

Jancuki

member

Activity: 789

Merit: 10

I think stable coins are intended to secure assets only. to trade better on non-stable coins, because as we know, non-stable coins are faster to get profits. The risk is indeed very big, but as long as we can be careful and always update the news, everything is still possible.

Towerbreeze

member

Activity: 166

Merit: 10

Bitcoin price will always go up and down, it's 100% volatile so holding stablecoin is not bad at all, you can take advantage of both bear and bull market by buying back when bear is alive and selling when bulls comes around

rahmatullah9305

full member

Activity: 983

Merit: 100

Quote from: Crypto_lion on May 10, 2020, 04:05:36 AM

Ideally stable coins are usually backed by physical nassets equal to the value of them in circulation so that they can safeguard the holders against the volatility of the crypto markets.

Yes, that's why stable coins are often used by those traders to store temporary assets, because the value of stable coins that are always maintained and very rarely go down like other coins on the crypto market.

Serious475

full member

Activity: 574

Merit: 101

Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

Yes I think that in cryptocurrencies it is important to have backup plans because we dont know when the prices eill go up and go down because I xan say that here in cryptocurrency everything is unpredictable so we should always have backup plans incase there is something wrong and there is no bad that will happen fron that because I am sure that it will benefit yoy. I think that stavle coins is truly helpful during the times that bitcoins is down because peoole still earn money even though thet are only using stablecoins.

sangjoewara

full member

Activity: 1050

Merit: 100

Quote from: Mighty_crypt on May 10, 2020, 07:23:59 AM

For day trading stable coin is the right choice, what OP is trying to say is the time will always come for stable coin, buying back when time is down with stable coins will earn you double or even triple of more coins

Yes, obviously that is a good strategy for now, because storing assets in stable coins also benefits everyone, and will also give more coins if someone buys coins using stable coins when prices decline again.

thisnewcoin

full member

Activity: 406

Merit: 104

Convert Crypto at BestChange

I got your point and honestly, I agree with you! Converting crypto into stable coins in on time is a great idea! I saw many people converted their Bitcoin to USDT/USDC when the price was 8000$, then suddenly the price dumped highly and became 3800$! That time some of my brothers bought back Bitcoin at 4000$! and they were holding till yesterday! So, you see they already doubled their money! My strategy is same here, I just need more money to do so!

ReiMomo

sr. member

Activity: 2366

Merit: 305

Duelbits - $100k Bonus/week

Quote from: Samayuki on May 10, 2020, 02:59:37 AM

Holding stablecoin is the best strategy ever in crypto space, remember when Bitcoin drowned to 3500$? This is an example of good times to make good use of your usdt or other stable coins, you want to double your coins easily? Learn to hold stablecoin and wait for the right moment, that's bear market, bear market isn't always bad, it's most time a golden moment for those who hold stable coins.

Do you mean that USDT is good to hold than BTC? I think you are in the wrong perception. Stable coins are not good for holding in the long term because they are stable and you maybe will not earn profit from it. Unlike BTC, it will fluctuate every now and then, if you know how to manage this, for sure you will gain profit than holding USDT. Commonly traders are use stable coin in trading not for holding.

Google+

hero member

Activity: 2464

Merit: 550

Leading Crypto Sports Betting & Casino Platform

Quote from: mdzahed134 on May 10, 2020, 09:25:02 AM

Quote from: Crypto_lion on May 10, 2020, 04:05:36 AM

Ideally stable coins are usually backed by physical nassets equal to the value of them in circulation so that they can safeguard the holders against the volatility of the crypto markets.

Which assets backed by these stable coins i did not heard ever. Even though a lot of contradictory are behind all of such coins. These can support in the bear market to replacing in safe place, it’s a potential role of stable coins, without this case i don’t see other usefulness in the market.

I don't think there is any certainty what kind of coin has the support of a stable coin but I feel we have a semi-stable coin system which means it only has price movements depending on the movement of USD from exchanges in all countries.

mdzahed134

sr. member

Activity: 2226

Merit: 259

DGbet.fun - Crypto Sportsbook

Quote from: Crypto_lion on May 10, 2020, 04:05:36 AM

Ideally stable coins are usually backed by physical nassets equal to the value of them in circulation so that they can safeguard the holders against the volatility of the crypto markets.

Which assets backed by these stable coins i did not heard ever. Even though a lot of contradictory are behind all of such coins. These can support in the bear market to replacing in safe place, it’s a potential role of stable coins, without this case i don’t see other usefulness in the market.

Topic: Usefulness of stablecoin (Read 420 times)