What is your opinion on stable coins? - page 8.

hamaravijay

copper member

Activity: 28

Merit: 1

Quote from: minairia3 on April 18, 2020, 08:56:46 AM

Stablecoin is used as a balance tool for market indicator. If other cryptocurrencies are down you can buy using tether and if the market is high you can sell it for stablecoin. It seems like you are using a direct converter as this is pegged on price of US also but it is not back up by US dollar. Im saying stablecoins are not minted for investment that you will hold and sell like stocks and other crypto but only a coin that will help you when you trade.

so you mean we can hold usd when ever we want to buy any crypto so we can use our stable coins right rather then depositing every time from our bank account..........?

But stable coins will same as like dollar......?

masterrex

full member

Activity: 1820

Merit: 107

Quote from: hamaravijay on April 17, 2020, 12:56:12 PM

Hello Crypto friends!

Recently i have known about tether and also facebook libra.

Is those worth investments or waste investments.......?

Because if facebook libra is stable coin then it is wrong investment choice because many crypto investors look for profit coins i mean unlike stable coins they will like coins which get profits.

In my opinion stable coins are bad to invest.

But facebook will change their decision regarding the libra stable coin or the libra coin will also like another tether.

Thanks!

You are right in some points, all those fiats backed stable-coins are not a good investment because it will not give you much profit. If that is what you mean, but if you are using the fiat back stable-coins for trading will it is not bad at all, since it can be traded in other stable-coins also, But there is another form of a stable-coin that was backed by 99.99% pure gold Like Gold Storage (Gold Token) if you ask me? I think it was a good investment because it was backed by real gold, with a real-time verifiable Gold Bullion storage in the BullionStar vault in Singapore and its price was pegged to the Gold market price. and it has good liquidity but you need to make up your mind if you need to invest in the volatile cryptocurrency or in the stable-coins back by gold, it's all up to you.

X-ray

hero member

Activity: 2898

Merit: 520

Leading Crypto Sports Betting & Casino Platform

Quote from: Little Mouse on April 18, 2020, 06:26:04 AM

What's the difference between a stable coin and tether, tether is another stablecoin. This does not make any sense to invest in stable coin. It can get changed less than or around 1% within 5/6 months, suddenly.
Stablecoins are good for people who used to trade regularly, they can fix their ROI in a downward market.

There was no differences between stable coin and tether, tether is a stable coin team and it's the same as another stable coin like USDC or something else. OP must need to learn more about what was the real definition of the stable coin. It looks like he was a newcomer in the cryptocurrency. that being said if OP needs more time to know the differences and the usefulness of stable coin.

minairia3

sr. member

Activity: 1498

Merit: 326

Leading Crypto Sports Betting & Casino Platform

Stablecoin is used as a balance tool for market indicator. If other cryptocurrencies are down you can buy using tether and if the market is high you can sell it for stablecoin. It seems like you are using a direct converter as this is pegged on price of US also but it is not back up by US dollar. Im saying stablecoins are not minted for investment that you will hold and sell like stocks and other crypto but only a coin that will help you when you trade.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

As it sounds, the stable coins have no volatile market prices and this makes the mentioned coins the liquidation center. The traders don't need to liquidate the positions for fiat money, they will hold stable coins for not paying huge commissions to the regular banks.

shadowdio

sr. member

Activity: 1876

Merit: 289

Zawardo

Of course, You can not make money with stable coins, you should go volatile coins like bitcoin, etheruem, litecoin etc.. About Libra coin seems it is just a dream, I don't think if they can launched libra coin this year.

rdluffy

legendary

Activity: 2226

Merit: 1304

Why are you thinking about investing in a stable coin?
The purpose of a stable coin is to help you keep your position in the market in USD for example, and you can trade with BTC easily and in a lot of exchanges
It's not an investment

Angemas

member

Activity: 137

Merit: 25

Stable coin is not for investment, and yes is waste your time if you doing that, For me Stable coin only for convert my profit, Nothing more and nothing less.

poodle63

hero member

Activity: 2702

Merit: 510

Leading Crypto Sports Betting & Casino Platform

Investing bitcoin is basically the same as investing to USD if the stablecoin is pegged to USD. It just hold no difference since the main reason why stablecoin exist in the first place is due to people demanding a way to save their money from the volatility of crypto not the other way around. You might aswell buy USD at this point.

Japinat

hero member

Activity: 2912

Merit: 674

Libra was not launch yet and I don't think they are already open for crowdsale, and I think what you've mentioned are stable coins, therefore you can't invest on it. Libra will be a big project but I think they have an investors already, they are called private investors, so there's no chance for us to invest.

I suggest you look for other potential altcoins, or invest with bitcoin as there's a big chance you'll be profitable when the market starts to be bullish.

20kevin20

legendary

Activity: 1134

Merit: 1598

Stablecoins are not changing in price, so they're as good as an investment as holding USD in your bank account is. In fact, stablecoins may be even worse due to the centralized aspect of them.

They can be used to, for example, swap from BTC to USDT if you are predicting that BTC is going to have a crash. In other words, it's like selling BTC for USD but without having to send and move any amount through any of your bank accounts. For short term trades, it's fine.

It's much easier to go through a stablecoin than through fiat (and removes possibilities such as having your bank account question your crypto moves), but stablecoins are usually critiqued because they aren't really cryptocurrencies but more of a portal between crypto and fiat..

NavI_027

full member

Activity: 1232

Merit: 186

Mate can you please clarify further. I can't understand few parts of your post.

Anyway, if I will choose between tether and libra, I will go definitely with tether. Aside from the fact that it was Ranked 4 at the moment (based on CMC), it has also a good reputation whoch is somehow opposite to Facebook's Libra. Yeah! I know it was well known and came from a large company but its name was put on a controversy thus having now a little bit bad image Grin

.

CryptoTech_

full member

Activity: 994

Merit: 106

Official Street Team member

Quote from: hamaravijay on April 17, 2020, 12:56:12 PM

Hello Crypto friends!

Recently i have known about tether and also facebook libra.

Is those worth investments or waste investments.......?

Because if facebook libra is stable coin then it is wrong investment choice because many crypto investors look for profit coins i mean unlike stable coins they will like coins which get profits.

In my opinion stable coins are bad to invest.

But facebook will change their decision regarding the libra stable coin or the libra coin will also like another tether.

Thanks!

Stable coins are not for investment, but only to secure your assets if you think the coins you invest in will fall in price. If you invest in stable coins you will not get a profit.

Little Mouse

legendary

Activity: 2072

Merit: 2012

Marketing Campaign Manager |Telegram ID- @LT_Mouse

What's the difference between a stable coin and tether, tether is another stablecoin. This does not make any sense to invest in stable coin. It can get changed less than or around 1% within 5/6 months, suddenly.
Stablecoins are good for people who used to trade regularly, they can fix their ROI in a downward market.

Becky666

full member

Activity: 756

Merit: 231

Stablecoins are the safety lands for investors who are trading altcoins especially. Stabelcoins help to reduce risk of looses if anyone have to be success in either trading cryptocurrency or investing into cryptocurrency. Personally, am a fan of stablecoins because am a trader and also, a potential cryptocurrency investor. During the bear market I usually have my ways in keeping my profits, if not all my portfolios into stablecoins to save lost either in a long-term or short-term purpose. Though, this method has helped me save many unforseen circumstances which would have lead me to lose.

memed97

full member

Activity: 1148

Merit: 101

Quote from: hamaravijay on April 17, 2020, 12:56:12 PM

Hello Crypto friends!

Recently i have known about tether and also facebook libra.

Is those worth investments or waste investments.......?

Because if facebook libra is stable coin then it is wrong investment choice because many crypto investors look for profit coins i mean unlike stable coins they will like coins which get profits.

In my opinion stable coins are bad to invest.

But facebook will change their decision regarding the libra stable coin or the libra coin will also like another tether.

Thanks!

The Libra Token from Facebook has not yet opened its price, so how can investors make investments there? and for a stable token it is indeed not appropriate to be used as an investment, but there is no risk for loss, so a stable token is more suitable to be used to store our assets in the market for a while.

noorman0

hero member

Activity: 1764

Merit: 694

[Nope]No hype delivers more than hope

During this time I doubt that Facebooks' Libra is included in cryptocurrency and is an asset that is really safe to hold regardless of whether the coin is stable or not. Because, Libra uses guarantor assets in the form of government bonds to bank deposits.
source: https://www.cnbcindonesia.com/tech/20200304175815-37-142538/apa-kabar-uang-facebook-libra-pesaing-bitcoin

Quote from: hamaravijay on April 17, 2020, 12:56:12 PM

_snip_
In my opinion stable coins are bad to invest.

Not all stable coins are bad to invest. There are several types of stable coins supported on have haven assets such as Gold.storage which are supported on gold.
I think you can distinguish the benefits of investing in fiat and gold.

Teraboy

hero member

Activity: 2282

Merit: 505

Stable coin can be considered as an alternative form for the fiat currency in the crypto ecosystem and it has a purpose to be an alternative payment system too. It will never become an invesment consider the value of stable coin was pegged to the fiat currency that used to backed the stable coin itself. You should search another coin.

passwordnow

hero member

Activity: 2968

Merit: 572

Leading Crypto Sports Betting & Casino Platform

They are stable coins and that means they are not investments because they don't increase their value. The price is always to be at the ranges of $0.99 - $1.0xx.
You have already said it that they are bad investments but you need to realize first that they are not investments but just a medium to avoid the volatility of your coin like bitcoin, Ethereum and others.

cytpoway121

member

Activity: 1540

Merit: 68

Well you need to understand stable coins specifications well.

Stable coins are not a form of trading markets; to me, stable coins are a store of wealth so that either today or 10 years time your 99.99$ will remain 99.99$.

Traders most time convert their profits to Stable coins.
While investor hodl stable coins while waiting for an investment opportunity in the altcoins market.

Stable coins are fiats, tusd, busd, usdt etc

Topic: What is your opinion on stable coins? - page 8. (Read 1496 times)