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[Tappman]

Stable coins just reached a $20 Billion milestone. I don't understand why though. Do you own stable coins? Do you think they are a good investment? Do you trade crypto for stable coins when you think the crypto market is going to move down? Is that more cost effective than jsut using dollars? Please share your input. I have a lot of questions. I've looked into it online but I don't get it.

 

[Wisdom01]

Yes I own some stable coin and I do make use of stable coin like (usdt , pax )for trading with other crypto currencies , you can see it on different crypto exchange platform

 

[SCAMEXPOSER]

I don't think Stable coins are traded for profit rather they are use as an entry point for trading in the trading platforms, so the increase in their volume might be as a result of each trading platforms having it own stable coin.

 

[Rollerkid]

I don't think stable coins will rise in future because their market price doesn't varies.
You are right @De-rector. Stable coins are used as an entry point for trading in trading platforms.

 

[Balint098]

Maybe it's not that good for investment since the price is fixed, but it's still good for sending and receiving money to another country.

 

[SCAMEXPOSER]

You can't gain anything from Stable coins ,they are centralized and just like our normal Fiat currencies but I wouldn't know if forex traders can trade with them .

 

[onlyprofits]

I do not see them to invest in them, but they are very useful to protect against variations in market prices. It's good to have your capital in a stablecoin and be ready to buy a cryptocurrency that is trending upward.

 

[Rollerkid]

Maybe it's not that good for investment since the price is fixed, but it's still good for sending and receiving money to another country.

I think you are right. Stable coins are not good for trading as you said, but they are really useful and one should try saving them as his or her capital for trading. Because their value is stable, you will need them to buy other coins when those coins prices fall.

 

[vova11235]

I will always prefer stablecoins in cryptocurrency transactions, because I can combine the advantages of cryptocurrency and ordinary money, it is very convenient and reliable!

 

[onlyprofits]

We all agree that stable currencies are not for investment in trade, but if they did not exist we could not protect our capital. Now what can be the advantage of having so many stable coins appear?

 

[Wisdom01]

I don't think stable coins will rise in future because their market price doesn't varies.
You are right @De-rector. Stable coins are used as an entry point for trading in trading platforms.

Yeah they don't fluctuate I have some (Rub) currency that have been keeping for a while now , and I have seen stable coin been used as exchange in different platforms

 

[Brain]

I think you are right. Stable coins are not good for trading as you said, but they are really useful and one should try saving them as his or her capital for trading. Because their value is stable, you will need them to buy other coins when those coins prices fall.

Well stated stable coin are useful for the purchase of other coins as the time demands. If one can have them for keeps then no problem at least there are stable

 

[Rollerkid]

Yeah they don't fluctuate I have some (Rub) currency that have been keeping for a while now , and I have seen stable coin been used as exchange in different platforms

These are really the advantages of the stable coin. When you save them, you don't always have any fear in losing some value in them because they are always stable. These are also very good for buying cryptocurrencies when their prices fall.

 

[Wisdom01]

These are really the advantages of the stable coin. When you save them, you don't always have any fear in losing some value in them because they are always stable. These are also very good for buying cryptocurrencies when their prices fall.

Sure that's the advantage the only demerits I know is that when you want to convert those stable coin to your local currency then there might be a little fluctuations and difference in price

 

[Rollerkid]

Sure that's the advantage the only demerits I know is that when you want to convert those stable coin to your local currency then there might be a little fluctuations and difference in price

Yeah, that is very right. I think this fluctuations normally happen because the banks or the other exchanging sites normally take some amount as fee before converting these stable coins to the fiat currencies.

 

[Niftyicon]

Stable coins are just safe to keep your funds from being affected by market fluctuations, they hardly yield any profits so not to be used as an investment.

 

[Wisdom01]

Yeah, that is very right. I think this fluctuations normally happen because the banks or the other exchanging sites normally take some amount as fee before converting these stable coins to the fiat currencies.

It's not normally the fee been charged by banks or others , it's the fluctuation in price against the two currency you want to trade like for instance the price of $1 in Rand differs from time to time

 

[onlyprofits]

In my country the only way to exchange stablecoins for national fiat currency is through P2P exchanges, such as BInance P2P, most of the time the exchange is done by searching for buyers in secret groups on Facebook.

 

[Rollerkid]

In my country the only way to exchange stablecoins for national fiat currency is through P2P exchanges, such as BInance P2P, most of the time the exchange is done by searching for buyers in secret groups on Facebook.

Same in my country because our fiat is not tradable on exchanges. I used paxful for buying/selling with my fiat because it accept almost all fiat. You need to be careful because of scammers there.

 

[Wisdom01]

Same in my country because our fiat is not tradable on exchanges. I used paxful for buying/selling with my fiat because it accept almost all fiat. You need to be careful because of scammers there.

I have not use paxful before , but my friend told me that have a very strong security system to prevent scammers ,so I don't need to worry