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Author Topic: Why are stable coins popular in the cryptocurrency world?  (Read 378 times)

BenMilo

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Why are stable coins popular in the cryptocurrency world?
« on: February 12, 2020, 09:57:58 AM »
From the very beginning, the cryptocurrency market sways from volatility to scandals. But, with the inception of stable coins, cryptocurrency is redefined. Stable coins are not widely volatile like other digital currencies, designed to maintain a steady price. They are backed by fiat currencies, cryptocurrencies or precious metals. Stable coins have become a major source of liquidity in the cryptomarket.

Delgboke

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Re: Why are stable coins popular in the cryptocurrency world?
« Reply #1 on: February 12, 2020, 03:43:31 PM »
I can say the reason why stable coin are popular is that their are working based on peoples demand, cryptocurrency stable coin is what people really expected in the past when the cryptocurrency market where unstabilized, the cryptocurrency market where risen and falling, people were demanding for stable coins.
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Re: Why are stable coins popular in the cryptocurrency world?
« Reply #2 on: March 07, 2020, 01:04:20 PM »
because they are a great way to exit day trading and keep your earnings until the next day and also because if put in the stake they give high interest rates...

Yalhis

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Re: Why are stable coins popular in the cryptocurrency world?
« Reply #3 on: April 02, 2020, 11:36:20 AM »
And which cryptocurrencies are considered stable? As for me, not a single currency can boast of this property.

Maklert

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Re: Why are stable coins popular in the cryptocurrency world?
« Reply #4 on: April 05, 2020, 11:25:17 PM »
Because you can always rely on your investments if you have bought bitcoin, for example. Even if it can drop a bit or smth like that you can be sure that on the long distance you'll receive a great margin and earn a lot from your investments. And talking about other currencies their rate is changing almost every minute. For example that is one of the reasons why I use special aggregators like https://swapspace.co/ for a fast swap and not looking for the best course because that is almost impossible manually. 
« Last Edit: April 05, 2020, 11:41:35 PM by Maklert »

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Re: Why are stable coins popular in the cryptocurrency world?
« Reply #5 on: April 08, 2020, 05:45:31 PM »
From the very beginning, the cryptocurrency market sways from volatility to scandals. But, with the inception of stable coins, cryptocurrency is redefined. Stable coins are not widely volatile like other digital currencies, designed to maintain a steady price. They are backed by fiat currencies, cryptocurrencies or precious metals. Stable coins have become a major source of liquidity in the cryptomarket.

We are all aware that stable coins allows you to store your profits, your funds and it will be intact bar a small percentage difference.
Stable coins can be tether, busd , usdc and so on, but they offer same functions.

Another function of stable coin is that it enables you hodl fiat indirectly ahead of the bearish market, where you get to buy tokens for cheap

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Re: Why are stable coins popular in the cryptocurrency world?
« Reply #6 on: April 08, 2020, 11:53:49 PM »
Actually I don't really understand that people choose stable coins. It is the same as you save your money in dollars. You don't need crypto in that condition, it is saving, just go to the banks. If you have the intention to invest, stable coins are NOT a good option. Bitcoin, Ethereum, or other coins with high volatility are the proper options.

Blueblade

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Re: Why are stable coins popular in the cryptocurrency world?
« Reply #7 on: May 19, 2020, 06:26:22 PM »
Cryptocurrency is unpredictable and high volatility so everysec cryptomarket is moving up or down . So stable coin is need to cryptocurrency holders .

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Re: Why are stable coins popular in the cryptocurrency world?
« Reply #8 on: May 19, 2020, 09:54:00 PM »
Stablecoins are famous and used for hedge to cryptos and when market crash or dip is expected i know traders are making huge profits using these pairs. Secondly they are also used for payments due to no fluctuations in price.

 

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