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Stable coins can be profitable.

  • Thread starter Thread starter ahmedo24
  • Start date Start date
Shigobad2020 said:
Thats a wonderful piece of information you just shared with me , I am a novice and trying to know better , that i can hold my stable coin for a long time and even lend it out to a third party.
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Yes, if you have enough, and you're using binance, you can enter into lending service and loan your USDT coin to third party and make your money from the interest.
 
There is not much to profit from stable coins. IT is something like investing in USD and you earn when the value of USD goes up compared to your local currency. If you want to invest in crypto currency, invest in crrencies other than stable coins because that's where you will profit.
 
ahmedo24 said:
The stablecoins are known to be coins with fixed value that is they don't go be on $1 but I discovered that one can still make money from disc stablecoins in the sense that the exchange rate for the dollar currency varies from country to countries and they are not so stable so if one has enough stablecoin when the price is low to your Local currency you can buy more when sell when the price increases. Share your views
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We can also profit from stable coin trading against country currency and also crypto currency. And sometimes we can trade against other stable coin because there price do fluctuates
 
Nomad said:
There is not much to profit from stable coins. IT is something like investing in USD and you earn when the value of USD goes up compared to your local currency. If you want to invest in crypto currency, invest in crrencies other than stable coins because that's where you will profit.
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You are right, the profit may not be much sometimes and you could also make loses because it is more like forex trading so without signals decision could be difficult.
 
You'll profit from stable coins when you're lending it out using a legit exchange platform like Binance. With binance you can lend and get your ROI.
 
Josemendez said:
Stable coins are profitable because they are used as a store of value against Volatility of coins and they are also used as trading pairs for cryptocurrency trading .
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Of course they are profitable as you said but not everybody knows because most people are not financial literates but if you are you can know.
 
That's almost related to forex , yes you can gain by holding a particular currency and when it have a double increase in value than your normal currency you make more gains
 
Saving your money and foreign pegged stablecoins can be very profitable especially if you are doing so to escape from spending in useless currencies like naira.
 
Stable coin cannot make you lose your value worth of your coin only if you are very slow at making the swaps. If you make the swaps fast enough, your cryptocurrency will retain Its value with your local currency without you bleeding I'm any form of loss.
 
Stable coins are definitely a way to make money. These are coins I'll take interest in as investment vehicles because theirs is more sure. Volatility is less and even if growth is slow, you are assured of holding profitably
 
Nomad said:
Can anyone explain to me how can stable coin become profitable? Since the price is always same, how can we actually profit?
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There is nothing that you can profit from stable coins. I have tried trading in Binance with the pair of USDT/GBP or USDT/EUR. They are the stable coins in Binance exchange platform that I have tried trading from. I stopped trading from these stable coins because there is no volatility. The fluctuation in the prices is very little.
 
Senator said:
Stable coin cannot make you lose your value worth of your coin only if you are very slow at making the swaps. If you make the swaps fast enough, your cryptocurrency will retain Its value with your local currency without you bleeding I'm any form of loss.
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You're very right. If you delay in the process of swiping the coin you deposited to stable coin, that is when there might be a chance of suffering a loss
 
ahmedo24 said:
The stablecoins are known to be coins with fixed value that is they don't go be on $1 but I discovered that one can still make money from disc stablecoins in the sense that the exchange rate for the dollar currency varies from country to countries and they are not so stable so if one has enough stablecoin when the price is low to your Local currency you can buy more when sell when the price increases. Share your views
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You just brought my notice to that... I never for once think about this before... But which other stable currency can one trade without trading local currency
 
Dowenship said:
You just brought my notice to that... I never for once think about this before... But which other stable currency can one trade without trading local currency
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I don't think there is any stable coin that can be traded without involving Local Currency except you will be trading against cryptocurrencies.
 
Although Stablecoins can make gains that occur due to the decline in the value of the country's local money compared to the USD, it occurs because inflation is almost every year but is relatively small because it is controlled by the central bank.
 
Suba said:
Although Stablecoins can make gains that occur due to the decline in the value of the country's local money compared to the USD, it occurs because inflation is almost every year but is relatively small because it is controlled by the central bank.
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That is the weakness and when we always trade stablecoins for Fiat currency for countries that have high inflation rates and their local currency value is not really stable.
 
That is a great investment method that can work really well with the use of stable coins. But it needs you to be very patient as it may take a while for price increase to occur.
 
Stable being profitable is a good one because they are usually not, if profits I the goal like it usually is then investing in stable coins outrightly is not the smartest of moves as there are better options
 
ahmedo24 said:
That is the weakness and when we always trade stablecoins for Fiat currency for countries that have high inflation rates and their local currency value is not really stable.
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Of course, local currency is not stable, because of high inflation, it will be worthless when compared to Stablecoins which are pegged to USD, so this is one of the benefits of Stablecoins that can be used as a hedge against local money.
 
Stable coins are coins that helps to hold our cryptocurrency assets in a stable form from the fluctuating effects of the coins. They help protect our coins from losing its value
 
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