Why did crypto creators establish stable coins??

[Sake]

For trading purpose? For example when trading you bought a coin in the pair of BTC so the coin you bought have risen a lot but wait.. the Bitcoin is dropping.. what now? You're going to lose money. So instead use a stable coin to trade and save your money from losing value overtime

 

[Eodine]

The volatility I other coins in crypto currency as been an issue for some people coins like Bitcoin, ethereum, xrp have risen and falling in the previous years and let to loss or profit for some people which is why in thing stable coins were established.

 

[Chibson]

I think the main reason for creation of stablecoins is to avoid losses. Sometimes Akon may be losing so much value and of course for investors to avoid losses they have to convert it to stablecoin in order for them not to lose so much amount of money. So, the creation of stablecoin is a blessing to investors.

 

[Profwriter]

Stable coins help to build confidence in digital coins unlike unstable coins. While it's very exciting to discover that your coin has gained value over night, let's not also forget that it can loose value over night too unlike stable coins.

 

[mahdi304]

lets not forget that cryptoccurrencies were made for seamless and borderless transactions not just for investers and traders to make a profit out of them, stable coins can be a good way to send money overseas without much hassle if you've got access to a crypto exchange in your country, and the more used case for them is trading which i personally think works great.

 

[Mawome]

Well am yet to see any stable coin, and don't think there is anything like that, let me give some secret and reason behind crypto currency. Remember in business studies, the higher the demand the higher the price appreciate in. The same thing applies in the crypto world, ok look the impact on Bitcoin when Elon musk invested massively on the coin.

 

[Shivay]

Everyday I ask myself , what is the reason behind the creation of all this stable coin in the crypto market. When I know they aren't volatile in nature, and can't even appreciate nor depreciate. Their current state isn't a profitable one for investors, i don't see stable coins going higher either. Cos they work hand in hand with country's fiat currency, they increase only when the country they represent in the digital currency increases. That kind of increment can't bring profit to investors cos fiat currencies don't explode over night like the way volatile digital coins do.

What is the reason behind the establishment of stable coins?? when the coins won't be a profitable one for investors.

well , the creators want their coin to gain popularity and since the coin value is constant so it becomes a medium for cryptocurrencies traders to swap their currencies for safety purposes.

 

[Samuel77]

Well I don't really know why crypto establish table coin but I believe every business has its own strategy, this might be the strategy for cryptocurrency.

 

[Sincerem]

Well I don't really know why crypto establish table coin but I believe every business has its own strategy, this might be the strategy for cryptocurrency.

Stable coins serve as country's fiat currency in the digital world. They created the coins to reduced the high rate of volatility in other coins that us volatile in nature. So when you receive funds via stable coins the value of your treasury asset will remain the same.

 

[Justin]

This is one of the questions regarding cryptocurrency that I want to know. If staable coin is equal to the USD, what is the point of investing into stable coin. Can we actually profit?

 

[Sincerem]

The essence of introducing stable coins isn't for profit making alone. As the name implies, it keeps your funds stable in the crypto market without losing value.

 

[btaliat]

The reason for stable coins is that they want crypto traders to mitigate their loses. For instance, if a trader makes profits and he's not sure about the next step. He may decide to convert its profit to stable coins

 

[Senator]

This part of the dicusion what really gets to me. It was obvious that the knew that if they left their money in the volatile state they will end up losing so they had to create the stable coins as a barrier against such
[automerge]1619083894[/automerge]
This part of the dicusion what really gets to me. It was obvious that the knew that if they left their money in the volatile state they will end up losing so they had to create the stable coins as a barrier against such

 

[Muhammadawais]

A cryptocurrency known as a "stable coin" is one that is linked to a stable commodity such as gold or the US dollar. It's a global currency that's not linked to a central bank and has low volatility. This makes it possible to use bitcoin in everyday situations, such as paying for groceries.

 

[Kennysplash]

Everyday I ask myself , what is the reason behind the creation of all this stable coin in the crypto market. When I know they aren't volatile in nature, and can't even appreciate nor depreciate. Their current state isn't a profitable one for investors, i don't see stable coins going higher either. Cos they work hand in hand with country's fiat currency, they increase only when the country they represent in the digital currency increases. That kind of increment can't bring profit to investors cos fiat currencies don't explode over night like the way volatile digital coins do.

What is the reason behind the establishment of stable coins?? when the coins won't be a profitable one for investors.

I will say it is to protect the Fiat money. Many people want to save their money in cryptocurrency but are afraid that it might lose its value. But with stable coin there is nothing to worry about. If people save all their money in the bank inflation and bank charges will drain it all.

 

[Mostee501]

One of the main reasons for establishing stable coins in the cryptocurrency world is to minimize risks involved in other unstable coins.

 

[Niftyyem]

Stable coins are like havens for traders since they are not susceptible to the volatility common to all other coins. In fact they are so important that you can hardly do without them.

 

[MercySmith]

If you are familiar with crypto currency trading, you will understand the need for a stable coin like USDT or BUSD. One can easily exchange one coin for another with your stable coin.

 

[Nomad]

I think stable coins were created as a replacement of fiat currency. Every country has its own fiat currency, however a stable coin can be digitally transmitted with the involvement of a bank

 

[nimzy]

so far every country of the world has a different currency to which transactions are carried out crypto assists in stabilising fluctuations through certain mechanisms.