Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: Gposas on January 07, 2022, 12:38:12 PM
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I've been hearing of coins like USDT, BUSD and more coins being called stable coins in the crypto market. But why are they called stable coins and what makes them stable?
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Simple answer, it's pegged with real USD and price won't be fluctuate like bitcoin or other crypto. That's why it's called stablecoin and price is kind of stable like united state dollar.
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And again, we come back to the fact that stable coins enable cryptocurrency users to keep their capital safe and sound. Of course, the massive sale of cryptocurrency for example for USDT negatively affects the scene of the cryptocurrency itself. Nevertheless, despite many statements regarding gold, gold nevertheless reappears on the horizon as a profitable means of storing its assets.
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Simple answer, it's pegged with real USD and price won't be fluctuate like bitcoin or other crypto. That's why it's called stablecoin and price is kind of stable like united state dollar.
It is also worth clarifying that stablecoins can be pegged not only to the price of the dollar, but also to any other currency of states, as well as to securities, gold and other valuables that have a relatively stable price.
Stablecoins make it very easy to work with cryptocurrencies.
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A unique name that corresponds to the state of the coin's value that does not have a price change such as DOGE or Shiba coins.
The coin can be said to be stable because the coin's price does not change too much every time, thus making the BUSD and USDT coins keep the price stable.
I also rarely see stable coin price increases and decreases so sharply like other altcoins and maybe it's better if we have a stable coin when it happens in a Bearish market like now.
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I've been hearing of coins like USDT, BUSD and more coins being called stable coins in the crypto market. But why are they called stable coins and what makes them stable?
Stablecoins do not have the same high price volatility as decentralized cryptocurrencies. They are backed by the national currencies of the states and have their price, which is equal to these currencies of the states. That is, stablecoins actually have fiat volatility, which is much less than that of cryptocurrencies. Therefore, they are called stablecoins, since they have the stability of the fiat prices of states.
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Simple answer, it's pegged with real USD and price won't be fluctuate like bitcoin or other crypto. That's why it's called stablecoin and price is kind of stable like united state dollar.
Yes, absolutely that's it. Stable means not changeable or not variabe. So it has fixed rate/price, it will not rise or down anymore. For that reason its called stable coin.
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Stable coins were created so that you can safely store your investments in them, since the prices of Stable coins never fall and never grow, Stable coins always have one price and therefore when, for example, the cryptocurrency market falls and you don’t know where to store your money at this time, Stable coins come to the rescue.
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We can see that Fiat USD tends to be stable in price and nothing more like that for the cryptocurrency market which is always fair and transparent in terms of prices related to Fiat, so for BUSD and USDT coins, the price is definitely stable and has the right price like the one in the bank. .
So it can also be said that USDT and BUSD are the right coins that can be paired with the original Fiat in the Bank and they are our own assets in the cryptocurrency market that can be simply transferred by the owner of the private key.
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Changes in this stable coin are really very minimal and even for day-to-day it tends to not change at all and if there is any change it's only a little about 1% down for comparison.
The name is also a stable coin, so it means that it must prove that this coin is really stable and still in a very unchanged scope, even though the name is a stable coin, price changes will always exist.
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Like others have said, they are backed by fiat currencies, therefore their price consistently remain roughly the same as 1 unit of the currency they are tied to, for example 1 USD. It is useful to know about them as they are a good option when you are in between trades or sell something you've been holding and want to keep your money at a stable value for some time. Using stablecoins, you don't have to switch your cryptos back to fiat money.
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I like this kind of thing because I believe that discussions on the Altcoinstalks forum will raise the best rating for the main website from altcoinstalks.com and this should have been done long ago so that website traffic is good.
The discussion of stable coins is very minimal but if you look at the financial strength of this stable coin, it is very large and everyone understands very well how the asset is so big on Coinmarketcap.
For the name of the stable coin, I am free to say because I see the value of this stable coin does not change so quickly between rising and falling.
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Stable coins have a stable value and the price does not change at all and even if there is a very small change, it can be said that the coin is stable because Fiat trading is very stable and does not change much.
While the comparison with cryptocurrencies is very far away, even in 1 hour it can penetrate the price increase of up to 1000% or maybe more because it does not have a support to stabilize prices.
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Everyone has the right to what he says and in the altcoinstalks forum it's the same.
I'm sure that with the mention of stable coins there must be a factor going on.
The incident is that this stable coin has a price dominance that does not change much and even the price is stable.
That's why everyone is indeed BUSD, USDT, TUSD, USDC coins as stable coins.
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Everyone has the right to what he says and in the altcoinstalks forum it's the same.
I'm sure that with the mention of stable coins there must be a factor going on.
The incident is that this stable coin has a price dominance that does not change much and even the price is stable.
That's why everyone is indeed BUSD, USDT, TUSD, USDC coins as stable coins.
Yeah, I think I agree with you, why the coins called stable coins, because they don't change much , more stable at the value.
As we know stable coins such as BUSD, USDT, TUSD, USDC.
Those value are close to 1 USD.
Sometimes have change but not much.
Those are more stable than other and we can use it to estimate about pump or dump of other coins.
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because stablecoins offer price stability, they are specifically designed to have the same value as a currency
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if in my opinion why is this coin called a stable coin because this coin is racing on USD so this coin is very stable, logically if the USD goes up then this coin also goes up because this coin is also influenced by real USD money.
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1. They are meant to be stable - less volatile than other coins
2. They are a digital representation of their fiat equivalent allowing you to value your coins or tokens in reference to fiat currency
3. They are thus expected to exchange 1 stablecoin for 1 Fiat currency or real money
4. Their stability is a result of the assumption that since they represent 1 Fiat real money they will behave like real money.
5. Recent development has shown that not all Stablecoin follows this strictly and so use some debt and algorithm to back their stablecoin.
6. In other words using something inherently unstable to back something stable
7 That is why several providers have moved to what you will otherwise call Digital Cash
8. Digital Cash is the assured 1:1 100% cash-backed stablecoin.
9. You can do your own research for Digital Cash and also
10. Read my post "The Difference Between Stablecoin and Digital Cash"
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Coins whose value remains stable only come under the category of stable coins. Like usdt, BUSD, etc. They are also compared with usd.
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Now days stable coins in danger i think best stable coin is Busd because its binance coin so you can hold your portfolio in busd it will not down usdt any time can dump reason is to bitcoin to touch bottom this year.