Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: Sonjoy on May 03, 2021, 10:26:04 AM
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We often talk about central banks creating fiat money. In fact, most fiat money is not created by central banks but by commercial banks. Furthermore, not all of the banks that create and hold fiat money are regulated banks. Many are what we know as “shadow banks.” In the cryptocurrency network, there is a whole shadow banking industry creating and holding fiat money, or something that looks very much like it.
Shadow banks are financial institutions that do bank-like things but aren’t subject to banking regulations. They include investment banks, non-bank lenders, money market funds, private equity and hedge funds, and insurance companies. They also include special purpose vehicles (SPVs), which are subsidiary companies created by regulated banks to enable them to do unregulated things. And they include banks headquartered outside the U.S., notably those in offshore jurisdictions.
More info: https://finance.yahoo.com/news/think-stablecoins-solid-remember-financial-194451574.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAJd_3o6BW0igiGgKqq14Vy0uhUvTOr5JCa1HzmdEE2j9J9nxxpMSmShQitbP8oLYRSnzoP9ncxklk57LM7im3NSoU-xRi3qHSNhksBkN3aktf40B7UgQe7qImoDfhu5GrPdjZiRT_lg6M2JiPiSyryO-egNsnNL6YxpMnujlLtSH
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I keep a few of my stable coins on Binance and I still feel safe to store stable coins on Binance and Binance is a reliable trading platform for now.
I keep BUSD because I use BUSD serign to get free coins from Launchpool and Launchpad on Binance and I think BUSD, USDT, USDC and PAXOS still have the strength of security from what people think negatively.
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I think it needs further understanding to solve the problem of stable coins because stabile coins is more complex now .
The stable coins are backed up by the original Fiat around the world and of course they also have the right money accuracy when coin creation is stable.
To be precise, I don't know what regulations secure price stability in the cryptocurrency market but one that certainly has the same reserve funds as the money circulating in the world when printing Fiat.
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I keep BUSD because I use BUSD serign to get free coins from Launchpool and Launchpad on Binance and I think BUSD, USDT, USDC and PAXOS still have the strength of security from what people think negatively.
Indeed, binance launchpool is a great platform for stablecoin hodlers which gives us great opportunity to increase our portfolio by farming new assets. Also, it's true that top stablecoins have the best security rather than what we think about it.
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BIDR is a FIAT that supports stable coins from the country I live in, namely Indonesia and BIDR are very much traded on the Binance Exchange and of course BIDR is a coin that has very strong security because it has fund defense from Binance.
BIDR is a coin that I believe will be a stable coin from Indonesia which has a large market cap in all cryptocurrency markets in the future. It's also possible to beat other IDR stable coins that have appeared in the cryptocurrency space.
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I am sure that this stable coin is very stable and has strong funding support from the #DevelopmentTeam . This is only my opninion because as far i know , stable coin not ever Dumping hard.
For example, BUSD is very strong in big finance from Biannce. Everyone knows that Binance is the number 1 Exchange in the market of Cryptocurrency space.
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Stablecoins are cryptocurrencies that claim to be backed by fiat currencies at a 1:1 ratio and aim at overcoming the price volatility by maintaining a stable value in relation to a state-issued currency. They are often used as a store of value or units of account, with payments being another popular use case.
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I am sure that this stable coin is very stable and has strong funding support from the #DevelopmentTeam . This is only my opninion because as far i know , stable coin not ever Dumping hard.
For example, BUSD is very strong in big finance from Biannce. Everyone knows that Binance is the number 1 Exchange in the market of Cryptocurrency space.
However, we cannot be completely sure about the private stablecoins and stablecoins of various commercial entities. All of them could eventually go bankrupt and our stablecoins could lose all value. Therefore, states and their governments will soon regulate the circulation of these stablecoins, and due to the fact that digitized currencies of the central banks of states will soon appear, such regulation will be rather strict. We have yet to see how digitized state currencies will be used in the cryptocurrency market. Some problems can arise here as well.
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I believe that it is not at all safe, because this is the same cryptocurrency, only its rate is tied to something and it is not volatile like other altcoins, which can almost depreciate in a day.
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As usually i use busd in binance exchange. I believe that my stable coins are totally safe. Binance authority give me the assurance of my stable coins assets. I user several exchange but i always try to deposit my assets in binance exchange. As early as possible if i deposit on this exchange i think my assets all are safe.
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I am holding my stable coin on Trust Wallet which is wallet of binance Exchange and i think my coin are safe on Trust wallet. And i am also Trust Binance for holding my crypto-currency.
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Stablecoin does not have flexibility, so market fluctuations do not affect it, their value is also stable. Stablecoins are always safe.
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I like to use USDT TRC20 although BUSD is also interesting, I usually store very few stable coins because I am always looking for new opportunities in the crypto market. I'm always interested in potential projects and I often decide to buy them when they're at a very good price.
I think I don't need to care stable coin problem.
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The Stop All Coin is a convenient coin that will keep the way you keep our profit. If we go to buy a coin with this coin but we convert this coin but we can buy the token, we are very good at it. We can do the job if we convert another leader, it may disappear at some point, but if we keep it through this installation, but it will remain clustered, so we consider Islam as a convenient coin.