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Cryptocurrency discussions / Re: Understanding The Concept Of Stablecoins And Why They Are Important?
« on: August 12, 2020, 05:02:41 PM »
In addition to their usefulness in financial transactions, stablecoins can be used by traders and investors to protect their portfolios. Allocating a certain percentage of a portfolio into stablecoins is an effective way to reduce overall risk. At the same time, maintaining a vault of value that can be used to buy other cryptocurrencies during a drop can be an effective strategy. Likewise, these coins can be used to "lock" in profits earned when prices rise without having to withdraw them.