WHY MANY PEOPLE DOESN'T LIKE STABLECOIN'S

WHY MANY PEOPLE DOESN'T LIKE STABLECOIN'S

By M.A Author | CRYPTO DISCUSSION | 17 Dec 2020


Ah the stable coin a crypto that saves you from stress of waking up one morning and seeing coin price went down by 20% , why would someone dislike something like that . 

Well the question raised because some of their's Like dislike ratio doesn't seem so good .

57cd0ceeeeee961ec4287d88807bf4fda70e695a399e3380b974060d9669d61b.png

 

 


 

TABLE OF CONTENT

 

1) Overview
2) Why people doesn't like Stablecoin
3) Good effect of stablecoin and it's acceptance
4) Bottom line

 


 

 

          OVERVIEW

 

When I say stablecoin what comes to your mind , a currency that always mirrors a hard currency or a specific price , Tether ( USDT ) , USD coin ( USD ) , Dai ( DAI ) , TrueUSD ( TUSD )  etc .

Since it's price doesn't change  it doesn't feel like a cryptocurrency . But that's not completely true the price can change but not freely as other cryptocurrency .

 

 

WHY PEOPLE DOESN'T LIKE STABLECOIN'S

 

As I said before stablecoin's doesn't feel like a cryptocurrency , It feels more like bank transfer or PayPal .

So those who are fully into crypto doesn't feel the need of stablecoin's they can just use paypal or other similar method . - Of course they rely on centralized order - but they have more acceptance than crypto    ( still ) .

And as I mentioned before because " it's price can't freely increase or decrease it doesn't feel like crypto " .      There is also a problem that it's price CAN go up or down , but just not freely .

Take Tetha for example , which is the oldest the most popular and used stablecoin and also it currently ranks 4th in terms of market cap among Crypto's .

It's price can decrease up to 5% , which is nothing for a normal crypto but for a stablecoin it's a problem , the only reason why traders would hold USDT is to store. There that 5% will have a huge effect .

After seeing this people's loses interest on stablecoin's . When they can just use PayPal or similar system's why people would bother with crypto who just want a reliable payment system . 

 

 

GOOD EFFECT OF STABLECOIN'S AND ITS ACCEPTANCE

 

there is good reason for those who dislike stablecoin's . But stablecoin's does have good effect on crypto community . 

Like I said before people who are fond of crypto like crypto traders can hold their fund on stablecoin when things seems rough . Beside that it optimizes their treading and in ways . 

It can also attract new members to the crypto community , when I looked into why many people avoid crypto it turned out that it's the rise and fall of crypto price , but stablecoin's does really have this problem just like it meant to be .

And recently as more and more people are hearing about crypto , if it does become the future payment system it will bring instability in market , so there needed to be a way to solve that problem if we wanted to accept cryptocurrency as the future payment system . And stablecoin seems to be a great way to fix the problem .

 

But it seems it's not the idea of stablecoin that people dislike or don't support it's rather certain individual stablecoin which seems to be not liked by people for reasons . 

Cryptocurrency can't really become a global future payment system without the ideal stablecoin . Since we already have payment system as PayPal , it will be really hard to defeat them without stability in crypto value .

 

 

     BOTTOM LINE

 

Personally I like stablecoin and I don't have to take out my crypto funds to keep profit or stop loss I can just exchange it to any stablecoin without needing to go through the process of cashing out my funds , because I will have or I may need to invest in again , then I will have to go through the process of buying crypto . And stablecoin can help easily to simplify things .

 

I personally like stablecoin but I don't really store them , but they definitely help simplifying treading . And I think there is a good possibility crypto will have huge market share of business with stablecoin.

 

 

 

How do you rate this article?

3



CRYPTO DISCUSSION
CRYPTO DISCUSSION

In this blog I will be discussing about different Crypto's time to time .

Publish0x

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.