How Helpful Stable Coins Has Been To The Crypto Economy

Steady coins are Cryptocurrencies that are meant to have a stable value meaning it does not go down during the bear market and doesn't grow during bull market.
Examples include : Usdt, Busd, Usdc. In hive a prominent example is the Hive Dollar its price range it's constantly between $0.9-$1.0.
Despite the bear market when coins are converted to a stable coin from it's present price they stay like that that's one significant advantage of stable coins.

Source

Other advantages of Stable coins to the crypto industry include:

Increased usability:
Oftentimes I have paid to communities that take cryptocurrencies as their payment to receive an online course.
Because stable coins have steady value, they may be utilized for transactions such as purchasing goods and services instead of changing them to fiat currencies.

They function as pairings in trading (btc/usdt),(btc/busd):
To those trading futures, stable currencies are employed to trade either too short(sell) or long(buy) after anticipating the market. The earnings gained are also in stable coins.

[Screenshot from my binance app]

Price stability:
One of the key advantages of stablecoins is that they have a stable value, which makes them helpful for transactions. This is especially crucial in the crypto market, where values may be exceedingly volatile.
Stablecoins may offer a mechanism for people and businesses to make transactions without having to worry about changes in the value of their assets and to accept payments using stable coins as their worth are steady too. They also offer minimal transaction rate more than other other cryptocurrencies.

Less fear:
Stable coins enable you to have a piece of mind as your coins are already pegged at a value meaning they can't be lowered. Imagine purchasing a coin when the market price was $3 and when the market turned bearish the coin decreased to $1.5.
Selling at that present market price is a loss to you.

[ Screenshot from my coinmarketcap app]

More accessible to investors:
Stablecoins may create a bridge between the regular financial system and the crypto economy, making it simpler for investors to join in the crypto market and to trade.

Better for lending and borrowing:
Stablecoins may be used as collateral in decentralized lending systems, which can assist to enhance liquidity in the crypto market.

N/B: Screenshots taken from my apps to show the stable coins
Thank you for reading

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