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Find Stability in Stable coins - How to avoid volatility issues in crypto

Some may not have heard of stable coins. Others may have been using them wrongly. You need to understand that most stable coins have their value tied to the value of a fiat currency such as the US Dollar. We support 5 stable coins: USDT,  BUSD, TUSD, DAI, USDC and these coins are almost equal to 1 USD.

To take advantage of stable coins, you need to understand how you may lose out from volatility. If you are buying or selling a coin and there is a delay from your bank or the network of your coin, this may cause you to run some losses when rate changes against you.

To mitigate these losses, it is important to buy a stable coin when you wish to buy a coin, then swap it to the crypto-currency of your choice when you are ready to buy a volatile coin or when the coin gets to the price you wish to buy it at. To sell a coin, also swap the coin to a stable coin, then sell the stable coin to us. This ensures that you do not lose money due to volatility. So instead of selling Bitcoin or Buying Bitcoin, you buy and sell USDT Tether.

Stable coins are not entirely free from volatility because they are issued by companies that are also exposed to business risks. Recently, an algorithmic stable coin UST proved that stable coins are not entirely safe. But they are still safer than most coins, especially when used for moving of funds to maintain a stable value, rather than as a store of value.

Page published 1 Year ago · 25 June 2021 21:59
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