Quote from: Cryptofamele7 on June 08, 2021, 01:50:39 PM

Stable coins are cryptocurrencies that try to offer the price stability with backed by reserved assets like USD, GOLD etc. In cryptocurrency, stable coins are created to solve many issues related to volatility and amplify to provide more utility. Stable coins are used as a method of parking money during the trade. It is also used as a base currency like USD. The first and foremost aim of using stable coins is to maintain stability that will help traders to retain their portfolio value against volatility. Traders, holders and users can know their portfolio value or transfer value with real assets like USD, EURO or Gold. In times of need or when traders or investors think this is time to stop their trade and keep their value before volatility, they can exchange their cryptocurrencies with stable coins. Job holders in cryptocurrency related firm can get their salary on the basis of stablecoins and remittance fighters can use it to send their remittance to their native countries within few minutes.

Stable coin is like a safe storage of what you have in cryptocurrency to make and maintain the value that you have. That is why stablecoin plays a vital role in cryptocurrency to ensure that the fund that every crypto enthusiasts have will be safe once they convert all their hodlings into a stablecoins.