Hi, I'm a normie who finally got into crypto in nov 2021. But I don't get stable coins. When you sell your crypto, why don't you just convert back to fiat and put that fiat into your bank account right away? I worry about stable coins becoming un-pegged; this is a big concern for me; it's an extra worry that you don't have if you just convert back to fiat right away.
I can see using stable coins as a trading pair to purchase alts on a dex but I don't understand holding stable coins for longer periods of time like weeks, months or years as a store of value; to me this feels way too risky. What am I missing?
Might be different if you could do a lot of your every-day normal shopping with stable coins but right now you can't.
Actually, withdrawing money from crypto wallet takes too much time and big commissions what is more, you will need to buy more crypto when there is a dip so personally I prefer leave my money in stable coins and wait for a moment to buy more cryptocurrency that I really believe in.
So as not to be so subjected to risks, you can just use different stable coins it means to diversify your money between USDT,USDC, DAI etc.