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.
To be on a safer side whenever I am not trading my portfolio is exchanged to a stable coin preferably USDT, and after profit taking, purposely to allow my coins to be stable and avoid losses in any event of price dump of course I only kept the amount of coins for trading in my exchange due to the risk involved having all my coins in the exchange while excess fund is transferred to the bank as fiat to avoid touching stories associated with hacking of exchange, your idea might be suitable for hodlers but not ideal for a daily trader.