Post
Topic
Board Economics
Merits 2 from 1 user
Topic OP
Stable coin or having USD in bank
by
_act_
on 01/09/2023, 10:33:59 UTC
⭐ Merited by philipma1957 (2)
I am nit talking about people in United States or European countries that are spending Euro, or UK or countries like Kuwait, South Korea or Japan that their currency are not inflationary like the local currencies in countries like Africa, South America, Asia or some countries like Turkey.

The people  in countries that have high inflation rate prefer to save foreign currencies like United States dollar. Stable coin was created and most people from these high inflation countries prefer to save stable coins instead.

If you have your money in banks, you do jot have the complete control. If you save stable coins, most of the are centralized and you do not have complete control and they can fall out if peg and be lesser than the money they are pegged with. Example of the pegged coin was Terra Classic USD (UST) which was $1 before but now $0.01186444

If bitcoin price have increased, I can decide to convert some to USD or stable coin. Which one is better? Or is there other alternative which can be comparable with bitcoin in a way it would be independent, having full control characteristic.