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Apologies here, but could someone ELI5: what's the appeal of a stablecoin? If I want to hold something in an asset pegged to the dollar, why not just hold dolla
by JoeJonathan 4y ago
Apologies here, but could someone ELI5: what's the appeal of a stablecoin? If I want to hold something in an asset pegged to the dollar, why not just hold dollars?
- mNovak 4y agoIt's the same reason you have money in a (zero interest) checking account rather than holding cash. For some that's the idea of security, others the convenience of spending "digital money" (e.g. wanting to do block-chainy things without risking the currency fluctuation of ETH or other coins).
- strikelaserclaw 4y agoand for others, its a way to evade taxes
- freefruit 4y agoEasy to send and trade a stablecoin. May also avoid tax in certain countries. Particularly useful in decentralized finance as it's on the same chain as the token you are trading.