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As someone that holds a lot of stable coins (USDC, not USDT) The same reason you would hold dollars in a bank account. My local currency (GBP) is weak atm and
by shawabawa3 4y ago
As someone that holds a lot of stable coins (USDC, not USDT)
The same reason you would hold dollars in a bank account.
My local currency (GBP) is weak atm and falling against the dollar. I want to be able to use crypto services (easy transfers, buying/selling crypto, borrow/lend on DeFI), but I don't want any more exposure to the currently volatile crypto markets, so I hold a lot of USDC
Some of that USDC is being lent making ~2%, better than most banks. I can transfer it to someone else ~instantly and very cheap, instead of waiting 3-5 days for a bank transfer (I recently put some money in a crypto investment fund, transferred my investment in USDC)
- PKop 4y agoIt's surprising how many times the question you are answering gets asked and people still don't get it.
- birracerveza 4y agoYeah but crypto is bad, so why would I buy crypto? There's no reasoning to be had here.
- labrador 4y ago> My local currency (GBP) is weak atm and falling against the dollar That's an edge case that isn't a concern for Americans who are most enthusiastic about crypto and most involved in the crypto revolution. This is pointed out often and the crypto enthusiasts don't get it. Crypto for most of us is YAGNI YAGNI! Because you ain't gonna need it https://www.youtube.com/watch?v=fPJohxVLJu0 https://www.youtube.com/watch?v=fPJohxVLJu0
- louloulou 4y agoMaybe individuals are in a better position to judge whether or not they need something in their own lives. And if they use something, it's usually a pretty good indication that it is useful to them.