Said to be crypto’s killer application. It dominates about 70% of on-chain transactions. Let’s talk today about what stablecoins can offer you:
First painpoint stablecoins solved is remittance. A much faster and cheaper alternative to traditional methods. Hard reality: You could pay $40 in fees and wait four days, only to hear that the money still hasn't arrived! 🙂 With stablecoins, you can send and receive money almost instantly, with minimal fees, and it's as easy as texting. Plus no minimum or maximum balance, and it’s 24/7 open.
Pay for goods and services where stablecoins are accepted as a method of payment. Acceptance is rapidly increasing, with giant payment players such as Visa, Mastercard, PayPal, and Stripe supporting stablecoins. Also you can get paid in stablecoins if you’re freelancing or employed overseas, earning stablecoins means earning a stable value like USD. 💲
In regions where local currencies are plummeting, stablecoins provide a reliable safeguard for your savings. It’s cruel that years of hard work can be wiped out through no fault of your own. By converting your volatile local currency into stablecoins, you protect the value of your money from inflation and save yourself the fear of losing its worth overnight. 🔐
Stablecoins allow you to easily access DeFi protocols where you can create halal passive income sources. E.g. liquidity provision: Depositing USDC and $ISLM in a liquidity pool in a DEX like Sushi can earn you up to 15%. This is an effective way to put your stablecoins to work in environments that yield higher than traditional bank methods.
Crypto traders can use stablecoins to exit volatile positions and lock in profit, without needing to rush converting back to fiat, which can be a pain sometimes. 😵💫 Works well for short-term holding between trades, allowing traders to maintain liquidity and quickly re-enter when new opportunities arise.
💬What kinds of purchases do you wish you could make with stablecoins? Tell us in the comments