Stably USD Use Cases
During times of high market volatility, it is important to protect one’s capital. Instead of having to convert back into fiat, you can exchange your crypto for a stablecoin (USDS), which will hold its value and stay pegged 1 to 1 with USD. By doing so, capital will be protected and not subject to the whims of the often volatile cryptocurrency market.
A bridge between fiat and crypto
Many crypto exchanges don’t deal directly with US dollars (USD). This can be due to regulatory uncertainties or issues with legality. Instead of having a USD/BTC trading pair, many exchanges use a stablecoin as the base currency. Allowing values to be denominated in USD, without having to directly hold such funds. Stablecoins can be seen as a hybrid between traditional fiat currencies and the newer digital cryptocurrencies.
Payments and Remittance
With a stablecoin, merchants and customers can transact in a fast, secure and efficient way, without having to wait for the man-in-the-middle to process their transactions. Using a stablecoin as a medium of exchange also allows businesses and individuals to accept cryptocurrencies for payment, without having to worry about whether or not their crypto will gain or lose value while settling a transaction.
Stably USD (USDS) has all the positive attributes of conventional cryptocurrency. Transactions are settled within seconds, only cost a few cents, and are secure. USDS having the negative attributes of cryptocurrency such as volatility.
By putting the power of money, and cryptocurrency to be specific, in the hands of individuals and merchants, we streamline and simplify the process of buying and selling goods and services.
Power Decentralized Apps (Dapps)
Instead of using traditional cryptocurrencies, like Bitcoin or Ethereum as a currency on decentralized apps, Stablecoins like USDS would be a good replacement. The use of USDS as a currency would eliminate the volatility that is associated with other traditional cryptocurrencies. Stablecoins like USDS, are a hybrid of fiat & cryptocurrency. Stablecoins combine some of the best aspects of both worlds such as the low volatility and price stability of fiat, like that of the US dollar, and the speed, security, and efficiency of blockchain and cryptos.
Stably is a venture-capital backed startup that is on a mission to connect wealth from the real world to the blockchain economy and help bring stability to the volatile cryptocurrency market.
Author: Edward Siafa
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