this post was submitted on 30 Jan 2025
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Not sure why your down voted. I have used them before to transfer money and works fine. It's exactly why it exists. I wouldn't store money there, but for transfers and transfer out, they work perfectly fine.
It's because supposed stablecoins often also end up being scams.
Yeah, i get that. But the 2 mentioned are fine and not going anywhere unless something catastrophic happens. I wouldn't use some sketchy ones either.
Lol Tether a company that claims to have $100 billion in reserve to back its currency but has never had an audit. Nothing sketchy about that at all.
It's been around for 9 years now. I use it sometimes for transfers, and that's it. It's not an investment I'm looking to throw money into and hope it doesn't go belly up. If you really look, I'm sure you're right. Probably all of them do some level of unethical to illegal activity. I am just commenting on the fact that to use the stable coins for transfers it's going to be pretty safe and I am not worried about it, unlike the pump and dump coins that pop up.
Lemmy fuckin hates crypto lol
anyone with a functional brain and a flash of cognitive self awareness hates crypto.
cause its a fuckin scam designed to screw over rubes.
Guess what buddy, Fiat currency is a scam too & Govts have recognized the legitimacy of CryptoCurrency via implementing CBDCs
a lot of people on here are geezers and don't understand it. they are literally calling USD (the actual currency of the United States!!!) a pump and dump scam. thats all you need to know.