@Telesfor
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I regret that Bitcoin has become an object of speculation. Because Bitcoin has become an object of speculation, all cryptocurrencies have become an object of speculation. Bitcoin Cash too. The high price fluctuations make adoption difficult. It is not practical for a merchant to sell something for $100 in BCH during the day, but in the evening the eingenome BCH might only be worth $90. A temporary remedy could be stablecoins. BCH can be exchanged for the SLP version of Tether easily in the Bitcoin.com wallet, but the price is unfavourable, you get about 5% less for your BCH than the current price is. Furthermore, I have no confidence in Tether because it is like crypto-fiat money, it seems to be minted infinitely. A better option seems to me to be flexUSD. FlexUSD is available as SLP and ERC20 variant. Using the ERP20 variant is not practical because the ETH transaction fees are too high, but you can use the SLP variant very well because it has the very low Bitcoin Cash fees. FlexUSD is pegged to USDC. USDC seems to me to be much more trustworthy than USDT. FlexUSD can be exchanged on CoinFLEX. On Coinflex you can just log in with your metamask, you get good price for your BCH, you can withdraw BCH and FlexUSD for free, when depositing you only need a confirmation and for flexUSD there is even interest. All in all, I like flexUSD. It could be temporary as a remedy to the fluctuation. But there should be an easier way for merchants to exchange BCH for flexUSD (and vice versa). At the moment, BCH has to be exchanged for UDSC first and then USDC for flexUSD. #BitcoinCash #BCH #Adoption #flexUSD
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I didn't notice the 5% difference in current market price and the swap price the first time i converted Some BCH to Tether on Bitcoin.com wallet app. @Fexonice1 was the one that brought it to my attention. This post is useful for all,especially merchants accepting BCH. It helps to tackle the issue of market volatility. Though the coinflex procedure is long. It's a good option pending the time Bitcoin.com will provide a better stablecoin. So painful this post is on a channel and can't be renoised.
Why can't this post be renoised? What message do they get?
Posts on channels cannot be renoised
This appears.
Yeah that's exactly why people aren't using it too much. Value fluctuations happen too often unlike if you have one currency you can use and not bother with the change that much. Don't know much abt stable coins though. Might check on that too.