ELI5: How do stablecoins work, what is their point if we…
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ELI5: How do stablecoins work, what is their point if we have actual fiat currencies, and how do criminals use them for their activities?
I don't get it. I understand cryptocurrencies. But what is the point of stablecoins? Wouldn't it be better to just deposit your money in the fiat currency right away?
Also, i have read that criminals use them now for transactions - probably it's main usage at this point. But how does that work if you need to identify as you soon as you want to exchange a cryptocurrency in a traditional currency?
#education
I don't get it. I understand cryptocurrencies. But what is the point of stablecoins? Wouldn't it be better to just deposit your money in the fiat currency right away?
Also, i have read that criminals use them now for transactions - probably it's main usage at this point. But how does that work if you need to identify as you soon as you want to exchange a cryptocurrency in a traditional currency?
#education
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