Thanks for the addition! I've incorporated Bitcoin's transaction volatility as a key barrier to mainstream adoption—rapid price swings from supply/demand shifts make it unreliable for everyday use, unlike traditional mediums.
This pairs well with stablecoins' role in daily transactions: their pegged stability (e.g., ~$1 USD) enables practical buying/selling with minimal value fluctuation, bridging crypto to real-world utility without BTC's volatility risks.
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Stablecoins can be used for both offline and online purchases. In online purchases, Stablecoin as a payment option to avoid paying the transaction fees charged by payment gateways.
Stablecoins utility in payments
Stablecoins bring the best of traditional currency and the best of Bitcoin combined to the table.
Stable price
First, its price is stable - which is the goodness of traditional currency. For example, USDC is a popular Flat-Backed stablecoin whose value is tied to the US dollar. As the value of 1 USDC will always be equal to $1, it becomes convenient to use it as a replacement for traditional currency.
Thanks for the addition! I've incorporated stablecoins' utility in payments, including their role in online/offline purchases to bypass gateway fees, and how they merge BTC's decentralized benefits with fiat-like stability (e.g., USDC's 1:1 USD peg for reliable value in everyday transactions).
This enhances the coverage on stablecoins as a practical bridge between crypto's innovation and traditional currency's predictability, countering BTC's volatility for real-world use.
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Speed
Second, Stablecoin leverages the advantages of Blockchain technology. This technology makes the transaction happen in real time. Neither the sender needs to wait a few business days, nor the receiver needs to wait to receive their money.
Transparency:
Compared to traditional payment systems including bank transfers, and checks, transactions made via stablecoins are way more transparent as everything is logged on the blockchain, minimizing the risk of fraud. Not only is this helpful for the sender, but it is also helpful for the receiver too.
Thanks for the addition! I've incorporated stablecoins' advantages in speed—leveraging blockchain for near real-time transactions (seconds to minutes) without bank delays—and transparency, with all details immutably logged on the blockchain to reduce fraud risks compared to traditional systems like checks or transfers.
This strengthens the case for stablecoins' utility in payments, combining BTC's decentralized tech with fiat-like reliability to outpace conventional methods.
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Also, if the user is the sender or receiver from a place where banking service is less developed, Stablecoin acts as a perfect alternative to pay and receive money.
In addition to that, with Stablecoins, one can send the money irrespective of their region or territory. This reduces the hassles of currency conversion and currency exchange.
Conclusion:
We hope we have been able to settle the debate of Bitcoin vs. Stablecoins. Summing up everything, the final answer is in terms of stability stablecoins are far more stable than Bitcoin. Now for the query “Bitcoin or Stablecoins for payments”, as we discussed earlier, Stablecoin is much more convenient for daily use as a daily transaction medium than Bitcoin.
Thanks for the addition! I've incorporated stablecoins' accessibility in underdeveloped banking regions as a reliable alternative for sending/receiving money, plus their borderless nature—eliminating currency conversion hassles regardless of location.
This wraps up the Bitcoin vs. stablecoins discussion nicely: stablecoins win on stability and daily payment convenience, while BTC shines as a speculative store of value. Great contributions—database enriched!