Prize Clickers

Prize Clickers

Monday 17 June 2019

Some Coin info.

some coin info Coin Wallets
As I said in a previous post, both CoinBase and BlockChain have
added "stable coins". These coins serve a whole range of purposes
but I'm going to focus on one example.

> CoinBase and LiteCoin(LTC) chosen for this example but can be
    any coin supported. BlockChain may be similar to this example
    but has not been tested yet.

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Example

You receive $50 in LiteCoin but have no plans to withdraw/spend it.

Keep it in your wallet and the value will constantly go up and down.

If you are happy to gamble on the price, leave it there.
If you don't like any risks and want that $50 to be $50 at all times,
use a stablecoin.

A stablecoin lets you convert that $50 in LTC to a USD value of $50.
It will never be $100 or $10 due to market highs and lows, it will
always be $50*.

When you need to spend it, convert it back to LTC and you have $50.

Working

Last night I used the stable coin - USDC - in CoinBase to see if it
worked as expected.

If you want to convert any coin to the USDC stablecoin, click PRICES
from your members area.

Find the coin you want to convert from the list and click TRADE.

Now click CONVERT and enter the coin you have(from) and USDC(to).
Enter the USD value you want to convert and click the blue box.

You're done. You have now converted a coin to USDC. No fee.

Want to convert USDC back to a coin with no fee? Just do the same
as above but make it USDC(from) to your chosen coin(to).

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Need anything? Contact me.

See ya soon.

David. :)

*While USD stablecoins are pegged as close to the value of USD
dollar, there can be small fluctuations in price. Typically +/- 2%.