I'm from Argentina and we have a 50%+ inflation rate, as you all know this is really bad. Worst of all, the goverment does not allow you to buy more than 200 dollars every month. So saving has become increasingly difficult given that the currency loses a third of it's value every year.

So in this context come stable coins. Tied to the value of the dolar, easy to buy and trade. Hard to get robbed on (unlike physical dolar bills). Basically they have given me the chance, and for other latin-american people, to save and plan for a future life. This also applies to people at Venezuela, who are having a much rough time.

So in conclusion, for most people in developed countries stable coins may seem pointless as you can have as much dolars as you want in your bank account, but for many people in developing countries like myself they give us a chance to shelter from the financial risks of our economy. Like americans use BTC, crypto and stocks to shelter from inflation in the USA, we want to shelter from our crazy inflation by buying dolars.

submitted by /u/arandom_econstudent
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