The Unlucky Adventures of Lucky – Episode 10: The Stable That Doesn’t Gallop Away
If there’s one thing I’ve learned in my short but chaotic crypto journey, it’s that prices move faster than my neighbor’s gossip. Bitcoin is soaring like it just got promoted. The next time I make banana bread, it crashes more forcefully than the first time.
So when my friend Ada mentioned “stablecoins,” I was intrigued.
She remarked, “They don’t run off like the others do.”
I initially believed she was referring to horses. But no, she was referring to a stable kind of cryptocurrency.
Now Let Me Tell You About The Day I Almost Bought Pepper with Bitcoin
Last month, I tried paying a market woman with Bitcoin for a bag of pepper. By the time the transaction confirmed, the price had dipped so much that she looked at me like I was trying to shortchange her. That’s when I realized, sometimes, you don’t want your money doing acrobatics.
Stablecoins fix that problem.
So, What’s a Stablecoin?
A stablecoin is a cryptocurrency that’s pegged to a stable asset like the US dollar, euro, or even gold. This means 1 unit of the coin should always be worth about the same as the asset it’s tied to no dramatic mood swings.
Popular ones include:
- USDT (Tether) – Pegged to the US dollar.
- USDC (USD Coin) – Also pegged to the US dollar, but known for being more transparent.
- DAI – A decentralized stablecoin backed by crypto collateral.
Why Lucky Now Loves Stablecoins
- No Heart Attacks – Price stays consistent. ₦10k today will still be ₦10k tomorrow (barring small fluctuations).
- Perfect for Transfers – Send money without worrying about it losing value mid-journey.
- Great for Savings – If you’re in crypto but want to park your funds safely between trades.
The Plot Twist
Just when I was ready to go all-in on stablecoins, Ada leaned in:
“Remember, Lucky stability depends on trust. If the company or protocol behind the coin messes up, things can still go south.”
She told me about the infamous UST crash, a so-called stablecoin that lost its peg and left traders crying in multiple languages.
Lesson learned: even “stable” has fine print.
Lucky’s Stablecoin Survival Tips
- Stick to well-known, widely-used stablecoins.
- Always research who’s behind the project.
- Keep some variety, don’t park all your funds in one stablecoin.
And just like that, my crypto portfolio now has a “stable” corner. Sure, it’s not as thrilling as watching Bitcoin moon overnight, but when rent is due, boring is beautiful.
Next Episode: The Day I Accidentally Became a Liquidity Provider (and what I learned about DeFi).
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