A stablecoin is one type of cryptocurrency that is designed to maintain a fixed value over time. The value of a stablecoin is typically pegged to a specific real currency, often the U.S. dollar. In this setup, one unit of the cryptocurrency typically equals one unit of the real currency. That is, USD 1 = 1 USDT.

When it comes to cryptocurrencies, volatility is a major concern for most people. They want stability. People want to be able to use crypto coins to buy their dream house or go on their next vacation. They also want to be confident enough to use these digital assets as a store of value.

Thus, the need for stablecoins to maintain the value of assets is legitimate and not a scam. Some would even put their stablecoins to work by subscribing to USD savings to earn a yield of as much as 10% per year during high volatility or for crypto investors that have no time speculating on crypto prices.

The answer's easy, they're legit. Basically, stablecoins are far more valuable than popular volatile cryptocurrencies as an actual medium of exchange.

In my opinion, they will be the leaders of DeFi as regarding crypto. I became really convinced after reading this article: https://blog.bitmama.io/how-stablecoins-work/