Topic: Alternative to USDT (Read 170 times)
stablecoin has the same function and by far the most popular is USDT although there are some problems regarding USDT but its use is still a lot and it is unbeatable by other stable coins, but usdc has gone up very rapidly and the amount in circulation is also very large.
I also suggest BUSD, USDC, DAI, and USDN are alternative to USDT.
Both are good to hold for preparation if ever the market drop drastically you have stable coins to buy your favorite coins during the decline momentum.
Both are good to hold for preparation if ever the market drop drastically you have stable coins to buy your favorite coins during the decline momentum.
In my opinion if these the best stable coin to be used
1. USDC
2. DAI (decentralized stable coin)
3. BUSD because this created by a very good company with very good reputation among the crypto users and various major crypto platforms.
I think that USDC is the best caused by it's also already integrated with big company like VISA
1. USDC
2. DAI (decentralized stable coin)
3. BUSD because this created by a very good company with very good reputation among the crypto users and various major crypto platforms.
I think that USDC is the best caused by it's also already integrated with big company like VISA
Yeah I agree with your opinion about USDC. But somehow I still can't trust Binance and their centralized tokens.
What makes you not believe in busd??
so far busd has not had any problems with users, moreover the withdrawal fee is relatively cheap. Binance is the biggest exchange today because it has great trust from users. By the way, since when did the usdt shady and why did the price drop?
Recently we see more news about Tether going shady and stuff and deep inside I know Tether will fall or get their asses in trouble with the government at some point.
This made me wonder which alternative stablecoin would be the best choice instead of USDT. I was thinking about USDC but it has adoption problem. AFAIK USDC can be bought only in Coinbase and Turkish exchange called BTCTurk.
This made me wonder which alternative stablecoin would be the best choice instead of USDT. I was thinking about USDC but it has adoption problem. AFAIK USDC can be bought only in Coinbase and Turkish exchange called BTCTurk.
I think BUSD and USDC are good alternatives But it has an adoption problem because it is not yet widely available on most crypto exchanges, But I hope it will be solved soon and it will be available on most crypto exchanges like what the USDT does. so let's wait and see how they will solve that problem.
The plunging cryptocurrency prices may pose a danger to various stablecoins. I know that in many cases the reserve funds were invested in BTC and other cryptocurrencies (although they are not supposed to do so). This was OK, when the crypto prices were going up. But now the prices have plunged below the $30K level, and this is going to create a few issues for the exchanges that mint stablecoins. The bearish market also means that more and more users will be converting their stablecoins to actual fiat.
In my opinion if these the best stable coin to be used
1. USDC
2. DAI (decentralized stable coin)
3. BUSD because this created by a very good company with very good reputation among the crypto users and various major crypto platforms.
I think that USDC is the best caused by it's also already integrated with big company like VISA
1. USDC
2. DAI (decentralized stable coin)
3. BUSD because this created by a very good company with very good reputation among the crypto users and various major crypto platforms.
I think that USDC is the best caused by it's also already integrated with big company like VISA
This is a very good list, at least the top 3 best alternatives that one can use instead of USDT, except that in many cases we are limited to the one which is being utilized by the platform we are using especially exchanges which most of them are into USDT still. I understand that there are really concerns and questions on the credibility of Tether, and I am really hoping that all of them can be resolved soon. We have to remember that if USDT will "collapse" it will be sending gigantic shockwaves throughout the cryptocurrency industry and can further erode crypto's credibility.
Why can't you trust Binance and their centralized token? doesn't Binance also provide stablecoins suitable for anyone in the crypto space to use?
try to give a reason for this.
try to give a reason for this.
You have already included the reason in your post. Like many of the other stablecoins, the BUSD is also highly centralized. This means that Binance can freeze the funds of any user, if they think that such a step is necessary. In fact, due to their design, none of the stablecoins can be 100% decentralized. On the other parameters, I agree that BUSD fares well compared to their competitors such as USDC or USDT. Binance is a more trustworthy exchange when compared to Bitfinex or any of the other exchanges which issue stablecoins.
Yeah I agree with your opinion about USDC. But somehow I still can't trust Binance and their centralized tokens.
Why can't you trust Binance and their centralized token? doesn't Binance also provide stablecoins suitable for anyone in the crypto space to use? try to give a reason for this.
The main concern was he does not believe in the centralized coin and that being said that he may think if binance can control it and that's why he could not trust the centralized coin.
it's free for anyone to trust or distrust even the trusted entity based on their personal opinion.
I was also doing the same thing as OP when im not feeling good with a platform.
In my opinion if these the best stable coin to be used
1. USDC
2. DAI (decentralized stable coin)
3. BUSD because this created by a very good company with very good reputation among the crypto users and various major crypto platforms.
I think that USDC is the best caused by it's also already integrated with big company like VISA
USDC, DAI and BUSD are good but USDT is the biggest stable coin. More stable coins are listed there https://www.coingecko.com/en/stablecoins.1. USDC
2. DAI (decentralized stable coin)
3. BUSD because this created by a very good company with very good reputation among the crypto users and various major crypto platforms.
I think that USDC is the best caused by it's also already integrated with big company like VISA
I use USDT when I need to trade but if I want to store with stable coin, I use DAI.
If I don't want to store with stable coin, I use Bitcoin.
I've rarely used USDT, I usually use BUSD, USD owned by binance, it's more reliable, and maybe it's the best solution, if at any time the government prohibits the circulation of usdt, then BUSD is the solution, besides, BUSD has a cheap transfer fee, even if it is withdrawn from binance it is free.
I don't know why everyone is so afraid to hold their funds in USDT, because this year there was already proof from USDT that they have no problems with either the SEC or other governments, and indeed most cryptocurrency investors hold their funds in USDT like I, well, of course, if you still don't trust USDT, then you can hold your money, for example, in BUSD or in DAI, and of course, a huge number of stable coins has appeared recently and you can easily find a suitable stable coin for yourself.
Recently we see more news about Tether going shady and stuff and deep inside I know Tether will fall or get their asses in trouble with the government at some point.
At the moment I don't see a fall in Tether and even Tether is still in the third position in the cryptocurrency rankings, so the news you convey seems to be questionable about the truth, because it could be fake news and deliberately circulated by some people. Recently we see more news about Tether going shady and stuff and deep inside I know Tether will fall or get their asses in trouble with the government at some point.
This made me wonder which alternative stablecoin would be the best choice instead of USDT. I was thinking about USDC but it has adoption problem. AFAIK USDC can be bought only in Coinbase and Turkish exchange called BTCTurk.
This made me wonder which alternative stablecoin would be the best choice instead of USDT. I was thinking about USDC but it has adoption problem. AFAIK USDC can be bought only in Coinbase and Turkish exchange called BTCTurk.
As you already said, we can not be sure anymore if every USDT is backed with a real USD anymore because they changed the wording back in 2019 from "every USDT printed is backed by a real USD" to "we have enough reserves to cover every USDT printed". USDC is a good alternative as it is "owned" by Coinbase and therefore audited regularly, so you can be sure that every USDC is still backed by a real USD. Also it is not true that you can buy USDC only on Coinbase and BTCTurk. There are FIAT/USDC pairs on kraken and BitAmp which means you can buy UDSC there directly from your bank account. And USDC trading paris with other cryptos are basically on every exchange so USDC is widely adopted.
There is no fiat stablecoin yet for other currency like Yuan or EURO but if there is, this could be an option for some of us because we all know stablecoin base on USD is not good to hold now because the value of USD is also affected by the inflation. I think there is a need for stablecoin like Yuan.
For now, there is no other choice you will have like TUSD, USDC, DAI and BUSD and these AFAIK can also be printed a million times.
USDC, BUSD and DAI are the alternative stablecoin of USDT.
I prefer BUSD. It has solid foundation by Binance and has good reputation so far.
USDC is the most preferrable alternative option of USDT to many crypto lovers.
I prefer BUSD. It has solid foundation by Binance and has good reputation so far.
USDC is the most preferrable alternative option of USDT to many crypto lovers.
In my opinion if these the best stable coin to be used
1. USDC
2. DAI (decentralized stable coin)
3. BUSD because this created by a very good company with very good reputation among the crypto users and various major crypto platforms.
I think that USDC is the best caused by it's also already integrated with big company like VISA
1. USDC
2. DAI (decentralized stable coin)
3. BUSD because this created by a very good company with very good reputation among the crypto users and various major crypto platforms.
I think that USDC is the best caused by it's also already integrated with big company like VISA
Yeah I agree with your opinion about USDC. But somehow I still can't trust Binance and their centralized tokens.
In my opinion if these the best stable coin to be used
1. USDC
2. DAI (decentralized stable coin)
3. BUSD because this created by a very good company with very good reputation among the crypto users and various major crypto platforms.
I think that USDC is the best caused by it's also already integrated with big company like VISA
1. USDC
2. DAI (decentralized stable coin)
3. BUSD because this created by a very good company with very good reputation among the crypto users and various major crypto platforms.
I think that USDC is the best caused by it's also already integrated with big company like VISA
Recently we see more news about Tether going shady and stuff and deep inside I know Tether will fall or get their asses in trouble with the government at some point.
This made me wonder which alternative stablecoin would be the best choice instead of USDT. I was thinking about USDC but it has adoption problem. AFAIK USDC can be bought only in Coinbase and Turkish exchange called BTCTurk.
This made me wonder which alternative stablecoin would be the best choice instead of USDT. I was thinking about USDC but it has adoption problem. AFAIK USDC can be bought only in Coinbase and Turkish exchange called BTCTurk.
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