I think it is safe because many big investor store his fund in the form of Stablecoins .
But not anyone say its full safe because its a crypto not believe any thing any time do some thing new.
But Stablecoins usdt , busd , usdc , etc are very strong project hopefully you easily hold your fund in this form and easily you save your money and change your coin in to this form means you are safe and no any chance you loss your money.
Topic: Are stablecoins safe? - page 3. (Read 789 times)
nothing is 100% safe, but let's not compare stable coins with Luna... I didn't even know about the Luna before their fiasco, I saw the first complaints here and I was thinking "where did this come from?"! Who was crazy enough to go for some Luna, after reading about Luna I didn't see anything special there except some "big words". But people still invested heavily and many lost a lot of money.
Stablecoins are just stablecoins, in the end, we use them to "get in & out" from some coins/tokens, there's no reason to hold them for too long. Some of the stablecoins are around for years without any issues, so even though there's a risk we all use them and we will probably continue to use them.
We can compare them 100% for sure. Luna crashed because it was ran by people who didn't know how they should run a project, and USDT or BUSD or any other stablecoin could fail for the exact same reason. Just because they have managed to make it run so far doesn't mean that they will be able to do it again forever neither.Stablecoins are just stablecoins, in the end, we use them to "get in & out" from some coins/tokens, there's no reason to hold them for too long. Some of the stablecoins are around for years without any issues, so even though there's a risk we all use them and we will probably continue to use them.
I personally believe that the best thing about crypto is the fact that you could buy things that are decentralized and controlled by nobody, so to pick something that is purely centralized and at the hands of a company is not really a smart decision and the end result could very well be exactly like Luna for sure, and that's a big problem.
I don't think stable coins are that safe, especially after the fiasco of Luna and some other stables that depegged. But til a better option is available, it is the best tool we have right now in case of a DCA
We can't judge all the stable coins by Luna. Crypto market is uncertain and anything is possible here. But it is not like that stable coins are not safe. Yes, stable coins are not 100% safe but some stable coins are doing great and we can trust these coins. After all, self analysis and market research are highly recommend.Theoretically, stable coins should be safer than other crypto currencies (because those are subject to market volatility whereas stable coin is not) and supposed to be 100% (1-to-1 with reserves on hand) backed by fiat currencies (like USD, EURO) but the issue is, whether issuer is trustworthy and how to verify his claiming.
Conclusion: if the reserves of stable coin are verified by independent auditor, then it is safe to hold in portfolio.
https://moneymade.io/learn/article/safest-stablecoin
There is no guarantee that stable coins will be safe, learning from experience in the LUNA case, even stable coins can collapse if the main support collapses. I only use stable coins that have been proven to have a strong foundation, such as BUSD and USDT.
Stablecoins will only be safe if the issuer releases proof that they hold assets equivalent to what they put out in the market. They can easily write whatever figure they wanted written in there and people won't notice until someone in the group calls them out for it. Even big names like Binance and Tether need to be audited for their assets and their stablecoins. You cannot create money out of thin air, and it's easy to do that on stablecoins without a sweat, you just have to have some followers and a very promising and catchy offer.
There is no guarantee that stable coins will be safe, learning from experience in the LUNA case, even stable coins can collapse if the main support collapses. I only use stable coins that have been proven to have a strong foundation, such as BUSD and USDT.
I don't think stable coins are that safe, especially after the fiasco of Luna and some other stables that depegged. But til a better option is available, it is the best tool we have right now in case of a DCA
We can't judge all the stable coins by Luna. Crypto market is uncertain and anything is possible here. But it is not like that stable coins are not safe. Yes, stable coins are not 100% safe but some stable coins are doing great and we can trust these coins. After all, self analysis and market research are highly recommend.If your country has cryptocurrency legislation, then you can safely store Tether (USDT) and USD Coin (USDC) bought on the exchange, because these are the most common stablecoins. But the issuer can block your coins. Most of my savings are in DAI, because for now it is a reliable decentralized stablecoin, but I will not give you guarantees that this will not change in the future.
With an exception to other interests, I do not find DAI's choice and its reasoning credible. DAI is similar to Terrausd, that the coin value does not depend on a specific amount of money held in a bank or high-rate asset. BUSD stable Coin team holds over 2 billion dollars worth of bitcoin as of today, which appears to be a reliable source of funds and backup. I think dai is also much older than Terrausd. By the time Terrausd collapsed, other algo based stable coins have also followed but there are no reports that Dai is among with them. I guess that is enough reason for us to trust Dai. Being decentralized is also a good reason on why we must prefer it over the other centralized stable coins. Usdc is also a good stablecoin but im not sure about Usdt. Many people dislike this stablecoin.
I don't think stable coins are that safe, especially after the fiasco of Luna and some other stables that depegged. But til a better option is available, it is the best tool we have right now in case of a DCA
We can't judge all the stable coins by Luna. Crypto market is uncertain and anything is possible here. But it is not like that stable coins are not safe. Yes, stable coins are not 100% safe but some stable coins are doing great and we can trust these coins. After all, self analysis and market research are highly recommend. If your country has cryptocurrency legislation, then you can safely store Tether (USDT) and USD Coin (USDC) bought on the exchange, because these are the most common stablecoins. But the issuer can block your coins. Most of my savings are in DAI, because for now it is a reliable decentralized stablecoin, but I will not give you guarantees that this will not change in the future.
With an exception to other interests, I do not find DAI's choice and its reasoning credible. DAI is similar to Terrausd, that the coin value does not depend on a specific amount of money held in a bank or high-rate asset. BUSD stable Coin team holds over 2 billion dollars worth of bitcoin as of today, which appears to be a reliable source of funds and backup. I don't think stable coins are that safe, especially after the fiasco of Luna and some other stables that depegged. But til a better option is available, it is the best tool we have right now in case of a DCA
Of course, nothing is 100% safe, but let's not compare stable coins with Luna... I didn't even know about the Luna before their fiasco, I saw the first complaints here and I was thinking "where did this come from?"! Who was crazy enough to go for some Luna, after reading about Luna I didn't see anything special there except some "big words". But people still invested heavily and many lost a lot of money.
Stablecoins are just stablecoins, in the end, we use them to "get in & out" from some coins/tokens, there's no reason to hold them for too long. Some of the stablecoins are around for years without any issues, so even though there's a risk we all use them and we will probably continue to use them.
I don't think stable coins are that safe, especially after the fiasco of Luna and some other stables that depegged. But til a better option is available, it is the best tool we have right now in case of a DCA
Of course, nothing is 100% safe, but let's not compare stable coins with Luna... I didn't even know about the Luna before their fiasco, I saw the first complaints here and I was thinking "where did this come from?"! Who was crazy enough to go for some Luna, after reading about Luna I didn't see anything special there except some "big words". But people still invested heavily and many lost a lot of money.
Stablecoins are just stablecoins, in the end, we use them to "get in & out" from some coins/tokens, there's no reason to hold them for too long. Some of the stablecoins are around for years without any issues, so even though there's a risk we all use them and we will probably continue to use them.
I don't think stable coins are that safe, especially after the fiasco of Luna and some other stables that depegged. But til a better option is available, it is the best tool we have right now in case of a DCA
Until now I have never found a suspicious thing from the stable coin, stable coins are supported by many platforms such as ERC, BSC, Matic, etc., and until now I think stable coins are safe and worth making us to move assets when we are afraid of prices will drop .
You shall do a proper research again. There are so many suspicious things related with the stable token just like ability to ban and it can depeg from its value anytime due to the liquidity. The peg was not making the stable token became strong but the liquidity in the market that was defending the peg from token to the its reserved. It's not all of stable tokens were also safe. You shall remember if stable tokens were also being issued by human and it's not truly decentralized. I think that would better if you are starting to do another research again caused by so many stable tokens have been fallen like UST
At least the current stablecoins I think are not very safe. DAI may be better and has a bit of technical content, but USDT is really hard to say. I think there will be problems sooner or later.
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Storing USDT or BUSD in any wallet we can control will be safe.
It's not as secure as you think, USDT and BUSD are centralized, even if you store them on your non-custodial wallet, they can freeze your coins at any time. Currently, we only have one decentralized stablecoin, which is DAI and it is arguably the most secure.
But I do not have the plan to hold stablecoin for the long term instead trying to buy bitcoin when the price is down. For me, a stablecoin is just a temporary place to save the value of my crypto assets before I convert it into bitcoin.
That's right, during bear season stable coins are a safe haven for us, they are still essential for them but as long as we never hold them for long we should be fine.
Until now I have never found a suspicious thing from the stable coin, stable coins are supported by many platforms such as ERC, BSC, Matic, etc., and until now I think stable coins are safe and worth making us to move assets when we are afraid of prices will drop .
You shall do a proper research again. There are so many suspicious things related with the stable token just like ability to ban and it can depeg from its value anytime due to the liquidity. The peg was not making the stable token became strong but the liquidity in the market that was defending the peg from token to the its reserved. It's not all of stable tokens were also safe. You shall remember if stable tokens were also being issued by human and it's not truly decentralized. I think that would better if you are starting to do another research again caused by so many stable tokens have been fallen like UST
Storing USDT or BUSD in any wallet we can control will be safe.
It's not as secure as you think, USDT and BUSD are centralized, even if you store them on your non-custodial wallet, they can freeze your coins at any time. Currently, we only have one decentralized stablecoin, which is DAI and it is arguably the most secure.
But I do not have the plan to hold stablecoin for the long term instead trying to buy bitcoin when the price is down. For me, a stablecoin is just a temporary place to save the value of my crypto assets before I convert it into bitcoin.
That's right, during bear season stable coins are a safe haven for us, they are still essential for them but as long as we never hold them for long we should be fine.
Until now I have never found a suspicious thing from the stable coin, stable coins are supported by many platforms such as ERC, BSC, Matic, etc., and until now I think stable coins are safe and worth making us to move assets when we are afraid of prices will drop .
That might be the case but if you could just use the most used stablecoin I think you will be fine, but always diversify your wealth that's in stablecoin into some various stablecoin that way you'll be safe from sudden crash of stablecoin therefore you could never just lost your wealth overnight.
I think the key is how you manage this wealth in this case, everything has risk, even fiat money still have fluctuation and even gold could lose its value.
Well, the best thing to do is not to focus on stablecoins but rather make it spread to different coins - Bitcoin and some altcoins in order to avoid high risk. Though I say that we suddenly lost our trust in these stablecoins due to their past issues that we never expect, however it affects us mentally. Actually, it is too hard to bring back the trust when there is already a bad history but yes, I still consider some of these stablecoins can be trusted. The market is soo tricky and we need to choose coins for investment wisely. I think the key is how you manage this wealth in this case, everything has risk, even fiat money still have fluctuation and even gold could lose its value.
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You don't need to worry about whether stable coins are safe or not. Maybe what makes you feel insecure is that you are keeping stable coins on an exchange which could get you into trouble at any time. But if you keep stable coins in other wallets, it will be safer...
If you think that storing a stablecoin on your wallet is safe, then you should remember such stablecoins as UST, which lost its peg to the dollar and crashed. In that case, no matter where you stored UST, you ended up losing your money.
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