Topic: Are there any real stablecoins? (Read 188 times)
I use 3 stablecoins for different activities, Tether TRC20 for transactions because it has the cheaper fees and quick transactions (most of the time I use Gate exchange because they charge 0 when withdrawing Tether in TRC20 network), I use BUSD anytime when I want to hold some amount when checking the markets for any profit opportunity in Binance because I am a day trader, I use DAI for holding large amounts when I don't want to convert my crypto to fiat.
DAI The fat is much better. According to what I have seen, this motor is gaining popularity as the days go by. I think it will become something better in the future. I hope it will be better in the future so I will use it in emu.
Tether is used by many and stablecoins are a rising market, but are they really stable?
What makes a stablecoin truly stable and what can we do to assure they are backed 1=1 unlike Tether.
You're right to ask that question because here's the neat part: they're not. There's no way of knowing that Tether or any other stablecoin is actually fully backed up with anything. So there's a good chance they're not or otherwise the company would surely be happy to provide the proofs and brag about it. That means, in turn, that it's all a very dangerous game that works as long as there's a lot of liquidity and trust in Tether. But if anything happened that suddenly motivated the majority to sell all their Tether and keep their belongings is other cryptos, it would probably lead to a disastrous explosion of the price. What makes a stablecoin truly stable and what can we do to assure they are backed 1=1 unlike Tether.
busd usdc usdt stablecoin that claim 1:1 I think it's enough to just hold fiat better than other stable coin in crypto market ,in my mind the average stablecoin takes profits too yes even though it seems a little but if you have large funds such as whales or companies then it feels big too ,and I in the cypto market take a lot of risk investing in unstable alt because the long term returns are satisfactory with the funds minimalist and economical
Tether is used by many and stablecoins are a rising market, but are they really stable?
What makes a stablecoin truly stable and what can we do to assure they are backed 1=1 unlike Tether.
So far, I'm using USDT, when the price goes up and down, since the price of bitcoin is still quite cheap, until the price is as high as it is today, the price of USDT remains $1. however, many stable coins out there like USDC, BUSD, and others, have the same way of stabilizing their coins, which is backed up with real money.What makes a stablecoin truly stable and what can we do to assure they are backed 1=1 unlike Tether.
even though it's like that, a lot of negative news like that isn't really backed up 100% or anything like that. So far I also don't know how to make sure of that. You can search for news about stable coin companies that may have been checked by the government or the private sector.
however, the years I used it, it was very stable.
All stablecoins are decentralized coins that exchanges or others have used and created so far. Which means that you need to know which one is the best by looking at who supports it. This is why I am most comfortable with BUSD right now, because it is backed by binance itself, unless binance screws up and destroys it, there is no situation in the world where BUSD would collapse. This is why I prefer that one.
I am sure there are some others that people would prefer based on who supports it, but USDT never made any logic to me, obviously it is high because that was the first one that came out and people used it and it became popular so it is harder to dethrone it right now. However, it is obvious that there were absolutely no problems with Tether at the time as well, nowadays Tether is looked a little bit more shady and that is why it is losing some credibility.
I am sure there are some others that people would prefer based on who supports it, but USDT never made any logic to me, obviously it is high because that was the first one that came out and people used it and it became popular so it is harder to dethrone it right now. However, it is obvious that there were absolutely no problems with Tether at the time as well, nowadays Tether is looked a little bit more shady and that is why it is losing some credibility.
Tether is used by many and stablecoins are a rising market, but are they really stable?...
A characteristic difference between a stablecoin is that there are centralized stablecoins and decentralized ones. I think you understand what this difference is? The first decentralized stablecoin on the Ethereum blockchain is DAI, which developers call the "hard currency of the 21st century".
When it was USDT all alone, you can have any doubt about it but right now we have many choices that came up from some of our trusted sources like BUSD and other reliable stable coins. There are lots you can do with the stable coins and one of the useful things you can do with it is when the market is congested and you cannot convert your altcoins to fiat, you can use stable coins temporary to preserve the original price of the price when it was at its ATH. Because the crypto currency market can be brutal sometimes when you are late for just an hour or two, the price might not be at ATH anymore, or worse it is reduced at half.
Tether is used by many and stablecoins are a rising market, but are they really stable?
What makes a stablecoin truly stable and what can we do to assure they are backed 1=1 unlike Tether.
What makes a stablecoin truly stable and what can we do to assure they are backed 1=1 unlike Tether.
I think the best way to do that is by checking the circulation and total supply of that stable coin, for example, the BUSD a Binance issued stable coin and they said that it was pegged with a dollar in 1-1 ratio and with a total supply of 13 Billion it was relatively small compared to Tether's USDT and because it was issued by one of the worlds trusted names in crypto that's why I feel secure when im using BUSD.
Plus, since I am using the exchange I don't need to go so far because they are targetting to pair it with other coins just like what they did with BNB.
Its volatility is very low and that's why it moves sometimes with lesser centavos than $1. But if you're going to use Tether.
I would second the suggestion that it's better for you to use the other decentralized stable coins like DAI.
I would second the suggestion that it's better for you to use the other decentralized stable coins like DAI.
Sometimes it is hard to trust stablecoins because we don't know the ultimate truth about their assets. Just like USDT, are we 100% sure that they are backed by USD assets up until now? If anyone remembers here, way back in 2019, Tether admitted that they were not fully backed. And now, do you think they are telling the truth here? So what I am saying is, it is good to venture in stablecoin if they do have actual backing. That is for you to learn more about their assets.
They might have real treasury and back up but if you like it, you choose to convert into decentralized stable coins. No manipulation, no sudden freezing and you can transfer whenever you want.
USDT, DAI, TUSD, BUSD, USDC there's a lot of stable coins it the market and they are all backed with real $ I'm not sure about the others I mostly use the USDT and I think you can find on their website how they were backed up by $ I just use it because many people use it and it has the most known stablecoins in the market.
Tether is used by many and stablecoins are a rising market, but are they really stable?
What makes a stablecoin truly stable and what can we do to assure they are backed 1=1 unlike Tether.
My favorite stablecoin is MIM, which is like DAI and Spell is the token that backs it. Holding spell is much more profitable than holding MKR and MIM has more liquidity on different chains than DAI. What makes a stablecoin truly stable and what can we do to assure they are backed 1=1 unlike Tether.
They will never be called as stable coin if they were not having stable value without being affected by the volatility that happened in the market. I think that you're missing something here but the problem is lack of transparency about the reserved funds to backed the stable tokens. All of the price of stable coin will be stable until the company can't prove if they didn't have reserved fund to backed it and that will make the price can plunged. As far as I know that if tether has ever got plunged so hard caused by that. The reserved funds have become a very important thing to make sure if the price can be stable or at least it removes the volatility.
The commodity that used to backed the token was the main thing to keep the value of stable coin become stable. Just try to read the financial report that published by the stable coin issuers.
The commodity that used to backed the token was the main thing to keep the value of stable coin become stable. Just try to read the financial report that published by the stable coin issuers.
Tether is used by many and stablecoins are a rising market, but are they really stable?
What makes a stablecoin truly stable and what can we do to assure they are backed 1=1 unlike Tether.
To assure that stable coins are backed by something, audits are organised. Actually, Tether has passed several audits, but it is still unclear wether it has this collateral or not. Nevertheless, people trust this coin and continue using it. As long as people use it, it will be stable. But in case of different officially confirmed bad news, people can start get rid of it very fast and it will lose its value. What makes a stablecoin truly stable and what can we do to assure they are backed 1=1 unlike Tether.
Tether (USDT) (market cap $62 billion) and USD Coin (USDC0) (market cap $ 27,3 billion) are, in my opinion, the most popular fiat-collateralized stablecoins today. Stablecoins are backed by commodities such as precious metals, gold, silver, real estate, or oil.
Experience shows that the USDT is relatively stable, but now there are alternatives to the USDC, BUST for example. If you want to trade in pairs to the dollar, it eats on many exchanges.
Now there are many choices for stablecoins in cryptocurrency exchanges, not only about USDC and BUSD, but there are also many others, only the most commonly used is USDT because there are so many pairs. 
Stablecoins are real, you can exchange them for local currency when you have them. Whichever created like Circle's TUSD, Gemini, Binance USD, Coinbase USDC and so on they are real. We just don't know if they are indeed backed by real USD.
While we are discussing stablecoins, I just wanted to insert this article about SEC wanted to regulate stablecoins.
They are still trying to regulated crypto, they won't give up that easily like China did that bans all areas of cryptocurrency.
SEC Subpoenas USDC Stablecoin Backer Circle
https://www.coindesk.com/business/2021/10/05/sec-subpoenas-usdc-stablecoin-backer-circle/
Its volatility is very low and that's why it moves sometimes with lesser centavos than $1. But if you're going to use Tether.
I would second the suggestion that it's better for you to use the other decentralized stable coins like DAI.
I would second the suggestion that it's better for you to use the other decentralized stable coins like DAI.
Sometimes it is hard to trust stablecoins because we don't know the ultimate truth about their assets. Just like USDT, are we 100% sure that they are backed by USD assets up until now? If anyone remembers here, way back in 2019, Tether admitted that they were not fully backed. And now, do you think they are telling the truth here? So what I am saying is, it is good to venture in stablecoin if they do have actual backing. That is for you to learn more about their assets.
Its volatility is very low and that's why it moves sometimes with lesser centavos than $1. But if you're going to use Tether.
I would second the suggestion that it's better for you to use the other decentralized stable coins like DAI.
I would second the suggestion that it's better for you to use the other decentralized stable coins like DAI.
Tether is used by many and stablecoins are a rising market, but are they really stable?
Yes, they are. All stable coins have been using the same mechanism. What makes a stablecoin truly stable and what can we do to assure they are backed 1=1 unlike Tether.
You have lots of options to be chosen as an alternative stable coin. USDC, PAX stable coin, and many more. The price of a stable coin was stable although it may drop a little bit it can still keep its value to be equal with dollar. You can always try to check the regular audit that will always be provided by any stable coin provider to make sure if that was fully backed equally with the dollar. I meant the reserver fund will be 1:1 with the total issued token or equally.
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