Be careful with new projects that introduce new Stable coins

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Quote from: Charles-Tim on December 30, 2022, 04:16:44 AM

Quote from: Outhue on December 30, 2022, 03:41:57 AM

Be sure to understand how a Stable coin is designed before storing your assets using them, most stable coins have failed since last bear market season, from USDN to UST and USN, there are many more that I don't mentioned.

There were many that failed even before the last bear market season, some has been failing many years ago and they are mostly algorithmic stable coin if not all are algorithmic stable coins. People were warned of stable coins like UST the were algorithmic that were later created not quite long. Many failed again as usual.

Honestly, it's the Newbies and the people who are not well experienced in the stablecoin market that needs to be careful because there's no way a stablecoin relies on a volatile crypto asset to support its aforesaid stablecoin won't fail. This is the reason why I never liked Luna terra and their stablecoin right from the beginning but the hype involved has blind a lot of crypto users.

Utopia USD (UUSD) is a stablecoin soft-pegged to the U.S. Dollar that features instantaneous transactions at low cost. UUSD transactions are completely private and do not reveal any identifying information.

Quote from: Hispo on December 31, 2022, 08:16:51 PM

I had kept an eye on the USDN (Neutrino USD) since a while ago because I indeed expected it to lose its peg after the collapse of Terra-Luna, months passed and nothing happen. After reading OP I went to check the situation with that stablecoin and indeed it has lost its value for over 50%. People do not learn when comes to logarithmic stablecoins.

I agree with you, of course, for now on I'll check USDD often to see what happens to it.
Personally, my preferred Stablecoin is DAI.

USDN is another failed algorithmic stablecoin right from creation if you know about its birth of it but USDD is not an algorithmic stablecoin, is it?

I prefer USDC, BUSD, and DAI, but I like UUSD more. Because it's the only privacy stablecoin we have in the entire cryptocurrency market and it is the stablecoin I swap all my USDT into after the news of Tether's confiscation of about $500 Million USDT at the regulator's request happened last year.

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Quote from: Hildentine on January 03, 2023, 02:14:00 PM

In this case i said that i totally agree of this statement because in this time many new projects are coming and those people who trust in those projects so they easily scam with there users.
So be careful and use only those Stablecoin which we use a long time.
I can't say that every Stablecoin are fully secure but usdt , dai , usdc etc are a trusted coins so use this.

If those new projects are using such stablecoin I think it will be fine but if they are going to introduce their own stablecoin, that could be the start of the red flag and you should not invest right away just because they said its safe and effective. Remember, there’s already an issue with the stablecoin so claiming to have one is not safe anymore. If you still fall on those projects, you might regret it later on so be wise on investing.

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Everyone has to be aware that anytime, any of these stable coins can go south and be the same as the other collapsed stable coins. That's all we have to remember. Whether they're centralized or decentralized, there's a likely that we don't really have an idea if any of them is already in danger and our money kept there will be gone forever. That's why, everything is of possibility and just be aware of what potentially can happen and that's the warning that everyone should take since we're in the crypto market.

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In this case i said that i totally agree of this statement because in this time many new projects are coming and those people who trust in those projects so they easily scam with there users.
So be careful and use only those Stablecoin which we use a long time.
I can't say that every Stablecoin are fully secure but usdt , dai , usdc etc are a trusted coins so use this.

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I don't understand why there are so many stablecoins and why everyone wants to have one. It's pointless, and they most likely won't move the giants of this market.

I think you need to research more on what stable coin is used for before you start saying crap about it.
Stable coins were created not for investors to make profit from but to help counter crypto's Hallmark volatility and also to make cryptocurrency more predictable.

You can check out this link. https://www.coindesk.com/learn/whats-the-point-of-stablecoins-understanding-why-they-exist/ to understand more about stablecoins and why they exist, what's their usage etcetera etcetera etcetera.

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I don't understand why there are so many stablecoins and why everyone wants to have one. It's pointless, and they most likely won't move the giants of this market.

It is everyone's dream to exchange their printed coins for real dollars or a cryptocurrency that has real value. And as a rule, such stablecoins, contrary to their essence, do not have assets that would provide and maintain their value. So new stablecoins can be said to appear due to the greed of their issuers.

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At the first place it doesn't really make any sense to be honest, wherein if you trust a new projects that offer a stable coins because indeed there's already alot of good stable coins that existing in the market and very reliable until now.. So it's a stupid decision to find new ome or should i say to trust new one.. Be practical instead to assure everything is in a safe place that's the most important.

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I don't understand why there are so many stablecoins and why everyone wants to have one. It's pointless, and they most likely won't move the giants of this market.

How is having your money in stablecoin pointless? Do you even understand why Stablecoins existed? Judging from your comment it looks like you don't even know why every crypto investor needs Stablecoin, it is impossible to make gains holding Stablecoins but they keep your value in check, 1$ remains 1$ and while the market is dropping your money stays the same.

If you want go get the best deals on crypto in a bear market you need stablecoins to avoid volatility and buy when the opportunity arises.

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Quote from: Outhue on December 30, 2022, 03:41:57 AM

Be sure to understand how a Stable coin is designed before storing your assets using them, most stable coins have failed since last bear market season, from USDN to UST and USN, there are many more that I don't mentioned.

Some new projects will come as whatever they like, either DeFi or Smart contract and they will introduce new Stable coin, be careful, in fact I don't see any reason why you should keep your dollars using a new Stable coin when we have USDT, USDC, DAI and BUSD..

Centralised or Decentralised you can just make a pick from USDC , USDT, DAI or BUSD

Absolutely, the important part is to use a known stablecoin with some level of security (none of them can be considered 100% safety but they are less riskier than a complete new project).
Better to be safe than sorry, it is better to leave it on fiat than lose it on worthless stablecoin.

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Quote from: tvplus006 on January 03, 2023, 06:32:40 AM

Quote from: jaberwock on January 02, 2023, 03:44:22 PM

...I never trusted anything that is centralized and we all know that most of them are centralized and that is why they suck. If that is the case then why wouldn't I pick btc? Maybe not stable but more secure and that's why it's definitely a great thing for me. I know for a fact that I have never lost a single satoshi, and been here for a long time, I am going to keep it that way.

The purpose of investing in bitcoin and stablecoin is very different. By buying a stablecoin, we aim to save our money, and by buying bitcoin we want to increase it. But it is precisely this desire to increase your deposit that can lead to its loss. One should not think that the value of BTC will eventually increase constantly, because the opposite may happen. One should not think that the value of BTC will eventually increase constantly, because the opposite may happen, since it is a cryptocurrency here, which means there are high risks.

I do not think that opposite could happen. Bitcoin price will always go up, doesn't mean that it won't have periods when it goes down, but it will always go up eventually and that's what matters. I know not many people see it that way but that's the reality and that's the truth.

I get that some people prefer it not to be that way at all, but I personally do not think that it is a problem for me because you could see it as something that will crash and meanwhile I will accumulate from the bottom and make more money when it goes up. The best thing I learned during my crypto investment period is to ignore all the bear callers, it never helps anyone to listen to them.

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Quote from: Outhue on December 30, 2022, 03:41:57 AM

Be sure to understand how a Stable coin is designed before storing your assets using them, most stable coins have failed since last bear market season, from USDN to UST and USN, there are many more that I don't mentioned.

Well, honestly I don't trust stablecoins anymore. Though sometimes I use BUSD still I'd never see that it was safe to store them and consider them as investments as I learn from the Luna scam after all.

For any new projects that mentioned stablecoins, I simply ignore them. It is better to avoid from the centralized projects rather than having regrets later. At this time, we don't just think about how much we earn but it was more important to seek security. Mostly scam happens to new projects, why we should risk our money if we have another option to choose?

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Quote from: jaberwock on January 02, 2023, 03:44:22 PM

...I never trusted anything that is centralized and we all know that most of them are centralized and that is why they suck. If that is the case then why wouldn't I pick btc? Maybe not stable but more secure and that's why it's definitely a great thing for me. I know for a fact that I have never lost a single satoshi, and been here for a long time, I am going to keep it that way.

The purpose of investing in bitcoin and stablecoin is very different. By buying a stablecoin, we aim to save our money, and by buying bitcoin we want to increase it. But it is precisely this desire to increase your deposit that can lead to its loss. One should not think that the value of BTC will eventually increase constantly, because the opposite may happen. One should not think that the value of BTC will eventually increase constantly, because the opposite may happen, since it is a cryptocurrency here, which means there are high risks.

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Quote from: tvplus006 on January 02, 2023, 05:53:52 AM

Quote from: Outhue on December 30, 2022, 03:41:57 AM

...Centralised or Decentralised you can just make a pick from USDC , USDT, DAI or BUSD

The security of stablecoins is determined by our trust in the issuer and is based on value judgments. Therefore, your trust in the stablecoin may be erroneous and you should use the time-tested fiat dollar to save your money. Do not store your savings in stablecoins, convert them into fiat.

It is based on our trust to them, but also it is about the mistrust hackers have to them. If any hacker out there that thinks they could hack into anything in one of those stablecoins, they will do their best and maybe one day they will screw one of them, and another day another of them.

I never trusted anything that is centralized and we all know that most of them are centralized and that is why they suck. If that is the case then why wouldn't I pick btc? Maybe not stable but more secure and that's why it's definitely a great thing for me. I know for a fact that I have never lost a single satoshi, and been here for a long time, I am going to keep it that way.

tvplus006

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Quote from: Outhue on December 30, 2022, 03:41:57 AM

...Centralised or Decentralised you can just make a pick from USDC , USDT, DAI or BUSD

The security of stablecoins is determined by our trust in the issuer and is based on value judgments. Therefore, your trust in the stablecoin may be erroneous and you should use the time-tested fiat dollar to save your money. Do not store your savings in stablecoins, convert them into fiat.

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Quote from: Outhue on December 30, 2022, 03:41:57 AM

Be sure to understand how a Stable coin is designed before storing your assets using them, most stable coins have failed since last bear market season, from USDN to UST and USN, there are many more that I don't mentioned.

Some new projects will come as whatever they like, either DeFi or Smart contract and they will introduce new Stable coin, be careful, in fact I don't see any reason why you should keep your dollars using a new Stable coin when we have USDT, USDC, DAI and BUSD..

Centralised or Decentralised you can just make a pick from USDC , USDT, DAI or BUSD

Only algorithmic stablecoins failed, for the most part. None of the classic centralized stablecoins were affected. This is important to understand before stating that many steablecoins have failed. Although classic centralized stablcoins also had problems with de-peg, they still returned the dollar peg afterwards. That is, their de-peg is temporary, while algorithmic stablecoins are in de-peg most of the time.

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Quote from: mich on December 31, 2022, 11:18:32 PM

Stable coins do concern me just a bit because we do not know if they will always be pegged to $1. I have a significant amount of trust in Tether but I am looking into stacking some of Cardano’s new Djed Stable coin in this January.
After a successful hard fork and updated fees of less then 50% I think there will be a good opportunity for this new decentralized finance stable coin to compete with more popular stable coins. But this one on The Ethereum blockchain.

i am using tether (usdt) just for i needed if you ask me about trust i don’t trust where billions of dollar worth ftt is collapsed in a few days, usdt is always high risk bcoz of it’s a centralized stable coin, also peoples have doubt their actual reserved. btw i think we can't move for short time or long time without using such stable coins.

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Quote from: mich on December 31, 2022, 11:18:32 PM

Stable coins do concern me just a bit because we do not know if they will always be pegged to $1.

Stable coins are not safe especially algorithmic stable coins. Their algorithmic designs can kill their depegs too easily and quickly. Like Terra UST. Tron USD was saved by Justin Sun but its total marketcap was small in that crisis and till now. In future, if its marketcap is bigger, how Justin Sun personally can save its peg.

Quote

I have a significant amount of trust in Tether

If Enron can collapse, FTX can collapse, Tether can too. No official guide for auditing in crypto and without auditing they can cook their reports.

I used to believe in Tether USDT but after all collapses in 2022 of many big projects, I changed and want to store my assets in either Bitcoin or fiat but no longer in stable coins.

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Stable coins do concern me just a bit because we do not know if they will always be pegged to $1. I have a significant amount of trust in Tether but I am looking into stacking some of Cardano’s new Djed Stable coin in this January.
After a successful hard fork and updated fees of less then 50% I think there will be a good opportunity for this new decentralized finance stable coin to compete with more popular stable coins. But this one on The Ethereum blockchain.

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Theres a lot of stablecoin there but its quite scary to risk on some farming associated with it since they are the one who controls it. Also its reserve and value is quite questionable yet. We should just used the major one and avoid the others. If you dont want to suffered from being a victim of previous stablecoins that ruined or got dumped. Its supposedly to be stable right, but if the project cant make it like that then thats a red flag.

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I agree with most people here there's nothing difference between old or new project because you can't predict when they want to scam their investors or manipulate the market (centralized stablecoin). If you think decentralized stablecoin e.g. DAI has some risk involved about this project, then the best option is just hold your local fiat, don't trade it for stablecoin. The price is same isn't? it's stick with real fiat 1:1, you could proceed to legal and your funds are insured.

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I had kept an eye on the USDN (Neutrino USD) since a while ago because I indeed expected it to lose its peg after the collapse of Terra-Luna, months passed and nothing happen. After reading OP I went to check the situation with that stablecoin and indeed it has lost its value for over 50%. People do not learn when comes to logarithmic stablecoins.

I agree with you, of course, for now on I'll check USDD often to see what happens to it.
Personally, my preferred Stablecoin is DAI.

Bazzu

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yes, definitely have to be careful, with the new stable coin. but personally I prefer to invest in bitcoin because investing in bitcoin will be safer. compared to a new stable coin. but we can also invest in new stable coins, as long as we have to be able to see whether the coin has good potential or not. yes, but it's up to each one because in reality there are always a lot of people who invest in new stable coins and there are always a lot of enthusiasts.

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Quote from: Outhue on December 30, 2022, 03:41:57 AM

Be sure to understand how a Stable coin is designed before storing your assets using them, most stable coins have failed since last bear market season, from USDN to UST and USN, there are many more that I don't mentioned.

Those were algorithmic stable token that used their token as a thing to backed their stable token. it can be said that if the value from algorithmic stable token being stabilized through burning and issuing the new token. This kind of stable token didn't backed by enough reserved funds. that's why those algorithmic stable token was a very risky thing.

Quote from: Outhue on December 30, 2022, 03:41:57 AM

Some new projects will come as whatever they like, either DeFi or Smart contract and they will introduce new Stable coin, be careful, in fact I don't see any reason why you should keep your dollars using a new Stable coin when we have USDT, USDC, DAI and BUSD..

Agreed but stuped users will always become ignorance since they did believe in the platform aka new dev. Once the new stable token will be collapse and they will make bunch of complaints like crazy people while they didn't even try to realize if they were stupid enough by using the new stable token that has not backed by USD.

Quote from: Outhue on December 30, 2022, 03:41:57 AM

Centralised or Decentralised you can just make a pick from USDC , USDT, DAI or BUSD

So far by using those stable tokens with real reserved funds and i never encounter any problem unlike those who have been using algorithmic stable token which was a scam token.

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Quote from: Outhue on December 30, 2022, 03:41:57 AM

Be sure to understand how a Stable coin is designed before storing your assets using them, most stable coins have failed since last bear market season, from USDN to UST and USN, there are many more that I don't mentioned.

Some new projects will come as whatever they like, either DeFi or Smart contract and they will introduce new Stable coin, be careful, in fact I don't see any reason why you should keep your dollars using a new Stable coin when we have USDT, USDC, DAI and BUSD..

Centralised or Decentralised you can just make a pick from USDC , USDT, DAI or BUSD

Yeah, we should be vigilant about projects that introduce stablecoin. If it is not backed up by reserve 1:1, it will only mean one thing. It is fraud when declaring 1 token :1 USD when your reserve fund does not support your claim. Let us not be persuaded by hype, instead let us base our decision on facts that we collect while we are investigating or researching the project.

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Quote from: ryzaadit on December 30, 2022, 02:56:21 PM

But don't forget the stable-coin you're mentioning is always on alert as well.

For example for "USDT", the rumor is not actually backup 100% by the asset. A potential backup asset is only 60%-70%, they even got check by SEC for the reserve asset also USDT can be frozen.

So, IMO new or old everyone should aware.

There’s a lot of trust issues now with the stablecoin and even if they release their back-up plan and percentage I think its not enough to trust again, so be careful dealing with them especially with the new project claiming to be good as they offer a stablecoin. SEC is doing their job now to add the fud in the market, it seems they timing the market before they make action and right now is their perfect timing to do their job. Not all new projects are ok to deal with, stay cautious.

Tigerheart3026

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btw i never heard before about of usdn, ust, and usn
can i find on coinmarketcap? i see these aren’t stable in price.
no stable coins are safe also your mentioned usdt, busd, dai, and usdc although we have using them in our regular trading,
i don’t keep hold any stable coin for long time.

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At this point I don't think people will miss out on projects that will introduce stablecoins. Pretty sure we've all had our fill with the recent FTX issue, and we will avoid anything similar like the plague. Heck, we're still having doubts with USDT and BNB up to now even though these two are already established and belongs to companies that have already proven their worth in the scene (except USDT of course).

There will be a lot of people that will still be greedy for profits, and those people will surely buy in to these projects that offer to bring out a new stablecoin, and I guess it's just right of them to invest on those because for sure, after a lot of warnings, if they don't read the signs, they deserve to get burned.

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Let alone a new stablecoin project, most of the current leading stablecoins are even getting scrutiny. The main concern should be also addressed to the current leading market, those 4 stablecoins on the OP are also inherently having a risk due to how stablecoin works. The centralized one might have regulatory problems or simply take the example of USDT about its reserve issues. So do the decentralized one, it does not guarantee the ecosystem can't be hacked or have some issues.

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Quote from: Outhue on December 30, 2022, 03:41:57 AM

Centralised or Decentralised you can just make a pick from USDC , USDT, DAI or BUSD

I don't think it's advisable suggesting centralization stablecoin projects to newbies reading this. Among all the stable coins you mention, DAI should be the only go to stablecoin for storing of your profits while the rest can be used for trading since they have more available liquidly as they're been adopted more on exchanges. Before entrusting your funds to ang project for safe keeping do understand how that stable coins works.

Many investors didn't understand how UST worked (algorithmic stablecoin) but just patronized it because it was popular and a coin from famous Terra Luna camp. Also do note that just because a project claims to be decentralized doesn't guarantee them been a good project and safe from collapsing. We have lots of Defi projects getting hacked daily and any of the so called Defi stablecoin could still fall victim and unlikely to recover, be careful out there.

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Quote from: Outhue on December 30, 2022, 03:41:57 AM

Be sure to understand how a Stable coin is designed before storing your assets using them, most stable coins have failed since last bear market season, from USDN to UST and USN, there are many more that I don't mentioned.
Some new projects will come as whatever they like, either DeFi or Smart contract and they will introduce new Stable coin, be careful, in fact I don't see any reason why you should keep your dollars using a new Stable coin when we have USDT, USDC, DAI and BUSD..
Centralised or Decentralised you can just make a pick from USDC , USDT, DAI or BUSD

I definitely agree with your statement and i can only give the same warning. To issue a stablecoin that really is stable and also reliable during a heavy bear market like the one that we are in right now requires a huge amount of money. In the end every stablecoin that is minted and issued by a company needs to be backed 1:1 with a real $ or € that is owned by that company otherwise that stablecoin will not be very stable once some big hickups are happening in the crypto market.
I also use USDT, USDC and BUSD as the stablecoins of my choice, even though i don't really like the fact that they are all centralized, but it is what it is.

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Quote from: Outhue on December 30, 2022, 03:41:57 AM

Be sure to understand how a Stable coin is designed before storing your assets using them, most stable coins have failed since last bear market season, from USDN to UST and USN, there are many more that I don't mentioned.

Some new projects will come as whatever they like, either DeFi or Smart contract and they will introduce new Stable coin, be careful, in fact I don't see any reason why you should keep your dollars using a new Stable coin when we have USDT, USDC, DAI and BUSD..

Centralised or Decentralised you can just make a pick from USDC , USDT, DAI or BUSD

This advice should be applied to all stable coins and not only towards the new ones, even coins like USDT has had many issues proving that they are in fact following their policies when it comes to the amount of fiat they have in store compared to the units of USDT they have emitted, and when the most popular stable coin in the market cannot do something as simple as this then it is to be expected that the rest of the stable coins could be presenting the same kind of issues, so if someone needs to use a stable coin it is acceptable to use one that looks solid but they should never keep their funds there for long.

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But don't forget the stable-coin you're mentioning is always on alert as well.

For example for "USDT", the rumor is not actually backup 100% by the asset. A potential backup asset is only 60%-70%, they even got check by SEC for the reserve asset also USDT can be frozen.

So, IMO new or old everyone should aware.

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Quote from: Outhue on December 30, 2022, 03:41:57 AM

Be sure to understand how a Stable coin is designed before storing your assets using them, most stable coins have failed since last bear market season, from USDN to UST and USN, there are many more that I don't mentioned.

This 3 well known failure stablecoin is due to there unique way to stabilize the price. These stablecoins use a protocol that involves volatile asset as basis to peg the price to 1USD which is obviously turns to failure after unable handling too much sell off on the token.

Also Justin Sun and Do Kwon idea is pure ponzinomics which offers there stablecoin in bargain price with a huge APY by just staking. The rest of the stablecoin that use real USD to back there stablecoin will likely gonna survive.

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And why do you think the coins you mentioned are safe, are you ready for the attack if by chance those stablecoin crashes. There is nothing completely safe in crypto-currency world.

I would agree the more popular stablecoins are USDT but popular is not safe. UST was becoming popular even though it was new but still fell off. I would always choose anything that is decentralized.

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USDC, USDT, DAI and BUSD are enough for me, and will not store in any other stablecoin. But even so, it is not recommended to store all assets in crypto stablecoins which still have the risk of being lost, such as the incident at Terra LUNA which made the stable coin brand, namely UST, also collapse. There will still be risks, we need to be vigilant and have a backup plan when things don't go our way.
Several new projects that will make stablecoins need to be watched out for, because they are still very risky. Make sure to do as much detailed research as possible to find out behind the project you are working on.

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Quote from: un_rank on December 30, 2022, 04:03:07 AM

I do not see any reason to keep your dollars in any stable coin when we have Bitcoin.

From the perspective of someone who is an active crypto trader, stablecoins definitely make sense for all the reasons we already know, but I never liked the whole story about the so-called stablecoins. It's no secret that most of such s-coins have full custodial status, which means that they can be frozen by the issuer at any time, regardless of where they are stored - so they are highly risky.

In addition, even the most famous ones had problems with the fact that it was discovered that they were not backed in the way we thought, which means that someone is printing digital tokens that are not actually worth anything while at the same time claiming the complete opposite. Therefore, it is beyond all reason to believe in such a system that can turn against everyone at any time, so it is logical to conclude that stablecoins are a far worse option even than fiat currencies.

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Quote from: Outhue on December 30, 2022, 03:41:57 AM

Be sure to understand how a Stable coin is designed before storing your assets using them, most stable coins have failed since last bear market season, from USDN to UST and USN, there are many more that I don't mentioned.

There were many that failed even before the last bear market season, some has been failing many years ago and they are mostly algorithmic stable coin if not all are algorithmic stable coins. People were warned of stable coins like UST the were algorithmic that were later created not quite long. Many failed again as usual.

Quote from: Outhue on December 30, 2022, 03:41:57 AM

Centralised or Decentralised you can just make a pick from USDC , USDT, DAI or BUSD

People that are using centralized exchanges to trade can use USDT or USDC because the exchanges are centralized themselves, they can use a centralized coins with it while trading.

BUSD is the worst of all the centralization stable coin as Binance is trying to make it dominate. You can see their plan as they are auto converting USDC, USDP and TUSD to BUSD on their exchange, said to increase liquidity. During the last panic that made Binance users to withdraw their coins to noncustodial wallet, USDC withdrawal was disabled, I do not know if it was later enabled at the time.

DAI is better if you want a decentralized stable coin, all others can be freezed on noncustodial wallet, the reason not to stored them on noncustodial wallet.

Quote from: un_rank on December 30, 2022, 04:03:07 AM

I do not see any reason to keep your dollars in any stable coin when we have Bitcoin.

Just that some people are traders, example are swing traders that convert bitcoin to stable coin and convert it back to bitcoin. But for an appreciative asset, bitcoin should be gone for.

NeuroticFish

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Old or new stable coins, no matter; people should be aware that in most (or all?) cases the value (price) listed for them is artificial and they have to trust the issuer that the value will hold.
While stable coins do have their use in the ecosystem (fast transfer of value), their use as safe heaven against bitcoin's bear market is overly risky (just think of what has happened with Terra).
It's always wise to keep money in stable coins as little time as possible.

un_rank

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Quote from: Outhue on December 30, 2022, 03:41:57 AM

in fact I don't see any reason why you should keep your dollars using a new Stable coin when we have USDT, USDC, DAI and BUSD..

I do not see any reason to keep your dollars in any stable coin when we have Bitcoin.

Quote from: Outhue on December 30, 2022, 03:41:57 AM

Centralised or Decentralised you can just make a pick from USDC , USDT, DAI or BUSD

Avoid any centralized project, if you value your asset, security and privacy.

- Jay -

Outhue

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Be sure to understand how a Stable coin is designed before storing your assets using them, most stable coins have failed since last bear market season, from USDN to UST and USN, there are many more that I don't mentioned.

Some new projects will come as whatever they like, either DeFi or Smart contract and they will introduce new Stable coin, be careful, in fact I don't see any reason why you should keep your dollars using a new Stable coin when we have USDT, USDC, DAI and BUSD..

Centralised or Decentralised you can just make a pick from USDC , USDT, DAI or BUSD

Topic: Be careful with new projects that introduce new Stable coins (Read 307 times)