Best alternative to Tether? | Bitcointalksearch.org

exstasie

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Quote from: el kaka22 on November 18, 2019, 12:34:53 PM

Believe it or not, I still think Binance USD will be the best out of all of them. We are talking about something that Binance is doing and these dudes have been doing everything so amazingly that none of their products have failed so far, that is why I think this one won't end up being horrible neither.

They did get compromised.....twice. The first time, KYC data was leaked. The second time, their hot wallet. Their US launch was disappointing and so is their futures platform.

I don't see any reason for BUSD to surpass more reputable options like USDC.

bohr

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Quote from: beerlover on November 16, 2019, 08:44:15 AM

Quote from: gentlemand on June 14, 2019, 02:41:47 PM

Facebookcoin will be a very different beast and we don't know whether they'll allow it to touch any exchanges beyond their approved ones, and even the approved ones may only allow exchanging to proper fiat currencies.

If libra were to happen that would have been the best alternative to it but unfortunately it looks like it is going to be postponed for a while and probably even cancelled so I doubt we will have Libra as an alternative.

Everyone was against Libra and the whole world wanted to stop Facebook from creating it and they might have managed to achieve that from the looks of it but what they are forgetting is that facebook would have been an improvement over the horrible companies we have right now, plus would be funny to see Winklevoss twins having a stable currency and Mark Zuckerberg also creates a better version of their stable currency Cheesy

.

Right now, the only one that looks semi-legit is USDC and even that doesn't look too comfortable to me right now so fiat is where I directly go to.

But trying to get fiat for your cryptocurrencies has its own set of problems, one of those are the costs, if at some point you want to buy cryptocurrencies again then you will be charged an important fee and the time it takes to convert your fiat to bitcoin and your bitcoin to fiat are many times slower than just using a stable coin, and finally you may need to pay some taxes on that money and this will reduce your available capital to buy cryptocurrencies again.

el kaka22

legendary

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www.Crypto.Games: Multiple coins, multiple games

Quote from: kanayaTabitha on November 16, 2019, 12:21:12 AM

Binance USD BUSD
$17.93M

Believe it or not, I still think Binance USD will be the best out of all of them. We are talking about something that Binance is doing and these dudes have been doing everything so amazingly that none of their products have failed so far, that is why I think this one won't end up being horrible neither.

Maybe it won't be the first one and maybe there will be a better one in the end but just because there is one at the top doesn't mean Binance USD will not be used unless Binance decides to stop it themselves. Whatever we end up using in the end as much as possible I just hope it won't be tether, as long as humanity stops using tether and tries to get their money back from them (eventually can't because they don't have enough money) and evidently sue them for it, that's better for me.

Findingnemo

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Bitcoin = Financial freedom

Quote from: Exidous on November 17, 2019, 08:25:23 AM

Quote from: Findingnemo on November 17, 2019, 06:45:23 AM

No stable coin is safe and all the stable coins are the same so no need to find an alternative for a stable coin which got more trading volume and listed on most of the top-rated exchanges, if you still want then go for USDC, don't trust anything with less trading volume.

Depend on the thinking of each person but currently USDT and USDC are still the two most stable stable coins in this market and ensure the safety of investors when participating in transactions. USDC seems to me better and is being widely used throughout this year so USDC may one day overcome USDT dominance in the near future. Investors now have a variety of stable coin options but USDC should be considered more.

USDC is from coinbase so if OP is going to use Coinbase trading platform then its better to choose it, literally stable coins are also not stable they have changes in value from one dollar it might increase or decrease in a small percentage. Stable coin not for investors it's only for traders.

2double0

legendary

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I would prefer Binance USD (BUSD) over any other coin that is an alternative to fiat because Binance had been here for just a few years and what a great progress had been presented by them, I am seeing their project to be running for at least a decade or two and with that, you can be rest assured that BUSD will not ditch you in the long run while you fear that Tether could foul play after Bitfinex shutdown.

Taskford

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Quote from: kanayaTabitha on November 16, 2019, 12:21:12 AM

THe second best stablecoin after tether is USDC but if you want more alternative i could list the top 5 big volume of stable coins after tether and USDC

1. Paxos Standard PAX
$228.44M

2. TrueUSD TUSD
$168.9M

3. Dai DAI
$102.86M

4. STASIS EURO EURS
$35.16M

5. Binance USD BUSD
$17.93M

This list is refers to cryptoslate website. you can see the full list here https://cryptoslate.com/cryptos/stablecoin/

I don't on the state of those 4 mentioned coins since for what I see is they got a pretty much little volatility but on one of your list is I think good since I'm using it for many months right now and the price seems stagnant and safe since the value Nevers go down and also never goes up and this token is the TrueUSD which we can go on if we don't want to lose on the harsh volatility state of the market.

pawanjain

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Nothing lasts forever

It's quite simple.

You will first have to decide the alternative between stable coins and altcoins.
To be honest, there aren't much trusted stable coins available in the market.
There are a plenty of altcoins available though. You should go for the next best altcoin which here should be ETH followed by BCH, BNB etc..
The more potential the coin is, the lesser risk of losing your money in the long run.

Exidous

full member

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Quote from: Findingnemo on November 17, 2019, 06:45:23 AM

No stable coin is safe and all the stable coins are the same so no need to find an alternative for a stable coin which got more trading volume and listed on most of the top-rated exchanges, if you still want then go for USDC, don't trust anything with less trading volume.

Depend on the thinking of each person but currently USDT and USDC are still the two most stable stable coins in this market and ensure the safety of investors when participating in transactions. USDC seems to me better and is being widely used throughout this year so USDC may one day overcome USDT dominance in the near future. Investors now have a variety of stable coin options but USDC should be considered more.

Findingnemo

hero member

Activity: 2366

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Bitcoin = Financial freedom

No stable coin is safe and all the stable coins are the same so no need to find an alternative for a stable coin which got more trading volume and listed on most of the top-rated exchanges, if you still want then go for USDC, don't trust anything with less trading volume.

Pearls Before Swine

sr. member

Activity: 1190

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Quote from: BitcoinGirl.Club on June 01, 2019, 12:58:03 PM

Please do not keep your coins in an exchange. If anything happens to the exchange then you are going to lose the asset.

Best advice ever for anyone in crypto, and it's something all newbies ought to learn right when they get into crypto.

Op is all in on Tether? Why?? If you're into cryptocurrency, why bother with a stable coin that's pegged to fiat? You might as well keep your cash in a safe, as it would probably be safer.

Quote from: beerlover on November 16, 2019, 08:44:15 AM

If libra were to happen that would have been the best alternative to it but unfortunately it looks like it is going to be postponed for a while and probably even cancelled so I doubt we will have Libra as an alternative.

Why would one stable coin be better than another? What is it about libra that would make it more attractive than Tether? In my mind they'd both be equally as useless to own. There's no profit to be made and no reason to hold either one. Inflation works to devalue fiat, so it's going to devalue stable coins as well.

ajaymukund

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https://streamies.io/

If you're really worried about it, you should diversify your portfolio. such as holding more stablecoins like USDC and PAX. Those are the stablecoins I've used and it's great.
Or you can use your USDT to buy more than Ethereum or XRP, although its value is not stable but it will certainly grow in the long run. Hope you will have good luck and success.

exstasie

legendary

Activity: 1806

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Quote from: its-a-me-mario on November 15, 2019, 03:03:44 PM

Yeah one of the biggest issues w/all the different options for stablecoins is that its just spreading liquidity thin across a bunch of base pairs. When it was just USDT that was great since it had lots of volume. Unless exchanges decide to really care that DAI is the most ideal approach to a stablecoin, I don't think it will be a viable trading pair until the overall market has a LOT more liquidity and volume.

That won't happen. The exchanges are all incentivized to promote their own stablecoin, like Coinbase paying interest on USDC now. At the least, they are earning interest off stablecoin holders, but more importantly, they are keeping traders oriented towards their own market liquidity. Coinbase wants you to stay in the USDC markets, not withdraw DAI to competing exchanges.

beerlover

legendary

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Quote from: gentlemand on June 14, 2019, 02:41:47 PM

Facebookcoin will be a very different beast and we don't know whether they'll allow it to touch any exchanges beyond their approved ones, and even the approved ones may only allow exchanging to proper fiat currencies.

If libra were to happen that would have been the best alternative to it but unfortunately it looks like it is going to be postponed for a while and probably even cancelled so I doubt we will have Libra as an alternative.

Everyone was against Libra and the whole world wanted to stop Facebook from creating it and they might have managed to achieve that from the looks of it but what they are forgetting is that facebook would have been an improvement over the horrible companies we have right now, plus would be funny to see Winklevoss twins having a stable currency and Mark Zuckerberg also creates a better version of their stable currency Cheesy

.

Right now, the only one that looks semi-legit is USDC and even that doesn't look too comfortable to me right now so fiat is where I directly go to.

kanayaTabitha

sr. member

Activity: 980

Merit: 252

THe second best stablecoin after tether is USDC but if you want more alternative i could list the top 5 big volume of stable coins after tether and USDC

1. Paxos Standard PAX
$228.44M

2. TrueUSD TUSD
$168.9M

3. Dai DAI
$102.86M

4. STASIS EURO EURS
$35.16M

5. Binance USD BUSD
$17.93M

This list is refers to cryptoslate website. you can see the full list here https://cryptoslate.com/cryptos/stablecoin/

Shasha80

sr. member

Activity: 1876

Merit: 318

If you are worried about saving money in USDT, because of the bad news that is developing about USDT. There really is an alternative
to stable coins, I would recommend Dai coin and USDC. Both of them in my opinion are the best alternative to tether (USDT), especially
DAI coins very recommend. Besides its price which is stable, but DAI is not centralized. DAI is decentralization built on ethereum blockchain.
So in my opinion there is no doubt the potential of the DAI coin. Or if you are still in doubt about the DAI coin, you can choose USDC as an
alternative to tether.

cryptothreads

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Quote from: tbterryboy on November 15, 2019, 02:06:37 PM

I was about to mention the TrueUSD but you already said you don't like it and you also not interested in USDCoin. Okay, what about PAXOS STANDARD (PAX)? Their token is regulated and it's approved by the New York State Department of Financial Services. You should check it out and read more about them. Their already wallets that are offering them. If you have Blockchain wallet you will see the coin in your wallet and you can exchange to it. Their own exchange is itbit.com and it's also listed on other exchanges.

Apart from PAX there is also Gemini Dollar (GUSD) offered by Gemini exchange. I discovered this coin around the time PAX was launched so I think they came out the same time. And based on the information I have on them, they are really good.

Currently, USDT is still the first choice of many investors because this stable coin always has a high volume of transactions and is easy liquidatity than other stable coins. Maybe the options you listed are quite good, but USDT always has trading pairs with all altcoins in this market. Currently, I only see USDCoin has the most potential in the near future because this coin is starting to become more popular.

In my opinion, holding many stable coins does not bring much profit and should only choose 1 or 2 to ensure you the absolute safety when participating in this market.

its-a-me-mario

jr. member

Activity: 88

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Quote from: exstasie on November 14, 2019, 03:57:02 PM

Quote from: Rajbir1994 on November 14, 2019, 05:56:26 AM

What do you think? This is high time to leave Tether and drive into another crypto? I am a little bit confused while reading about Tether fraud from online https://all-stocks.net/featured-the-full-story-of-bitfinex-tether/ Waiting for your reply what to do next. Thank you!

The market disagrees. Tether's market cap has plateaued above $4 billion and shows no signs of dropping: https://coinmarketcap.com/currencies/tether/

Quote from: leavolnhals on November 14, 2019, 06:10:47 AM

If you are too worried about your transactions and assets being disrupted, you should also use a few other stablecoins. In the crypto market, there are many types of stablecoins, such as PAX, USDC, TUSD, ...
You don't need to use USDT and become too nervous. We have many options bro, relax.

The liquidity is lacking on all non-USDT stablecoins though. USDC is okay on Binance, but even as a smaller trader I've struggled at times to get in/out of positions quickly. It's even worse everywhere else.

Quote from: its-a-me-mario on November 14, 2019, 02:59:35 PM

I'm a huge fan of DAI because it's a stablecoin that is decentralized and not backed by USD deposits.

DAI is super cool. I love the idea of hedging USD value with a decentralized token. I just wish the markets were bigger. Coinbase and Kraken launched markets but they are very disappointing.

Yeah one of the biggest issues w/all the different options for stablecoins is that its just spreading liquidity thin across a bunch of base pairs. When it was just USDT that was great since it had lots of volume. Unless exchanges decide to really care that DAI is the most ideal approach to a stablecoin, I don't think it will be a viable trading pair until the overall market has a LOT more liquidity and volume.

tbterryboy

sr. member

Activity: 2030

Merit: 323

I was about to mention the TrueUSD but you already said you don't like it and you also not interested in USDCoin. Okay, what about PAXOS STANDARD (PAX)? Their token is regulated and it's approved by the New York State Department of Financial Services. You should check it out and read more about them. Their already wallets that are offering them. If you have Blockchain wallet you will see the coin in your wallet and you can exchange to it. Their own exchange is itbit.com and it's also listed on other exchanges.

Apart from PAX there is also Gemini Dollar (GUSD) offered by Gemini exchange. I discovered this coin around the time PAX was launched so I think they came out the same time. And based on the information I have on them, they are really good.

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: Rajbir1994 on November 14, 2019, 05:56:26 AM

What do you think? This is high time to leave Tether and drive into another crypto? I am a little bit confused while reading about Tether fraud from online https://all-stocks.net/featured-the-full-story-of-bitfinex-tether/ Waiting for your reply what to do next. Thank you!

The market disagrees. Tether's market cap has plateaued above $4 billion and shows no signs of dropping: https://coinmarketcap.com/currencies/tether/

Quote from: leavolnhals on November 14, 2019, 06:10:47 AM

If you are too worried about your transactions and assets being disrupted, you should also use a few other stablecoins. In the crypto market, there are many types of stablecoins, such as PAX, USDC, TUSD, ...
You don't need to use USDT and become too nervous. We have many options bro, relax.

The liquidity is lacking on all non-USDT stablecoins though. USDC is okay on Binance, but even as a smaller trader I've struggled at times to get in/out of positions quickly. It's even worse everywhere else.

Quote from: its-a-me-mario on November 14, 2019, 02:59:35 PM

I'm a huge fan of DAI because it's a stablecoin that is decentralized and not backed by USD deposits.

DAI is super cool. I love the idea of hedging USD value with a decentralized token. I just wish the markets were bigger. Coinbase and Kraken launched markets but they are very disappointing.

its-a-me-mario

jr. member

Activity: 88

Merit: 9

I'm a huge fan of DAI because it's a stablecoin that is decentralized and not backed by USD deposits.

If you want a centralized option backed by USD, USDC is the best option IMO.

Topic: Best alternative to Tether? (Read 889 times)