busd or USDT safe | Bitcointalksearch.org

D ltr

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Quote from: camat gampong on June 12, 2021, 10:34:04 AM

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BUSD is only supported on the Binance exchange but since the release of BSC token trading on Pancake, BSUD volume has increased for assets on stable coins. So far both stablecoins are very safe but USDT is superior because it is available on all exchanges and has the largest volume for the stable coin category.

This means that if we take a general conclusion at this point, USDT is still very superior compared to other stablecoins including BUSD as well, because as we can see now, it is clear that USDT still wins a lot from other stablecoins.

at least so. USDT is supported by many exchanges, but Busd is only on the binance network and a few exchanges, I prefer to use USDT to store my assets than BUSD
but that doesn't mean BUSD is not good these two coins are equally good exchanges in terms of price

TopT3ns

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Quote from: udayantha11 on June 12, 2021, 08:41:18 AM

BUsd related to Binance. So some sure about it. If anything happened Binance can be point out. If USDT happended what can we do?

so what is the best ?

all USDT-based cryptocurrencies have a very high risk because the supply is without any restrictions and of course it can make the price of the coin owned an instant dump, fortunately USDT currently still looks stable because the USDT price controllers don't want to make the conditions where the exchange is chaotic . better USDT with a very large amount and supply of circulation can be added more can be used to increase the price of bitcoin.

popeye95

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Of course, USDT is safer. BUSD is ties with Binance which could be either good or bad depending on how Binance operates. And by Binance, they got a lot of heat recently as sue cases and shady reputation since their legal entity was on Seychelles island which also doesn't have a good reputation for cryptocurrencies (Ignatova OneCoin scam). But If I was you, I'll split my holding into different top stable coins and some promising alts just to be sure.

asus09

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Better use BUSD and save on binance when you sent to other wallet using BSC network you not pay fees sending payment, BUSD or USDT is stable coin not any change higher or lower like other altcoin, but I only save my assets to BUSD or USDT when bitcoin dump and crash. When good moment I will buy altcoin and take profit before save in BUSD or USDT.

andyou1234

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BUSD and USDT are stablecoins that both have their own advantages and disadvantages, USDT is a coin that is managed on the Ethereum blockchain, whereas BUSD uses the binance network as a place to operate, and I think both have very capable technology, so both are great and safe to transact.

brooksby

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Quote from: jostorres on August 22, 2021, 03:12:39 PM

Quote from: andyou1234 on August 21, 2021, 04:31:25 PM

BUSD and USDT are stablecoins that both have their own advantages and disadvantages, USDT is a coin that is managed on the Ethereum blockchain, whereas BUSD uses the binance network as a place to operate, and I think both have very capable technology, so both are great and safe to transact.

I personally like Binance stablecoin more than tether dollar because Binance do audits and things are more transparent while tether is just a little bit shady and never heard if they do public audits and things like that.

Quote from: Fire me! on August 21, 2021, 07:42:51 PM

Usdt is a risky not pegged shitcoin. The only reason it is used a lot is because it was the first anc for dome strange reason people keep using it. There is to much smoke there that there must be a fire.

I am not a huge fan either but the same logic applies with Bitcoin. There are many projects and coins that provide more use cases than BTC but because it was the first one, it still has the biggest market cap. Similarly, no matter how many flaws are there in tether, it still remains the top stablecoin.

Also Tether is much more expensive in transactions. Withdrawing USDT from exchanges is painful, but BUSD is quick and cheap. The point with the audits is a good and important one. Nobody knows what's going on with Tether.

As for Bitcoin you should keep in mind that it is not worth the most because it was the first, it is worth the most because it is the most secure blockchain in terms of hash rate. Price and hash rate are strongly positively correlated, you can check the data.

tygeade

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Quote from: LongStand on August 21, 2021, 09:16:17 AM

There isn't much of a difference between the BUSD and the USDT.

There is a difference of night and day from the technical point of view but from a trader's point of view, yeah there's not much separating them. Both have a stable value and are good for the management of portfolios.

Tether (USDT) has a higher volume hence more liquidity in terms of price while BUSD is still far behind.

Quote from: LongStand on August 21, 2021, 09:16:17 AM

If you're a novice trader, you should focus on volume, arbitrage chances, and so on.

I don't think novice traders should ever focus on things like arbitrage because arbitrage trading requires superior knowledge and understanding of the market.

CLS63

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BUSD is a stablecoin which is backed by Binance. As long as Binance stays the biggest cryptocurrency exchange in the market, I don't expect BUSD to lose its importance and power. On the other hand, USDT is a stablecoin which was founded by Tether Limited company.

So, I think that there is not very much difference between these stablecoins actually. You can prefer to use both of them like I do. As long as the companies behind these stablecoins don't bankrupt or lose their power because of something, both BUSD and USDT will stay the most preferred stablecoins in the market.

Chathusand

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You can use USDT on most exchanges, gambling sites, and other businesses that take USDT, but you can only use BUSD on the Binance exchange. They are identical, it's only that Binance invented their own USD. I believe it is also backed by $1, thus both USDT and BUSD are secure, however USDT is more widely accepted than BUSD.

jostorres

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Quote from: andyou1234 on August 21, 2021, 04:31:25 PM

BUSD and USDT are stablecoins that both have their own advantages and disadvantages, USDT is a coin that is managed on the Ethereum blockchain, whereas BUSD uses the binance network as a place to operate, and I think both have very capable technology, so both are great and safe to transact.

I personally like Binance stablecoin more than tether dollar because Binance do audits and things are more transparent while tether is just a little bit shady and never heard if they do public audits and things like that.

Quote from: Fire me! on August 21, 2021, 07:42:51 PM

Usdt is a risky not pegged shitcoin. The only reason it is used a lot is because it was the first anc for dome strange reason people keep using it. There is to much smoke there that there must be a fire.

I am not a huge fan either but the same logic applies with Bitcoin. There are many projects and coins that provide more use cases than BTC but because it was the first one, it still has the biggest market cap. Similarly, no matter how many flaws are there in tether, it still remains the top stablecoin.

ranaprime

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I think both are flourished in the crypto world and i have no doubt about these. Both are use as stable coin. Normally i use USDT more then BUSD. I didn't get any difference between the two.

Ever-young

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BUSD is a stable coin by binance which is the united state dollar on binance chain, that of USDT is United States Dollar on ERC-20, so if anything happen to the USDT then ETH will be hold responsible.
But I don't think anything can happen to both so far as the Blockchain is alive.

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Quote from: udayantha11 on June 12, 2021, 08:41:18 AM

BUsd related to Binance. So some sure about it. If anything happened Binance can be point out. If USDT happended what can we do?

so what is the best ?

these two coins have the same value and function, namely stablecoins. but the difference is only a different platform / network. USDT uses 3 platforms namely ETH, TRX, OMNI. while BUSD only uses the binance platform. so if asked which is safer then I will answer USDT is the safest and USDT is in all Exchange market and BUSD is only in some exchange market.

finaleshot2016

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But there is a few differences: BUSD is regulated and audited. They ensure that every BUSD is backed 1:1 by a physical dollar stored in FDIC-insured US banks. USDT is not audited and has had security breaches and lawsuits in the past.

USDT is usually utilized in multiple networks, whereas BUSD is mostly used in BEP20, therefore if you're simply trading on Binance, BUSD should be enough. If you're using USDT to purchase a certain altcoin on a different network, it'll work.

USDT has had a lot of troubles in the past, thus there's a danger if you want to hodl it in case the market changes and you're ready to buy. BUSD is safer than USDT especially when you're having a transaction in binance smart chain and I bet that it's the best since most of us are now using Binance exchange, and a lot of NFT games are in Binance Smart Chain.

fileo

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If planning to save money to prepare the possibility of bearish in the future, stable coins are good asset to store. In that case you have usdt or busd to use once dump occur. I guess Eth and Binance has nothing to do about stable coins value.

Fire me!

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Usdt is a risky not pegged shitcoin. The only reason it is used a lot is because it was the first anc for dome strange reason people keep using it. There is to much smoke there that there must be a fire.

ninabobo

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Quote from: bamb on June 12, 2021, 09:55:19 AM

Busd and Usdt with other stable coin is as safe as it get! There are many issues that worries a lots of people in Cryptocurrency community. There are pending court case on usdt, there is also the issue of transparency in terms of the actual money at bank for most of these stablecoin The silver lining here is that busd is backed by paxosgold, Dai holds lots of collateral and usdt is known by the authorities! Let's hope these stable coin will keep serving Cryptocurrency community for years to come!

To me the both stable currency is safe and have been working very fine for a long while now, well due to the fact that have been hearing and seeing some FUD news about USDT makes people loose trust in the USDT blockchain, so bad for me I haven't been so much aware of this maybe because am not so much active with the crypto news updates, sincerely I like USDT more than BUSD maybe because am more familiar with it, I just wish everything turns out right for the USDT ecosystem.

Fivestar4everMVP

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Aside all the negative news going around USDT, and also not forgetting that USDT still have a pending court case(some already said this here) if we put all this aside, then I did say that USDT is much better than BUSD for several reasons,
One being that USDT is very much more popular and much more accepted than BUSD is, every exchange, both centralized and decentralized all have USDT listed for trading, but BUSD is only available within Binance exchange and pancakeswap which is highly limiting to its usage.

Princejebs

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Quote from: Gbniman on August 21, 2021, 03:26:00 PM

In terms of technology USDT is completely secure — it's a centralized token developed on the decentralized Ethereum blockchain that's meant to be backed by 1 US dollar stored on Tether Ltd's balance sheet in the form of cash in bank accounts and government bonds.
BUSD is a stablecoin and its value is pegged to the USD or USDT value. So it doesn't make any difference. So probably but are safe.

Your idea about crypto must be really superb for saying it's completely secure when they can hammer your finances anytime they fill or when they aren't really satisfied with your ways of investment.
BUSD and USDT are really good to hold only for short term especially when the market isn't favorable. I don't like USDT despite been peg on BSC, I rather go with BUSD in Binance since they are ready for full regulations, at least I know I am self unlike tether that has been having issues from inception.

Gbniman

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In terms of technology USDT is completely secure — it's a centralized token developed on the decentralized Ethereum blockchain that's meant to be backed by 1 US dollar stored on Tether Ltd's balance sheet in the form of cash in bank accounts and government bonds.
BUSD is a stablecoin and its value is pegged to the USD or USDT value. So it doesn't make any difference. So probably but are safe.

Topic: busd or USDT safe (Read 1489 times)