Topic: busd or USDT safe - page 5. (Read 1538 times)
Actually, if you ask me, I'd say both are safe. The problem is I just remember a lot of lawsuits were filed for usdt but I didn't follow the process. I mostly use busd, the commissions are almost free, of course when I use usdt depending on the situation.
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 ?
for me both are safe...so what is the best ?
busd is a stable coin backed up by binance and usdt tether is a stable coin that has been in position 3 of the marketcap for a long time. you don't have to worry about the government, they definitely won't disturb the stable coin.
~
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. They don't guarantee a physical dollar backs every USDT and the money that does back it is stored in offshore banks.
So I would consider BUSD to be a safer stablecoin,
If you really think that BUSD is safe why Binance is running from every country that files a lawsuit and not fight against it. They claim that they are audited and it is advertised like that everywhere but i need to check everything to accept their claim because for the longest time USDT was claiming to be audited even though there is nothing visible for the public to verify. Here BUSD claims about their audit but has anyone verified that.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. They don't guarantee a physical dollar backs every USDT and the money that does back it is stored in offshore banks.
So I would consider BUSD to be a safer stablecoin,
~
If that is the case, then why people not save their dollars in BUSD and keep them in USDT. Even though there are charges against USDT but why people still keeping the funds in USDT and not shifting to BUSD or USDC ?
It is unfortunate to see that people are still trusting USDT even with all the lawsuit and the lack of transparency, we need to understand that popularity does not mean that it can be trusted, i do not trust either of these because of obvious reasons, BUSD is owned by Binance and USDT which is murky. If that is the case, then why people not save their dollars in BUSD and keep them in USDT. Even though there are charges against USDT but why people still keeping the funds in USDT and not shifting to BUSD or USDC ?
TRC20 on Tron, and OMNI in Bitcoin Network, while BUSD or the Binance USD isn't generally utilized besides in the Binance trade however BUSD likewise utilized the BSC and Binance Chain Network, and if you were to ask me which is better I will pick the USDT yet with the exception of those warnings. I have been utilizing USDT since a couple of years prior and I never experience any issue with it.
Both coin are safe and secure these both coin are stable and never dump but I think busd is more better then usdt busd is binance exchange own coin so I recommend busd and do any trade In busd Reason for selecting busd .Usdt is not audit yet but busd Audited and safe coin
So far neither has had any issues for me and don't think too negatively about either of them.
the difference is that it only runs on a different blockchain, its purpose remains the same, namely securing your assets when trading.
the difference is that it only runs on a different blockchain, its purpose remains the same, namely securing your assets when trading.
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 ?
In my opinion, both stable coins have the same function, namely as a benchmark for the value of fiat currency, so if we look at this, BSUD is fairly similar to other stable altcoins and maybe only USDT is slightly different and you could say, using BSUD as a pair is better safe compared to using USDT in terms of audit, regulation and storage which are based on the value of the US dollar, for value security and free from controversy or fluctuations in the price of stable coins, because crypto-related issues or cases certainly make BSUD the right choice for stable coins for investment or for buying and selling pairs on Binance today.so what is the best ?
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 ?
so what is the best ?
BUSD was the USD used in Binance only but for all of the exchange or most of them uses USDT, some people say that USDT is not safe but some people say it is safe since it was backed up by $1 I'm not really sure about it but as you can see it's the USD of the cryptocurrency and I consider it as a safe money like selling Bitcoin on top and convert it to USDT to be stable and waiting for reentry and buy Bitcoin again, it would also help you to avoid crash in the market.
Both are safe but my personal view is that Busd is more secure than Usdt because its Binance exchange own exchangeable stable coin while Usdt is total decentralized token like others token and if stopped working you can lose money.
Tether (USDT) and Binance USD (BUSD) Both coin are Stablecoin. thous coin price will not dump or Pump. So we can Trust and Store both coin when market conditions is ruin.
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. They don't guarantee a physical dollar backs every USDT and the money that does back it is stored in offshore banks.
So I would consider BUSD to be a safer stablecoin,
If that is the case, then why people not save their dollars in BUSD and keep them in USDT. Even though there are charges against USDT but why people still keeping the funds in USDT and not shifting to BUSD or USDC ?
Tether (USDT) and Binance USD (BUSD) Both coin are Stablecoin. thous coin price will not dump or Pump. So we can Trust and Store both coin when market conditions is ruin.
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. They don't guarantee a physical dollar backs every USDT and the money that does back it is stored in offshore banks.
So I would consider BUSD to be a safer stablecoin,
it doesn't seem to be a strong proof. If USDC was not properly audited and mastercard will not create a very good cooperation to create a new payment system through use USDC. As far as I know USDC was a very transparent stable coin and it's not the same like USDT. I think that if it's must be included in the exception
I mostly used stable coins trading pairs for trading like BTC/BUSD or BTC/USDT. Why? That is because whatever happens on the market, even there is a huge decline, your money where still safe provided that it was already converted into BUSD/USDT.
The other reason why I have fun using them is the volatility of the market where stable coins don't have and avoiding it to lose our money when dumps had come. When seeing the decline, I use to switch it back to BUSD and then wait for the moment when the market is showing well.
The other reason why I have fun using them is the volatility of the market where stable coins don't have and avoiding it to lose our money when dumps had come. When seeing the decline, I use to switch it back to BUSD and then wait for the moment when the market is showing well.
Both are safe because both same as stable coins which are often traded by traders and just a little different. For USDT we can found it on all exchange with a variety of different chains with different fee withdrawals also every chain but for Busd is still closely connected with binance and not all market listings busd,besides that trading pair is also very limited. Btw im also used BUSD and USDT very often and USDT still my option to safe my porto if market crashed.
I trust Usdt more, it still exists despite all the courts and claims. But at the same time, busd deserves attention, because the binance exchange trustworthy.
As far as USDT is concerned, the court cases are not settled and their funds can be seized (although the possibility of that happening is very low). Till now they have refused a third party audit on their reserves. Also, they have refused to provide a detailed breakup of the reserve funds. All we know is that around 49% of the reserves is made of "commercial paper". Now this commercial paper can be from trustworthy companies, or from shady entities. Since they are refusing to provide a detailed breakup, I would assume that it is the latter case.
I am not sure why people are saying that BUSD is safer than USDT. In case, any thing wrong happens with USDT, i think it will also impact BUSD.
Also is BUSD 100% backed by the binance exchange ? If so, can you give any evidence ?
https://web.facebook.com/waqarzaka/posts/371816081177420
I trust Usdt more, it still exists despite all the courts and claims. But at the same time, busd deserves attention, because the binance exchange trustworthy.
As far as USDT is concerned, the court cases are not settled and their funds can be seized (although the possibility of that happening is very low). Till now they have refused a third party audit on their reserves. Also, they have refused to provide a detailed breakup of the reserve funds. All we know is that around 49% of the reserves is made of "commercial paper". Now this commercial paper can be from trustworthy companies, or from shady entities. Since they are refusing to provide a detailed breakup, I would assume that it is the latter case.
I am not sure why people are saying that BUSD is safer than USDT. In case, any thing wrong happens with USDT, i think it will also impact BUSD.
Also is BUSD 100% backed by the binance exchange ? If so, can you give any evidence ?
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 ?
so what is the best ?
IMHO, I think both Stablecoins are indeed useful for different purposes, USDT or Tether is widely used in almost every centralized exchange, and Tether was also used the three important Network such as ERC20 on Ethereum, TRC20 on Tron, and OMNI in Bitcoin Network, while BUSD or the Binance USD is not widely used except in the Binance exchange but BUSD also used the BSC and Binance Chain Network, and if you ask me which is better I will choose the USDT but except for those red flags.
Yes but when you want to transfer between exchanges I think USDT sucks actually. The withdrawal fees are outrageous and the problem with BUSD is that not so many exchanges provide accounts and trading pairs for it. TRX is a good alternative to transfer between exchanges though.
But not many platforms are having their USDT-TRC20. This is really a very good alternative if it is available as the fees are very minimal when you interact with Tron network. But when it comes to comparing USDT vs BUSD, I think I will be more on BUSD as they have insurance in place. However, with USDT, they have history of not being fully backed by USD assets. So I don't know if today, they are telling the absolute truth about their assets. In any case, just be careful holding USD related stablecoins.
I think that the problem is that a good number of exchanges hasn't implemented or supported BUSD yet. Maybe it is because they have their own stable token and don't want to support another one, but cheap transactions between exchanges is really important.
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 ?
so what is the best ?
IMHO, I think both Stablecoins are indeed useful for different purposes, USDT or Tether is widely used in almost every centralized exchange, and Tether was also used the three important Network such as ERC20 on Ethereum, TRC20 on Tron, and OMNI in Bitcoin Network, while BUSD or the Binance USD is not widely used except in the Binance exchange but BUSD also used the BSC and Binance Chain Network, and if you ask me which is better I will choose the USDT but except for those red flags.
Yes but when you want to transfer between exchanges I think USDT sucks actually. The withdrawal fees are outrageous and the problem with BUSD is that not so many exchanges provide accounts and trading pairs for it. TRX is a good alternative to transfer between exchanges though.
But not many platforms are having their USDT-TRC20. This is really a very good alternative if it is available as the fees are very minimal when you interact with Tron network. But when it comes to comparing USDT vs BUSD, I think I will be more on BUSD as they have insurance in place. However, with USDT, they have history of not being fully backed by USD assets. So I don't know if today, they are telling the absolute truth about their assets. In any case, just be careful holding USD related stablecoins.
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 ?
Actually USDT (Tether) and binance supported USDT (BUSD) two both coins are very much popular and stable coin. It's price always constant and never dumped when all cryptocurrencies market crashing. You can choose both coins for researving your cryptocurrencies. so what is the best ?
i think both of them are safe, and both of them are centralized, so you can make complain something happen to your asset.
but in some case i hear some people usdt got frozen by unknown reason, but so far me, i haven't any trouble using usdt or busd.
I also use BUSD and USDT very often and have never experienced any problems, be it in the form of freezing or anything else, because as long as I use both, I am always safe and have never had any problems, so I think BUSD and USDT have nothing need to be blamed.but in some case i hear some people usdt got frozen by unknown reason, but so far me, i haven't any trouble using usdt or busd.
Tether has so far still earned the trust of crypto users. Almost all markets use Tether. BUSD is a stable coin from Binance, if we doubt BUSD, then we need to doubt Binance. This means that BUSD is also safe, and will become the number two stable coin.
Jump to: