busd or USDT safe - page 6. | Bitcointalksearch.org

vabchgent

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Quote from: masterrex on June 12, 2021, 07:55:09 AM

Quote from: udayantha11 on June 12, 2021, 07:41:18 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 ?

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.

reza7777

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both are still safe and I still use both, but in terms of popularity USDT is still better because it is already used as a pair on all exchanges

jasonjm

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Both of them are stable coins and could use any of them to save your money when market conditions gets tough. They never fluctuate with the market so you can trust them in tough conditions.

konflikkastil

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Personaly, considering the integrities of these two stable coin, I will say they have both come a long way as they are widely use across exchanges. You will always see usdt or tether as it's name implies, and busd the usd of version of Binance. I believe Binance has done a great job with the creation of this coin, but it's only tradable on Binance and Binance Smart Chain network. Which means it can be pair with other coin on its exchange. And just like usdt which which is also can be pair with others. One thing I know is that usdt has lot of advantage over the busd.

Vatimins

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You have a point but the thing about BUSD is that its uses are quite limited compared to the USDT that the majority of people in this industry has been very familiar with. Which makes it available on many exchanges and has several uses. Still though, BUSD is good to use despite its limitations since the binance chain is getting more and more popular nowadays plus most of the people love to trade on binance anyway so I don't see much problem with it. Everything just boils down to user preference. Maybe some time in the future there will be drastic changes that would make the first choice better than the latter but as of now, I am completely neutral.

Hobo66

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Busd and usdt both are stable coins and both are safe, but a si am using binance and i am the use of binance so i am using busd much, and also i think busd is good if you are a binance user.

ancafe

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Quote from: smartaction on June 15, 2021, 08:48:43 AM

Quote from: ?? on ??

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.

I always use USDT but But this is in case of small amount. Less then $5000. I think BUSD is more safe. So i am used BUSD when my Balance is More than $5,000

I'm like that too. however I've never used USDT in large amounts, and I don't hold back on it long term. however, USDT is indeed bigger than BUSD, but in terms of security, maybe I prefer BUSD over USDT. However, to avoid unwanted things, I don't use stable coins in large quantities.

carlisle1

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Quote from: Vishnu.Reang on June 15, 2021, 09:00:16 AM

Quote from: ?? on ??

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.

Very possible that it's from dummy entities, if they are not hiding anything it's easy for them
to allow third party company to audit their reserves but until to date there's nothing that happen with that call.

In this particular topic it's answerable by those end users who value their money, people who already understand
both coins and enjoy the transactions that they've made using this two stable asset.

the advantage depends from how the end users define the very use of every projects.

frcat

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Quote from: udayantha11 on June 12, 2021, 07:41:18 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 ?

USDT existed for years (since 2014 as I know or earlier). BUSDT is only available for 2 years. USDT is more trusted than BUSD and supported by IFinex (patrent company of Bitfinex, tether and many more).

[email protected]

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Quote from: smartaction on June 15, 2021, 08:48:43 AM

Quote from: ?? on ??

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.

I always use USDT but But this is in case of small amount. Less then $5000. I think BUSD is more safe. So i am used BUSD when my Balance is More than $5,000

security what makes the difference? what you mean probably has to do with where you trade or hold assets.
I also use BUSD more often than USDT because I do trade on Binance and keep my assets there.

Vishnu.Reang

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Quote from: ?? on ??

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.

smartaction

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Quote from: ?? on ??

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.

I always use USDT but But this is in case of small amount. Less then $5000. I think BUSD is more safe. So i am used BUSD when my Balance is More than $5,000

shinratensei_

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Quote from: Silver80 on June 14, 2021, 07:52:03 PM

busd and usdt are coins with stable prices so, just the same if they are stored it does not affect storage and will not make them 1.5 usd the coin wilt. that's my opinion

The only different thing must be the entities who have been operating these stable coins but in my understand if tether should be even trusted then binance consider it has issued more stable coin compared with the BUSD. So many people have been holding these coins for years. that proves the reliability of tether even when there are lots of stable coins in the market.

tbct_mt2

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Quote from: Coin-1 on June 14, 2021, 10:39:39 PM

However, if you are trading on PancakeSwap for example, you can only use BUSD and USDC as a stablecoin. I hope someday Tether will roll out its fourth network and issue its BEP20 tokens on the Binance Smart Chain.

As competitors, I don't see a future when Tether USD and Binance USD cooperate with each other. It won't happen soon in my opinion because Binance have their solid position and their ecoystem is on a good growth track with Binance Smart Chain, Pancakeswap.

Quote

In my opinion, the best stablecoin is USDT. Tether is a well-known, high-cap currency that is rated 3th on CoinMarketCap. The current capitalization of Binance-USD is seven times less.

Tether USD is more popular on exchanges than BUSD need more time as well as better adoption to increase its real trading volume. Pancakeswap will give BUSD a good support.

Quote

BNB, BUSD and BSC are fully affiliated with Binance, so they will all crash at the same time if this large centralized exchange gets hacked or goes bankrupt. So far BUSD is the best choice for trading on the Binance Smart Chain.

Binance ecosystem with BNB first, and later BUSD, BSC will have mutual support for each growth and together they will help to make Binance greater.

Coin-1

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Quote from: udayantha11 on June 12, 2021, 07:41:18 AM

so what is the best ?

In my opinion, the best stablecoin is USDT. Tether is a well-known, high-cap currency that is rated 3th on CoinMarketCap. The current capitalization of Binance-USD is seven times less.

However, if you are trading on PancakeSwap for example, you can only use BUSD and USDC as a stablecoin. I hope someday Tether will roll out its fourth network and issue its BEP20 tokens on the Binance Smart Chain.

BNB, BUSD and BSC are fully affiliated with Binance, so they will all crash at the same time if this large centralized exchange gets hacked or goes bankrupt. So far BUSD is the best choice for trading on the Binance Smart Chain.

tbct_mt2

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Quote from: Silver80 on June 14, 2021, 07:52:03 PM

busd and usdt are coins with stable prices so, just the same if they are stored it does not affect storage and will not make them 1.5 usd the coin wilt. that's my opinion

USDT is bigger than BUSD and is the biggest stable coin but the BUSD (Binance USD) is growing. The trading volume of BUSD is up too much in January 2021 but in fact it has been growing since its launch.

Volume is rising long trend and despite of the fall recent months, the trend is up. BUSD is connected with Binance and when Binance is growing well, this stable coin will get good support from that company. However, centralization has its risk.

Silver80

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busd and usdt are coins with stable prices so, just the same if they are stored it does not affect storage and will not make them 1.5 usd the coin wilt. that's my opinion

ingiltere

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Both stablecoins have big companies behind them, if anything happens then it will have legal consequences. That's why I trust these stablecoins at some level, it's not %100 safe but what is %100 safe anyway? Cash dollar is risky, holding it and keeping it safe cost you money. Banks may bankrupt, governments don't help you if that happens. We saw all of these in the past, remember 2001 and 2008 crisis. I don't see holding a stablecoin have higher risk than holding fiat dollar. Both have risks, both have advantages. I would trust BUSD and USDT at almost same level, I own both by the way.

harizen

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Quote from: udayantha11 on June 12, 2021, 07:41:18 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 ?

Both are good if you want to quiet stay away from volatility, if that's what "safe" you are pointing to.

Or you are referring to what if Binance scammed you? Basically, you are fuck*ed up lol.

But seriously, after all regulations, Binance won't likely to turn into a scam. You can bet on that.

albon

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Quote from: udayantha11 on June 12, 2021, 07:41:18 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 stable coins are safe and you can use them without any worries. They are important in keeping your money in the volatile market. They both have the same performance. I don't advise you to leave these two stable coins in your wallet for a long time because if the time of the market rise comes, your profits will be zero.

Topic: busd or USDT safe - page 6. (Read 1538 times)