busd or USDT safe - page 7. | Bitcointalksearch.org

kenelmark

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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 ?

You said that if something happens to BUSD, then you can show Binance. Of course if something happens with USDT, then you can show the Tether company. BUSD only works with a few crypto companies, and its parent Binance. If something happens to Binance, let's say the company goes bankrupt. What would you do? USDT is listed on all exchanges, if anything happens to the Tether company, there are many other exchanges that support USDT.

Yamifoud

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Both of them are safe to hold...actually, I'm using BUSD for trading pairs and if we compared to USDT, there is no difference.
Holding stablecoins is not really the best idea when you wanted to grow your money unless if you just think about safety and less risk. But for me, I'd rather have to take a risk holding/staking those highly volatile coins than these stablecoins.

Farma

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Well, we've seen that CZ always solves problems with Binance, and in this case, it's probably safer to use BUSD than USDT. unfortunately, I've been using USDT too many times and turned to BUSD as an alternative. for now, I don't keep both, but if I was going to use them I might choose USDT for now.

jjdub7

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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.

I agree with this opinion, both coins have their purpose and both are good to use. USDT/Tether is the best option to transfer funds between different accounts on different crypto exchanges and has a fairly wide acceptance and application in different networks. Perhaps for this reason, the more common and preferred coin is the Tether (but the purposes for which you need these coins also matter).

SaveOurSea

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of course, USDT and BUSD are stable safe coins, there have been no cases of people losing USDT or BUSD in their wallets, and on good exchanges,
yes because stable coins are also cryptocurrencies, of course both are safe, and the most important thing is USDT and BUSD have a lot of liquidity in the market,
making transactions safe and comfortable, oh yeah There are a few things to consider if you want to sell BUSD, because BUSD is only available for Binance users,
so don't be surprised if BUSD is not found on exchanges other than Binance

acdc

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At the moment USDT has many advantages over BUSD.
If you use USDT you will have more choices if you want to use different exchanges. Meanwhile, if you use BUSD, you will have limitations if you want to use this currency.

J1mb0

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At the present time, USDT is probably more used by people than BUSD, USDT is a pretty reputable currency and it is available on most exchanges.
Because USDT is available on more exchanges I am currently using USDT , but in the future I will most likely try using BUSD.

CaptainCrapper

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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 ?

I think both is safe but if you transaction Busd transaction costs is free.but usdt is need transaction fee.we have to know every exchange is support usdt so on the sence usdt is safe more than busd.

leatutz

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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 ?

Still now, I don't use BUSD, but I've been following BUSD since it launched. Binance is trying to provide all kinds of service and monopoly. The Tether is also part of centralization. I will suggest using DAI if you want to be very safe, but not possible 100 percent. I'm always using Tether on Tron blockchain, but even some exchange withdraw costs are free.

trauchot

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I have been using both busd and usdt for a long time, so you can trust both stable coins, and in general, many people have recently been worried about holding their money in usdt, and therefore some time ago I saw article that was confirmed by SEC or someone else that creators of usdt really have a lot of money and all printed usdt are also available in fiat money, so don't worry about usdt, this stable coin is 100% backed by real fiat money, thats why I holding almost all my money in usdt.

Desscount

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nothing bad, because these two stable coins already have a high level of trust,
BUSD is trusted by Binance users, and USDT is trusted by users of all exchanges, yes, USDT is the king of all stable coins,
look at coinmarektcap, USDT is at top 5 and one of the stable coins that has a lot of marketcap,
so USDT is the safest in my opinion, even though BUSD is also safe

Golftech

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Quote from: Vishnu.Reang on June 13, 2021, 09:52:11 AM

Quote from: Bohdan820 on June 13, 2021, 09:27:14 AM

USDC is more preferable for me if I need to store funds. I use USDT & BUsd more often but still I have less trust. DAI has also worked well lately.

Agree with you on USDC. It seems to be one of the trustworthy stablecoins. But at the same time, BUSD won't be a bad choice. Binance is the largest cryptocurrency exchange right now and they have maintained their reputation intact till now. My concern with BUSD would be related to centralization and not regarding the reserves. That said, there is no doubt that I would prefer either USDC or BUSD over Tether anytime of the day. Both of them can be trusted more than USDT and the Bitfinex exchange which issues the token.

Choosing in between, you said it right both coins are good and the reason with your words are fair enough

to rust those assets compared to USDT, you have to assess though if how far you understand and trust those

creators of this stable coins, from there you'll be able to start your journey.

santiPOGI

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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 ?

They are both has a potentials good to hold in the long term mate, I don't see any bad insight about them. In fact, both are really helpful in giving earnings by doing trade in the exchange platform actually. In short, they are both safe for me. Why? because Most of the time I used usdt through buying coins in alts while Busd for me was being useful via farming or staking something like that.

Vishnu.Reang

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Quote from: Bohdan820 on June 13, 2021, 09:27:14 AM

USDC is more preferable for me if I need to store funds. I use USDT & BUsd more often but still I have less trust. DAI has also worked well lately.

Agree with you on USDC. It seems to be one of the trustworthy stablecoins. But at the same time, BUSD won't be a bad choice. Binance is the largest cryptocurrency exchange right now and they have maintained their reputation intact till now. My concern with BUSD would be related to centralization and not regarding the reserves. That said, there is no doubt that I would prefer either USDC or BUSD over Tether anytime of the day. Both of them can be trusted more than USDT and the Bitfinex exchange which issues the token.

michellee

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So far, I use usdt than busd. I prefer to use usdt as I know this token for a long time ago. Besides that, I choose usdt because usdt are available in many wallets, so we do not have a problem if we want to send the amount to the other wallets. Although busd back up by binance, I still choose usdt and I consider that usdt is good for me.

Bohdan820

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USDC is more preferable for me if I need to store funds. I use USDT & BUsd more often but still I have less trust. DAI has also worked well lately.

Vishnu.Reang

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Quote from: sempak on June 13, 2021, 08:58:01 AM

Well I tried to look a little on some sites and see that it was backed by 1 USDT. But in my opinion I think we could trust this stable coin.

How can you trust USDT, when it is not 100% backed up with real cash. Only 2.94% of the reserves is made up of cash. The remainder is made up of fiduciary deposits (18.36%) and various bonds and stocks. The biggest share is made up of "Commercial Paper" (49.60%) and it is this section that worries me the most. They haven't provided any further breakdown on this, and I will be very worried if they are mostly composed of unsecured loans and stocks. The fact that Tether is refusing to provide the breakdown makes me suspicious.

Dread Pirate Roberts

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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 stable coin choices as they are clearly backed up. but I prefer usdt, even if the coin that I want to sell is not paired with usdt, I have no doubts or hestitate to using busd because both are pretty much the same if the purpose only for temporary asset transfer.

sempak

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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 ?

I don't really think those coin have backups to real currency or any asset but some people say it is not safe because if people lose trust to these stable coins, these coins wouldn't have any value at all. Well I tried to look a little on some sites and see that it was backed by 1 USDT. But in my opinion I think we could trust this stable coin.

Darktongue

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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 ?

In the future, those stablecoins could be a great competitor one for one. Tether volume is higher than the Bitcoin volume where BUSD volume is only 2 billion. BUSD is offered by Binance exchange and we can trust BUSD. Both altcoins have centralized control, decentralized stablecoins are the best, but we don't talk about those stablecoins altcoins. I'm using Tether because of transaction cost, but centralize exchange withdraw cost is high.

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