Topic: BUSD or USDT? Which stablecoin is safer? (Read 550 times)
I think all Network have their stable coin like Binance have BUSD, WAVES coin network have theiro own stable coin USDC and Solana keep have with their stable USDT network, but talking about which one above list really safety for saving assets? I can't give ideas and opinion because afraid what did happen with luna stable coin network USTC give us experience have wat not safe when saving assets on stable coin. I think bad side from USTC why dump drastically because they make staking with higher reward than other stable coin and make them can't controlling for paying reward staking for holder.
TerraUSD is a stablecoin that previously had a value of "1 USTC = $1". At the moment it worths $0.03
Crypto market is very unpredictable and dangerous, every company is chasing power and influence on the market but the problem is that if any of them make mistake, their product and the assets of millions of people fail.
At the moment I think that BUSD and USDT are the safest stablecoin pairs for regular cryptocurrency trading but I'm afraid that Binance has so huge influence on the market that if it makes mistake, BUSD may get fucked.
USDT seems to be the safest, am I right? What are the possibilities that USDT may end up like TerraUSD?
Which stablecoin do you suggest for crypto/usd trading?
There are several stable coins in the crypto market where investors give full confidence. A few days ago, we saw the fall of the stable coin UST. Which had an impact on the whole crypto market. In recent times I have seen the huge demand for BUSD. According to my knowledge the BUSD is supported by the 100 percent US dollar which is concerned with FDIC-insured US banks. The value of BUSD is usually pegged with the USDT. So definitely BUSD is better than USDT. Crypto market is very unpredictable and dangerous, every company is chasing power and influence on the market but the problem is that if any of them make mistake, their product and the assets of millions of people fail.
At the moment I think that BUSD and USDT are the safest stablecoin pairs for regular cryptocurrency trading but I'm afraid that Binance has so huge influence on the market that if it makes mistake, BUSD may get fucked.
USDT seems to be the safest, am I right? What are the possibilities that USDT may end up like TerraUSD?
Which stablecoin do you suggest for crypto/usd trading?
TerraUSD is a stablecoin that previously had a value of "1 USTC = $1". At the moment it worths $0.03
Crypto market is very unpredictable and dangerous, every company is chasing power and influence on the market but the problem is that if any of them make mistake, their product and the assets of millions of people fail.
At the moment I think that BUSD and USDT are the safest stablecoin pairs for regular cryptocurrency trading but I'm afraid that Binance has so huge influence on the market that if it makes mistake, BUSD may get fucked.
USDT seems to be the safest, am I right? What are the possibilities that USDT may end up like TerraUSD?
Which stablecoin do you suggest for crypto/usd trading?
Crypto market is very unpredictable and dangerous, every company is chasing power and influence on the market but the problem is that if any of them make mistake, their product and the assets of millions of people fail.
At the moment I think that BUSD and USDT are the safest stablecoin pairs for regular cryptocurrency trading but I'm afraid that Binance has so huge influence on the market that if it makes mistake, BUSD may get fucked.
USDT seems to be the safest, am I right? What are the possibilities that USDT may end up like TerraUSD?
Which stablecoin do you suggest for crypto/usd trading?
I think both of these stablecoins are very safe to use as a storage tool because so far there haven't been any problems with either of them. BUSD and USDT are very suitable and safe to be used as storage. even though binance has a lot of influence, USDT still occupies a higher volume than BUSD according to Coinmarketcap.
My previous habit was to trade with usdt. But with today's open market and Tether related troubles, I use transactions with usdc or busd more. Basically, everything about stablecoins is still subject to great volatility and change in the future - Conformity or regulation. For now, some faith remains in stablecoins - it seems that after the terrible crash of ust, the mix of stablecoins will change a lot.
I have major experience to use usdt and i am still using this stable coin for sell with fiat money and transcation for others work like investment and anything else. But i believe BUSD is more safe peg for holding a big amount. Coz BUSD have a big support of Binance exchange which exchanger is a number one CEX 
In terms of safer? There's no any stable coin can compete the safeness of DAI since it's decentralized and have quite number of volume. It doesn't faster like BUSD and USDT since they're listed on all exchanges, many pairs, and have huge daily volume trade. But holding BUSD or USDT isn't safer since it's centralized, they can freeze your coins even in your own wallet. You can't know what exactly will happen in the future.
My previous habit was to trade with usdt. But with today's open market and Tether related troubles, I use transactions with usdc or busd more. Basically, everything about stablecoins is still subject to great volatility and change in the future - Conformity or regulation. For now, some faith remains in stablecoins - it seems that after the terrible crash of ust, the mix of stablecoins will change a lot.
Which stablecoin do you suggest for crypto/usd trading?
What I can just say, it doesn't matter what stablecoin you used in trading as the most important is that you know how to do an exit when the situation turns difficult, stop-loss is really helpful.
I think a large amount of cash held in the BUSD stablecoin makes BUSD more reliable. Also, the fact that Binance is the world's largest cryptocurrency exchange is an essential factor.
BUSD fully backed by fiat money. That makes BUSD become very stable at this moment and support from the newyork regulators have been making BUSD become even more reliable compared with the another stable token in the market. Binance is having unlimited reserved funds and that makes binance is very very big at this moment compared with another exchange site in the market.
I've tried a lot of stable coins and for now I think I prefer BUSD over others, the reason is because the transfer fee is cheap because it's on the BSC network and of course BUSD is a coin that has a strong reputation, this is what makes me always switch assets to BUSD or stable coins if I get the profit I planned.
Both are the same I think in term of safety, USDT could be completely messed up if people find out that Tether are not completely honest about the amount of USD they are holding to back up the coin, while BUSD depend on how Binance are going, if a new exchange become more popular, or Binance got hacked pretty bad, BUSD might collapse.
And I think most people do not consider stable coin as an investment, they just using for payment or just to hold some money on exchange while the market going sideway.
And I think most people do not consider stable coin as an investment, they just using for payment or just to hold some money on exchange while the market going sideway.
I also use both, when I use binance I prefer to use the busd, with a little favor from binance, but the rest of the time I use the usdt. Both are not secure but using them is a must if you are a regular crypto trader, especially during a bear market, stablecoins are pretty much used to avoid crypto volatility or use them to catch dips during bear season. Stablecoins are for temporary jobs, don't invest in them as they do not generate profit and risk due to them.
Both are the same I think in term of safety, USDT could be completely messed up if people find out that Tether are not completely honest about the amount of USD they are holding to back up the coin, while BUSD depend on how Binance are going, if a new exchange become more popular, or Binance got hacked pretty bad, BUSD might collapse.
Isn't it the case though for them, however, no one still has proofs that they don't have the billions of money to back it up 1:1. And yet they still survived in the market for at least 2 bearish cycle already.
And I think most people do not consider stable coin as an investment, they just using for payment or just to hold some money on exchange while the market going sideway.
Yep, I don't consider them investments as well, it's just somewhat to peg your crypto 1:1 to usd so that you will not lose money specially if the price is going on a downward spiral.
Both are the same I think in term of safety, USDT could be completely messed up if people find out that Tether are not completely honest about the amount of USD they are holding to back up the coin, while BUSD depend on how Binance are going, if a new exchange become more popular, or Binance got hacked pretty bad, BUSD might collapse.
And I think most people do not consider stable coin as an investment, they just using for payment or just to hold some money on exchange while the market going sideway.
And I think most people do not consider stable coin as an investment, they just using for payment or just to hold some money on exchange while the market going sideway.
TerraUSD is a stablecoin that previously had a value of "1 USTC = $1". At the moment it worths $0.03
Crypto market is very unpredictable and dangerous, every company is chasing power and influence on the market but the problem is that if any of them make mistake, their product and the assets of millions of people fail.
At the moment I think that BUSD and USDT are the safest stablecoin pairs for regular cryptocurrency trading but I'm afraid that Binance has so huge influence on the market that if it makes mistake, BUSD may get fucked.
USDT seems to be the safest, am I right? What are the possibilities that USDT may end up like TerraUSD?
Which stablecoin do you suggest for crypto/usd trading?
It's clear we've all seen how TerraUSD fails with DEV management, and as soon as the incidents unfold, it presents itself as another bluff from the bump/dump.Crypto market is very unpredictable and dangerous, every company is chasing power and influence on the market but the problem is that if any of them make mistake, their product and the assets of millions of people fail.
At the moment I think that BUSD and USDT are the safest stablecoin pairs for regular cryptocurrency trading but I'm afraid that Binance has so huge influence on the market that if it makes mistake, BUSD may get fucked.
USDT seems to be the safest, am I right? What are the possibilities that USDT may end up like TerraUSD?
Which stablecoin do you suggest for crypto/usd trading?
I think the crypto space has more secure and transparent things. I see a lot of stablecoins such as USDT, BUSD, USDC, DAI, etc., all of which bring certain reassurance about them.
Busd or usdt is safe they are stable and yet we can easily convert our asset to this two coins when it needed, almost all crypto related wallet has busd and usdt so it is very easy to swap or convert if we meet our limitations on every gain or loss we made. We cannot gain profit if we hold this coin however this is still very useful coins in crypto.
BUSD is a stable coin Just like USDT. In my opinion I think every investment we make online is a risk, so we must understand the risk factor of what ever transaction we perform online before undergoing the process, USDT has been introduced earlier before BUSD but that doesn't make it 100% trusted or safe, Binance has passed through different phases in the crypto market for over 5 years now, and I think the BUSD is just as safe as USDT.
After this regulation, many stablecoins will not be safe.
https://decrypt.co/106134/u-s-stablecoin-bill-pushed-after-august-recess
US Stablecoin Bill Pushed to After August Recess
Proposed bipartisan legislation on stablecoins has been delayed until after Congress returns from its August recess, said Rep. Maxine Waters.
https://decrypt.co/106134/u-s-stablecoin-bill-pushed-after-august-recess
US Stablecoin Bill Pushed to After August Recess
Proposed bipartisan legislation on stablecoins has been delayed until after Congress returns from its August recess, said Rep. Maxine Waters.
...What are the possibilities that USDT may end up like TerraUSD? ..
These are completely different stablecoins, since USDT is centralized, and UST is decentralized. UST problems are comparable to other decentralized USDN stablecoins and
USDD, since they are all algorithmic. So if the USDT issuer has problems, then its collapse will be caused by other circumstances that are not similar to UST.
Which stablecoin do you suggest for crypto/usd trading?
For trading, using USDT is a lot better because it is commonly used on many crypto exchanges. There are also a lot of pairs using that stablecoin than the others. While BUSD is only exclusive to binance and have only few pairs to trade in BUSD/alt.
In terms of safety, the popular stablecoins that we have now is backed by a private entity and each of them have their own flaws so what I do is I diversify my holdings into USDT, USDC, and BUSD.
I'm afraid that Binance has so huge influence on the market that if it makes mistake, BUSD may get fucked.
BUSD belongs to Binance. So all these tokens are owned by exchanges, and if something happens to them, these stablecoins could crash.
This is wrong.Binance does not "own" BUSD. The stablecoin is administrated by Paxos (paxos.com), whichs offers whitelabel services so other exchanges or companies (like Binance with the BUSD, or Huobi with the HUSD) can have their branded stablecoin: https://paxos.com/stablecoin-and-payments
If Binance or Huobi breaks, BUSD and HUSD will be fine.
I think USDT is better and more stable than BUSD, moreover the choice of many networks such as TRX, ETH, and others makes me prefer USDT, when there are high price fluctuations I will not send stable coins because usually there are very high transaction fees.
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