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Topic: BUSD or USDT? Which stablecoin is safer? (Read 550 times)

sr. member
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SOL.BIOKRIPT.COM
July 30, 2022, 01:43:03 AM
#58
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.
hero member
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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.
full member
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cro.baby
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?

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.
legendary
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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
legendary
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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.
full member
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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.
sr. member
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Which stablecoin do you suggest for crypto/usd trading?
I usually used USDT in pair with Bitcoin when trading, and even use it for altcoins. I would it was safe to use this base on my experience. But, this never means that it all be the same experience with others, not even to say the use of USDT will assure safety because it all depends on the trader.
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.
hero member
Activity: 2268
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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.
full member
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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.
legendary
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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.

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.
hero member
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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.
sr. member
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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.
full member
Activity: 783
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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.
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.
MiF
sr. member
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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.
member
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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.
legendary
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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.
legendary
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To the Moon
...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.
hero member
Activity: 2366
Merit: 594
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.
hero member
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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.
Thank you very much for enlightening me, I really didn't know that.
member
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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.
legendary
Activity: 3276
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USDT is definitely crap. BUSD is probably equally shit but maybe a little bit less. In the end it all comes down to "cat shit" vs "dog shit". Stable coins are all shit. The only thing changes with them is their color.

All of these stable coins are not audited and that means the issuer can freely print whatever amount he wants.

Safety? This feature don't come with these products.
sr. member
Activity: 2296
Merit: 315
SOL.BIOKRIPT.COM
Nowadays I use active trade with pair BUSD except without fees transaction on Binance I prefer for believing with BUSD than USDT, I don't know what exactly reason have to choose with BUSD because every profit earn covert to cash money and withdraw it. Not hold between BUSD and USDT for long term after looking crash price what happen with other stable coin UST. But between BUSD and USDT looks worth with BUSD because back up by Binance exchange and looks trusted than USDT, I don't judge with USDT is not worth but looking with product have by BUSD make us more priority for saving and choose BUSD than USDT.
hero member
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I guess, both will be safe but that will depend on your purposes because if you want to hold your funds and do not want to see the up and down of the price, both stablecoin will be good to have. But if you only use stablecoins for temporary saving your funds value, and will use the stablecoins for buying the altcoin or bitcoin, that will be no problem at all. But I do not think that USDT will be like UST although that could possible and both USDT and BUSD is good for trade.
legendary
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Which stablecoin do you suggest for crypto/usd trading?
For trading its always best to use usdt for more volume. But if you are using Binance platform for trading then, I suggest you used busd. They also have pairing with considerable volume plus you dont have to pay trading fee which is quite convenient in my opinion. In terms of safety then go for busd much better in terms of backing  compared to usdt.
legendary
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Why ask by the way? Are you planning to convert your asset to either BUSD or USDT in this bear market? If that's your plan, consider staking them on platforms like mycointainer.com You'll have a nice 10% annual return while your token is on long-term storage. As always, DYOR.
Holding assets in stablecoins already brings some risk to our assets and it would be even more dangerous to place it on centralized lending platforms. We've seen a bunch of lending platforms crash in a short amount of time, so I don't think this is the right time to stake.
Staking is not bad but it is better to limit at the moment.
I get your point. Using stable coins is not without risk. Currency devaluation like what happened to UST is always there and it also applies to fiat currency (Bolivar). If staking in a completely centralized manner is not an option at the moment, there are also other methods like mycointainer's cold staking that's available. They don't offer USDT/BUSD for that but you can delegate other coins like AVAX and MATIC. You can also try adding to the liquidity pool (farming) on some decent DEX that still have stable coin pairings.
full member
Activity: 2044
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Currently there are 3 very good stable coins, they are BUSD, USDT and USDC. I think all three are very good, they have very strong fundamental support, but when asked between BUSD and USDT, I see that BUSD is still the best, because BINANCE's very dominant support is its strength.
full member
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(...)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 don't have a lot of damage with Terra, so I have a pretty simple idea of what they are: dangerous things that give out attractive offers. And here when talking about BUSD or USDT, I think it is in a completely different position and the companies that support it are also a part of this market, not a newcomer. And besides, I also regularly trade USDC and DAI stablecoins that I fully trust and hold.
legendary
Activity: 2534
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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?
If you have to hold some fiat then why not do it directly? I mean stable coins provide an important function to the market, but if you are not a short term trader and instead you are an investor then I do not see the point of using stable coins when you can use fiat directly to stay away from the market when it is going down or the volatility is too high for you, but if you do not really have any other option then for the moment I think USDT is the best out of the two.
hero member
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I think we can't compare UST which has nature of being algorithmic with other coin like BUSD that's backed by real money, BUSD and similar coin definitely harder to crash since they are backed for real meanwhile the algorithmic nature of UST makes it a lot more complicated and could cause crash.
from the choice you were given, I think BUSD is better than the other because it's backed by big company like binance and is audited if i remember correctly.
sr. member
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I prefer USDC, USDT, DAI. These stable coins have good marketcap, high volume and tradeable on almost all exchanges. Personally maximum time I hold USDT due to abnormal market conditions.

Binance BUSD is also good. Binance is the leading cryptocurrency exchange and always has the advantage of using BUSD on Binance. You can participate in Binance Launchpad, Launchpool by holding BUSD.
hero member
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There is no safe concept for stablecoins as they are all centralized, but their use is essential. If you are using binance exchange then busd will be the choice for you as it is binance product. USDT is known to be the first stablecoin in the market and is supported by most exchanges so it is very convenient to use USDT. The difference in these 2 coins is not too big, you can use whatever token you want, but use them only when necessary and are not considered safe savings.

member
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Both of them are safe, nothing to be feared about what happened to TUSD though it's very traumatic that stable coin now are not safe because of the downfall of one of the stable coin in the market. Nonetheless, BUSD and USDT both pegged to dollars and they already proven many years that they are really a stable coin after all with so many years in the crypto market.
sr. member
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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 also think that the two stablecoins that you have mentioned, USDT and BUSD should be pretty safe. There are huge companies behind them which should have enough resources to back the stablecoins that they are minting. I know that there have been rumors regarding USDT for a few years now that we can not be 100% sure anymore if they are really having enough resources to back every USDT that they are minting because they changed the wording regarding that topic a while ago, but recently i have read that the company behind USDT got audited a few times and that everything was fine.
My personal favorite of all stablecoins is USDC though. Even during the bear market of the last months it was always at 1 $.
member
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Which stablecoin do you suggest for crypto/usd trading?
For now I think BUSD is safe, however everything is unpredictable, because the Binance platform was hacked once, it is possible that in the future the stable coin price will not equal the usd for some reason, but for now I think it is safe if BUSD has dollars reserve is 1:1
sr. member
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Why ask by the way? Are you planning to convert your asset to either BUSD or USDT in this bear market? If that's your plan, consider staking them on platforms like mycointainer.com You'll have a nice 10% annual return while your token is on long-term storage. As always, DYOR.
Holding assets in stablecoins already brings some risk to our assets and it would be even more dangerous to place it on centralized lending platforms. We've seen a bunch of lending platforms crash in a short amount of time, so I don't think this is the right time to stake.
Staking is not bad but it is better to limit at the moment.
legendary
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To the Moon
but the DAI itself backed by crypto stablecoin like usdt and USDC as far that I know

https://cdn.decrypt.co/resize/950/wp-content/uploads/2022/05/unnamed-7.png.webp

Based on the graph you have given, I do not see that DAI is backed by the USDT stablecoin. In addition, there is a big difference between USDC, which you are writing about, and BUSD and USDT, the first of which is more preferable to maintain your balance. In addition, each of the DAI security coins, including the USDC, exceeds the level of security by more than 150%.
legendary
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~
but I'm afraid that Binance has so huge influence on the market that if it makes mistake, BUSD may get fucked.
Using the same logic, USDT may get screwed if Tether makes an even bigger mistake than what already happened to them. It's the same case with the issuers of USDC (Circle) or any other centralized stable coin.

USDT seems to be the safest, am I right? What are the possibilities that USDT may end up like TerraUSD?
When we're talking about the peg to $1, it probably won't lose like UST but the same can be said with BUSD and USDC. All mentioned stable coins have asset backings that are periodically reviewed and reported.



Why ask by the way? Are you planning to convert your asset to either BUSD or USDT in this bear market? If that's your plan, consider staking them on platforms like mycointainer.com You'll have a nice 10% annual return while your token is on long-term storage. As always, DYOR.
full member
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I feel that busd is more convenient for me to use personally, busd is always audited by a third party company every month to ensure that 1 busd is equal to 1 dollar. although usdt is also a good stable coin so far but there are many rumors that its validity is unbelievable.
hero member
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I wouldn't really consider it much of a problem if you're only passing the money through stablecoins temporarily to do something. As long as it isn't considered as an investment and you have no plans to actually wait to somehow profit off of it, then I think either would work pretty well, and I myself mostly use those two if needed. There still exists the risks of the coin being frozen by the company that created them though so I honestly wouldn't recommend holding your money in stable coins as much as possible.
hero member
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You own the pen
I'm gonna go for BUSD since I'm using it often when I convert some altcoins in BSC smart chain however when I used both of them, I never find any problem for those two are really convenient to use especially when you need them. As of now, my choice is BUSD because they have a feature in Binance where you can sell it using P2P which makes it more efficient to choose because you can dump it whenever you like.
copper member
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Your concerns are not unfounded, since the security of BUSD directly depends on the security of the Binance exchange. But at the same time, you should remember that BUSD aud USDT are centralized stablecoins, unlike decentralized DAI. Thus, if you are a supporter of decentralization, then it would be logical to use decentralized stablecoins.


but the DAI itself backed by crypto stablecoin like usdt and USDC as far that I know

https://cdn.decrypt.co/resize/950/wp-content/uploads/2022/05/unnamed-7.png.webp
hero member
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USDT was not the safest. USDC and BUSD were safest stable tokens.
But USDT remain like USDC and BUSD in term of safety if they are all fiat backed stable coins.
The approval from NYDFS makes BUSD and USDC far better than USDT. I don't see that if USDT supporter/approved by regulators. What i can see from tether if this stable token was still making regulators remain anxious. In here approval from regulators are showing how capable the stable token is. The main aim by NYDFS to make the stable token as a safe innovation to be used by its citizen.
staff
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Neither BUSD nor USDT are the safest assets. Both assets are centralized, do not fully back their tokens with dollars, are subject to censorship in terms of address blocking, and are subject to peg loss during market turmoil. When it comes to centralized assets, the word "security" is out of place here. If we are talking about secure stablecoin, it is only about DAI and similar assets, but definitely not about USDT, especially on the Ethereum blockchain.
legendary
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But personally I still trust USDT, for me it is time tested.
There is nothing better than to have your money in fiat, USDT can be freezes on noncustodial wallet, so people that have it do not have full control just like fiat but fiat is secure than stable coins.

USDT was not the safest. USDC and BUSD were safest stable tokens.
But USDT remain like USDC and BUSD in term of safety if they are all fiat backed stable coins.
hero member
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You can't compare UST with some stable tokens like BUSD and USDC. UST has been made as algorithmic stable token that peg on its native blockchain coin called luna. It's not fully backed by fiat money. USDT was not so transparent and for me USDT seems to be a manipulative stable token.

What mistake? So far binance was always operating perfectly. It's become transparent and its stable token backed by the fiat money.

Using stable token that issued by profit based entity was far better caused by it has real reserved funds to backed the stable token.

USDT was not the safest. USDC and BUSD were safest stable tokens.

That's why both were approved by NYDFS https://www.dfs.ny.gov/reports_and_publications/press_releases/pr1909051
hero member
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BUSD and USDT, they are both safely, the most safest amongst many stable coins on the market. List of stablecoins from Coingecko.

They are safest stable coins because they have real fiat currencies in their reserves, to back their pegs.
They are good because they have highest trading volumes.

However, always avoid to put all your eggs in one bag. Don't put all your stable coin into either BUSD or USDT. You should decentralize them to both USDT, BUSD and one or two more stable coins. Avoid algorithm stablecoins that are not safe with their concept and current algorithms.

legendary
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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.
legendary
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To the Moon
...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...

Your concerns are not unfounded, since the security of BUSD directly depends on the security of the Binance exchange. But at the same time, you should remember that BUSD aud USDT are centralized stablecoins, unlike decentralized DAI. Thus, if you are a supporter of decentralization, then it would be logical to use decentralized stablecoins.
newbie
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No doubt in these option, you should go for busd because it is highly backed by moat famous and number one exchnage which is also a centralized exchange known as Binance, they have full reserves of their busd stable coin, while usdt have trillion of supply and there is no chance in it that they had full reserve according to their current usdt supply,
legendary
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USD is an algorithmically stablecoin, backed by cryptocurrencies, BUSD and USDT are backed by USD so both are stablecoins but they are not the same. In addition to BUSD and USDT, we also have USDC which is also a stablecoin that is being used a lot in recent times. Personally, I see that these 3 stablecoins are not much different, they are all centralized and controlled by the company, so it can be said that the risk is the same. You can use 1 of the 3 types above don't necessarily compare because they don't have much difference.
sr. member
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I think these stabelcoins are equally safe, if you can call it that. USDT belongs to Bitfinex, BUSD belongs to Binance. So all these tokens are owned by exchanges, and if something happens to them, these stablecoins could crash. But personally I still trust USDT, for me it is time tested.
hero member
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Dai as the option of being decentralized but relying upon the dollar-pegged stablecoins, despite the issues that USDT has taken. We can say that volume speaks for itself. I guess just put it on this logical thinking that anything with these stablecoins has some possibility that all of them can go wrong. CMIIW, all of these centralized stablecoins are being backed up by huge exchanges.
legendary
Activity: 2660
Merit: 1261
-snip
Agree.

As long as not choosing any stablecoin backed like UST system should be fine and stablecoin backed with FIAT (USD) still a strong stable coin until now. A long time ago, my local exchange have using my fiat currency (So it's really guaranteed).

But, now they created into a token to make it easy. USDT with fiat backup still recommended until now.
sr. member
Activity: 2240
Merit: 270
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I think BUSD and USDT are equally safe with nothing to compare with USDC, the idea behind tying to volatile coin is very unsafe and had been proven, although it is new and a lesson to teach any investor for the future. Talking about how the value is preserved for so many years now, however, there could be a case of slight dip which usually do not go below -5%. It has been suggested that fiat tie with stable is the safest. We also need to be careful with new projects in stable coin straight away, this has been the highest/oldest form of fraud in cryptocurrency with printing of virtual currency without government's involvement.
member
Activity: 117
Merit: 10
I think that none of them is safest maybe even all stablecoins none of them are safe, all of them can end up like UST the value is no longer 1:1 but 1:0.5 or even smaller than that, if you ask what can make USDT be like UST it may now seem impossible just like what happened to UST before it is impossible to have a value this low, because stablecoins are centralized people who have power over them can do anything for their benefit
legendary
Activity: 2716
Merit: 1225
Once a man, twice a child!
BUSD may get fucked.
I had to single that comment out to let you know anything can "get fucked" in this crypto space. That done, now to the question. The two stablecoins you mentioned are the only ones I've been using. I started with Tether when the stablecoin option became a thing and then moved to BUSD. It's my favourite now because I do trade often on Dex using the Trust Wallet Dapp. For me, BUSD is ok. I tend to tie it to BNB. Seeing how BNB has come to stay, I believe BUSD too won't go rogue since both are from the same platform.
legendary
Activity: 1064
Merit: 1298
Lightning network is good with small amount of BTC
If there is option to use fiat like US dollars to trade, it will be the better option to go for, the coins are backed by US dollar or fiat. For algorithmic stable coin like UST, never go for that type of stable coins, they are often known to lose their peg.

On exchanges, there are few options to go for, I would have preferred Dai, but on most exchanges that I know, the two most common stable coins are USDT and USDC which are also the two stable coins with the highest marketcap. Traders do not have options than to go for the coins to trade, but fiat would be better. BUSD is a common stable coin used for trading pair on Binance.

Coins like USDT and USDC are fiat backed, unlike algorithmic stable coin, they have not lost their peg with the fiat they are backed with, unlike algorithmic stable coins, they are almost stable with US dollar price.

The stable coins can be freezes by the company that created them, but it is exchanges that we are talking about, traders do not consider that because using exchanges also means that you do not have complete control over your own coins.
hero member
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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?
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