Help a newbie choose a better stable coin

savetheFORUM

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Quote from: TopT3ns on May 25, 2022, 02:59:55 PM

I don't think there are stable coins that are safe anymore, all of them have very terrible risks, seeing some cases that happened to UST makes everyone worried about putting their assets in stable coins because they can collapse instantly when there are some problems in it. for a while maybe USDT is still pretty good, but you have to remember to do it at your own risk.

Honestly, this comment actually leaves me sitting on a fence because to some extent, you are right about your suspicions and to some extent, you are wrong because they aren’t facts.

A lot may have happened in the past with a few coins but when it comes to stable coins, there’s almost always an exception. USDT had issues time ago doesn’t necessarily guarantee condemnation for other stable coins. Good and reliable stable coins are still in the market. But, there could not be any prime reason for any crypto investor to continuously dependent on a stable coin hence we never need to worry on choosing a stable coin.

AmoreJaz

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Quote from: ampere on June 04, 2022, 04:27:18 PM

Quote from: Cuda911 on March 30, 2022, 01:19:03 PM

I'm looking forward to store some stable coin for future investment, maybe probably when a harder bearish market takes place to buy coins for lesser price but I can't seem to figure with stable coin can make me have a good night sleep at night with zero worries, USDT? BUSD?

Sorry to disappoint you but stable coins are not a form of investment. instead stable coins are rather a store of value so storing stable coins would not increase their value. Secondly, at this time, i think it is very reliable to store stable coins in usdc or busd. And also, be sure to store your assets in a decentralized crypto currency wallet

to be honest, i am more confident with busd rather than usdt. as usdt admitted before about their non 100% backing of assets, what is the chance that they are still not 100% backed even if there are audits happening? but take note that if you are storing a stable coin, you are not aiming for profits here because the value is supposedly pegged always at $1. you are just avoiding high volatility of crypto in the market. the OP should think why he wants to store stablecoin rather than let's say BTC.

ampere

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Quote from: Cuda911 on March 30, 2022, 01:19:03 PM

I'm looking forward to store some stable coin for future investment, maybe probably when a harder bearish market takes place to buy coins for lesser price but I can't seem to figure with stable coin can make me have a good night sleep at night with zero worries, USDT? BUSD?

Sorry to disappoint you but stable coins are not a form of investment. instead stable coins are rather a store of value so storing stable coins would not increase their value. Secondly, at this time, i think it is very reliable to store stable coins in usdc or busd. And also, be sure to store your assets in a decentralized crypto currency wallet

LUCKMCFLY

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Quote from: TopT3ns on May 25, 2022, 02:59:55 PM

I don't think there are stable coins that are safe anymore, all of them have very terrible risks, seeing some cases that happened to UST makes everyone worried about putting their assets in stable coins because they can collapse instantly when there are some problems in it. for a while maybe USDT is still pretty good, but you have to remember to do it at your own risk.

I agree with your opinion, for me USDT is somewhat reliable, although I have heard a lot about BUSD, because mostly people like it for operating with that stablecoin and it does not carry any associated fee, but I have seen that USDT is much more commercial and although all stablecoins represent money and are very useful especially to move to any part of the world, this is intrinsically a business or business model that many people already have, remittances are more reliable to send them by usdt, the few people who know about They use USDT with more confidence than any other crypto to avoid the risk of a crypto losing value, I think that from that point of view you can get a plus.

taylankapan

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Piesel

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Just buy Ustd since you said you want to use it to buy when coins prices drop in the future since Used is pegged with the United States dollars. But I will advise you to make good use of the market volatility in the sense that you make more profits from your money rather than just holding a stable coin that will not give and increase. Hold Bitcoin that is the only sure way to. make good profits in the long run since your motive is an investment.

detroitlions

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Quote from: Cuda911 on March 30, 2022, 01:19:03 PM

I'm looking forward to store some stable coin for future investment, maybe probably when a harder bearish market takes place to buy coins for lesser price but I can't seem to figure with stable coin can make me have a good night sleep at night with zero worries, USDT? BUSD?

If you want to store assets safely for a long period of time then USDT and BUSD can be relied on, because the stable coin has been relied on for a long time and until now it is still safe for us to use, but if you want to use DAI I think you can also try because the stable coin is also very suitable for us to store for a long time, And you already have a guarantee to stay awake.

TopT3ns

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I don't think there are stable coins that are safe anymore, all of them have very terrible risks, seeing some cases that happened to UST makes everyone worried about putting their assets in stable coins because they can collapse instantly when there are some problems in it. for a while maybe USDT is still pretty good, but you have to remember to do it at your own risk.

Tellek Garing

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Quote from: alisonwonder on May 25, 2022, 04:59:45 AM

Quote from: Tellek Garing on May 25, 2022, 04:10:52 AM

Stable coins are not viable for investment just as the name implies stable means the price is pegged with the USTd or other currencies that have a fixed price.

Stable coins will not provide higher profits than other coins, but stable coins also generate profits when compared to storing real currency, we can do annual stakes to get higher profits than some of the interest from conventional banks.

I agree with you on this one stable coin can be used to carry out so many profits generating services, such as staking farming and the rest of other investments.

But if one is looking for just buying and holding for the long term without putting it into profits generating contract the profit that stable coins will give will be minimal compared to other coins.

firmino10

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when it comes to investment, proper research needs to be done. like investing in stable coins that survive the bearish market? the level of transparency and the volume of investment?. in the level of transparency, BUSD is greater than USDT. in a high volume of investment in cryptocurrency, USDT is preferable. just make your research.

Godday

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I think stable coins have no difference with FIAT currencies. I mean if you really want to avoid the risk of price volatility I suggest you can try investing in gold or other forms of investment instruments. If you invest in stable coins I don't think it's a good choice for your crypto assets. You are better off trying to invest in some coins and tokens that already have strong and reliable fundamentals.

Mosharafhh

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If you talk about most stable coin i will suggest you to hold your token in usdc there is no chance of peg your token and price down and on the other hand you can hold it on busd because its backed by binance so its also most stable in my opinion!!

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Quote from: m_nief on May 24, 2022, 03:19:29 PM

For stable coins investing I think better with BUSD than USDT and worry with USDT will be the next UST have drop and not function as stable coin. But invested on stable coins not return higher profit although ten year later holding, better if try invest on cryptocurrency not choose stable coin as investment. Have many altcoin can give much profit but keep careful time for investing, have been on dip price or still higher price still good thing need to know before investing on altcoin.

No one invests in stable coin, i think OP is looking for a safe stable coin to hold, prepare for his future investment is not an investment in stable coin, as it is clearly not profitable for anyone. In my view, using stable coins we can keep any coin we want. BUSD is great but it's not as popular as USDT so depending on the exchange OP is using, if it supports BUSD its better to use BUSD instead of USDT.

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Quote from: Rampagoe004 on May 25, 2022, 08:33:07 AM

To choose stable coins that are safe and easy for us to use in investing, of course USDT and BUSD can indeed be relied on, but for now many investors are using USDT and it is easy to find coins to invest in, although in the last year there was negative information about USDT but all of it was not proven so that until now it is still safe for us to use.

actually usdt is more flexible for various exchanges, especially if you look at its volume, usdt is a top-tier stable coin, even though there is some negative news about it, but that problem can be resolved so it doesn't have a negative impact, and until now it has been proven that usdt is still a favorite choice stable coin. but we also can't underestimate busd, because busd is on the auspices of the largest exchange that has no doubt about its strength

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Quote from: waybesuricata on May 24, 2022, 04:18:59 PM

"BUSD is U.S. dollar-backed stablecoin, and it is approved by the New York State Department of Financial Services. Users can purchase BUSD 1-to-1 with the U.S. dollar" My preference is BUSD.

other than that, BUSD is a product of binance, and binance is currently an internationally recognized company, so I think for a stable coin, BUSD is the best. although currently USDT is a stable coin that has a large volume and is the most widely used, but I think BUSD has a clear company, and has been recognized. So, it is the safest. some people would recommend using USDT or DAO. well, it's an option, I think right now all three are almost in the same position. but, personally, I would choose BUSD.

Rampagoe004

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To choose stable coins that are safe and easy for us to use in investing, of course USDT and BUSD can indeed be relied on, but for now many investors are using USDT and it is easy to find coins to invest in, although in the last year there was negative information about USDT but all of it was not proven so that until now it is still safe for us to use.

$anounimus$

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With so many stable coins out there, it's hard to make a sound decision. But in my opinion, USDT is one of the coins worth looking into. It offers both stability and security--a good recipe for those who want to invest in the future The amount held in reserve is greater than that held by other stable coins. The choice is up to you. You should choose the Stablecoin that best suits your needs for investing.

alisonwonder

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Quote from: Tellek Garing on May 25, 2022, 04:10:52 AM

Stable coins are not viable for investment just as the name implies stable means the price is pegged with the USTd or other currencies that have a fixed price.

Stable coins will not provide higher profits than other coins, but stable coins also generate profits when compared to storing real currency, we can do annual stakes to get higher profits than some of the interest from conventional banks.

Tellek Garing

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Stable coins are not viable for investment just as the name implies stable means the price is pegged with the USTd or other currencies that have a fixed price.

I will advise you to invest in a good coin that has long-term potential most importantly you can get a utility token that has an exciting ecosystem because that will help the token to sustain value in the long run.

waybesuricata

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In the Luna-UST incident, we learned that we need to be more careful with stable coins. That's why I started to be skeptical of all of them. Of course, USDT and BUSD seem more reliable to me. Let's see how the planned regulations will affect stable coins.

Topic: Help a newbie choose a better stable coin (Read 878 times)