Help a newbie choose a better stable coin - page 3.

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Quote from: MFahad on May 17, 2022, 04:59:52 AM

Always choose those stable coin which is backed with fiat and stay away from those Stable coins which are backet with algorithm. We already seen ust and Dei crash.
In my view most trusted stable coins are Usdc,Dai and Busd. These stable coins are backed with fiat with strong Support by Etherium and Binance respectively. Government of England also looking to legalize Usdc and it's good for this Stable coin.

We have to be careful when choosing a stable coin that is a shitcoin, so don't fully believe in a stable coin because its value can not always be maintained for $ 1 but it has been proven that stable coins are also part of shitcoins that can collapse at any time.

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You can hold your investment in different Stables coin for safer side. Usdt and busd are safe coin but if you are interested then you can add some USDC and DAI. I am using all of them for my holding's.

MFahad

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Always choose those stable coin which is backed with fiat and stay away from those Stable coins which are backet with algorithm. We already seen ust and Dei crash.
In my view most trusted stable coins are Usdc,Dai and Busd. These stable coins are backed with fiat with strong Support by Etherium and Binance respectively. Government of England also looking to legalize Usdc and it's good for this Stable coin.

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busd

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Since you are not going to hold over $100k worth stable coin, better skip this research part and focus on investing opportunities. USDT and other centralized stable coins have some shady stories but you can use Busd alternatively.

You're right. If he isn't want to hold the stable coin for long term and just want to use it for short term investment in the bearish market then any stable coin out there is fine. Stick with USDT or BUSD since those two are the most popular and more user-friendly for a newbie like him.

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Quote from: viananda2525 on May 06, 2022, 08:32:20 PM

Quote from: Nazmul012 on May 06, 2022, 06:41:17 PM

You want to hold stable coin so that you can bought others crypto-currencies with cheap during bearish market, right? As you mentioned, Usdt and busd both are trustworthy and have good volume. But due to centralize coin, sec issue may effect on those. If you hold dai, decentralised coin, then that can help you a good sleep without worriers. If time comes then you can convert dai and buy others currency

You quotes some body but no response for what you quoted , you suppose to attach your suggestion for the thing base on your own explanation and your own kind of observation, stable coins is the person you quoted kind of suggestions but the thing is that you can hold your coin and decided when to sell, holding it is like putting it to be stable

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Quote from: Farma on May 08, 2022, 09:46:58 PM

Personally, I use both, but currently I use BUSD the most. however, if you only want to hold stablecoins in the long term, USDT and BUSD are good choices. however, if you want to see people's recommendations regarding coin stability, then the most likely choices are USDT, BUSD, USDC, and DAI. it is the most used stable coin, you just have to choose one of them.

List in the very good stable coins that you have recommended but USDT and BUSD are the best choices for stable coins, but since I mostly use Binance exchange and trade on Pancakeswap, so I hold more BUSD in my wallet, but holding USDT will also okay for stable coin category.

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Quote from: amihada on May 09, 2022, 09:27:22 AM

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?

For beginners who want to invest in coins, I recommend investing in ethereum coins because in my opinion ethereum coins have potential in the future, don't choose other than ethereum coins, hopefully this is useful for beginners who want to invest coins.

Despite that Ethereum is one of the top altcoins you cannot simply suggest them to invest in Ethereum,
they must know what they are deciding and the decisions made must come from themselves,
obviously for beginners they have to learn and find out for themselves

dlightag

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Why starting your investment with stable coin, and i hope you know what stable-coins mean, If you don't know, this are some example of stable-coins, USD, USDT, USDC, PAX and many more base on the exchange using to trade or store your coins, but the best way to go, is to invest on bitcoin and hold for a future and enjoyed the move of the market for a profit returns.

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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?

I think that both stablecoins that you have mentioned should be pretty safe i mean in the end you can never be 100% sure but if we really assuming that USDT or BUSD are going down to 0 then this will drag the whole cryptomarket down with them and it would take a lot of time to recover from that in my opinion. The only concern with USDT is that it is not clear anymore if every USDT that is minted is really backed by a real USD anymore because the team of USDT changed the wording a few years ago from "every USDT is back by real USD" to "we have enough reserves to back every USDT by a real USD" but no one really knows what that means.
USDC are also a good alternative.

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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?

For beginners who want to invest in coins, I recommend investing in ethereum coins because in my opinion ethereum coins have potential in the future, don't choose other than ethereum coins, hopefully this is useful for beginners who want to invest coins.

bonyaserg

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In my opinion, I will say that the most promising coin for investment is bitcoin, which always has great prospects for sustainable business development. This coin will be a great success for many, thanks to which you can get a good return on investment.

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Personally, I use both, but currently I use BUSD the most. however, if you only want to hold stablecoins in the long term, USDT and BUSD are good choices. however, if you want to see people's recommendations regarding coin stability, then the most likely choices are USDT, BUSD, USDC, and DAI. it is the most used stable coin, you just have to choose one of them.

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Quote from: martyns on May 08, 2022, 06:21:31 PM

There are lots of stable coin in the market which newbies can bagged and keep them in their portfolio. We have stable coins like USDT, BNB and KCS, although their still varieties of stable coins. Each exchange have their own personal stable coins. As for the Binance exchange, USDT is the most stable and popular coin in the market. USDT work with the dollar rate and they charges less for gas fees, the same thing applied to BNB. Kucoin have it's own stable coin which is KCS, it's price move from $17 to $20 precisely. So the best thing to do is to select the particular stable coin you wishes to bagged, and purchased it and store in your portfolio.

Stable coins are meant to be store for the purpose of securing your funds. You can not put your funds in Bitcoin, then when it begin to dip, you would watch your funds liquidating. So the best thing or alternative available is to convert those funds from Bitcoin and alt coins to stable coins. We several stable coins on exchange which are essential for transactions. USDT is the most acceptable stable coin because it moves with the dollar rate. USDT charges only $1 despite your bulky transactions. Their Network TRC20 is only what I love using anytime I want to convert my coins.

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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?

Well, I am not suggesting any, but I can share what I am using for my stable holding. Basically, I loved to use USDC, which is backed by Coinbase. And sometimes I use busDC and usdt. I use them very little. USDT is the biggest stable coin on the market. But I heard some of the sec problems of USDT with US Sec. Though I don't know the exact reason, I heard they printed unlimited US dollars and dominated the Bitcoin and Cryptocurrency markets. And also, if you want, you can look forward to the DAI coin. So here is the list: USDC, DAI, BUSD, whatever you choose.

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I hope OP has done more research after he created this thread because it all depends on the use that the person intends to give it, the stablecoin is not for investment, in my opinion they are for day trading only, but they are not long term investment, so if the OP's intention is to have USDT for example to wait until the bear market stabilizes and buy bitcoin or altcoin then it makes sense to have USDT or another stablecoin. but if OP is someone who has been holding for years then buying bitcoin or altcoins now would be a better option

martyns

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There are lots of stable coin in the market which newbies can bagged and keep them in their portfolio. We have stable coins like USDT, BNB and KCS, although their still varieties of stable coins. Each exchange have their own personal stable coins. As for the Binance exchange, USDT is the most stable and popular coin in the market. USDT work with the dollar rate and they charges less for gas fees, the same thing applied to BNB. Kucoin have it's own stable coin which is KCS, it's price move from $17 to $20 precisely. So the best thing to do is to select the particular stable coin you wishes to bagged, and purchased it and store in your portfolio.

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Quote from: rat03gopoh on March 31, 2022, 02:23:36 PM

DAI is hailed as the best stable coin for those who like full decentralization. But I also have no objection to both (op options) because they are issued by a reputable exchange and have passed some due diligence by international courts.

Caution and paranoia should always be applied regardless of the type of stable coin you choose, but the type of wallet you use to store it.

I can agree with you about DAI even i noticed that it's not that popular for the simple reason that it's an independent project and not created by exchanger (like other major stable coins) or created by centralized powers like the BUSD which is partially considered as a safe bet according to the agreement from SEC about this currency.
from another view point, i would prefer use real Dollar$ as great stable choice rather than using something doubtful even with most caution.

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Quote from: Nazmul012 on May 06, 2022, 06:41:17 PM

You want to hold stable coin so that you can bought others crypto-currencies with cheap during bearish market, right? As you mentioned, Usdt and busd both are trustworthy and have good volume. But due to centralize coin, sec issue may effect on those. If you hold dai, decentralised coin, then that can help you a good sleep without worriers. If time comes then you can convert dai and buy others currency

Holding stable coin is far better than holding of any altcoins that you don't know the values, stable coin remain the values because it does not go up and down, why people like the conversion is when cryptocurrency is down and will easily buy as many they like because of the values, if you are receiving payment with Bitcoin and the price of bitcoins is not stable the best place to store the coin is through conversion to stable coin

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Quote from: adiebitsler on May 06, 2022, 11:17:07 PM

Quote from: Nazmul012 on May 06, 2022, 06:41:17 PM

You want to hold stable coin so that you can bought others crypto-currencies with cheap during bearish market, right? As you mentioned, Usdt and busd both are trustworthy and have good volume. But due to centralize coin, sec issue may effect on those. If you hold dai, decentralised coin, then that can help you a good sleep without worriers. If time comes then you can convert dai and buy others currency

What's the difference holding DAI with USDT and BUSD if they are both stablecoins that can indeed be very suitable for storing and also for the purpose of buying other cryptocurrencies that are better in this period of decline ?

DAI is a decentralized one, so when you are holding it then you are not going to be worried about the company going bankrupt or stealing your money because it doesn't have any company behind it, the only worry would be someone hacking into it and stealing the money or something. USDT is a company based in panama, Bahamas or somewhere like that, a bit of shady company that only exists for USDT and we are still not sure if they are backing it 1to1 ratio even today, they didn't for a while, then they said they were audited and now they are, but I am not sure.

BUSD is binance, a huge exchange that makes billions constantly in profit so that is centralized but trusted. Those are the differences.

Topic: Help a newbie choose a better stable coin - page 3. (Read 878 times)