Help a newbie choose a better stable coin - page 5.

Irazzzta

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Quote from: SistaFista on April 11, 2022, 09:17:49 AM

For me, the best stable coin is BUSD on binance smart chain network.
Why ? Because BUSD is created by biggest crypto exchange Binance, and the transaction gas fee is cheap on bsc.
Another stable coin such as USDT, but we should use low fee blockchain like TRON blockchain to avoid high fee.

So far I have used USDT from Tron, indeed the USDT transaction fees from Tron blockchain are quite cheap. another alternative could be from other chains with low transaction fees. I have avoided using USDT from the ETH Blockchain for a long time. it's because Gas costs are high, and it happened just when I wanted to send my stable coin to the exchange.

SistaFista

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Hexhash.xyz

For me, the best stable coin is BUSD on binance smart chain network.
Why ? Because BUSD is created by biggest crypto exchange Binance, and the transaction gas fee is cheap on bsc.
Another stable coin such as USDT, but we should use low fee blockchain like TRON blockchain to avoid high fee.

LUCKMCFLY

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Quote from: deean_3one on April 02, 2022, 09:20:27 PM

Quote from: Cuda911 on March 30, 2022, 12:19:03 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?

A good stage by choosing stable coins. They are always profitable and do not have to worry about losses. USDT is a safe option. However, To choose a coin I recommend you invest in Ethereum. Alcoin never disappoints.

I think that the stable currency that is most used in commerce, whether in trading or in P2P, is usdt, however with BUSD you can move very well in all exchanges and without paying a fee, but as I told you before, most of people trust usdt for everything, despite the problem that there was with bitfinex that was accused of manipulating the market with tether that were generated out of nowhere to buy BTC, this is just one of the things that can tarnish the usdt, but I recommend you that any of those two will serve you. And if you want an investment that will never let you down, it is Bitcoin.

GowithMi_GMAT

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Quote from: Cuda911 on March 30, 2022, 12:19:03 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?

So far I use the stable coin BUSD whenever converting to fiat or using it when trading on the Binance Exchange.

btw did you come to the crypto industry just to invest in stablecoins? My advice is to try investing in Bitcoin from now on, although with a small money and there's nothing wrong also with investing in other top altcoins "eth, bnb, avax, solana etc" who knows in the future you can get a decent profit.

deean_3one

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Quote from: Cuda911 on March 30, 2022, 12:19:03 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?

A good stage by choosing stable coins. They are always profitable and do not have to worry about losses. USDT is a safe option. However, To choose a coin I recommend you invest in Ethereum. Alcoin never disappoints.

Rigon

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Quote from: Cuda911 on March 30, 2022, 12:19:03 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?

Any newcomer can start investing with Bitcoin. Because Bitcoin will teach you a lot about investing. Bitcoin does not go the way of relying on any coin.He walks on his own trust.And Bitcoin is a trusted coin.And since Bitcoin is known to all and is very popular all over the world, I will first support Bitcoin for you to invest.

magneto

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Quote from: Cuda911 on March 30, 2022, 12:19:03 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?

You will always have worries with stablecoins, that's just something that you must accept.

USDT is definitely a no-go for me because of the fact that they use a fractional reserve model. I would NOT touch them in a million years.

BUSD is not much better. USDC is probably the only centralised stablecoin that I would trust, but I probably trust decentralised ones way more - like DAI, UST, etc.

BobK71

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Quote from: Cuda911 on March 30, 2022, 12:19:03 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?

In crypto currency stable coins are a less volatile alternative to typical cryptocurrencies and many investors don't like their price fluctuations. That is why they are willing to invest in stable coins. According to my personal perspective there are several crypto currencies are more popular in the crypto world like Tether (USDT) Dai (DAI) Binance USD (BUSD) TrueUSD (TUSD) USD Coin (USDC). Here i always suggest to choose DAI and BUSD which are most prominent stable coins in the crypto market.

henmark

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BUSD all the way. I hate centralization but stablecoins are usually better when centralized. DAI is great and all but doesn't give me what I really want. USDT is the biggest and it is everywhere but when you are dealing with Binance exchange and you save in BUSD form that is a much much better situation to be in. I do love the fact that crypto is at a place where it is not even remotely close to what it should be like.

There is a HUGE room to grow and Binance is at the top of the list, think about how much it could grow when crypto grows. This means that not only they are huge right now, but they will become gigantic, like a trillion dollar company worth gigantic and this is why I trust BUSD as well.

Jasad

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Quote from: Cuda911 on March 30, 2022, 12:19:03 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?

Why have to choose with stable coin for your investing? I think many other potential coins with higher return later and keep safety with good fundamental, what in your mind about investing with stable coin like USDT or BUSD. I think you look different from other investor, where all them want to get higher return of profit by investing on potential coin. Not good ideas as investing on stable coin but you have good decision if keep use stable coin for your money saving, just got little profit because stable coin like USDT or BUSD have potential drop when economic world issues like war.

Anguwa

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Quote from: Cuda911 on March 30, 2022, 12:19:03 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?

Actually, keeping stable coin in your wallet prior to any bear market is a good strategy in order to take advantage of the market to buy when the price is low and sell when the price is high.
I used to hold USDT in my Binance exchange wallet as a backup in case the market turned red. I'm not sure whether one should be kept, but I prefer USDT.

LogitechMouse

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Quote from: Asiska02 on March 30, 2022, 01:25:21 PM

It is a very good idea to start with a stable coin first. Starting with bitcoin can have a disadvantage when the market dumps. I advise you start with a stable coin for now, it’ll be more safer.

Why start with stable coins? What is the primary purpose why you are investing into crypto? Isn't it to gain profits?
Why start with stable coins when you can't gain profit from it technically unless you know how to trade it. You will only gain when the market is going up and vice versa. Safer? You will not gain profits if you will always be on the safe side. At least take some risk and invest into some volatile coins like Bitcoin or any other top coins.

Quote from: Cuda911 on March 30, 2022, 12:19:03 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'm not holding any stable coins for now but it seems like I will go with the stable coins where you can earn just by holding it and putting it into an exchange like Gemini or Crypto.com. I don't know the actual amount of interest they are giving annually but I think its more than 5%. Yes there are risks into it but you will not gain if you will always be playing safe.

Wildwest

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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.

Sled

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Quote from: rat03gopoh on March 31, 2022, 01:23:36 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.

DAI could be the best option but the majority of the traders never use this, they instead use BUSD/USDT. One factor is that these two stablecoins BUSD and USDT are listed on the major exchanges while DAI is not. For newbies and those who are just about to start, choosing these two coins BUSD and USDT, is really the best option. Well for me, I'd often BUSD as one of my trading pairs, it is sometimes I use to hold especially during the market crisis( bearish season).

wiss19

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Quote from: Dr.Osh on March 31, 2022, 12:02:57 AM

USDT or BUSD, I think both are currently the same. personally, I use both. however, I might recommend using BUSD more, as I would prefer to do your plan on a major exchange, and binance could be a recommendation for that. BUSD uses the binance network, and I think it's also a product of binance. so holding BUSD on binance in the long term might be safer. seeing the pretty good reputation of CZ in managing their company, I think you can rest easy on that. however, if you're still not comfortable with it, you might be able to use USDT and store it in your hardwallet. it's just that USDT has some bad rumors, but to date, USDT is the most widely used stable coin.

Not totally the same because in usdt you have the ability to choose from either tron network (tr20) or eth (erc20) but I don't think busd have that option. That is good that they made that possible for usdt because it can give way to the small users that don't want to pay high fees for using usdt under the erc20 network.

Obviously busd is a product of binance because of its name "binance usd". Its network name also says it all. What about busd, is this stable coin not supported yet by hardware wallets? but it should be busd that is widely being used by the masses because of its cheap fees and faster transaction time. It's also more user friendly because it can be used straight away.

GEMIN_M4

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To me the real reason why crypto exists is for decentralisation that's why I prefer DAI stable coin, you will have full freedom using this stable coin over others that are centralised, your funds won't be frozen or held without your permission, the choice is yours.

Anonymous100

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Quote from: Cuda911 on March 30, 2022, 12:19:03 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?

Tether and BUSD are both stable coins worth holding at 1:1 USD. Tether at CertiK and Fairyproof audits have certainly earned good trust in the public. While BUSD was developed by Binance. The public's trust in Binance also affects the stable coin BUSD. But the shortage of BUSD has not been listed on various exchanges.

batang_bitcoin

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Quote from: TimeTeller on March 30, 2022, 05:56:08 PM

Quote from: batang_bitcoin on March 30, 2022, 05:44:55 PM

Dai because it's decentralized.
If you want to maximize your use of Binance exchange then that's BUSD becaus AFAIK, there's no or lesser trading fees if you have it or trading it.
USDT still has the highest volume but many are worried that it is centralized, the same as BUSD so what they are capable to do with your assets, the other centralized stable coins are also capable of doing that too.

The OP needs to understand that USDT and BUSD are centralized.
So in any case, a decentralized stablecoin like DAI is better if you want to avoid like freezing of assets.
Besides, USDT had a history of not 100% backed by USD assets, though up until now, we don't know the truth about it.
But there's advantage of holding BUSD under binance platform, because he can earn interest if he will put it into savings.
The OP should weigh his priorities and what are his goals for holding a stablecoin.

Yes, and I hope that he has understood it already. What are the differences of each of these stable coins. I understand people kept on using UDST because it's very liquid and has a lot of exchanges supporting it and that's why they're going to stay on it.
But if you're someone who has been worried about them and unsure of the backing up of their reserve and asset, you go to decentralized stable coin and that's DAI.

Xal0lex

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Quote from: Cuda911 on March 30, 2022, 12:19:03 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?

Try not to look towards centralized stablcoins, especially USDT, it is a very centralized stablcoin which can block any address at the request of any country's authorities. I would recommend looking towards decentralized stablcoins, and also recently algorithmic stablcoins that are backed by bitcoin are popping up.

Fivestar4everMVP

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Quote from: Cuda911 on March 30, 2022, 12:19:03 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 I was you, I would go with DAI, USDT and BUSD are both centralized, Tether as a company which owns USDT even have the power and access USDT stored in a user's wallet, so sincerely, DAI is your best bet if you need a stable coin you can hold for a very long time without having to worry whether you still meet it stable, DAI is decentralized, it's the best stable coin to be trusted, though it is not as popular as BUSD and USDT, and it's not actively trading on every exchange like it's counterparts, but based on what you said you want, DAI is your best bet.

Topic: Help a newbie choose a better stable coin - page 5. (Read 910 times)