That's a brilliant idea but one shouldn't put all his/her eggs in one basket also OP may have a tangible reason to want to convert all the money into stable coin and my pick is DAI stable coin, it's decentralized and that makes it more reliable
If only to rely on stablecoins, then the choices are endless now, firstly the OP can look at USDT, USDC and BUSD which all of them already have quite a number of pairs with several potentially well-known Altcoins in the crypto space, so it doesn't have to be just DAI 
Topic: How to store 1 Million $ to Stable coin (Read 341 times)
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In answering the OP question, I think in this situation it will be best to diversify this amount and invest in a few coins.
The OP is asking for a solution to hold his valuation in a stable currency because it is evident that he is planning to book his profit and once he does that he may or may not invest in the projects unless the market settles down and till that time and the OP is asking which coin we be safer to hold his valuation. In answering the OP question, I think in this situation it will be best to diversify this amount and invest in a few coins.
If you are planning to hold for the short term then there is nothing wrong in storing them in USDT and follow the market and i usually store my USDT in the Tron network because the ETH chain has insane transaction fees.
There is no point in storing stable coins, they are not volatile as we expected on other coins.
Besides stable coins are backed by an asset or other says, good to have assets like this. But if you are going to ask me, I prefer to use bitcoin or ethereum if you wanted to hold this while on the volatility stuff, until such come volatile is opportunity to get profit even it is too risky.
Besides stable coins are backed by an asset or other says, good to have assets like this. But if you are going to ask me, I prefer to use bitcoin or ethereum if you wanted to hold this while on the volatility stuff, until such come volatile is opportunity to get profit even it is too risky.
When we have a bull run, it is of course better to keep money in Bitcoin or Ethereum, but if someone assumes that the bear market is approaching, he plans to escape from the price drop to stable coin.
In answering the OP question, I think in this situation it will be best to diversify this amount and invest in a few coins.
There is no point in storing stable coins, they are not volatile as we expected on other coins.
Besides stable coins are backed by an asset or other says, good to have assets like this. But if you are going to ask me, I prefer to use bitcoin or ethereum if you wanted to hold this while on the volatility stuff, until such come volatile is opportunity to get profit even it is too risky.
Besides stable coins are backed by an asset or other says, good to have assets like this. But if you are going to ask me, I prefer to use bitcoin or ethereum if you wanted to hold this while on the volatility stuff, until such come volatile is opportunity to get profit even it is too risky.
Have a plan to sell some of my crypto, Now I can store with USDT, USDC, DAI, BUT There are serious question:
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
Unfortunately, there are risks associated with investing in any cryptocurrency, even Bitcoin.
USDT has passed all the checks so far, so I don't think it could get sued by the SEC.
Of course, anything can happen in the future.
Maybe if you have concerns, buy a few different stable coins to spread the risk.
I would be wary of the risks associated with USDT and also keep an eye on SEC investigations into other stablecoins. There are some protocols which seem more reliable than others. Always try to hold in a stablecoin that is backed 1:1 with that particular fiat. If a coin is backed by other collateral and there is a debt mechanism attached, it could be the case that the stablecoin provider will not be able to account for the value of each token in the future if the debt instrument is defaulted on.
You can save that on a hard wallet and I don’t see holding USDT is that risky, they are created for that purpose so don’t panic but its ok and its normal since $1 Million is not a small thing. Go for whatever stablecoin you think is safe for you, just make sure you have the access on your wallet and never hold that much on an exchange even on the best exchange because its too risky.
Have a plan to sell some of my crypto, Now I can store with USDT, USDC, DAI, BUT There are serious question:
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
Have you looked at Haven XHV? Not advice, but interesting stuff with private, algorithmic stable coins.
Have a plan to sell some of my crypto, Now I can store with USDT, USDC, DAI, BUT There are serious question:
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
You didn't mention another stable coin, namely BUSD. I think Binance is responsible for the BUSD they are developing. Because if BUSD is in trouble, of course Binance will also be in trouble. So in this case, Binance will maintain their reputation with the coins they develop, including BNB. But apart from BUSD, Pax Dollar is also a stable coin traded on several popular exchanges. However, Pax Dollar is also audited by the same source with different scores. Pax Dollar with a score of 94, and Tether with a score of 90.
Have a plan to sell some of my crypto, Now I can store with USDT, USDC, DAI, BUT There are serious question:
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
Store $1 million in stable coins ? why ? Wouldn't it be better if you held it yourself in the bank? You can get interest from deposits in the bank. well i never hold stable coin for long time . stable coin for me just for temporary asset transfer. and for stable coins I usually use BUSD.
If you think that DAI is unsafe, then withdraw your savings in fiat. This is the safest way to keep money if your friends and neighbors do not know that you have $ 1 million in cash in your house.
I would not keep that amount in one wallet.
If you have Ethereum, then I would send Ethereum in the amount of 10-20 thousand dollars to different wallets using a mixer or tornado cash
https://tornado.cash/
, and then cancel it for stablecoins.
I would not keep that amount in one wallet.
If you have Ethereum, then I would send Ethereum in the amount of 10-20 thousand dollars to different wallets using a mixer or tornado cash
https://tornado.cash/
, and then cancel it for stablecoins.
Yes, converting it into fiat currency and withdrawing it to a personal account is the most effective thing to eliminate our worries. then if one day we need it again for trading capital, then we can deposit it into a trading account where we trade easily and safely
If you think that DAI is unsafe, then withdraw your savings in fiat. This is the safest way to keep money if your friends and neighbors do not know that you have $ 1 million in cash in your house.
I would not keep that amount in one wallet.
If you have Ethereum, then I would send Ethereum in the amount of 10-20 thousand dollars to different wallets using a mixer or tornado cash
https://tornado.cash/
, and then cancel it for stablecoins.
I would not keep that amount in one wallet.
If you have Ethereum, then I would send Ethereum in the amount of 10-20 thousand dollars to different wallets using a mixer or tornado cash
https://tornado.cash/
, and then cancel it for stablecoins.
If I had that kind of money in crypto I would stake it. Like cardano stacking is good option. 5% yearly is good money when you have 1mil.
That's a brilliant idea but one shouldn't put all his/her eggs in one basket also OP may have a tangible reason to want to convert all the money into stable coin and my pick is DAI stable coin, it's decentralized and that makes it more reliable 
If I had that kind of money in crypto I would stake it. Like cardano stacking is good option. 5% yearly is good money when you have 1mil.
Cardano was one of the best options to hold in the long term actually. But I don't have any idea about where to stake it.
Do you have any suggestion mate were I can able to stakes it as well just like yours? Or can you send me the link for this things
anyway, so that I can able to review it before I put my few funds for it.
I usually store my USDT in a non-custodial wallet in which I receive it from my bi-weekly salary. However, I am considering to convert all of my USDT into DAI as well if something bad happens to USDT. I also consider BUSD as well.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
So what is your suggestion?
No DAI is very safe and more decentralized than all you listed above. Take some time to read about DAI stablecoin and you will stop using any other one. BUSD is very centralized as it is s basically been controlled by Binance exchange. USDT has so many flaws and not forgetting the fact that your asset can be frozen at any moment.
Do not be scared of the liquidity of DAI as it is listed on well know exchange meaning you can easily exchange it if the need araises. DAI give you security over your funds but i would not recommend having that much money in stablecoin just keep them in banks as the stablecoin are still plaged to fiats.
I am not an expert in choosing coins but I prefer DAI as an Alternative if USDT/C is deactivated by SEC, there may be chaos in crypto if usdt/c is banned by SEC
1 million usd is not a small amount, try to divide it in % to invest in crypto, oh yes BUSD is also quite stable for one stable coin
1 million usd is not a small amount, try to divide it in % to invest in crypto, oh yes BUSD is also quite stable for one stable coin
I understand being paranoid having such money and you really want to protect your money from any possibilities but you're in crypto market where everything is possible so even if you choose DAI there's still a chance that its value will fluctuate. Don't be so pessimist, just trust the process and always be ready for the risk. I will still choose USDT to save for, because a lot of coins/tokens are being paired for this. If you really want to be same without any risk, go save it in fiat money.
Have a plan to sell some of my crypto, Now I can store with USDT, USDC, DAI, BUT There are serious question:
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
As for me, the best choice for you is to diversify this sum of money between several types of stablecoins. From these three stablecoins I would give preference mostly to DAI as it is the only decentralised from them and it can’t ban your address.
To be honest, I don’t think that it is really reasonable to store your milion in stablecoins. With the same result you can keep them just in USD, so I would rather you considered investing in Bitcoin at least.
If I had that kind of money in crypto I would stake it. Like cardano stacking is good option. 5% yearly is good money when you have 1mil.
Not that good idea to stake a million dollar in crypto staking. They can simply put that kinda money in bank, get 5-6% on Fixed Deposit and on top of that they can avail tax benefits for doing so depending on the country in which they live. Idk, staking a million and that too in single coin for a year is huge risk man. Crypto does benefit you but let’s understand that there are huge huge risks involved when money at stake is bigger. I mean the exchanger where they are staking, the coin which they are staking May or may not be there after year. What if exchanger gets hacked? What if the project they are staking in is no longer doing good? There are some risks involved and that should be assessed before staking.
Have a plan to sell some of my crypto, Now I can store with USDT, USDC, DAI, BUT There are serious question:
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
Stable coins are not really my thing, but DAI is a really good cryptocurrency to invest in so if I’m going to be recommending any cryptocurrency to you I am going to say that you should go for that DAI, and not USDT. And another reason why I’m not going to recommend USDT to you is because there has been so many complaints about it having some kind of issues, so DAI is a better choice to go with.Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
Or you can go for fully decentralized cryptocurrencies like Ethereum, although you are not going to like it, because it is not stable, but you can know for sure that the value can increase over the years.
DAI using ETH or Polygon is your best option, you can find it in many exchanges which have a good liquidity to exchange 1M within month + low fees.
USDC is better than USDT but USDT have better volumes in many exchanges.
other stablecoins are good and you can withdrawal USDT in other exchanges as TORN, Polygon, EOS,...etc.
about blacklist is your activity not involve scamming, laundry, drug trafficking or illegal transparent activities of the continents you will be safe.
I suggest to OP read this post carefully. If you are not doing any scam or other offense you are safe. Why they will blackish your coins?USDC is better than USDT but USDT have better volumes in many exchanges.
other stablecoins are good and you can withdrawal USDT in other exchanges as TORN, Polygon, EOS,...etc.
about blacklist is your activity not involve scamming, laundry, drug trafficking or illegal transparent activities of the continents you will be safe.
However, Dont put all of your money in one basket. 1 million USD is a good amount, Try to do more and more research.
-snip-
Read the explanation from @OP then you know the reason why he was worried with stable coin like USDC or USDT.Your fund can be frozen by them, so you cannot spend your fund after being frozen. Another rumor "USDT" is not actually 100% fully backup by asset maybe only around 60-70% for the backup. So is kinda worried to hold them, If SEC find suspicious activity on USDT.
I'm not an expert to stable coins but I think so far they are safe since they were backed up by an asset but for me if I have a $1M I think I should buy a cryptocurrency that is backed up by real gold since the gold always have a value and it's the most know asset in the world. I don't see the difference of DAI, BUSD, USDT or other stable coins they seems safe to me.
DAI could only be an alternative if it's a decentralized DAI, and for me, the best idea to store 1 million usd is by storing it as USDT since it is stable and it's safer as it's grow bigger now. Also it is recommended to store it by BUSD since it also further develop nowadays. But it's only a suggestion and my own opinion, maybe there are some better ideas.
1 million is a big amount. So, don't put your all eggs in one basket. If it loose your whole money will lose. You can use busd as a good investment in a stable coin. And if usdt get banned. It will harm the whole crypto industry, on the other hand, much negative news comes against Tether. So, try alternative coins like DAI, PAX, or us.
I would also do the same but among the stable coins except for DAI and PAX. I'll divide it including BUSD, I won't choose USDT and USDC. I have that feeling of confidence more with BUSD but that could just be me and the others who are feeling good with it.Remember to try to store in different safe accounts.
Yeah, it could be $333,000 for DAI, BUSD, and PAX. That would be my pick if there's no other option to keep that money as OP is problematic about. Well, I want to congratulate OP for having a good problem and being a millionaire in $. 
If I had that kind of money in crypto I would stake it. Like cardano stacking is good option. 5% yearly is good money when you have 1mil.
Yeah that’s not a good idea, you are effectively handing over control of your crypto for a supposedly promised 5% per year? What happens if the entity controlling your crypto gets hacked or goes bust? I prefer to control my own private keys thanks.
To stay on topic, it’s fine to convert to stablecoin short term but due to regulations especially in the US, I wouldn’t recommend it. USDT is being chased down by the FED.
USDT and USDC won't be banned just yet and you don't want to keep your money on that kind of cryptocurrency.
Your best option would be in Bitcoin if you just want to keep it, but if you are really looking for a stable coin, you really have a big problem.
It's not really the ban or the value that you should be worried about. It's the question of how did you get such an amount.
There could be a possibility for them to pause your account until you submit some documentation because these companies will still comply with the anti-money laundering law.
Your best option would be in Bitcoin if you just want to keep it, but if you are really looking for a stable coin, you really have a big problem.
It's not really the ban or the value that you should be worried about. It's the question of how did you get such an amount.
There could be a possibility for them to pause your account until you submit some documentation because these companies will still comply with the anti-money laundering law.
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Man, hear me. if you have no trust to the DAI stable coin and is that make sense to store your assets into the stable coins? As far as i know if all of stable coins are the same. They were using the same mechanism but the only thing that makes it different should be on how much reserved fund that used to backed it and the code. The stable coin other than DAI has backdoor that created by its developers to prevent the criminal act like hacking. So many people are feeling worried about this feature in the past but if you are not doing something like hacked or something else and why should you feel worry to store your asset into the stable cois?
there are lots of people with multi million dollars are still using tether, or even USDC that was getting subpoenas by SEC. If you can't trust it and why are you interesting to use it? If you feeling worry about this and just spread your stable coin into the so many parts. I have been using USDT since a few years ago and im still safe right now.
there are lots of people with multi million dollars are still using tether, or even USDC that was getting subpoenas by SEC. If you can't trust it and why are you interesting to use it? If you feeling worry about this and just spread your stable coin into the so many parts. I have been using USDT since a few years ago and im still safe right now.
Choose DAI dude. I even picked or stored most of my stable coins on DAI and BUSD, yes its binance stablecoin, but this is way more better than USDT and USDC since the owner understand the complexity of the crypto thats why they surely understand us.
Stablecoins are also good and conservative investment than most alts cause we can maximize a profit than bank money without having a huge risk.
Stablecoins are also good and conservative investment than most alts cause we can maximize a profit than bank money without having a huge risk.
DAI using ETH or Polygon is your best option, you can find it in many exchanges which have a good liquidity to exchange 1M within month + low fees.
USDC is better than USDT but USDT have better volumes in many exchanges.
other stablecoins are good and you can withdrawal USDT in other exchanges as TORN, Polygon, EOS,...etc.
about blacklist is your activity not involve scamming, laundry, drug trafficking or illegal transparent activities of the continents you will be safe.
USDC is better than USDT but USDT have better volumes in many exchanges.
other stablecoins are good and you can withdrawal USDT in other exchanges as TORN, Polygon, EOS,...etc.
about blacklist is your activity not involve scamming, laundry, drug trafficking or illegal transparent activities of the continents you will be safe.
1 million is a big amount. So, don't put your all eggs in one basket. If it loose your whole money will lose. You can use busd as a good investment in a stable coin. And if usdt get banned. It will harm the whole crypto industry, on the other hand, much negative news comes against Tether. So, try alternative coins like DAI, PAX, or us. Remember to try to store in different safe accounts.
Have a plan to sell some of my crypto, Now I can store with USDT, USDC, DAI, BUT There are serious question:
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
stable coins follow the dollar price in fact, they are created not to deviate from that price if it shifts not very far with a benchmark such as the dollar price, if the value of the shift in your number feels at a loss, you should withdraw it or play fast "trading". Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
If you're feeling the stable coin issuer can block your coin anytime and as some people said above if DAI would become the best choice. As long as the stable coin was fully audited and that's fine. YOu can also try to think about BUSD as this stable coin backed by the real company with real revenue. It's totally backed by the dollar. I think that as long as the stable coin was still backed by the dollar and it will not lose its value one day.
The risk will always there but if you didn't wanna use the stable coin and then just cashing it out. There's no reason to keep it in altcoins as it will be very volatile at this moment. USDT already accused so many times and nothing happen. that's the risk and if you didn't wanna deal with it and just store it into the bitcoin or ethereum but you may face up and down trend anytime. This will be affecting value of your money.
The risk will always there but if you didn't wanna use the stable coin and then just cashing it out. There's no reason to keep it in altcoins as it will be very volatile at this moment. USDT already accused so many times and nothing happen. that's the risk and if you didn't wanna deal with it and just store it into the bitcoin or ethereum but you may face up and down trend anytime. This will be affecting value of your money.
DAI is decentralized so among them all, it's the best option if you want to keep that $1M. But if you don't trust most of the stable coins then you just better be cashing it out.
You hold the cash and you're not going to have any problems if it's going to lose value because it's very normal that its value goes down through inflation.
You hold the cash and you're not going to have any problems if it's going to lose value because it's very normal that its value goes down through inflation.
...DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
DAI is your best option if you're are too worried about the centralization of other stable coins. I don't think there are better options to be honest. Maybe you should read more about CDP and MakerDAO so you have a better understanding on DAI's sustainability.So what is your suggestion?
As for options other than USDT/C, DAI is also an alternative but again comes with its own volatility. There are also other options which you'll need to look into but the others worth looking at are BUSD, and UST.
the risk, even if minimal, there is always usdt and the most widespread certainly if the sec were to give a negative opinion on a stablecoin this would almost immediately lose value, the best choice at least in my opinion is to limit the risks, diversify buying a third of the capital of each usdt, dai, usdc
Have a plan to sell some of my crypto, Now I can store with USDT, USDC, DAI, BUT There are serious question:
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
Honestly $1 million is huge amount of money So any wrong decision can give a big bull loss on the other side the right decision can give a rocket profit which will take your position one step further so you should invest the whole money to BTC .Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
If I had that kind of money in crypto I would stake it. Like cardano stacking is good option. 5% yearly is good money when you have 1mil.
...DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
DAI is your best option if you're are too worried about the centralization of other stable coins. I don't think there are better options to be honest. Maybe you should read more about CDP and MakerDAO so you have a better understanding on DAI's sustainability.So what is your suggestion?
Almost each new chain have their own version of stable coin so another option is to explore them.
Yes, indeed, the best way to keep your deposit in a stable coin is to use the decentralized DAI stablecoin. Unlike centralized stablecoins, a decentralized stablecoin is regulated only by a smart contract and does not depend on its issuer, as happens with centralized stablecoins.
...DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
DAI is your best option if you're are too worried about the centralization of other stable coins. I don't think there are better options to be honest. Maybe you should read more about CDP and MakerDAO so you have a better understanding on DAI's sustainability.So what is your suggestion?
Almost each new chain have their own version of stable coin so another option is to explore them.
Have a plan to sell some of my crypto, Now I can store with USDT, USDC, DAI, BUT There are serious question:
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
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