Is there any limit or holding stable coins.....? Any risk of hodl the max coins?

tvplus006

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Quote from: hamaravijay on July 10, 2020, 11:07:26 AM

What about other stable coins like binance usd...........?
I mean normal coins are not stable so if we hold some stable coins so we can buy some other crytp coins in future what you say.....?

If you do not trust stablecoins, then it is better to trade on an exchange that has trading pairs to USD. No stable coin might not be safe, in the same way as any other cryptocurrency. But it is impossible to do without stablecoins when trading. If BUSD is taken into account, they have less liquidity than USDT.

Ryker1

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Quote from: ReiMomo on July 10, 2020, 10:57:25 AM

[snip]
If you're going to ask me, I won't hold a stable coin at all, they seem not to be trusted due to their past trust issue.

Well, for sharing the link. I have doubted this before that USDT something has fishy moves and that is why I do not trust stable coins.
I do not understand why people hold this stable coin, they are just like holding fiat because of this stable coin was always having a value of 1:1 in the dollar rate. So, there is no volatility thing that makes the price fluctuate. Indeed, is a wise decision if you will hold fiat than this since earning profit is rare to happen. But yet, your fund is safe from pump and dump.

coinfinger

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That has probably happened because something fishy must have been happening. I don’t think there’s a limit on holding stable coins or any other crypto coins for a matter of fact. It’s perfectly safe to hold a significant number or coins unless they are a result of something illegal or fraudulent activity. And I don’t think there’s anything in it for you if you just keep holding a lot of stable coins.

The name ‘stable coins’ because they are highly stable and nowhere near to being even a little volatile so no profit and no loss situation. If you wish to increase your portfolio, investing in various crypto assets and diversifying your capital is the key.

rodskee

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Quote from: abel1337 on July 21, 2020, 03:17:40 PM

Quote from: gentlemand on July 11, 2020, 02:47:01 PM

Quote from: LbtalkL on July 11, 2020, 02:41:03 PM

That is the risk of holding USDT, if they see you are holding a huge amount or they think you are suspicious they can freeze any account/wallet which is not good for holders. USDT is useful on trading but holding it in a wallet? I don't think that is a good idea, most of the stablecoins have that ability to freeze any account.

The only circumstances where I'd touch USDT would be leaving it on an exchange for a very short period of time before going back into a proper coin. It wouldn't occur to me to store it in my own wallet, and definitely not for a long stretch. I don't trust ETH a great deal more. I'd rather it was the exchange's problem, not mine, and not for very long.

This is also what I do when I'm trading some tokens. I really doesn't stick with USDT and I'm only using it for a short period of time when I am deciding what token should I trade on my next trade. I doesn't find any sense holding a USDT on a wallet Huh

If I want to preserve the value, I will just go convert it into fiat.

Most of experienced traders find this coin as a safe haven for a short period of time,
converting your assets to prevent the big fall
then convert back when you are already convince that your target assets will in
the good directions.

Better to make sure that you have all the details before you proceed, you have lots
of time to think about this plan OP.
Make sure that you'll be using those time to think more about this stable coin and
assess everything.

Kelvinid

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Quote from: hamaravijay on July 10, 2020, 07:11:56 AM

I mean they have banned nearly 990K coins of usdt.
I don't have any maximum Grin

But in future i want to hold more usdt i mean like stable coins is there any limit of holding the stable coins....?

Is there any risk of holding the maximum stable coins.

Nobody stopped you and you can hold as much as you can. Holding stable coins won't make you profitable but if you are asking for Bitcoin, it is certainly of a better position and market gaining potential. I was planning it though but can't imagine the volatility and it holds me of not doing. But if you are committed to makes such long-term holding, then it's up to you. But couldn't think the safety assurance and I am afraid you'll be targeted by scammers. If you are holding that huge amount, I suggest not to use only one wallet, better to spread and so it keep unnoticed by scammers. This is the risk of holding a huge amount online.

Lanatsa

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Quote from: abel1337 on July 21, 2020, 03:17:40 PM

Quote from: gentlemand on July 11, 2020, 02:47:01 PM

Quote from: LbtalkL on July 11, 2020, 02:41:03 PM

That is the risk of holding USDT, if they see you are holding a huge amount or they think you are suspicious they can freeze any account/wallet which is not good for holders. USDT is useful on trading but holding it in a wallet? I don't think that is a good idea, most of the stablecoins have that ability to freeze any account.

The only circumstances where I'd touch USDT would be leaving it on an exchange for a very short period of time before going back into a proper coin. It wouldn't occur to me to store it in my own wallet, and definitely not for a long stretch. I don't trust ETH a great deal more. I'd rather it was the exchange's problem, not mine, and not for very long.

This is also what I do when I'm trading some tokens. I really doesn't stick with USDT and I'm only using it for a short period of time when I am deciding what token should I trade on my next trade. I doesn't find any sense holding a USDT on a wallet Huh

If I want to preserve the value, I will just go convert it into fiat.

I would definitely do the same and majority does really have that kind of thing in mind towards stable coins which these coins are only being used to avoid volatility and also theres no point on
holding or stashing up this thing.

If you do aim for profit and doesnt mind about volatility then you would be surely accumulate crypto in your own reference but if not then you can simply had that fiat but if you are just simply waiting

for buying opportunity then having some funds converted to stable coins isnt a bad idea either because you can strike out as fast as you can when you do see an opportunity.Its not really that ideal though

when we do talk about holding.

abel1337

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Quote from: gentlemand on July 11, 2020, 02:47:01 PM

Quote from: LbtalkL on July 11, 2020, 02:41:03 PM

That is the risk of holding USDT, if they see you are holding a huge amount or they think you are suspicious they can freeze any account/wallet which is not good for holders. USDT is useful on trading but holding it in a wallet? I don't think that is a good idea, most of the stablecoins have that ability to freeze any account.

The only circumstances where I'd touch USDT would be leaving it on an exchange for a very short period of time before going back into a proper coin. It wouldn't occur to me to store it in my own wallet, and definitely not for a long stretch. I don't trust ETH a great deal more. I'd rather it was the exchange's problem, not mine, and not for very long.

This is also what I do when I'm trading some tokens. I really doesn't stick with USDT and I'm only using it for a short period of time when I am deciding what token should I trade on my next trade. I doesn't find any sense holding a USDT on a wallet Huh

If I want to preserve the value, I will just go convert it into fiat.

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Quote from: davinchi on July 21, 2020, 01:28:38 PM

Stable coins are stablecoins, there is really no going up or down for them, whatever they make they are just printed out of thin air without really no backing and people buy them so they end up being basically used that way. Obviously there is a HUGE problem with it about the companies behind them, one day they could say that they are not going to give any fiat in return and you would be left hanging with some stablecoins that worth basically zero, which is the only trouble you could face with them.

There has been a lot of companies who tried to mimic what USDT is doing and a lot of them failed since people didn't used it that much and they weren't listed in every exchange like USDT is listed. So all in all the best way to actually invest into stable coin is a little amount that you are not afraid to lose.

There is no limit to hold stable coins so you can hold as much as you want but more you are holding then you will get more attention from government sector for sure and all stable coins might share your wallet details to governments to notify if there is some shady tings going on or not.So better to move into decentralized cryptos if someone wants to keep huge amount as cryptos.

Golftech

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Quote from: davinchi on July 21, 2020, 01:28:38 PM

Stable coins are stablecoins, there is really no going up or down for them, whatever they make they are just printed out of thin air without really no backing and people buy them so they end up being basically used that way. Obviously there is a HUGE problem with it about the companies behind them, one day they could say that they are not going to give any fiat in return and you would be left hanging with some stablecoins that worth basically zero, which is the only trouble you could face with them.

This is really possible as stable coin are handled by the developers and once they've declared something there's no chance for
you to recover, you should deal with more study before taking your next move holding this asset.

Quote from: davinchi on July 21, 2020, 01:28:38 PM

There has been a lot of companies who tried to mimic what USDT is doing and a lot of them failed since people didn't used it that much and they weren't listed in every exchange like USDT is listed. So all in all the best way to actually invest into stable coin is a little amount that you are not afraid to lose.

You can use it a alternative but make sure to keep in mind that there are always a risk same with any other investment around, the
more you know what your are doing the lesser the chance that you'll lose your money.

davinchi

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Stable coins are stablecoins, there is really no going up or down for them, whatever they make they are just printed out of thin air without really no backing and people buy them so they end up being basically used that way. Obviously there is a HUGE problem with it about the companies behind them, one day they could say that they are not going to give any fiat in return and you would be left hanging with some stablecoins that worth basically zero, which is the only trouble you could face with them.

There has been a lot of companies who tried to mimic what USDT is doing and a lot of them failed since people didn't used it that much and they weren't listed in every exchange like USDT is listed. So all in all the best way to actually invest into stable coin is a little amount that you are not afraid to lose.

BitcoinTurk

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I think such a thing is not possible because the situation you are talking about is actually against the vision of cryptocurrencies. Yes, USDT and similar cryptocurrencies are generally centralized and controlled by certain individuals, but I do not think that these people will definitely block or blacklist their accounts for those who are holding a large amount of money. Most likely, the wallet you mentioned may have been added to the blacklist by violating any rules, or it may have been added to this list by detecting it being used for illegal money transfers. In short, the situation you mentioned is not valid for every wallet, but I think such penalties are given regardless of the balance of suspicious wallets.

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Quote from: hamaravijay on July 11, 2020, 12:10:10 PM

We have restrictions in our country so if we withdraw to our bank they will close the accounts and we should wait for some more years for clarity of crypto in our country.

Thanks!

Looks like your choices are pretty limited between:

1. PayPal: also known for locking accounts
2. DAI/SAI: as far as I know the only stablecoin at the moment without sort of "locking features" as with most centralized stablecoins
3. Bitcoin: probably the best choice, you just have to accept and embrace the price volatility

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Quote from: LbtalkL on July 11, 2020, 02:41:03 PM

That is the risk of holding USDT, if they see you are holding a huge amount or they think you are suspicious they can freeze any account/wallet which is not good for holders. USDT is useful on trading but holding it in a wallet? I don't think that is a good idea, most of the stablecoins have that ability to freeze any account.

The only circumstances where I'd touch USDT would be leaving it on an exchange for a very short period of time before going back into a proper coin. It wouldn't occur to me to store it in my own wallet, and definitely not for a long stretch. I don't trust ETH a great deal more. I'd rather it was the exchange's problem, not mine, and not for very long.

LbtalkL

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That is the risk of holding USDT, if they see you are holding a huge amount or they think you are suspicious they can freeze any account/wallet which is not good for holders. USDT is useful on trading but holding it in a wallet? I don't think that is a good idea, most of the stablecoins have that ability to freeze any account. I guess there is no limit, you can hodl as many as you want. I suggest converting it into a fiat instead of a stablecoin.

rexxarofmoknathal

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Quote from: hamaravijay on July 10, 2020, 07:11:56 AM

Is there any risk of holding the maximum stable coins.

I'd say as a word of caution that can be applied to anything you can think of, is that there's always some risk and nothing is risk free.

As for holding stable coins, hell yeah there's a risk. The platform could get hacked or the people might shut down and either way you lose your money. Always think that if you're not the one holding your own money then that money is at risk. It really is that simple!

thesmallgod

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I have not heard that there are maximum limit you can hold as regard to USDT but take is why do you want to hold stablecoin since it is not like other crypto that the value change with time. Holding stablecoin is like holding fiat currency and for me, it is even better to hold fiat than holding stablecoin for long time especially when stablecoin such as USDT has been a subject of lawsuit which makes it unsafe to hold for a long time.

hamaravijay

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Quote from: The Cryptovator on July 11, 2020, 08:17:42 AM

What is the difference between hold money on your bank and hold money in USD? I don't see any valid point to hold huge amount of USD or USDT. If you hold your USDT/USD on exchange then they would locked it for any reason like money laundering and so on. Another issue if they blacklisted your address then probably you will not be able to use your USDT and if company skip then your fund will be ZERO. I am wondering why are you so curious about hold USD/USDT. That's the disadvantage of centralized crypto-currency, crypto-currency shouldn't be centralized at all.

We have restrictions in our country so if we withdraw to our bank they will close the accounts and we should wait for some more years for clarity of crypto in our country.

Thanks!

The Cryptovator

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What is the difference between hold money on your bank and hold money in USD? I don't see any valid point to hold huge amount of USD or USDT. If you hold your USDT/USD on exchange then they would locked it for any reason like money laundering and so on. Another issue if they blacklisted your address then probably you will not be able to use your USDT and if company skip then your fund will be ZERO. I am wondering why are you so curious about hold USD/USDT. That's the disadvantage of centralized crypto-currency, crypto-currency shouldn't be centralized at all.

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Quote from: hamaravijay on July 11, 2020, 01:18:50 AM

Not let us say if i have 100K in stable coin like binance is good...?

Thanks!

Holding huge amounts of money in stable coins = bad

Holding huge amounts of money in stable coins and on exchanges like Binance = very bad.

You're putting yourself too much at risk. If I would personally hold USDs, I'd just hold it in actual non-stablecoin USDs.

joniboini

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I don't think the convenience in the case you mentioned is worth the risk of storing your wealth on something that's difficult to prove really backed by something valuable. I'd rather lose some opportunity and fees but guaranteed that my $10k or so is still accessible after 10 years or so.

Except if you want to jump on the defi hype train, which is still not secure enough anyway.

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