Topic: What are the trusted stablecoins to save money long-term? (Read 388 times)

why choose a stablecoins to save your money in long term mate ?
as i knew if we save stablecoins the value will be same from time to time

You kinda get the general idea about stable coins and how 'trusted' it is with lot of replies in here. Since you have your own circumstances regard to tax and bank so I guess if I have to make a choice, USDT then. If sh*t hit the fan of stable coin like USDT, you bet you're not alone in losing your assets and don't buy any crap with a slogan 'trusted stable coin'.

If he waits for the right time to buy coins, I think now is also the right time if he will hold it for the long term. Look at the history of Bitcoin prices always go up from year to year.

Indeed stable coins in cryptocurrency are centralized so when the team dies it will all just collapse, but I see this will not happen what you say even though these stable coins are not supported by banknotes or USD then it will remain more stable at the same thing its in dollars.

I think in an era like this going digital, stable coins will be more interested in cryptocurrency.

I don't think there is one stable coin that you can trust long term. All of them can collapse anytime as they are centralized. Once the owners or one of the owners decides to leave and sell off his share, it will incur huge change for that stable coin and might not recover. Also, we don't know the absolute truth about their claims of being backed by certain fiat money. What is the assurance that they are indeed saying the truth about their reserves, even USDT admitted at one time that they were not fully backed by US$?

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

XXXX reserves the right to “blacklist” certain USDC addresses and freeze associated USDC (temporarily or permanently) that it determines, in its sole discretion, are associated with illegal activity or activity that otherwise violates the terms of this User Agreement (“Blacklisted Addresses”).
 In the event that you send USDC to a Blacklisted Address, or receive USDC from a Blacklisted Address, XXXX may freeze such USDC and take steps to terminate your USDC Account.  In certain circumstances, XXXX may deem it necessary to report such suspected illegal activity to applicable law enforcement agencies and you may forfeit any rights associated with your USDC, including the ability to redeem USDC for U.S. Dollars.
XXXX may also be forced to freeze USDC and/or surrender associated U.S. Dollars held in Segregated Accounts in the event it receives a legal order from a valid government authority requiring it to do so.
....
You are aware of and accept the risk of operational challenges. XXXX may experience sophisticated cyber-attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to the USDC Services. You understand that the USDC Services may experience operational issues that lead to delays, including delays in redeeming USDC. You agree to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. You agree not to hold XXXX accountable for any related losses.

I am looking for the best trusted stablecoins to save money long-term between 6 months and 1 year for reasons of personal worries.

I currently use PAXOS Standard, USDC are trusted or not the market may collapse in the near future as NuBits, StableUSD, USDQ, CK USD dollars crashed ! . I currently do not trust USDT Tether because the market is exactly the same .

Trueusd is not trustworthy but what can you say?
Dai, Sai is another stablecoin but it is very fragile if the market drops sharply especially on maker, ethereum, When do you think?
Gemini Dollar a good stablecoin? very little exchange accepts it.
Binance USD similar to paxos is the same.
HUSD I don't know very recent .

it could also be useful for other people this discussion. When do you say what your opinions are on trusted stablecoins?

I do not wish to add money to the bank because the tax applies  .
Update 26/05/2020
read the page 2.

or he could be waiting for the right time to buy the coins. during the bear market since the early 2018, many of the traders are simply putting their coins into stable coin and waited for the momentum. and when it hit $3k they started buying BTC back. a friend collected 300BTC while he was just a bounty hunter who learned how these traders do it in times of uncertainty.

I am looking for the best trusted stablecoins to save money long-term between 6 months and 1 year for reasons of personal worries.

I currently use PAXOS Standard, USDC are trusted or not the market may collapse in the near future as NuBits, StableUSD, USDQ, CK USD dollars crashed ! . I currently do not trust USDT Tether because the market is exactly the same .

Trueusd is not trustworthy but what can you say?
Dai, Sai is another stablecoin but it is very fragile if the market drops sharply especially on maker, ethereum, When do you think?
Gemini Dollar a good stablecoin? very little exchange accepts it.
Binance USD similar to paxos is the same.
HUSD I don't know very recent .

it could also be useful for other people this discussion. When do you say what your opinions are on trusted stablecoins?

I do not wish to add money to the bank because the tax applies  .
Update 26/05/2020
read the page 2.

he wants to save money in crypto so that it is not taxed, and maybe he intends to save not for investment, I find no other purpose besides saving

To tell the truth, l could not understand your statement, l mean what is your purpose of holding stable coins for long term investing. There will not change price of coins, that is why it is stable. Maybe you can prefer any other altcoins instead of stable coins, it can be worthwhile to hold top altcoins, but never stable coins can give you any profit.

I am looking for the best trusted stablecoins to save money long-term between 6 months and 1 year for reasons of personal worries.

To tell the truth, l could not understand your statement, l mean what is your purpose of holding stable coins for long term investing. There will not change price of coins, that is why it is stable. Maybe you can prefer any other altcoins instead of stable coins, it can be worthwhile to hold top altcoins, but never stable coins can give you any profit.

I can't keep my fund in stable coin for too long. I don't have absolute trust on them like I have always trusted my ailng fiat. I only use stable coin during a bad market day or for trading pair that has only stable coin, otherwise, I am.always on bitcoin or any other good altcoins.