Topic: What are the trusted stablecoins to save money long-term? - page 3. (Read 388 times)
I guess DAI is a trusted stablecoin, but it is not the most used stablecoin I guess it is still the USDT. But rumors about USDT is will not keep you rest assured. Most stablecoins has the ability to freeze any asset on the network including USDT, if you are holding it, I suggest to switch on other stablecoins. Well-known platforms like Binance have their own stablecoin BUSD I guess it is trusted too.
i use usdc, but i also know DNA is a good 0.1$ stable coin
USDT but probably I would not follow you about holding it for long term.
Holding for long term for me is my way of investing, USDT is not an investment so I can't trust to hold it for long term.
You know the risk in the market, so why would you hold an stable coin?
As for me, I am aware that USDT has a bad reputation for some, but I believe it's the most traders are trusting right now since it's the most popular.
USDT has over $33 billion trading volume, if it's true that USDT is not backed 100% in fiat reserve, then we will have a problem.
I posted the link: just to let you know I'm aware and that's the reason I would not hold for long term.
https://www.coindesk.com/tether-says-its-usdt-stablecoin-may-not-be-backed-by-fiat-alone
Holding for long term for me is my way of investing, USDT is not an investment so I can't trust to hold it for long term.
You know the risk in the market, so why would you hold an stable coin?
As for me, I am aware that USDT has a bad reputation for some, but I believe it's the most traders are trusting right now since it's the most popular.
USDT has over $33 billion trading volume, if it's true that USDT is not backed 100% in fiat reserve, then we will have a problem.
I posted the link: just to let you know I'm aware and that's the reason I would not hold for long term.
https://www.coindesk.com/tether-says-its-usdt-stablecoin-may-not-be-backed-by-fiat-alone
Paxos standard is good but USDT is the most popular, I don't know why some people don't like or trust USDT, maybe it's because of centralized feature of the stable coin, another one i use is DAI and USDQ
If saving stablecoin is only to save the long term then I think it is not good in my opinion because of the same thing and there will be no profit, I save stablecoin when the market is volatile then I prefer stablecoin to secure my assets compared to having to hold on crypto coins.
I prefer not to keep stablecoin for a long time because the price will remain that much if it's done too.
I prefer not to keep stablecoin for a long time because the price will remain that much if it's done too.
If that is your reason is to save form devaluing Bitcoin in the future, still not a good idea.
Because in the first place, holding your money in any online wallet is not safe.
And 2nd thing is that, Bitcoin and cryptos will keep growing, in fact, you can see that it moves higher every year. Think that if you are holding stable coins for many years, surely nothing will happen unlike if you are holding Bitcoin the possible that you earn more ( double, thrice, or even more) while holding.
Because in the first place, holding your money in any online wallet is not safe.
And 2nd thing is that, Bitcoin and cryptos will keep growing, in fact, you can see that it moves higher every year. Think that if you are holding stable coins for many years, surely nothing will happen unlike if you are holding Bitcoin the possible that you earn more ( double, thrice, or even more) while holding.
I think that is risky to hold a stable coin for long term though it's not volatile compared to bitcoin.
I just don't understand, sorry OP, if you like to convert your bitcoin or altcoins into USDT and hold it for long term, better save it in your bank first.
The thing is, there is no insurance here in crypto, while in bank, you can always be confident since your money is insured.
How about open an online bank account then just deposit your money in an exchange that accept fiat, then you can start trading again.
I just don't understand, sorry OP, if you like to convert your bitcoin or altcoins into USDT and hold it for long term, better save it in your bank first.
The thing is, there is no insurance here in crypto, while in bank, you can always be confident since your money is insured.
How about open an online bank account then just deposit your money in an exchange that accept fiat, then you can start trading again.
I am not getting your point. What exactly do you want stablecoins to do when the USD crashes? Go up? You were told that stablecoins are 1:1 with USD and some of them are backed by the USD, so you shouldn't expect anything more or less. When the USD crashes, stablecoins that are attached to it will also crash and not increase; they will always try to follow that same line with the USD.
If you don't want that, then stablecoins are not for you, you should invest in volatile coins like Bitcoin, Ethereum, Bitcoin Cash, ChainLink and the rest of them. If you still want to go with stablecoins, the PAX you're using is already a really good coin. Stablecoins are for the purposes of saving your money within exchange as a replacement for fiats which means you must not try to make use of stablecoins outside of exchanges.
If you don't want that, then stablecoins are not for you, you should invest in volatile coins like Bitcoin, Ethereum, Bitcoin Cash, ChainLink and the rest of them. If you still want to go with stablecoins, the PAX you're using is already a really good coin. Stablecoins are for the purposes of saving your money within exchange as a replacement for fiats which means you must not try to make use of stablecoins outside of exchanges.
For the long term, there is nothing better than bitcoin, bought and forgot, and no need to strain to think what the team will come up with (as is usually done in projects).
I usually use USDT to keep the value of my money, and if I can see bitcoin or altcoin price is down, I will buy that bitcoin or altcoin so I can make a profit in USDT. But I don't use USDT for a long time because the bitcoin and altcoin price will always be volatile so that can help me to increase the USDT that I can have. If somehow, I can get a low price to buy bitcoin or altcoin, and in a few hours later, the price can increase so high, I will sell bitcoin or altcoin to make a profit.
PAX could be a good options mate,
but its better to keep your funds in crypto such as bitcoin or ethereum
I just vote for BUSD as it has backed by the trusted company but in this case, the main problem should be to search the reliable stable coin. USDC is also the best choice for him too.
By the way this is like a stable coin trend, similar to USDT but called name Paxos Standard and they have another functions. PAX can also be an alternative cross-country shipping and they always disclose public information by publishing financial reports on their websites.
It takes confidence in the claim so that it is truly supported by assets that are guaranteed based on the price ratio, all back to ourself.
It takes confidence in the claim so that it is truly supported by assets that are guaranteed based on the price ratio, all back to ourself.
lol, holding stable coins.
Stable coin is just a loan with 0 interest rate. Why don't you buy government bonds or credit deposit from banks? You will have near 100% chance to receive your money back plus interest, at least 2-3% per year.
Stable coin is just a loan with 0 interest rate. Why don't you buy government bonds or credit deposit from banks? You will have near 100% chance to receive your money back plus interest, at least 2-3% per year.
It's the government most people are suspicious of. And as mentioned, though stable coins seems stable, it's not that safe for long term. To discuss about the current options, DAI could be a better one as it's escrowed by 150% of ETH. As the value of ETH on contract decreases, so decrease the supply of DAI and vice versa. Though it's future too depends on future of ETH.
holding stable coins.?
Stable coin is just a loan with 0 interest rate. Why don't you buy government bonds or credit deposit from banks? You will have near 100% chance to receive your money back plus interest, at least 2-3% per year.
Stable coin is just a loan with 0 interest rate. Why don't you buy government bonds or credit deposit from banks? You will have near 100% chance to receive your money back plus interest, at least 2-3% per year.
Remember though, most stablecoins are based on real fiats so it's really not not profitable to invest in them. The only option you have is the GOLD project. It is a stablecoin based on gold market. Gold is probably the safest investment as they are not as volatile as the other market. This project isn't as long as the other projects but this is probably the best gold cryptocurrency stablecoin I've seen so far. They have an active team and an active community. They are pretty transparent about their gold holdings and you can check it 24/7. You can just check it out here if you are interested.
Stable coins are not for long term hold, why would you hold those? Just buy a trusted platform such as btc, eth, ltc, etc, and all top projects on cmc. Stablecoins purpose is differently from what I mentioned. Even years from now, you can see the price of stablecoin barely moved cause thats how they work and its purpose. To give a pairing for other coins and manuever the possible outcome of the market.
But my favorite is DAI among the rest, but tether is mostly used on every market.
But my favorite is DAI among the rest, but tether is mostly used on every market.
What's your reason to keep stable coins for long term? I'd cash it out if I'll just save it for long term with the same value. Those worries that you have with the other stable coins are applicable to every single one of it.
That's why I'm asking you what's the reason for keeping it longer. I'll choose my money to saved in bitcoin for long term than to save it on a stable coin.
I agree with you, if you want to hold the long term it is better to choose bitcoin or other large altcoin, because it will be more profitable if you look at the history of crypto, the price always goes up from year to year. But if you want to hold coins stable for the long term I think saving your money in a bank will be safer. That's why I'm asking you what's the reason for keeping it longer. I'll choose my money to saved in bitcoin for long term than to save it on a stable coin.
I am looking for the best trusted stablecoins to save money long-term, placement.
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, 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 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, 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?
PAX could be a good options mate,
but its better to keep your funds in crypto such as bitcoin or ethereum
What's your reason to keep stable coins for long term? I'd cash it out if I'll just save it for long term with the same value. Those worries that you have with the other stable coins are applicable to every single one of it.
That's why I'm asking you what's the reason for keeping it longer. I'll choose my money to saved in bitcoin for long term than to save it on a stable coin.
That's why I'm asking you what's the reason for keeping it longer. I'll choose my money to saved in bitcoin for long term than to save it on a stable coin.
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.
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.
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