Dai is the most usable and famous Decentralized Stable coin, it value is same to as of Dollar. But the big issue is price volatility which become high volatile when ETH price decreases, to maintain the Dai price they had to burn some ( according to my knowledge). Well a new alternative coin i have been checking, which is metacoin, As Metacoin is made after the Dai therefore all the error and emissions and problems has been eliminated in Metacoin,
Note: I am not advertising either Dai or Meta, I am just answering to your question, This post is only for education purpose. Thanks
Topic: What is the best decentralized stablecoin? - page 2. (Read 1030 times)
USDC is pretty cool but Binance pegged USDC is not available everywhere though.
Cross-chain Bridge Aggregatorshttps://bitcointalksearch.org/topic/cross-chain-bridge-aggregators-5389259
I advise you to learn how to use Cross-chain Bridge Aggregators. You can store your savings in secure decentralized stablecoins and exchange them for USDC or USDT at any time on any blockchain. Test Rango.
If best stablecoin is based on usage I think it will have to go to tether (USDT) the centralized one which stands to be the undisputed despite it having some shoddy background which I think many of us have forgotten about...But in the line of decentralized stablecoins no name comes close to DAI but is Bianance USD a dex or cex stablecoin??
If we talk about the safest stable coin then go for DAI because this one is a decentralized stable coin, this is only I know a decentralized coin. I don't think if there is another decentralized stable coins in the market. USDT and BUSD are good stable coins but I don't think if these two are very risky to store your funds in the long run, they were exists for many years and not having any problem especially USDT.
I reckon the best time to begin your plan for the bear market is to do it during the bull market. I want to hold American dollars or a dollar equivalent when the bear market arrives, however, I do not feel safe holding centralized stablecoins like USDT, USDC or BUSD. What are the decentralized stablecoins can everyone of you recommend?
So far I still believe in USDT (from any network) I think they are one company with various networks they provide.
I also think USDT is different from USDC or BUSD , USDT is much more reliable not just centralized to regulate how the coin is stable I believe they also have large backups of real assets so their value tends to be stable in large values and they can still maintain that stay safe till now.
USDC is pretty cool but Binance pegged USDC is not available everywhere though.
I reckon the best time to begin your plan for the bear market is to do it during the bull market. I want to hold American dollars or a dollar equivalent when the bear market arrives, however, I do not feel safe holding centralized stablecoins like USDT, USDC or BUSD. What are the decentralized stablecoins can everyone of you recommend?
So far I hold the USDT still in good condition. because besides the value is the same as the usd currency, usdt is also an effective way to save the assets that we have because the value is not too fluactive
I reckon the best time to begin your plan for the bear market is to do it during the bull market. I want to hold American dollars or a dollar equivalent when the bear market arrives, however, I do not feel safe holding centralized stablecoins like USDT, USDC or BUSD. What are the decentralized stablecoins can everyone of you recommend?
All stablecoins that are backed by gold or dollars, are centralised, as they need a company that will hold this collateral. Decentralised stablecoins will be either without any collateral or will be backed by crypto. The most trustless and decentralised stablecoins are certainly algorithmic stablecoins that are regulated by arbitrageurs, but I can't recommend you any of them, as they are still not very reliable. So the best choice for you will be DAI I think.
Even professional traders have trouble searching for a good project to invest in. So I think I just have to share my findings with you. Bondex looks like something that will really blow the market in the near future
I think Dai is probably the most famous decentralized stablecoin.
DAI is used on decentralized exchanges and by designed with its collateral, it is the safest decentralized stable coin
I am not an expert in cryptocurrency in general, but the little time I have spent and the little experience I have, I get to know that USDT is the best decentralized stable coin I have seen, although other stable coins like BUSD, are also very stable and all are good, but I think Usdt is the best stable coin.
They are not decentralized and that seems to be the problem for most people. I mean it is clear that we are not talking about something that controlled by one entity here, it is something that is very dangerous to trust your money with those people.
Yes, Binance is one of the most trusted crypto companies in the world and Tether has been handling that much "cash" very well too, so I would assume that they are doing fine but that doesn't change the fact that fiat is something that could be confiscated in that case how would we get it? What happens if nations or governments they work with decide to confiscate their cash? In that case all those money that we assume backed by those companies would end up being a terrible asset that worths nothing. A simple court order could screw them forever and that's not the type of risk people want to take.
Yes, Binance is one of the most trusted crypto companies in the world and Tether has been handling that much "cash" very well too, so I would assume that they are doing fine but that doesn't change the fact that fiat is something that could be confiscated in that case how would we get it? What happens if nations or governments they work with decide to confiscate their cash? In that case all those money that we assume backed by those companies would end up being a terrible asset that worths nothing. A simple court order could screw them forever and that's not the type of risk people want to take.
It's hard to believe a stablecoin is "decentralized" when it's pegged to traditional Fiat. By linking a cryptocurrency to the value of the US Dollar, you create nothing more than another banking system. Trusting any stablecoin would mean trusting banks with your money. Crypto was created as an alternative to the banking system, so stablecoins go against what was established in the first place. While DAI is often proclaimed as "decentralized", it's still linked to the value of Fiat. If banks collapse, then DAI will go all the way down the drain. I'd suggest anyone to look for the best decentralized cryptocurrency instead, to avoid many headaches in the future. Just my opinion
I don't think there is a decentralized stable coin yet, we only use the central one. Like BUSD, USDC, USDT. So far, I think with a central system it can prevent money laundering or illegal transactions here. What makes it difficult for you with a central stable system of coins
Of course there would be no decentralized stablecoin and this is totally opposing on where these stable coins been created which is pegged on fiat value itself which its understandable on which side it do stands.Why would people been looking for something like this which is is already considerable or understandable that stable coins would never been a decentralized one.
Deal better with other cryptos and we know on whats the true benefit or usage of these stable coins specially on avoiding yourself with volatility.
The up and rising Star TAG coin
In this case i say that anyone who hold there money in the form of stable coin normally many coins are available in the market BUSD USDN USDT and more another matic ect so in my suggestion is that the USDT is a very strong coin and many less chance they down there price so any one hold there money in the stable coin according to my advice they are use a USDT.
I don't think there is a decentralized stable coin yet, we only use the central one. Like BUSD, USDC, USDT. So far, I think with a central system it can prevent money laundering or illegal transactions here. What makes it difficult for you with a central stable system of coins
I’d recommend USDC over USDT just because there’s so much controversy that USDT called fall. I also use USDC.e and USDT.e when making trades on AVAX, that way I can easily transfer the stables back into ETH or AVAX when the time comes
DAI is the best decentralized stable coin anyone can invest a huge amount money and start earning something good in the future. It hard this coin to fail their customers in this season of celebration because over some years many customers have been giving a good testimony of DAI investment and how they started with a little capital to become a successful investors today in the community. Many bitcoin investors are now seeing the DAI as the stable coin that has a lot to deliver to their customers before the end of this year 2021. Bitcoin is preparing to take back it position to become the best stable coin it was since the beginning of this year.
All three coins like USDT, USDC or BUSD, they are dollar backed stablecoins, they need a company that will hold this collateral. Decentralized stablecoins are neither secure nor supported by cryptocurrencies. But DAI coin is different from them, DAI is only made for crypto community who care about decentralization and privacy value.
I reckon the best time to begin your plan for the bear market is to do it during the bull market. I want to hold American dollars or a dollar equivalent when the bear market arrives, however, I do not feel safe holding centralized stablecoins like USDT, USDC or BUSD. What are the decentralized stablecoins can everyone of you recommend?
I mostly use USDC stable coin for my trading and deposit/withdrawal transactions because I think it is the best stable coin created on ERC-20 and backed by !:! bases by Fiat currency. The USDC Coin is the second largest stable coin by market capitalization, sitting in the 32nd position overall.
It’s not too surprising that since its launch in September 2018 it has grown so quickly since it was created by the Centre Consortium, which is a collaboration between Coinbase and Circle Internet Financial.
https://www.coinbureau.com/analysis/best-stablecoins/
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