What is the best decentralized stablecoin? - page 4.

tyz

legendary

Activity: 3360

Merit: 1533

Almost the same, I also use BUSD and USDT very often now and never think about the FUD made by many people for USDT because as long as I am still very safe to use it, then I will never care about any FUD especially if the effect is very small.

He is asking for decentralized stable coins. USDT is not decentralized by definition. Tether directly issues new USDT coins against USD, which pure decentralized coins do not do. Decentralized stable coins are usually crypto-collateralized what means they are baked by other crypto and particular algorithms try to keep the price stable in all market phases.

manok jepang

full member

Activity: 776

Merit: 101

PredX - AI-Powered Prediction Market

when talking about stablecoins then my mind is on USDT and BUSD, although these two stablecoins often experience FUD news but it doesn't affect its development, because until now USDT and BUSD are still holding on to crypto, but if you have doubts about the two stablecoins, then DAI is worth it for you to recommend, because it is very decentralized, and until now I haven't heard any FUD news about it,

Snappycoco

member

Activity: 534

Merit: 19

Quote from: bbc.reporter on October 08, 2021, 08:46:01 PM

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 don't see any problem holding these 3 stablecoins. It still serves their purpose of having a 1:1 ratio to dollar. However, I think I understand that these stablecoins are centralised one and if hacked, it could affect your investments. So, I think DAI is the one for you bud. It offers decentralisation for your coins and is not controlled by anyone but its DAO.

cvasy

sr. member

Activity: 520

Merit: 250

KUWA.ai

Quote from: ?? on ??

If you are not comfortable with USDT because of the FUD news then DAI is your choice, this is only decentralized stable coin that I know.. I don't think BUSD is also having a problem but I don't hear any negative news about BUSD since it was created.

USDT has never had any influence on the FUD news and so far it is still very good to use, but for other options such as BUSD it is also very good because doing transactions on the BSC network for BUSD does not incur any fees now

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: tvplus006 on November 15, 2021, 01:36:48 PM

There is no special choice among decentralized stablecoins. And such a best decentralized stablecoin is DAI, whose capitalization is second only to USDT, USDC and BUSD. Undoubtedly, all those who do not accept centralization in cryptocurrency use this decentralized stablecoin.

DAI is undoubtedly the best decentralized stablecoin in the world. That's because it's has the most liquidity and mainstream acceptance compared to other stablecoins of its kind. Other decentralized stablecoins like USDJ and Neutrino USD are being traded on the market, but they're not as popular as DAI is. At least, they're an option for those looking into true financial freedom. Things would've been worse if centralized stablecoins were the only ones in existence. As long as people have a choice, nothing else matters. Just my opinion

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: bbc.reporter on October 08, 2021, 08:46:01 PM

...What are the decentralized stablecoins can everyone of you recommend?

There is no special choice among decentralized stablecoins. And such a best decentralized stablecoin is DAI, whose capitalization is second only to USDT, USDC and BUSD. Undoubtedly, all those who do not accept centralization in cryptocurrency use this decentralized stablecoin.

Anonylz

hero member

Activity: 2562

Merit: 577

Quote from: kanayaTabitha on October 10, 2021, 01:10:43 AM

Any reason why you are not feel safe if holding USDT, USDC or BUSD ? i think it's just the same risk if you're holding the decentralized one too. The price won't be so different, it's just based on US dollars, and it think USDT has the biggest trading volume of all crypto right now which means it's the safest in my opinion.

The problem is not about the difference in price, it is about having a truly decentralized stablecoin to store your asset, all centralized stablecoins like usdt have some risk using them since they are centralized and the owners have a big advantage over the project, already usdt have some controversy surrounding it, better he looks for a good alternative now.

Teknisi88

full member

Activity: 1050

Merit: 104

I think DAI.
DAI was created by Makerdao.
The makerdao system is known to have an extensive audit system and research that can help ensure strong platform security.

By using mathematical analysis, the developer team was officially able to verify all Smart Contract and underlying protocol mechanisms that formed the internal system structure.

ningrum

full member

Activity: 1610

Merit: 103

The OGz Club

Quote from: bbc.reporter on October 08, 2021, 08:46:01 PM

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?

why be afraid to hold USDT, USDC? although stable coins are not decentralized,
stable coins such as USDT, BUSD or USDC have become stable coins that are very safe and popular,
I guarantee you will not lose your money in your wallet, just keep it in a decentralized wallet because it is safer than centralized

Wahyuihib

member

Activity: 601

Merit: 10

Artemis

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

bishopcrypto

jr. member

Activity: 139

Merit: 6

Quote from: bbc.reporter on October 08, 2021, 08:46:01 PM

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?

Starting Nov. 18 you might want to add Haven's private algorithmic stablecoin xUSD to your list.

wemakereview

jr. member

Activity: 41

Merit: 1

Quote from: bbc.reporter on October 08, 2021, 08:46:01 PM

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 think you can trust DAI as a really decentralized stable coin. Of course, no proven reason against usdt yet! But, if you believe in news, choose DAI.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: bbc.reporter on October 08, 2021, 08:46:01 PM

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?

The best decentralized stablecoin is DAI. There's no need to look elsewhere. The stablecoin has a large liquidity and a wide number of projects supporting it every step of the way. Despite the numerous benefits surrounding DAI, not many merchants and businesses accept it as payment method. The number of exchanges trading DAI are a lot smaller than those trading centralized stablecoins like USDT and USDC. With centralized stablecoins, the peg is determined by real world assets (mainly Fiat) stored in the issuer's bank account. But in the case of decentralized stablecoins, everything is governed by algorithms. Crypto collateral is used to help maintain a decentralized stablecoin's peg relative to Fiat (USD). I'd prefer a decentralized stablecoin to store my money long term than a centralized stablecoin just because the risk of loss is minimal.

Ultimately, you decide which stablecoin to use among many of them trading on the market. As long as you diversify your investment into more than one stablecoin, you'll have nothing to worry about. Just my thoughts Grin

Thomas990

newbie

Activity: 2

Merit: 0

I think DAI, there are few new Decentralized stable coins out there right now but none is more serious with their aims than DAI stable coin and believe me Decentralized stable coins make more sense than centralized stable coins like USDT and others, things are more safer with decentralized projects.

sana54210

legendary

Activity: 3346

Merit: 1128

Quote from: bbc.reporter on October 08, 2021, 08:46:01 PM

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?

Obviously there will be a lot of argument which one is better, but I believe DAI is the first one that got some attention and I believe that one is better. The sad thing is I still do not know neither centralized nor decentralized one really works. I mean centralized one is told to me like we buy the USDT and tether holds that much dollars in their bank accounts however not like we are getting it back neither?

In the end, we trade it between each other and I give it to you and you give it to me and Tether company is not giving any fiat to anyone in return anyway, so they may have zero and it wouldn't really bother them since nobody asks them to actually back it. If it is like that on centralized, then how is it really in decentralized version? How do we decided that 1 DAI worths 1 dollar? It is really a big situation for me that I do not fully understand.

tyz

legendary

Activity: 3360

Merit: 1533

Quote from: bbc.reporter on October 08, 2021, 08:46:01 PM

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 personally use USDN and EURN (decentralized Neutrino stable coins on the Waves platform).
I felt the same way as you two years ago, increasingly worried about using centralized stable coins. In my search I came across USDN, which I have been using for about two years now and am very satisfied. In addition, there were also some crashes and highs during this time and the coin has always proven its stability. Another positive point, you can stake USDN and EURN for 10+% per anno at the moment. So its a good way to park money for some time.

kodtycoon

legendary

Activity: 1568

Merit: 1002

Quote from: ?? on ??

If you want a project with a working product then take a look at Nftyplay and buy $POLO. You can create images, videos, and NFTs while earning rewards. Everything else is speculation.

Is there no better suggestion than that ? because when it comes to making Videos, everyone can make it very happily for the various Platforms that he likes and that he is good at, but if for the advice you say this I see is really very bad garbage because it ignores BTC, ETH and BNB which always has bullish potential in the market.

Devifajarina

full member

Activity: 602

Merit: 102

Trident Protocol | Simple «buy-hold-earn» system!

Quote from: ?? on ??

If you want a project with a working product then take a look at Nftyplay and buy $POLO. You can create images, videos, and NFTs while earning rewards. Everything else is speculation.

The extent to which Nftyplay and $POLO projects work and can generate real income, is not all current forms of nft are speculation, nft is like the hype that many people talk about, this program is only temporary there is no long-term guarantee, so far whether the two programs can be trusted will have a good impact in the future or this program is the same as the speculation you passed on to other nft.

bbc.reporter

legendary

Activity: 3122

Merit: 1492

@tbct_mt2. Agreed! It also it appears that DAI is not as safe as the replies in this thread are saying because to get DAI, it must be collaterized by cryptocurrencies. This is very dangerous during a very big market dump which might cause a bank run, I reckon. Similar to what happened to IRON?

tbct_mt2

hero member

Activity: 2366

Merit: 838

Quote from: bbc.reporter on October 11, 2021, 11:39:22 PM

It appears DAI is considered the safest choice and the most popular to hold hehe. In any case, I am becoming more uncomfortable with tether USDT when the amount I hold becomes larger. We can never be too certain when the peg will break.

To get the safest allocation for your capital in stable coin, you can decentralize it into some stablecoins. We can not control what will happen with any stable coin so decentralization is the best.

Allocation biggest part for a best stable coin in your own perspective, and smaller parts for good or acceptable stable coins. Store your capital in a single stable coin is not good and it is risky.

Topic: What is the best decentralized stablecoin? - page 4. (Read 1048 times)