Topic: What is the best stablecoin right now? - page 3. (Read 479 times)

If other exchanges should decline the use of USDT, it will be of no relevance as we have today. More so, USDT has got a lot on controversies and pending accusations about their lack of transparency when it comes to auditing. They printed more, yes, but where are they using ti back it up.
What made them be ahead of others is because they are the first, just like the first set of cryptocurrencies that were launched. At a point, people wanted to lose trust in USDT and were afraid if exchanges were going to delist them. I think there were lots of FUD at that time.

Right now easily USDT because they are basically everywhere, all exchanges trying to mimic what bitfinex did and what tether did but it is not getting as much attention as USDT right now.

If am not wrong tether had to print out another 600 million dollars! worth of usdt more during this corona virus period because many people sold their coins but they went to USDT instead of directly to fiat because they believed the time to go back into crypto will be soon and they didn't want their money to stay at fiat at banks in case this corona virus protections of governments could affect banks as well and they wanted to stay at USDT instead and own their own coins. However one thing is for sure, there is a ton of money to be made from this, so I am expecting some huge companies to get into it as well.

Particularly I can't hold some good numbers of stablecoins in my possession because of their side effects when it come to cryptocurrency volatility. The rate at which many of these stablecoins can crash is always unbelievable. Sometimes last two years when I decided to hold some stablecoins in my portfolios but unfortunately many of them went down to the drain and I started to count my losses. Even some of these stablecoins aren't recognized by what they're backed with, so, let's be very much careful to choose coins to hold and to invest.

What means suspicious activities? Large amounts of money could be cause for freezing? Because in my country, with the government issue, they block your bank account when you have a lot of funds that in theory you have not '' 'justified' ''. There are many people who do not justify Internet earnings, because they charge 50% commissions. In other words, you can spend 5 years making money online having invested only $ 10, and then you try to withdraw $ 20,000 from the bank, and the bank gets $ 10,000 commission, and that happens in my country. So what many people I know do is withdraw with cards given by some payment processors or Internet wallets, or withdraw little by little every month. It's so sad, if there weren't that many rates, people wouldn't do these '' 'tricks' '', but the way they abuse is unfair.

I thank everyone for the answers. I have seen that there has been a great debate between the USDT and the DAI. I honestly do not like the USDT, since I learned that there is only 73% liquidity, I have preferred to stay away from that Stablecoin. It can be popular and widely used, but that does not mean it is the safest. I am now between DAI and PAX, at the moment PAX has always been a good option for me, but the issue of freezing funds is something that has concerned me, and about DAI, you can explain to me better what you mean about the price is very volatile? I believed it was stable being backed by the dollar. And another thing, is there a Euro Stablecoin? Because I think that for most of us who are European, perhaps that currency can benefit us, or perhaps not, although the dollar is always a pain when it comes to conversation. About Stablecoin GOLD, I find it interesting, although I am not entirely convinced.


I am looking for more trading by making exchanges between Stablecoins and Cryptocurrencys, because of the speed, the few commissions and above all the power to do it from Cold Wallets. I used to use official Exchanges and Hot Wallets like Binance or Xapo, but after the hack that Binance suffered, and that a friend of mine lost $ 300,000 in Blockchain due to a hack, fear entered me and I preferred to stop having money in Exchanges and online services . I saw Stablecoins as an opportunity to be able to store coins in times of high price in Bitcoin like now, and then pass them back to Bitcoin when the price drops. Having Fiat money and entering it by bank transfer is not an option for me, since then entering it again and withdrawing it will charge you commissions, and there is a lot of slowness, and there is the problem that you depend on third parties, and your account can be hacked. I prefer to sell the money when I am sure that I will be a long season without trading, that's why I saw the issue of Stablecoins as a good opportunity not to depend so much on the Fiat.
 

There are lots of good stable coins, but the truth that there will always be a complaint about most of them if not all. There are things you will use and not have problems, but others will make use of it and have problems. So, sometimes I don't really consider things like these, I just do my research on the coins and check out their features and other necessary things I'm meant to check. And once I confirm that they are really good, I start investing and making use of them and I don't have the time to be asking around.

Tether, and there are still people making use of it. Then as for PAX, I don't think your funds will automatically be freezed just for no reason, except there are some suspicious activities that you're into. If you stay clean, then you wouldn't have any problem. Your choice.

Obviously, USDT is the largest stablecoin in this market and many people are using it. It is certainly the best and safest stablecoin for everyone to trust and use

For long run I'll start with advising against USDT, since it doesn't have a proper audit and there's a huge chance it's not properly backed.

My advice is to check the background of each and every stablecoin until you find a few good options.
If you want to stay on USD related stable coins, Gemini's GUSD could be an option (although there are not that many exchanges accepting it).
But you can also look at GOLD token (Digital Gold), which is stable against gold. If you want to research, you can start with https://bitcointalksearch.org/topic/ann-gold-first-100-liquid-stablecoin-backed-by-gold-5161544.

However, whatever advises you get (including mine!) DYOR since it's your money.

Knowing fully well that we all have different opinions and mindset amongst others, it is notable to know that there's several choices. Stable coins can br usdt, tusd, busd, pax, gold, or dai.

For some individuals, Dai is the best
For some individuals, Tusd is most preferable, some adore usdt

The best stable coins for me is tether, but I don't think if it is good to store your funds for long there, some people has negative view of this coin. If you still not convince to store your money in stable coins,  I guess you better go USD digital money like paypal you know.

There are many good stablecoins created over the years, but to choose the most stable and the highest volume, you should choose USDT. It was the first stablecoin and it still works well for the time being

Cryoto is really volatile and there could be days when you see a good rally happening and at days when market fell badly as well. Volatility is a part of this crypto coin and such stability would not be seen for longer time. Though BTC has being doing good for a while now inspite of the halving it did not jumped or fall very high and slowly rising towards 10k levels.

Tether will still be the best stable coin in my opinion, especially since Tether is still in the top 5 according to coinmarketcap,
tether have more volume than other Altcoins shows that Tether is the trader choice for stable coins

I am sure nobody would like to hold huge amount in stable coins for long time and it may be reasonable decision at all, but for temporary purpose usdt and dai can be best options especially trc20 usdt so If you have any strategy regarding this then you may consider to chose these stable coins.

I understand that you want to invest in a stable cryptocurrency in order to share your stock in different sectors of finance. Cryptocurrencies are very volatile, so this is not the best choice. Better to invest this money in gold. If there really is a non-volatile cryptocurrency then this is super. I will follow this topic to see it.

Although many people have made the USDT recommendation, unfortunately I will not make the USDT recommendation, because if we examine the past price movements of this cryptocurrency, we will see that the price was not stable during the times when the market was bad. In some cases, the price exceeding 1 USD has fallen well below 1 USD in some cases and has reached its normal value again in a short time. Also, the only advantage of the USDT project is its high transaction volume. There are many stable cryptocurrency projects that are more successful than this project. My preference and suggestion will be PAX or USD-D.

One of the best stable coin that you can use is USDT, that is the most stable coin as far as I know, but if you were not convinced by it, then I think this is the great time for you to use a real USD and for sure, fiat money is the best for you because it is stable compared to cryptocurrency.

How long you plan to keep them? if you don't like the issues that's being faced by Tether, I guess that your choice depends on the duration of how long you plan to keep your funds with a stable coin. That scenario that happened to Tether can also happen with USDC and other stablecoins like GUSD.

This does make sense but most of those popular stable coins do have liquidity.

USD as the popular currency all over the world.
USDT of course in the crypto currency field.

I guess that is the real purpose of it.
They will acquire a lot of supporters by using the name which had been famous for a long time.
And now look at it just moving in cents from $1. We could conclude that the experiment is successful.