Until we are having a decentralized stablecoins, we cannot assume there could be any problem-free best stablecoin is available to make use. I mean no stablecoin can be classified as best as of now but we can make use of tether kind of long running thing for short term trading. But, do not save it like your fiats for years, anything may happen at any time like governments may seize the stablecoin company itself or the stablecoin company may go bankrupted.
As of now, I am making use of tether for my trading and I do not face any problem in using it but I suggest anyone to "use" stablecoins on their own due diligence because for your risks, you only responsible forever. I am expecting any decentralized stablecoin to hit crypto space some time soon but not sure what is actually going on after some pre-ANN happened on this forum itself.
Topic: What is the best stablecoin right now? - page 4. (Read 494 times)
Personally never used anything except USDT and USDC. But as per USDT it truly has a 'shady' reputation so maybe it's not that good as it used to be. Also, its widely known China used USDT to withdraw funds from Russia. Makes sense, ain't it?
Most of them are centralized you may need to avoid them. But I just wondering, for what purpose you need stable coin? Is it just to store your money? Or trading purpose? If you just keep your money for trading purpose I think you are safe because you are not enterely use money fiat you trade. But I don't think it would be good if you choose stable coin for long term saving you may good to use bank service to do that instead of cryptocurrency.
There are shady things we don't know about stable coins. They claim to be backed by USD and some other fiats but we don't really know that such security values are collected and increased before companies who create those stable coins minting more of it. Whenever a minting wave of stable coin, for instance Tether USD, appear we see many drama around.
Governments always try to manage and control the game so it will be risky for us if they take serious action and apply terrible strict laws on stable coins in the future. Who knows? They will freeze and shutdown all stable coins, and force us to use digital currencies from governments.
Governments always try to manage and control the game so it will be risky for us if they take serious action and apply terrible strict laws on stable coins in the future. Who knows? They will freeze and shutdown all stable coins, and force us to use digital currencies from governments.
There certainly has been a proliferation of stable coins in this industry with most developers looking to swindle funds for personal use since they know the crypto industry isn't regulated. They have have the opportunity to do just about anything. However, I still think the most recognized and recommended stable coin is the Tether USDT. Not only is it the most used stable coin as evident in its trade volumes and position on CMC, it has become the most trusted stable coin amongst several others in market. Several traders have also stated that they are much more comfortable with Tether against others.
Not all stablecoin are based on fiats, there are some stablecoins like GOLD that you might check out. They've been running for almost a year now and they've been doing great on the project and the community. They also have real gold stored that you can 24/7 check in their website. The token supply also goes 1:1 with the gold stored in their vault so I'd say they are going for a long-term run.
Always remember though. There's no best stablecoin, there's just convenient one that will suit your need.
Always remember though. There's no best stablecoin, there's just convenient one that will suit your need.
There are pros and cons of every stablecoins. DAI/SAI are one of the transparent coins that regularly maintains the supply and has enough crypto as collateral. All of which can be easily verified. Though highly being depended on crypto prices may bring trouble if the crypto had a flash crash.
Other USD coins are also are backed by collateral and are as good as any if all you are doing is using them to trade.
In term of valuation and demand USDT is much better than DAI but we can't sure whether DAI is free from the backdoor. Other USD coins are also are backed by collateral and are as good as any if all you are doing is using them to trade.
I have different opinion than you, this time USDT is the best stable coin even some people may prove it if that can be frozen too but how about the liquidity?
Hello,
It was a long time since I entered the forum, but today I have an important question, and I really did not find recent answers on this topic online, most are from 2019, so I want to know from a professional point of view, what's the best Stablecoin to keep funds fearless in the long run? I know that the most used is the Tether, but I have also read that it does not have a good reputation precisely because there were rumors that they only had 73% of the Thether covered by dollars, and the Paxos Standard I have also read that it is good, but two years ago I readws that the funds were frozen in the accounts of some people, and they had to show the origins of the funds, and I don't know how the situation will be right now. I think that asking is the best cure for ignorance, so I would like to know your opinion on this topic and your recommendations about the best stablecoins, thank you.
It was a long time since I entered the forum, but today I have an important question, and I really did not find recent answers on this topic online, most are from 2019, so I want to know from a professional point of view, what's the best Stablecoin to keep funds fearless in the long run? I know that the most used is the Tether, but I have also read that it does not have a good reputation precisely because there were rumors that they only had 73% of the Thether covered by dollars, and the Paxos Standard I have also read that it is good, but two years ago I readws that the funds were frozen in the accounts of some people, and they had to show the origins of the funds, and I don't know how the situation will be right now. I think that asking is the best cure for ignorance, so I would like to know your opinion on this topic and your recommendations about the best stablecoins, thank you.
If i am analyze, you are interested and want a light and reasonable explanation abaout "What is the best stable coin at the moment". I also agree with answers has been given like above and if I can add another reason is:
1. All can receive USDT and have traded with the same value as fiat money;
2. The principle of cheap, fast, safe and comfortable is a strong blockchain-based magnet;
3. This is inseparable from the stable volatility of dominant price.
For This Moment Money is used to make money.
There are pros and cons of every stablecoins. DAI/SAI are one of the transparent coins that regularly maintains the supply and has enough crypto as collateral. All of which can be easily verified. Though highly being depended on crypto prices may bring trouble if the crypto had a flash crash.
Other USD coins are also are backed by collateral and are as good as any if all you are doing is using them to trade.
Other USD coins are also are backed by collateral and are as good as any if all you are doing is using them to trade.
I'll go with the highest market cap for now, which is USD Tether.
But I started also to be intrigued by DAI of MAKER which is also a stable coin under maker, which runs under the Ethereum network.
I also love DAI because you can use it to the Maker CDP, which for example you will borrow a stable coin which here is DAI, and you will have some collateral, like Ethereum.
But I started also to be intrigued by DAI of MAKER which is also a stable coin under maker, which runs under the Ethereum network.
I also love DAI because you can use it to the Maker CDP, which for example you will borrow a stable coin which here is DAI, and you will have some collateral, like Ethereum.
Whoa so looks like beside some Stablecoins that listed on your linked thread basically DAI It's a good option since it can't freeze our asset and fully "Decentralized"? I though stablecoins like USDT, USDC, etc was fully decentralized, Really mate thanks for this one, This was new for me.
Anyway OP i think USDT was the best option but it's better to take a look linked thread above, Cheers mate.
Anyway OP i think USDT was the best option but it's better to take a look linked thread above, Cheers mate.
I never really said that DAI is "fully decentralized" though, because it really isn't. At best, it's non custodial. But then again, it has it's own downsides. It fluctuates in price a lot more than a stablecoin should, and it's sort of "ETH backing" structure could easily implode when prices of ETH and MKR significantly drop due to things like black swan events.
But yea, unfortunately most people think cryptocurrency = decentralized. Even if Bitcoin is the only one that's actually fairly decentralized(yes, even ETH is centralized).
~Snip
PSA: Most Stablecoins Can Be Frozen, Even When in Your Own Wallets https://bitcointalksearch.org/topic/updated-psa-most-stablecoins-can-be-frozen-even-in-your-own-wallets-5204055
Whoa so looks like beside some Stablecoins that listed on your linked thread basically DAI It's a good option since it can't freeze our asset and fully "Decentralized"? I though stablecoins like USDT, USDC, etc was fully decentralized, Really mate thanks for this one, This was new for me. PSA: Most Stablecoins Can Be Frozen, Even When in Your Own Wallets https://bitcointalksearch.org/topic/updated-psa-most-stablecoins-can-be-frozen-even-in-your-own-wallets-5204055
Anyway OP i think USDT was the best option but it's better to take a look linked thread above, Cheers mate.
Just a heads up, whatever stablecoin you use(besides DAI/SAI, but I don't suggest holding that either because it has it's weaknesses), they can be frozen even though you're holding them in your own non-custodial wallet. The safest is to just hold legitimate USD instead.
You might think, yea sure most stablecoins are doing fine right now. But it doesn't automatically mean they can't do anything that could mess you up in the future, especially knowing that most stablecoins are controlled by centralized entities.
For more details about this:
PSA: Most Stablecoins Can Be Frozen, Even When in Your Own Wallets https://bitcointalksearch.org/topic/updated-psa-most-stablecoins-can-be-frozen-even-in-your-own-wallets-5204055
You might think, yea sure most stablecoins are doing fine right now. But it doesn't automatically mean they can't do anything that could mess you up in the future, especially knowing that most stablecoins are controlled by centralized entities.
For more details about this:
PSA: Most Stablecoins Can Be Frozen, Even When in Your Own Wallets https://bitcointalksearch.org/topic/updated-psa-most-stablecoins-can-be-frozen-even-in-your-own-wallets-5204055
yes, that's a very good piece of advice. as stable coins are controlled by centralized organizations, they have the full control on what direction they will be heading to. also, even USDT for me is not a safe stable coin especially for long term holding. at one point, they admitted that USDT was not fully backed by US$ reserves, so how can you assure that they are now being totally honest with their assets? what I am trying to convey here is, just be careful in dealing with stable coins, they might collapse anytime and you should be prepared for that situation.
Just a heads up, whatever stablecoin you use(besides DAI/SAI, but I don't suggest holding that either because it has it's weaknesses), they can be frozen even though you're holding them in your own non-custodial wallet. The safest is to just hold legitimate USD instead.
You might think, yea sure most stablecoins are doing fine right now. But it doesn't automatically mean they can't do anything that could mess you up in the future, especially knowing that most stablecoins are controlled by centralized entities.
For more details about this:
PSA: Most Stablecoins Can Be Frozen, Even When in Your Own Wallets https://bitcointalksearch.org/topic/updated-psa-most-stablecoins-can-be-frozen-even-in-your-own-wallets-5204055
You might think, yea sure most stablecoins are doing fine right now. But it doesn't automatically mean they can't do anything that could mess you up in the future, especially knowing that most stablecoins are controlled by centralized entities.
For more details about this:
PSA: Most Stablecoins Can Be Frozen, Even When in Your Own Wallets https://bitcointalksearch.org/topic/updated-psa-most-stablecoins-can-be-frozen-even-in-your-own-wallets-5204055
It is that the USDT did not quite convince me at all ... I do not know, I have not read very good reviews about it, and that is the most popular, but that does not mean that it is the best. That is why I was asking other recommendations and I want stablecoins for a very simple reason that many people are doing and that is to buy Bitcoins at a low price, wait for it to rise, then transfer it to digital USD to obtain the profits and that a possible drop does not affect you, and when the Bitcoin goes down again, then move from USD to Bitcoin, and so on. It is a comfortable and profitable strategy, and what I like the most, which is fast, since some automatic exchangers allow you that possibility or if not, why do you think stablecoins are so used by traders? I am simply trying to find the best one in terms of security and duration, I do not want surprises that the funds will be frozen or some collapse. I prefer to do things well, if not, better not to do them.
If you are looking for stable coins there is no other than great and it is only USDT. But I have to ask a question first, why you want stable coin/s?
Because for the fact that stable coin/s won't make you profitable than those volatile coins just like Bitcoin, Ethereum, and the rest. If you are looking at this thing (profit), of course, I will invest these coins rather than to stick my money into no moving value coins.
Having this stable coin is only having the assurance that we can't lose our money and less risk but not good for investment, unless if you are just preserving your money in crypto.
Because for the fact that stable coin/s won't make you profitable than those volatile coins just like Bitcoin, Ethereum, and the rest. If you are looking at this thing (profit), of course, I will invest these coins rather than to stick my money into no moving value coins.
Having this stable coin is only having the assurance that we can't lose our money and less risk but not good for investment, unless if you are just preserving your money in crypto.
Hello,
It was a long time since I entered the forum, but today I have an important question, and I really did not find recent answers on this topic online, most are from 2019, so I want to know from a professional point of view, what's the best Stablecoin to keep funds fearless in the long run? I know that the most used is the Tether, but I have also read that it does not have a good reputation precisely because there were rumors that they only had 73% of the Thether covered by dollars, and the Paxos Standard I have also read that it is good, but two years ago I readws that the funds were frozen in the accounts of some people, and they had to show the origins of the funds, and I don't know how the situation will be right now. I think that asking is the best cure for ignorance, so I would like to know your opinion on this topic and your recommendations about the best stablecoins, thank you.
It was a long time since I entered the forum, but today I have an important question, and I really did not find recent answers on this topic online, most are from 2019, so I want to know from a professional point of view, what's the best Stablecoin to keep funds fearless in the long run? I know that the most used is the Tether, but I have also read that it does not have a good reputation precisely because there were rumors that they only had 73% of the Thether covered by dollars, and the Paxos Standard I have also read that it is good, but two years ago I readws that the funds were frozen in the accounts of some people, and they had to show the origins of the funds, and I don't know how the situation will be right now. I think that asking is the best cure for ignorance, so I would like to know your opinion on this topic and your recommendations about the best stablecoins, thank you.
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