Topic: What is the best USD stablecoin? Tether, USDC? - page 3. (Read 649 times)
Im using Tether in my trading operations. but i dont think stablecoins has any difference, stablecoins are pegged with stable assets so they are all the same, We should stop comparing those stablecoins maybe its "USDC,Tether, TrueUSD,Gemini etc. the truth is they wont fluctuate much compare to other cryptocurrencies.
I just don't use any stablecoins. I mean, why would I, I can just make use of an exchange that has BTC/USD trading pairs.
It's not that I convert to fiat very often, I tend to keep most of my holdings in crypto anyways.
But yeah, Tether is a disaster waiting to happen, they've changed their terms so often and have no proof of their backing in USD.
In addition Tether, you still have a lot of different choices and USDC is also a great choice for many large investors because the stablecoin liquidity is very high and is widely accepted worldwide. In fact, many big investors fear Tether will collapse in the near future but looking at the truth, this stablecoin cannot collapse because the trading volume is still very high and no one can ban Tether in this market. The most important thing is liquidity and if you have a large asset, choosing stablecoin is extremely important It's not that I convert to fiat very often, I tend to keep most of my holdings in crypto anyways.
But yeah, Tether is a disaster waiting to happen, they've changed their terms so often and have no proof of their backing in USD.
“Stable coin” is a term used in cryptocurrency to describe cryptocurrencies meant to hold stable values. For example, Tether (USDT) is a blockchain based asset meant to trade for $1 USD. Tether is a “price-stable cryptocurrency” that is “pegged” to the U.S. dollar.
Each stable coin has a unique set of mechanisms, but they all generally work the same way: They hold collateral of some type and manage the supply to help incentivize the market to trade the coin for no more or less than $1. For some, like Tether or TrueUSD, the concept is to hold actual dollars in reserve that are redeemable for the token. For others, like Dai, they hold crypto assets in reserve and have a lending system.
Each stable coin has a unique set of mechanisms, but they all generally work the same way: They hold collateral of some type and manage the supply to help incentivize the market to trade the coin for no more or less than $1. For some, like Tether or TrueUSD, the concept is to hold actual dollars in reserve that are redeemable for the token. For others, like Dai, they hold crypto assets in reserve and have a lending system.
If you wanted to store USD on your cold storage for, let’s say one year, which stablecoin would yo trust the most to still be worth 1 USD in a year?
none of them because it is a very foolish thing to do. if you want to store fiat then store fiat in your bank account or store it as physical cash under your mattress! you will be a lot safer that way.Quote
I ask because I simply don’t trust Tether. I think the day could come where it is either regulated out of existence, or it’s lack of USD reserves causes it to crash and burn.
not trusting has nothing to do with having reserves. the problem with stable coins is their centralization that means they can easily disappear if some day something went wrong with them. specially when they are created and controlled by an exchange (bitfinex) it becomes even riskier. 
I just don't use any stablecoins. I mean, why would I, I can just make use of an exchange that has BTC/USD trading pairs.
It's not that I convert to fiat very often, I tend to keep most of my holdings in crypto anyways.
But yeah, Tether is a disaster waiting to happen, they've changed their terms so often and have no proof of their backing in USD.
It's not that I convert to fiat very often, I tend to keep most of my holdings in crypto anyways.
But yeah, Tether is a disaster waiting to happen, they've changed their terms so often and have no proof of their backing in USD.
If you wanted to store USD on your cold storage for, let’s say one year, which stablecoin would yo trust the most to still be worth 1 USD in a year?
I ask because I simply don’t trust Tether. I think the day could come where it is either regulated out of existence, or it’s lack of USD reserves causes it to crash and burn.
I’m thinking USDC is the best way to go, because it is backed by a real US company (Coinbase) which has had real longevity in crypto. It can be stored on a ledger nano in my ether wallet. I just feel like it’s going to be around in a year, it’s Coinbase.
Any thoughts or advice?
I ask because I simply don’t trust Tether. I think the day could come where it is either regulated out of existence, or it’s lack of USD reserves causes it to crash and burn.
I’m thinking USDC is the best way to go, because it is backed by a real US company (Coinbase) which has had real longevity in crypto. It can be stored on a ledger nano in my ether wallet. I just feel like it’s going to be around in a year, it’s Coinbase.
Any thoughts or advice?
For storing purposes, i think USDC but in my case, im into trading so both of this stablecoins listed in the market are good for me, as i do trading short term only, i am not storing stable coin for a long period of time, as some of this do not go through any extensive research for their longivity,i know i didnt trust anything, but i just care of my funds.
If you don't trust Tether, then the USDC is also a good choice. I would also advise you to pay attention also to PAX.
Perhaps a split between multiple stable coins is the most prudent method
Im using USDC and TUSD, both already proven if that was having enough dollars to back up its token or coin. Im a big no for tether because was getting a problem with SEC that is not yet resolved. To avoid any risk and it's better to used stable coin that already audited. that's a good method but a trusted stable coin must be chosen. 
There's also GUSD which stands for gemini dollar owned by the company Gemini. And this company is being operated by the famous Winklevoss twins.
https://coinmarketcap.com/currencies/gemini-dollar/
https://coinmarketcap.com/currencies/gemini-dollar/
Perhaps a split between multiple stable coins is the most prudent method
This must be the first battle of stable coins topic I've read in a long while.
I'm just curious, why would you want to store a stable coin?
To choose which one, I would avoid the shady USDT for long term storage.
I'm just curious, why would you want to store a stable coin?
To choose which one, I would avoid the shady USDT for long term storage.
3 letter word. Starts with a T ends with an X.
There are some more stablecoins available in the market but always tether seems so good because of it high volume and regular usages than other cryptocurrencies...
You may try these coins also while you trading,
PAX
USDS
TUSD
You may try these coins also while you trading,
PAX
USDS
TUSD
Any stablecoin could potentially be a scam and not go through a financial audit. It is always necessary to keep it in mind and, if possible, use the exchanges where you can trade to real $ . What is the difference where verification takes place on bitfinex or on bitstamp, kraken, liquid or any other exchange that allows you to trade against the dollar?
I can't say particular one is safest but bitfinex seem to be, too big to fall so i am choosing usdt when using stablecoin.
Also it has the biggest volume.
Also it has the biggest volume.
This must be the first battle of stable coins topic I've read in a long while.
I'm just curious, why would you want to store a stable coin?
To choose which one, I would avoid the shady USDT for long term storage.
I'm just curious, why would you want to store a stable coin?
To choose which one, I would avoid the shady USDT for long term storage.
Im using both for trading, but if i should hold usd in blockchain i think i will choose USDC for it, the reason is same with you, im more comfortable with coinbase than tether's company
If you wanted to store USD on your cold storage for, let’s say one year, which stablecoin would yo trust the most to still be worth 1 USD in a year?
I ask because I simply don’t trust Tether. I think the day could come where it is either regulated out of existence, or it’s lack of USD reserves causes it to crash and burn.
I’m thinking USDC is the best way to go, because it is backed by a real US company (Coinbase) which has had real longevity in crypto. It can be stored on a ledger nano in my ether wallet. I just feel like it’s going to be around in a year, it’s Coinbase.
Any thoughts or advice?
I ask because I simply don’t trust Tether. I think the day could come where it is either regulated out of existence, or it’s lack of USD reserves causes it to crash and burn.
I’m thinking USDC is the best way to go, because it is backed by a real US company (Coinbase) which has had real longevity in crypto. It can be stored on a ledger nano in my ether wallet. I just feel like it’s going to be around in a year, it’s Coinbase.
Any thoughts or advice?
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