What is the most trusted stable coin currently (in your opinion)? - page 2.

tvplus006

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Quote from: bitcoin-shark on September 02, 2022, 05:56:28 PM

...however, one is as good as the other the security level is the same for all stable coins

In fact, the security level of stablecoins is different, and first of all, this difference lies in whether the stablecoin is centralized or decentralized. When choosing a centralized stablecoin, you must fully trust the issuer of the stablecoin you have chosen. If you are a supporter of decentralization, then in this case your choice should stop at DAI.

Ayers

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Quote from: ?? on ??

BUSD and USDC is must trusted and USDT also trusted for me. and must of the time i use USDT for convert it with fiat money and USDT is much popular stable coin on Binance p2p trading . I always feel comfortable exchanging my crypto with usdt to convert it to fiat money. but for holding big amount of stable coin i think BUSD & USDC will be a better choice

many people consider usdt unreliable to use but it is clearly the most used stablecoin, i am also a regular p2p user on binance and usdt is the most popular stablecoin, not only on binance but i find it popular with most other exchanges like huobi vs bybit...

i don't really see much of a difference between stablecoins, it's best not to keep them for long and only use them when necessary, buying and selling stablecoins is not too difficult, so we can buy when we need to limit long-term holding

bitcoin-shark

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They are all more or less trustworthy i rely on usdt but only because it was the first and by now i'm used to it, however, one is as good as the other the security level is the same for all stable coins

ije07

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Well, with regular audits and definite regulations that exist on BUSD and USDC, the most trusted and low-risk stablecoins are these 2 coins so they are still very safe when we want to secure some altcoin or BTC assets against stablecoins so there is no high decline in value when the market bears come, especially when the two reserve coins have large volume markets, so my choice remains BUSD and USDC for stablecoins.

gabbie2010

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Quote from: smartaction on July 31, 2022, 11:43:25 PM

Quote from: feeling sound on July 31, 2022, 09:31:32 PM

1- Tether: USD
2- USD Coin: USDC
3- Binance USD: BUSD

These stablecoins seem very credible to me. And I use them constantly. Especially BUSD & USDT I mostly use for trading purpose and other work. And Coinmarketcap and other trucking sites price truck as rate of USDT. On the other hand USDT is very popular in p2p trading and most people use USDT for P2P.

I don't bother to know which stable coin is trusted and legitimate, however I have been a user of USDT for a very long time without any issue being the most stable coin which I used in Binance P2P transactions and I also used it to trade crypto/USDT pairs, I am sure other stable coins are reliable and trusted too, but my preference for USDT is second to none because I am used to hodling my coins with it, I believe every crypto users have their choice and preference for each of the stable coins mentioned by the OP

Xal0lex

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If we're talking about the stablecoins that are best at resisting de-peg, they are DAI and TUSD. The other stablcoins on this list are more susceptible to de-peg in moments of market volatility. We can also say about USDT and USDC centralized stablecoins that they are the most regulated and subject to various sanctions and blocking. So it is very dangerous to use only these stablecoins, diversification is necessary, but never use algorithmic stablecoins, they are extremely imperfect and very volatile in times of market volatility.

pgbit

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So there are many stable coins running in the market right now. A stablecoin is a crypto coin whose value is always equal to one dollar.BUSD is one of my favorites stable coin which is most trusted and stable coin.It is also known as Coin of Binance Exchange.and this coin busd is approved by new york state department of financial services,its means that if you are taking BUSD, it has real assets to back it up.The reason for selecting BUSD is that they are audited, safe and secure,back up by real dollars. One BUSD is equal to one dollar.

Jeger.Kiting

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I think it's true that using USDC and BSUD as a pair is safer than using USDT which is not transparent in terms of auditing, regulation and underlying storage, as stablecoins like Tether (USDT) are said to be at higher risk because they are less trustworthy. Although USDT has US dollars as its base, it is held in less reliable offshore banks and USDT is not audited regularly. This is in contrast to Binance USD (BUSD) which the company audits every month to make sure the money in the bank is equal to the BUSD in circulation. Meanwhile, USD Coin (USDC) follows United States regulations and cooperates with banks and auditors to be audited every month.

jation678

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BUSD is my #1 at the moment, too much uncertainty about USDT and USDC

philipma1957

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All stable coins pegged to the USA dollar are under a lot of pressure due to the US I savings bond rate.

At the moment an I bond which is also pegged to the dollar by the US government is paying 9.62%

This hurts every stable coin bigly.

Why should I invest in a stable coin pegged to the dollar unless it pays more than 9.62%

Note I bonds are available to US citizens. I see the I bond rate and inflation itself being created on purpose to attack crypto especially USD pegged stable coins.

https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds.htm

"Series I Savings Bonds

NEWS: The initial interest rate on new Series I savings bonds is 9.62 percent. You can buy I bonds at that rate through October 2022. Learn more.

KEY FACTS: I Bonds can be purchased through October 2022 at the current rate. That rate is applied to the 6 months after the purchase is made. For example, if you buy an I bond on July 1, 2022, the 9.62% would be applied through December 31, 2022. Interest is compounded semi-annually."

So this means all dollar pegged coins are fighting that interest rate.

I hold no stable coins and I do have I bonds

Roxx Blockchain

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USDC is my choice but I am sure most are ok. Only USDt has had some bad press in the past.

Gayong88

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Surely stablecoins can be trusted because people know that the token's value is consistently tied to the currency. People will buy and use these tokens if needed in their transactions, especially if they want to avoid the high volatility risks that come with other crypto assets. There are many types of stablecoins as you mentioned but the most important thing is fiat stability.

I think having faith in stablecoins depends on the question "Who are stablecoins used for?" If for speculation, will be vulnerable to market risk.

mich

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My most trusted Stable coin is Tether and USD coin. My portfolio is heavily weighed in BTC and I’m always looking to diversify. I consider these two to be the most trustworthy of them all.

My reasons for liking these tokens are they are some of the most traded in terms of daily volume and I see increased adoption for the foreseeable future. I think these two tokens offer the most upside potential for me but I’m holding long on both.

RussianEnglishTranslation

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I switched to MAI and MIM for stables and 0xMonero for mixing since Tornado cash is offline.

Renampun

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my choice is DAI and BUSD...

especially BUSD which belongs to the Binance exchange (one of the best and most popular crypto exchanges in the world), as long as I actively use both I have never encountered a problem and the fee required for transactions is also very small compared to other stable coins.

og kush420

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Quote from: cryptobadshah on August 10, 2022, 01:15:50 AM

There are differences between the various stablecoins. As the number of stablecoins increases it is important to have a solid understanding of the options that are the most practical and securely rooted based on market capitialization these are the top stablecoins available right now Theter USDT is the most well known stablecoin in the cryptocurrency industry and its name comes from the fact that its value is tethered to that of the US dollar It is backed by regular currencies as well as cash equivalents in addition to gold Tether is also well known for its easy integration with crypto to fiat platforms and its high level of security.

Obviously everyone who is in coins know which coin is best - but they might not get an idea - which coin is not good.
Have they had an idea - they might not have invested in LUNA. Hard luck comes uninvited and there is no escape from it.

Cryptornd

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decentralized Stable coins are better than centralized stable coins at all. furthermore there are some major decentralized stable coins which based on substrate are gonna change whole stable coins mechanism . ( ausd) stable coin provided by acala. you can find some details with the link i stick below. always keep your eye on Polkadot and it's ecosystem's coins and tokens.

https://acala.network/

panjay

sr. member

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well well well, looking at our condition, we all gonna chose USDT again, isn't it?

TUSD gone
USDC risk on sanction

or maybe we can choose BUSD with cz still backing it.

cryptobadshah

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There are differences between the various stablecoins. As the number of stablecoins increases it is important to have a solid understanding of the options that are the most practical and securely rooted based on market capitialization these are the top stablecoins available right now Theter USDT is the most well known stablecoin in the cryptocurrency industry and its name comes from the fact that its value is tethered to that of the US dollar It is backed by regular currencies as well as cash equivalents in addition to gold Tether is also well known for its easy integration with crypto to fiat platforms and its high level of security.

Farma

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Quote from: serjent05 on August 07, 2022, 07:09:29 PM

With the audit involved, I think the most trusted stablecoin would be USDC and BUSD. They had a documented record of audit that shows their stablecoin is full backed by $USD and it was proven that logarithmic stablecoin isn't that stable, just look at what happen to UST, and USDT had caught lying to us regarding their statement that they are fully backed up by USD.

well, I also think that BUSD has great trust, especially when they have a trusted CEO and team and a clear company, making trust in people grow. but still, of all of them, USDT has the most volume, and since the UST incident, I've been thinking about keeping coins stable in my wallet for too long. well, rather than stable coins, maybe I prefer Fiat, or other more popular coins like bitcoin or ethereum. but beyond that, I've only used USDT and BUSD so far for stable coin.

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