What stable coin are you into? - page 2.

TelolettOm

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Quote from: Kalchef on March 13, 2022, 06:29:45 PM

Between BUSD and DAI stable coin which one would you prefer and why? One is centralised and the other is decentralized is there anything else?.

Should choose between these two?
Actually, it's rare to use them. But sometimes, BUSD is used moreover when using Binance or their partner, some pairs are available only in this stable coin.
Both BUSD and DAI have different sides of positive and negative. We can at least consider what is best for us in trading pairs. However, if this is about keeping for long-term holding, I will prefer BUSD because this is from Binance. However, so far, I am using USDT to do most trading pairs because this is more general and used in some exchanges

Quote from: jaberwock on March 21, 2022, 01:45:46 PM

But, I think usdt tether is also an erc20? BUSD is from the makers of binance so no doubt that the fees of this coin are cheap compare to other stable coins. I haven't tried to use dai yet but I am seeing a great demand for this coin.

Yes, USDT is actually based on Ethereum.
But, USDT is now also available in some networks such as BSC and also Tron network as the most affordable networks available to send USDT at lower fees. Using the networks will save enough the fees compared with using Ethereum network or Omni

imamusma

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Quote from: Irazzzta on March 21, 2022, 02:34:54 PM

I prefer to use BUSD for stable coins, for stable coin values it's the same. the only difference is the transaction fees, because they have different blockchain developers. For now, I think users will prefer stable coins with low transaction fees like BUSD

For stablecoins like BUSD, it can't be denied because it can even be sent without incurring the slightest fee if the transaction is within the BSC network or internally.
I've done this on several different exchanges and I haven't seen any discounted fees at that time.

timerland

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Quote from: Kalchef on March 13, 2022, 06:29:45 PM

Between BUSD and DAI stable coin which one would you prefer and why? One is centralised and the other is decentralized is there anything else?.

Probably DAI.

I personally am not comfortable in putting money in any centralized stablecoins on a large scale. Perhaps a few hundred dollars woudl be fine, but definitely nothing major.

DAI on the other hand is over-collateralized with some really high quality collateral and algorithmically controlled, which I think serves a lot better for the process of decentralization of control. But stablecoins in general is not a category of coins where I would put my long term wealth in.

Irazzzta

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I prefer to use BUSD for stable coins, for stable coin values it's the same. the only difference is the transaction fees, because they have different blockchain developers. For now, I think users will prefer stable coins with low transaction fees like BUSD

jaberwock

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I have never used the DAI stablecoin. The DAI stablecoin runs on the Ethereum ERC-20 network, the fees will be expensive of course. That's why I never use DAI, I prefer to use BUSD or USDT which tends to cost less in every transaction.

But, I think usdt tether is also an erc20? BUSD is from the makers of binance so no doubt that the fees of this coin are cheap compare to other stable coins. I haven't tried to use dai yet but I am seeing a great demand for this coin.

Even if the fees in eth is still high, there are still lots of people that did not care but they still use ethereum products including usdt and the eth coin itself. I think all of those users are rich and they think that when someone sees them using an expensive coin, it makes them more proud to themselves to think they are too powerful (rich). Dai is decentralized but nowadays people didn't really care about it. Most people now use centralized services, from exchanges to cryptos.

Tahsin Kabir Kollol

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Since I use Binance Exchanger, so I use Busd stable coins. Moreover, in comparison, there are many advantages of using Busd as compared to DAI. BUSD has a high volume and cheap transaction fees. DAI transactions fee, on the other hand, are relatively high. However, both stable currencies have their own characteristics and advantages to their users.

mzuhry19

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Of course among that I chose BUSD, because I use BUSD more often than DAI and I know that many projects accept BUSD payers instead of DAI, that's why I prefer BUSD

YuleDoris

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lenovop-70

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I prefer BUSD, it is more stable because the amount of liquidity is higher than DAI, also the fee from BUSD is cheaper, most markets also have a pair for BUSD, so yes I like BUSD as my capital for daily buying-selling in the market.
So as long as it's centralized, BUSD is still my favourite.

pawanjain

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Even I wanted to know which stable coin people are using these days. It seems BUSD is in the limelight here.
So far people have been using USDT but since the recent allegations against it many have turned to USDC.
Since many people here are binance users they tend to use BUSD. Can someone tell me what are the benefits of using BUSD over USDC.

asyakashi

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Quote from: Kalchef on March 13, 2022, 06:29:45 PM

Between BUSD and DAI stable coin which one would you prefer and why? One is centralised and the other is decentralized is there anything else?.

Both are equally stable coins, sometimes I am confused about how the benefits of the two differ because they are both shown to be stable coins.
But, if asked which one is the best, I will choose USDT because so far USDT is the most popular and trustworthy one.
I know DAI is good and the system is also decentralized, the problem is that DAI is less popular in my opinion, I don't know for sure what the reason is, but maybe DAI can be an alternative if USDT is in trouble.

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Quote from: Kalchef on March 13, 2022, 06:29:45 PM

Between BUSD and DAI stable coin which one would you prefer and why? One is centralised and the other is decentralized is there anything else?.

I would prefer to use a centralized one, I have bad experiences about the decentralized one, but this is just the time when I transact small amount of money. Anyways I could not hide my identity, because of AML protocols so the thing is even I want a decentralized coin, my options are limited. So I will just go for a centralized stable coin. These days you can't really do what you want because of these regulations. Not unless my country fully accepts crypto payments and disregard the use of fiat, but that won't be happening so I will just try to live with it.

lombok

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Quote from: marcous on March 20, 2022, 06:50:41 AM

Quote from: ?? on ??

I have never used the DAI stablecoin. The DAI stablecoin runs on the Ethereum ERC-20 network, the fees will be expensive of course. That's why I never use DAI, I prefer to use BUSD or USDT which tends to cost less in every transaction.

Looks like you don't know DAI very well because at this point there are already many networks for DAI besides ERC-20 and you can immediately check coinmarketcap to see them though I will give a little screenshot of this which I took from coinmarketcap as well.

^{Image Source: https://coinmarketcap.com/currencies/multi-collateral-dai/}

That's right @marcous, I've never used DAI and I didn't find out more about DAI. I only know information that I read before when the DAI stablecoin appeared, that DAI uses the ERC-20 network and does not update new information regarding it. Thank you for providing useful information.

But I'm already comfortable using BUSD and USDT. Pairs in trading also mostly use USDT and BUSD than DAI pairs, which are still few pairs of choices in trading.

marcous

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Quote from: ?? on ??

I have never used the DAI stablecoin. The DAI stablecoin runs on the Ethereum ERC-20 network, the fees will be expensive of course. That's why I never use DAI, I prefer to use BUSD or USDT which tends to cost less in every transaction.

Looks like you don't know DAI very well because at this point there are already many networks for DAI besides ERC-20 and you can immediately check coinmarketcap to see them though I will give a little screenshot of this which I took from coinmarketcap as well.

^{Image Source: https://coinmarketcap.com/currencies/multi-collateral-dai/}

Davian144

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the same thing I did, busd became an option to accommodate our assets on stable coins. on the other hand busd is under the largest exchange, so it is reliable to be an option. but I myself actually trust usdt more as a stable coin, because usdt has the largest market cap between the two, so in general more people place their assets here

Actually both are good to choose because each has certain advantages such as BUSD which is almost free when sent to the BSC wallet or the Binance exchange because it is considered an internal transaction between the BSC network and this is certainly different from USDT which may have to provide a little transaction fees to send it to a specific wallet with a specific network.

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Quote from: Kalchef on March 13, 2022, 06:29:45 PM

Between BUSD and DAI stable coin which one would you prefer and why? One is centralised and the other is decentralized is there anything else?.

I don't understand why DAI is less attractive even though the concept is very interesting because the decentralization of the coin is stable.
But, because so far I myself use USDT more often than DAI.
The reason is that USDT is quite popular and the high level of public trust makes me believe in USDT.
In addition, USDT has a diverse network that is different from DAI which is only on the ERC20 network.

BioFrog

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Between the two i also prefer busd which has much more capitalization and lower fees in transfers, but my absolute favorite stable is usdt on blockchain tron where the fees are really low

GreatArkansas

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For me, I am more into USDT, USDC. Especially on the Solana ecosystem, I am more exposed to USDC, on other chains, USDT.
Especially on some exchanges, USDT is more popular.

There are already a lot of stablecoins right now, I am also introduced to new stablecoin on the Luna ecosystem, which is UST.

zasad@

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I always tried to use DAI and other stablecoins (USDT, USDC) and exchanged for TerraUSD (UST)
https://www.coingecko.com/en/coins/terra-usd
This is another large decentralized stablecoin that is not subject to blocking.

Cross-chain Bridge Aggregators
https://bitcointalksearch.org/topic/cross-chain-bridge-aggregators-5389259

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Quote from: Kalchef on March 13, 2022, 06:29:45 PM

Between BUSD and DAI stable coin which one would you prefer and why? One is centralised and the other is decentralized is there anything else?.

It is the decentralization of DAI that is the main difference from the centralized BUSD, all other differences are insignificant. You should understand that your savings stored in centralized stablecoins may cease to be yours under certain circumstances.

Topic: What stable coin are you into? - page 2. (Read 488 times)