What stable coin are you into? | Bitcointalksearch.org

AbuBhakar

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Quote from: Tellek Garing on March 25, 2022, 04:04:53 PM

I don't do stable coins and if I most hold any stable coin then it must be Bitcoin I know Bitcoin is not a stable coin but then what is the need of holding a coin when it can't give you a good return.

A stable coin is not a good option for long-term holding but then I rather hold bitcoin because bitcoin has the viability of reaching a good price at any time just like what we are seeing presently in the bitcoin market.

There is no really point in holding any stable coins since their value will not increase however if we need to park some of our investments if ever the market isn’t in good condition then using stable coins like BUSD can help us to store it unless we believe in what we hold too much that somehow in the future even their at loss now they will still recover and sometime I prefer that way in some of my coins and converted only the altcoins I don’t trust much in USDT.

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Quote from: Muslimin mj on March 30, 2022, 12:35:13 PM

Quote from: Kalchef on March 13, 2022, 07:29:45 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 think BUSD is better than DAI, because I believe that Binance is the best right now, so Busd is my best choice over other stablecoins. and BUSD has better volume than DAI. BUSD is a product of Binance so that makes me sure for now to use BUSD as a repository of my assets in stablecoins. and BUSD has lower transaction fees than DAI.

BUSD is better in terms of stability. Its also has a bright future which means that, it's good to bagged as many as possible for long term. BUSD works with the dollar currency and it is centralized because it is owned by top exchange, Binance. It's definitely going to pump in the future, long term investment is the best. As for DAI, is decentralized currency and also a stable coin. It was built on the Ethereum network. Ethereum gas fees are extremely high when it comes to transactions. I prefer BUSD because it's gas fees is lower and it maintain the stability of the market value.

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Quote from: Kalchef on March 13, 2022, 07:29:45 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 think BUSD is better than DAI, because I believe that Binance is the best right now, so Busd is my best choice over other stablecoins. and BUSD has better volume than DAI. BUSD is a product of Binance so that makes me sure for now to use BUSD as a repository of my assets in stablecoins. and BUSD has lower transaction fees than DAI.

henmark

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There’s really nothing much, they are all good and it all goes down to what you decide to choose for yourself. The teen with BUSD is that it is owned by one of the biggest cryptocurrency exchanges which is Binance.com, and that has made it an attractive coin for most of the cryptocurrency investors and traders.

For the fact that it belongs to one of the biggest exchanges in the world, if not the biggest, a lot of people are more likely to consider it because they are trading on binance.com and would prefer to make use of a stable coin that belongs to the exchange so that they can get some perks that comes with it, like discounts on trading fees and other things like that.

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Quote from: Kalchef on March 13, 2022, 07:29:45 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?.

Definitely Dai.

It is decentralised so that is a huge plus for me. BUSD is simply too exposed to regulations changing or Binance collapsing for it to be trusted.

You can also look into UST, I think that people are flocking towards that more and more because of how much yield you can get on Anchor Protocol with UST, and how well it has held its peg throughout history.

Tellek Garing

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I don't do stable coins and if I most hold any stable coin then it must be Bitcoin I know Bitcoin is not a stable coin but then what is the need of holding a coin when it can't give you a good return.

A stable coin is not a good option for long-term holding but then I rather hold bitcoin because bitcoin has the viability of reaching a good price at any time just like what we are seeing presently in the bitcoin market.

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Quote from: Kalchef on March 13, 2022, 07:29:45 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?.

Personally I use USDT as stable coin. It is suitable for me and it has a lot of use case. Between BUSD and DAI, I will prefer BUSD as my choice because it has higher volume. Besides, BUSD is well known and gas fee is also low than the gas fee of DAI.

BIT-BENDER

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The only stable coin I use mostly is USDT, that's because it's pegged to the US dollars, many newbies would confuse stable as another Crypto-currency Investment, its mostly used to give your asset a less volatile value.

No to your question, I haven't used any other the two stable coin but they are popular though, I think the are closely match but as always I as a Crypto enthusiast would always prefer a decentralized coin to a centralized coin.

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Quote from: andyou1234 on March 24, 2022, 10:19:15 AM

So far I haven't had any problems using USDT and BUSD, because in my opinion these two stable coins are very universal so they are very easy to use and the costs are very low, besides that USDT and BUSD also have very high sales volume in the market, so I really believe that these two stable coins will be the best stable and can last a long time in crypto.

I am not debating about the popularity of these stable coins, especially USDT and BUSD, but i am not yet convinced with their transparency when it comes to escrowing the same amount of dollars in fiat before minting the tokens. It is hard to predict what the future holds for these stable coins but i will not trust them for the long haul but for the short term i am also using these trading pair and then move to fiat if holding for the long term.

bitgolden

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There are 3 that people mainly use, that is for sure. I get that USDC is getting a bit more attention these days. But that is mainly because Coinbase is used, and it is used mainly in one place, go in there and check, Binance itself provides more to it than Coinbase could, and if Binance one day says that USDC is the opponent and leaves, then USDC will be crashing hard. So for me, there are three that are unchallenged right now.

One is USDT, the other is BUSD, and the last is DAI. USDT because it is the first one and everyone uses that, BUSD because Binance covers most of the exchange world and could decide on what happens to stablecoins, and DAI because that is decentralized and people like that.

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Quote from: Lizzylove1 on March 24, 2022, 01:11:43 PM

I use BUSD, USDC, UST and USDT, I have less of USDT because of some news that created controversies in the past, but I think they are okay now without fear of been dealt with by the SEC.

For me, I make use of mostly BUSD, and that is because I am making use of the Binance exchange and that is the main exchange that I make use of whenever I want to trade cryptocurrency. But, I also think that DAI is a really good stable coin that I might consider in the future.

Although one thing is that they are all the same, they still the same coins paired to USD, they have the same function or feature to offer, the only difference is that some of them are decentralised while others are centralized. The reason why a lot of traders and investors would choose decentralized stable coins like DAI is because of the problems or challenges that centralized stable coins are likely to have with the SEC. So decentralized stablecoins are like a safer option.

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Quote from: Kalchef on March 13, 2022, 07:29:45 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 have any reason yet to use DAI but I have some BUSD in my wallet so in this case I prefer BUSD. But the stable coin I used most is USDT because it is acceptable in almost every exchanges and also multi-chain.

jossiel

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BUSD is centralized.

DAI is decentralized.

But there's more application and benefits upon using BUSD if you're inside Binance exchange and that's why many are using it because of reduction in fees.

And there could be many more features that it has that a trader can benefit from.

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Quote from: Kalchef on March 13, 2022, 07:29:45 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?.

DAI is a decentralized stablecoin. I definitely use DAI when I withdraw my money to my private wallet. Because it is safer. I always use BUSD when trading on Binance. Because the market maker fee in BUSD parity is 0. If you are a person who buys and sells a lot or if you are a day trader, this campaign is very good. It is very nice to encounter 0 fee when you review your trade history. :) In short, I love both, I use both. It changes according to my needs.

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Quote from: Lizzylove1 on March 24, 2022, 01:11:43 PM

I use BUSD, USDC, UST and USDT, I have less of USDT because of some news that created controversies in the past, but I think they are okay now without fear of been dealt with by the SEC.

There are many more options in the market now than usdt, so if you think using it might be risky for you then you can move to another stablecoin. There are various news items circulating in the market all the time which make ordinary investors panic. Everyone knows that USDT does not backed usd 100%, yet usdt is currently the most used in the market. However I still use USDT because it is easier to trade because usdt's market is big.

Lizzylove1

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I use BUSD, USDC, UST and USDT, I have less of USDT because of some news that created controversies in the past, but I think they are okay now without fear of been dealt with by the SEC.

andyou1234

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So far I haven't had any problems using USDT and BUSD, because in my opinion these two stable coins are very universal so they are very easy to use and the costs are very low, besides that USDT and BUSD also have very high sales volume in the market, so I really believe that these two stable coins will be the best stable and can last a long time in crypto.

kesmex

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the stable coins that I always use are BUSD and USDT,
there is no doubt that these two stable coins have been used by everyone in the crypto currency world,
especially since ETH Gas Fees went up everything turned to BUSD because of cheap transaction fees,

Adbitco

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Most at times, i used it for making payment from Binance to Binance and is very cheaper and smarter. i have not even traded any of my currencies to DAI other than BUSD and USDT.

bocyaj

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XRP was my favorite coin all the time. Because their will be huge flow in the XRP.Mainly the XRP need of verification to inverse in certain exchange.So their won’t be a decentralised and flow of the money in XRP huge.No whale will dominated the XRP as compared to other coin.The price of XRP will not increase huge or decrease huge.So your money safe on XRP.

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Quote from: Kalchef on March 13, 2022, 07:29:45 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, 02:45:46 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

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Quote from: Irazzzta on March 21, 2022, 03:34:54 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, 07:29:45 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

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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.

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Quote from: Kalchef on March 13, 2022, 07:29:45 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, 07:29:45 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.

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Quote from: marcous on March 20, 2022, 07:50:41 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, 07:29:45 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.

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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.

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Quote from: Kalchef on March 13, 2022, 07:29:45 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.

TastyChillySauce00

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My first choice will be BUSD, it's not caused by how decentralized the network used by BUSD but i still prefer to pick the stable coin or token based on what company behind the token. Whether the company can be trusted or not?So far binance was the biggest exchange site in the world and it has so many proper assets build on its ecosystem. Im not feeling worry to hodl BUSD for now. It's caused by i will try to always believe and use the stable tokens that issued by the most reputable party in the cryptocurrency.

el kaka22

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I like BUSD. It is supported by Binance and they have enough money to cover their BUSD two times over, which is why it looks like the most secure version right now. I believe that there is a good case to be made for it to go above USDT in the future as well.

People have been picking other stuff like BUSD or USDC over USDT recently and that is mainly because people like to prefer the ones that are backed by bigger companies. Tether is nothing, Bitfinex is nothing as well, whereas Coinbase and Binance are huge companies and that is why I believe that their stablecoin would be better in the future as well.

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Quote from: Kalchef on March 13, 2022, 07:29:45 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 of the coin want to track a stable value of the USD. Like you said one decentralised and the other one not. I don't own any of these two, the only stable coin I invested in the past is USDT. It's the biggest stable coin, for me it gives some additional security for being the market leader. Usually I prefer decentralised systems , but when it comes to stable coins centralisation might be better. So if I had to choose one of the two coins I would probably go with Busd, as it's also regulated by the government.

Davian144

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I often use centralized local exchanges, one of which is the Tokocrypto exchange, so I prefer to use the stable coin BUSD over DAI because BUSD makes it easier for me when I want to convert it into fiat money and by using BUSD I don't incur large transaction fees when I want to make transactions to other exchanges like with the Binance exchange.

Transactions from the tokocrypto exchange to the Binance exchange are also read as internal transactions so the fees will obviously be less and faster too and this can be considered a very good stablecoin choice, as it is not only easy for users, but also accessible to everyone because of the fees which is very cheap.

Tony116

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DAI gas fee is too high so I almost don't use it, I use USDT and BUSD so far. BUSD is a stable coin developed and used exclusively for transactions on Binance, if you are using Binance to trade then BUSD is a great option with low gas fees.
USDT is probably the most scandalous and risky stablecoin but now it is being used as the base trading pair of all coin pairs.

yazher

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Quote from: S3300 on March 14, 2022, 01:27:15 AM

I believe that DAI is running on erc20 smart contract and that makes things sucks because gas fee will be higher, I trust BUSD more because it's from Binance even if it's centralised we all know how reliable binance CEO is and also BUSD have the highest volume.

That's what I'm thinking too but the problem is when you hold it for so long and these things when being centralized have some kind of features where they can auto-lock all the BUSD right there but that's not gonna happen just a mere theory because there's no reason for them to do that anyway. You can choose it and convert it to bitcoin when you decided to hold it if again just don't rely on centralized coins because as we said, it has some issues.

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Quote from: Kalchef on March 13, 2022, 07:29:45 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?.

BUSD so far, because it is used in Binance mostly. Although it may not be found in some global exchanges.
However, in the global exchanges, I am still using USDT mostly. Although many people say that USDT is not safe and not recommended, so far, I am still using this for trading and also having no problem with this. However, I am not using it for holding, only for trading.

glendall

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I prefer BUSD over DAI, because for me BUSD has a higher volume of trading power every day and I can spend BUSD on any coin.

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there are many stable coins in cryptocurrencies, of course it will make beginners confused,
but don't worry, because here many have recommended stable coins that are good and of course safe,
I have 2 stable coins that I recommend, the first is BUSD and the second USDT.

fvb

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I prefer BUSD or USDC sometimes USDT. In general, the main thing is as a link to the transitional moment of buying any coin on many major exchanges. And to be honest, I’m just used to the BUSD coin and practically don’t use others.

Doell

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Depends, I wouldn't choose both if for hodl in the long terms. But if I want to trade I will probably use Busd. If in a market that supports Busd coin, because the fee is cheap and quite fast. If there is any other option other than these two then I wont use it either if its useless, honestly I don't hodl long too often any stable coin.

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Quote from: Kalchef on March 13, 2022, 07:29:45 PM

Between BUSD and DAI stable coin which one would you prefer and why?

I prefer BUSD over DAI, for me decentralized didn't matter a lot in my life. Decentralization is only playing a very important role when you wanna try to hodl your stable coin for long term but to be honest so many whales are also holding their BUSD and they are not facing the same problem like what happened with USDT. Both were safe but i prefer to pick BUSD over DAI.

Quote from: Kalchef on March 13, 2022, 07:29:45 PM

One is centralised and the other is decentralized is there anything else?.

That must not become the main concern. I will trust binance rather than DAI. This company has backed its BUSD with real money and it's fully backed by the dollar. It's also having very cheap transactions even in some exchange sites the fees was almost zero. There's no better stable coin than BUSD. The best stable coin so far.

XUR_TIP

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BUSD have Changpeng Zhao (binance CEO) it's obvious that people will trust BUSD more apart from it's cheaper transaction fee, BUSD belongs to the most trusted centralised crypto exchange and that's why I'm also on BUSD/Binance exchange train.

Marvell1

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DAI is more decentralized than BUSD but I am using BUSD more. BUSD has high trading volume and cheap transaction fees, BUSD is backed by Binance, the exchange with the largest user nowadays. even though it is a centralized stablecoin, i feel safe using it as i trust the reliability of binance and i have not had any problems using it.
And Iam also a regular trader on Binance, so BUSD is my favorite stable coin.

Crypt0Gore

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BUSD is the better choice because it's from a top crypto exchange called binance, since this exchange cane into play the teams have proven to be different, they are responsible for fixing ETH high gas with BNB smart chain too yes I trust them even more than DAI ( a decentralized stable coin ).

danherbias07

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Most of the time using Binance so I am biased here with BUSD. Haven't checked DAI yet as I was comfortable with the old one.
I think this depends individually on where they are or what exchange they use specifically. If you are in Binance why would you go far in using other stable coins rather than their own? It also avoids confusion. While if you are in a different exchange, that's when you are supposed to look for other options.
BUSD it is.

bitbollo

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I am not a great supporter of stable coins despite there are some cases these are really useful.
Inside exchange I use for "short terms" USDT because it's widely accepted, and I can move with other exchanges/wallets .

Storage outside exchange (my keys), I am using xdai due the lower tx fees and easy app to use it.
https://coinmarketcap.com/it/currencies/xdaistable/
This stable coin has been used also by Austrian Crypto Stamp shops https://crypto.post.at/

budz0425

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Quote from: Kalchef on March 13, 2022, 07:29:45 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?.

Personally, when using CEX I always choose BUSD, when DEX USDT.
Compare to trading fee in Binance BUSD is lesser than USDT

batang_bitcoin

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Quote from: Kalchef on March 13, 2022, 07:29:45 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?.

If I'm trading in Binance, obviously, I'll choose BUSD.
But if I'm going to retain my wealth in stable coins, I'll choose DAI and that's for sure. If it's about the concern of fee because of DAI's running through Ethereum's smart contract and it is an ERC20 token, it's starting to drop these days. I've been checking it at all times and for the past week, I can say that it have really been cheaper unlike the past months.

S3300

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I believe that DAI is running on erc20 smart contract and that makes things sucks because gas fee will be higher, I trust BUSD more because it's from Binance even if it's centralised we all know how reliable binance CEO is and also BUSD have the highest volume.

AbuBhakar

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Quote from: Kalchef on March 13, 2022, 07:29:45 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 will go for BUSD do to its convenient feature such as high volume and cheap transaction fee. Centralized problem is not a big issue anymore since Binance is the biggest exchange in crypto right now so the chance if being scam or rug is very unlikely to happened ATM. USDT is being accused a lot of allegations and they are proven doing shady things since it was created on 2014 but where they are right now? Still operating and the strongest stable coin in the market until now. Wink

noorman0

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It depends on your needs. Since DAI is more widely accepted across centralized services, I would prefer DAI if I want to store in my personal wallet and trade a lot on global exchanges. BUSD is not very comprehensively used other than Binance itself, BUSD is only supported by Binance partners.

I personally don't keep both in my personal wallet, almost never.

cryptoaddictchie

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Quote from: Kalchef on March 13, 2022, 07:29:45 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?.

Im using binance so I am using much of busd instead of dai. But on dex I think you can use usdt and usdc for much bigger volume. For centralized busd is good, cause its from binance and I like the no fee inccured during trading orders and setting orders. For dex, I am more keen on using usdc but dai also on some of my used dex. Anyway both are good.

BitMaxz

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Based on rankings BUSD is a much higher volume than DAI and the bad thing about DAI is you will pay a high gas fee compared to BUSD.
Also, BUSD has more liquidity than DAI.

So for me, I choose BUSD but the only problem is yes it's centralized, unlike DAI. As of now, I don't see any issue with using BUSD unless you want to hold them for a long time but if you are planning to hold it for a long time then DAI would be the best but take note of gas fees in the future and stable coins are not good to hold for long term or as a store of value, unlike other coins.

Kalchef

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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?.

Topic: What stable coin are you into? (Read 460 times)