What stable coin do you advise when market is against us?

JeffBrad12

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Quote from: tvplus006 on January 01, 2025, 03:56:08 PM

Quote from: Salahmu on January 01, 2025, 03:55:52 AM

... because on the exchanges USDT prices is mostly higher than USDC, for instance the Bitcoin price now is $93,421 plus in USDT price but in USDC is $93,243 plus, I believe this is what made USDT more important than the rest

You are making a wrong conclusion. This difference in the price of the coin in relation to USDC and USDT is due to the fact that the value of USDC is currently higher than the price of USDT. Accordingly, if the value of USDT is higher relative to the price of USDC, then the price of BTC in relation to these stablecoins will be the opposite of the situation described by you.

exactly this, for some reason, despite the promise of 1:1 peg offered by these stables, most of their value differ to each other, FDUSD is valued lesser than USDT, meanwhile right now USDT is valued lesser than USDC albeit not so much, but it shows that this small difference reflects the amount of trust people put into these stables, because recent news about USDT banning in EU, USDT has lost some small percentage of its value.

this difference also reflects on USDC and USDT pair to alts, so it's completely normal. but just feels kinda strange, aren't they supposed to be $1 Grin

. maybe just some liquidity problems i guess.

TastyChillySauce00

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the one that got the real thing backing up the stable coin with proper audit, some stablecoin like USDe also interesting if you know how it works theoretically it can retain its value, but decentralized stables in general are using delta hedge strategy where they open short position equal to amount of the asset they hold to retain neutral delta and theoretically they are fool proof but we don't know for sure until somehow that didn't work.

I always put my money 50% in USDC and the other scattered across USDT, DAI, USDe, and USD0. sometime converted my USDC as well to USDT because of trading pair but so far I feel comfortable with this strategy, the thing is, you just don't know which stablecoin gonna fail.

maydna

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Quote from: BALIK on January 01, 2025, 07:44:47 AM

Quote from: maydna on January 01, 2025, 05:35:47 AM

~snip~

Many people are worried about USDT being banned in the EU because of the Mica law but if you are not an EU citizen then you don't need to worry about it. We need to know that USDT has chosen not to comply with EU Mica law and as far as I know, they have chosen to leave the EU market because this will affect Tether's net profit, not because they are not qualified or banned for lack of transparency or any serious reason. So this news is not alarming and there is no need to worry.

To be fair, USDT is still the best stablecoin on the market as it has the largest market cap as well as the longest history.

But for some people, they are worry if that banned can touch other countries and the government will do the same thing. Hopefully there is nothing bad happen with that news so we can use USDT without worry.

I also thinks as you because so far I use USDT and don't have a problem at all. So it is sad if EU banned USDT for their citizen. But EU citizen can still use the other stablecoins to continue their transaction.

Cookdata

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Quote from: Perfectbaby on December 29, 2024, 05:58:20 AM

Please why would you chose any of these coin to reserved your funds when the market seems to be waving?
Let discuss

It's good to see USDT is finally given some stablecoins a way to get more liquidity and feel the impact of the market but it's going to be a big slap on everyone face if they fail in the end, there has been a lot of campaigns against USDT despite knowing that other ones that are wanting the same position aren't better than usdt, even if I'm ever going to use a stablecoin, it's going to be Dai, it's back by ethereum foundation and Maker Dao, in years you don't have to worry about the price.

My second best will be USDC, it would have been Busd, that's a stablecoin developed by Binance but they did the same thing and made sure that coin is out of the crypto market, so I will go for USDC since it's supported by the US market, it's likely to experience what Tether is experiencing right now, circle has that connection and money to continue to make their market excel worldwide.

_act_

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Quote from: tvplus006 on January 01, 2025, 03:56:08 PM

Quote from: Salahmu on January 01, 2025, 03:55:52 AM

... because on the exchanges USDT prices is mostly higher than USDC, for instance the Bitcoin price now is $93,421 plus in USDT price but in USDC is $93,243 plus, I believe this is what made USDT more important than the rest

You are making a wrong conclusion. This difference in the price of the coin in relation to USDC and USDT is due to the fact that the value of USDC is currently higher than the price of USDT. Accordingly, if the value of USDT is higher relative to the price of USDC, then the price of BTC in relation to these stablecoins will be the opposite of the situation described by you.

This is right. What makes USDT better is because it is more liquid and it has more coins it is paired with. But the way exchanges do it, the liquidity is not an issue with other stable coins. The coins that are paired on reputable exchanges with other coins also have reasonable liquidity also. As for the price differences, it is nothing to be worried about at all.

tvplus006

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Quote from: Salahmu on January 01, 2025, 03:55:52 AM

... because on the exchanges USDT prices is mostly higher than USDC, for instance the Bitcoin price now is $93,421 plus in USDT price but in USDC is $93,243 plus, I believe this is what made USDT more important than the rest

You are making a wrong conclusion. This difference in the price of the coin in relation to USDC and USDT is due to the fact that the value of USDC is currently higher than the price of USDT. Accordingly, if the value of USDT is higher relative to the price of USDC, then the price of BTC in relation to these stablecoins will be the opposite of the situation described by you.

Faisal2202

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Quote from: Perfectbaby on December 29, 2024, 05:58:20 AM

I have been mean to asked this before, though it's not really late anyway.
What stable coin do you advised when the market seems to be dip, let say for example; when the market were around $108k and you observed that the market is falling lower than expected, you decided to take quick profits by selling your coin @ $107k and after which, which of the stable coin do you prefer selling to that is more trusted and reliable than rest stablecoin out there?

USD
USDC
USDT
DAI

Please why would you chose any of these coin to reserved your funds when the market seems to be waving?
Let discuss

I have used USDT till now but I think after the EU delisting of USDT we might see delisting of USDT in Asian and Middle East countries as well so to avoid jeopardizing our long-term stable holdings in USDT we must use alternatives like USDC or Dai. As far as I have seen, USDC is very volatile, like USDT is not that volatile, although the past tells otherwise but I am talking specifically about the present.

I don't have that much funds so maybe I don't mind changing them into USDT but if you care that much I suggest diversify your stable holdings as well into different stable currencies. It is also a best practice to avoid lose overall USDT have the power to seize funds even if we have kept them in a non-custodial wallet so I don't think that's good for anyone except it's bad for hackers and good for all of us.

tbct_mt2

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Quote from: hugeblack on December 31, 2024, 12:33:47 PM

I don't think there is a stablecoin called USD. Comparing USDC/USDT/DAI, we will notice that two of these stablecoins are linked, which are USDC and DAI. USDT is less reliable than both of them, and it may be banned in the European Union, but its access to liquidity is greater and the number of trading pairs is greater. Personally, I would prefer DAI by 50% USDC by 30% USDT by 20 and I will ignore any stablecoin, in addition to ignoring any stablecoin as a long-term investment.

USDC can flip USDT in future if Tether won't change and comply with government regulations. I believe that Tether will comply with regulations, and they will not lose a first position to USDC easily.

USDT, USDC and DAI are best stable coins but don't store your asset in stable coins for a long time. It is very risky and more dangerous with algorithmic stable coins like Terra UST or Tron stable coin.

Avoid these following stable coins.
https://crypto.com/price/categories/algorithmic-stablecoins

Woodie

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I haven't taken a keen interest on how much stable coins behave of late when it comes to trading, but if we are to equate them to Forex assets like the Euro or Dollar these are by nature less volatile and some traders like this as they are predictable in movement.. so from this I would go for Usdt as asset to trade because it has the liquidity to push price around, and best platforms to trade these would be Rollin for some leveraged trading and more $$$

Perfectbaby

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Quote from: shield132 on January 01, 2025, 08:53:30 AM

Quote from: Perfectbaby on December 29, 2024, 05:58:20 AM

~Snip~

Btw what happened to USDT in Europe really made me worried and yesterday, I bought Bitcoin immediately instead of converting USDT into any other coin. I was afraid that USDT would get liquidated because of this ban but it's doing well today as I see on Binance. Btw I also plan to experiment with trading Bitcoin/Eth pairs because in the end, both of these coins are rising and I'll prioritize to hold as much Bitcoin or Eth as possible, any of them.

It's just a choice in my opinion because lot of people who trades on BTCETH does that because market is at a fast rising lane and they would want to make much profits from it, but when the market seems to be bearish or in a way they can't hold back their BTC or ETH they can decides to take quick profits they would definitely chose any of these stable coin mentioned above, that is why I asked but from your answers you were very open on the currency to hold. Anyway, I am not against of these stable coins but what I am mostly concerned is about the security of coin, and of course DAI can be used to hold for long but most of exchange are not allowing trading btw DAI to other coin, since is a privacy coin.

shield132

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Quote from: Perfectbaby on December 29, 2024, 05:58:20 AM

I have been mean to asked this before, though it's not really late anyway.
What stable coin do you advised when the market seems to be dip, let say for example; when the market were around $108k and you observed that the market is falling lower than expected, you decided to take quick profits by selling your coin @ $107k and after which, which of the stable coin do you prefer selling to that is more trusted and reliable than rest stablecoin out there?

USD
USDC
USDT
DAI

Please why would you chose any of these coin to reserved your funds when the market seems to be waving?
Let discuss

I think that the safest option for those who want to trade cryptos with fiat pairs is to trade on Coinbase because Coinbase offers Crypto/USD pairs. Btw if I was forced to use stablecoin, I'd use USDC or DAI but I think I'd stick with USDC on my exchange because most exchanges will offer high liquidity on USDC instead of DAI but if I were to hold them on a wallet, I'd hold DAI because DAI is decentralized and transparent, USDC is good too but the address can be blacklisted.

Btw what happened to USDT in Europe really made me worried and yesterday, I bought Bitcoin immediately instead of converting USDT into any other coin. I was afraid that USDT would get liquidated because of this ban but it's doing well today as I see on Binance. Btw I also plan to experiment with trading Bitcoin/Eth pairs because in the end, both of these coins are rising and I'll prioritize to hold as much Bitcoin or Eth as possible, any of them.

BALIK

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Quote from: maydna on January 01, 2025, 05:35:47 AM

But we have another problem now that USDT is banned in the EU region.

Many people are worried about USDT being banned in the EU because of the Mica law but if you are not an EU citizen then you don't need to worry about it. We need to know that USDT has chosen not to comply with EU Mica law and as far as I know, they have chosen to leave the EU market because this will affect Tether's net profit, not because they are not qualified or banned for lack of transparency or any serious reason. So this news is not alarming and there is no need to worry.

To be fair, USDT is still the best stablecoin on the market as it has the largest market cap as well as the longest history.

maydna

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Perhaps USDC for my first option and then DAI. I don't know but I guess that could be a good for this time. Lastly, I hold USDT and still use it till now but I am thinking much about moving it into USDC and DAI but I will research first to find which wallet that I can use and thinks that is safe.

We have a choice to use Bitcoin as reserved our funds but reminds that Bitcoin price is unstable, the stablecoins will be better. But we have another problem now that USDT is banned in the EU region.

Salahmu

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Quote from: Perfectbaby on December 29, 2024, 05:58:20 AM

which of the stable coin do you prefer selling to that is more trusted and reliable than rest stablecoin out there?

USD
USDC
USDT
DAI

Please why would you chose any of these coin to reserved your funds when the market seems to be waving?
Let discuss

The four stable coins are all good but going by highest preferred I think USDT is the highest because all the people I no always use USDT on there pairs I don't no if the reason is based of the worth because on the exchanges USDT prices is mostly higher than USDC, for instance the Bitcoin price now is $93,421 plus in USDT price but in USDC is $93,243 plus, I believe this is what made USDT more important than the rest, while DAI is also slightly lower than USDC but however I think USD shouldn't have been among them because in exchanges it doesn't have a pair with Bitcoin.

Perfectbaby

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Quote from: hugeblack on December 31, 2024, 12:33:47 PM

I don't think there is a stablecoin called USD. Comparing USDC/USDT/DAI, we will notice that two of these stablecoins are linked, which are USDC and DAI. USDT is less reliable than both of them, and it may be banned in the European Union, but its access to liquidity is greater and the number of trading pairs is greater. Personally, I would prefer DAI by 50% USDC by 30% USDT by 20 and I will ignore any stablecoin, in addition to ignoring any stablecoin as a long-term investment.

Thank you for your clarification, though was referring to what happened to Terra UST. Reading through this topic I have to understand that USD is united state dollars which is more like fiat which the currency doesn't appreciate or depreciate in value. Wherefore some other stable coin are tied to it but it doesn't directly connotes to be a stablecoin instead it's a fiat that is being tied to. However, I still prefer selling my currency to USD as fiat to secure my profits unlike usdt, even if usdt seems to have higher trading volume. Of course DAI decentralized stable coin which is more secure and trusted than other stable coin out there.

Franctoshi

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Quote from: Perfectbaby on December 29, 2024, 05:58:20 AM

I have been mean to asked this before, though it's not really late anyway.
What stable coin do you advised when the market seems to be dip, let say for example; when the market were around $108k and you observed that the market is falling lower than expected, you decided to take quick profits by selling your coin @ $107k and after which, which of the stable coin do you prefer selling to that is more trusted and reliable than rest stablecoin out there?

USD
USDC
USDT
DAI

Please why would you chose any of these coin to reserved your funds when the market seems to be waving?
Let discuss

All above listed Stablecoin are pegged in 1:1 ratio to the United States dollars, whereas USDT has been the most popular stablecoin out there. However, it isn't the most reliable stablecoin because there is no proof of reserve in the ratio of 1:1. Lately, the European countries are beginning to ban USDT, and it isn't safe anymore store or convert your funds as there are chances of it to depeg.
For me, USDC seems better to store your funds when you want to option into stablecoin.

hugeblack

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I don't think there is a stablecoin called USD. Comparing USDC/USDT/DAI, we will notice that two of these stablecoins are linked, which are USDC and DAI. USDT is less reliable than both of them, and it may be banned in the European Union, but its access to liquidity is greater and the number of trading pairs is greater. Personally, I would prefer DAI by 50% USDC by 30% USDT by 20 and I will ignore any stablecoin, in addition to ignoring any stablecoin as a long-term investment.

JunaidAzizi

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In my view, both USDC and USDT are the best options for situations like selling your BTC when the price goes down. USDC is backed by the US dollar and has greater reserves, which show trustworthiness and is also accepted worldwide. USDT is also a good option and has a greater market capitalization, but in terms of trust, you should be aware that USDT faces some challenges related to its transparency and audits. I personally use USDT, and I have never faced anything suspicious that would make me choose otherwise. You have to choose one, it's not mandatory because other stablecoins are also good enough. However, if you are very conscious about trust and security, then I would recommend USDC. But before going to it, DYOR

tbct_mt2

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Quote from: Perfectbaby on December 29, 2024, 05:58:20 AM

USD
USDC
USDT
DAI

Please why would you chose any of these coin to reserved your funds when the market seems to be waving?
Let discuss

USDC and DAI are my choices because USDC is accepted by governments now especially in Europe. DAI is chosen by its decentralization.

Stable coins cqn depeg but risk is more, your stable coins in your own wallet can be frozen.
PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets

Potato Chips

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I tend to pick USDT as I think it's the most liquid for BTC as well as other cryptos with the exchanges I'm using. In addition, in case I wanna move, my go-to exchanges always support chains I tend to have couple of $ for fees-- and it's cheap.

I wouldn't hold these stable coins for long term though as I wouldn't feel safe. I'd just hold the fiat if I wanna do USD.

Topic: What stable coin do you advise when market is against us? (Read 319 times)