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

pawanjain

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Quote from: Iranus on January 19, 2025, 09:42:20 AM

Quote from: pawanjain on January 19, 2025, 06:00:23 AM

Out of all the options above, I would choose USDC as USDT has some serious issues in their reserve audit reports.
DAI can be used as a back up option too and we can also diversify between USDC and DAI to minimize the risk.

Can you explain more clearly and better if there is specific evidence? Because as far as I know, Fuds about USDT have been circulating for years and many news said that their reserve report is not transparent, clear...But to date, they are the largest and most used stablecoin on the market. Even the news that they will leave the European market because of their refusal to comply with the Mica law has not diminished people's confidence in them.

I don't compare which stable coin is better because for me they are almost the same and which coin to use depends on each person's preference. But I don't think USDT is having problems like those rumors.

https://cryptoslate.com/tethers-usdt-hits-75-market-share-amid-record-exchange-balances/

The thing is that Tether has never been transparent in their audit reports.
Althgouh they claim that every USDT is backed by their reserves in 1:1 ration but they never went through any professional auditing firm.
So the chances that they are hiding something increases. If they were really backing all of their supply with 1:1 reserves then they should have had an accurate audit report as well right ?

nimogsm

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Quote from: alastantiger on January 21, 2025, 01:42:57 PM

Quote from: nimogsm on January 21, 2025, 12:12:19 PM

USDT is by far the best option for me, since it works on different blockchains, it is universal and works everywhere. It so happened that I practically did not use other types, since there was simply no need for it. And even despite the latest news about the desire of European authorities to control it, I do not think that this will affect anything.Such news appears once a year and nothing has happened for many years, so at this stage I am confident in the reliability of USDT.

USDT isn't the only stablecoin that has availability on all Blockchain. What makes USDT stand out is because it's the most traded stablecoin and has alot of liquidity despite all the challenges that it has being facing. USDT always get attacked by the federal government but they have failed to take it down although this recent attack was somehow successful because some exchange has delisted USDT which gives the other stablecoin the opportunity to get use by traders. I used to sell my tokens to USDT because it's only popular and not because it's the best stablecoin to use. USDT is very centralized more than other stablecoin although most of them are still centralized unless you're using the decentralized ones which aren't that popular and doesn't have enough liquidity.

I know that it is completely centralized and any suspicious transaction can be frozen. But this is something that scammers or those who hold large amounts of money should worry about. I don't belong to these two types, so I continue to use it and don't feel any discomfort. It's good that today there is a lot to choose from and everyone can choose what suits them best, everything suits their needs.

alastantiger

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Quote from: nimogsm on January 21, 2025, 12:12:19 PM

USDT is by far the best option for me, since it works on different blockchains, it is universal and works everywhere. It so happened that I practically did not use other types, since there was simply no need for it. And even despite the latest news about the desire of European authorities to control it, I do not think that this will affect anything.Such news appears once a year and nothing has happened for many years, so at this stage I am confident in the reliability of USDT.

USDT isn't the only stablecoin that has availability on all Blockchain. What makes USDT stand out is because it's the most traded stablecoin and has alot of liquidity despite all the challenges that it has being facing. USDT always get attacked by the federal government but they have failed to take it down although this recent attack was somehow successful because some exchange has delisted USDT which gives the other stablecoin the opportunity to get use by traders. I used to sell my tokens to USDT because it's only popular and not because it's the best stablecoin to use. USDT is very centralized more than other stablecoin although most of them are still centralized unless you're using the decentralized ones which aren't that popular and doesn't have enough liquidity.

nimogsm

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USDT is by far the best option for me, since it works on different blockchains, it is universal and works everywhere. It so happened that I practically did not use other types, since there was simply no need for it. And even despite the latest news about the desire of European authorities to control it, I do not think that this will affect anything.Such news appears once a year and nothing has happened for many years, so at this stage I am confident in the reliability of USDT.

Synchronice

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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

That's a very good question and the answer depends on your style. If you are risky user and leave your funds on exchange, then your best bet is to save your money in USDC because USDC has the most trading pairs and highest liquidation next to USDT. USDT has the highest liquidation and most pairs but it's banned in Europe and it's also one of the most dangerous altcoins because it's not really backed up, I'm afraid it will end up like TerraUSD.
So, if you are an active trader and leave your funds on exchange because you frequently trade, then keep USDC (keep in mind that if you withdraw USDC on wallet, they'll be able to freeze your USDCs because this coin is centralized).

If you want to withdraw your stable coin and be sure that nothing bad will happen to it, even if the court orders to freeze your money, then keep your money in DAI.

fikrett

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Quote from: Sanitough on January 20, 2025, 10:10:59 AM

Quote from: Z_MBFM on January 20, 2025, 08:37:21 AM

Both USDT and USDC coins are quite good and top stable coins in the market. So I always recommend these two and I use USDT the most. Although there are many criticisms of USDT, I think it will never crash. Since the crash of UST many people have doubts about stable coins so if there is any doubt about stable coins then there is no option to hold fiat currency but in this case too there is fear of inflation. So risk will be everywhere, we have to do money management by accepting that risk

USDT gains a huge number of recommendations, and probably this is because it is the most trusted one. Might some choose this because it was only available in the exchange? But, whatever the reason they have, importantly, we choose a coin to trade that can really give us satisfying results.

That is why I don't think there is a need to argue which one of them is the best because, in reality, they are all stable coins. We make a choice depending on what we think is right and applicable.

If USDT would fall, what would happen to rest?
That's what I think of those who are skeptical of it due to its nature and story.
And everybody chooses what suits them best, but personally, every platform has USDT as the most go-around option for deals / etc.

justdimin

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Quote from: Sanitough on January 20, 2025, 10:10:59 AM

Quote from: Z_MBFM on January 20, 2025, 08:37:21 AM

Both USDT and USDC coins are quite good and top stable coins in the market. So I always recommend these two and I use USDT the most. Although there are many criticisms of USDT, I think it will never crash. Since the crash of UST many people have doubts about stable coins so if there is any doubt about stable coins then there is no option to hold fiat currency but in this case too there is fear of inflation. So risk will be everywhere, we have to do money management by accepting that risk

USDT gains a huge number of recommendations, and probably this is because it is the most trusted one. Might some choose this because it was only available in the exchange? But, whatever the reason they have, importantly, we choose a coin to trade that can really give us satisfying results.

That is why I don't think there is a need to argue which one of them is the best because, in reality, they are all stable coins. We make a choice depending on what we think is right and applicable.

Yeah, we just use it based on ease, like USDT is the easiest one of them to use, but if all exchanges we use suddenly stopped using it, and then suddenly USDC becomes the most prominent one, nobody would care, there isn't really anything that makes it better than the other and so forth, we just don't care about that part, it is not really the case for us.

The only thing we care about is the fact that there is a USD product there, as long as there is one, we could make our trades based on that and it would give a good return, it is not a bad way to deal with this and should be considered a trading benefit for us, it allows us to make more money using it as well. Imagine if there were no fiat, just getting in and out used fiat but nothing else did, it would have made things a little harder. Back in the day, before USDT, before stablecoins, I was here when that was the case, it wasn't really as easy as it is right now, so it's an important deal.

Perfectbaby

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Quote from: Z_MBFM on January 20, 2025, 08:37:21 AM

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

Snip

Both USDT and USDC coins are quite good and top stable coins in the market. So I always recommend these two and I use USDT the most. Although there are many criticisms of USDT, I think it will never crash. Since the crash of UST many people have doubts about stable coins so if there is any doubt about stable coins then there is no option to hold fiat currency but in this case too there is fear of inflation. So risk will be everywhere, we have to do money management by accepting that risk

Yes that is true and usdt has the highest trading volume amongst other stablecoin and of course most traders do store their assets in usdt for quick and easy trades and most times since it has higher trading volume they wouldn't be afraid of anything. But in this aspect I am referring to decoupling or depegging so, if you read throughout you would see that if not for quick trading it better to leave one profits in USD though it's just as USDT which I think it's more trustworthy than any USD -tied coin (stablecoin).

Sanitough

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Quote from: Z_MBFM on January 20, 2025, 08:37:21 AM

Both USDT and USDC coins are quite good and top stable coins in the market. So I always recommend these two and I use USDT the most. Although there are many criticisms of USDT, I think it will never crash. Since the crash of UST many people have doubts about stable coins so if there is any doubt about stable coins then there is no option to hold fiat currency but in this case too there is fear of inflation. So risk will be everywhere, we have to do money management by accepting that risk

USDT gains a huge number of recommendations, and probably this is because it is the most trusted one. Might some choose this because it was only available in the exchange? But, whatever the reason they have, importantly, we choose a coin to trade that can really give us satisfying results.

That is why I don't think there is a need to argue which one of them is the best because, in reality, they are all stable coins. We make a choice depending on what we think is right and applicable.

Z_MBFM

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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

Both USDT and USDC coins are quite good and top stable coins in the market. So I always recommend these two and I use USDT the most. Although there are many criticisms of USDT, I think it will never crash. Since the crash of UST many people have doubts about stable coins so if there is any doubt about stable coins then there is no option to hold fiat currency but in this case too there is fear of inflation. So risk will be everywhere, we have to do money management by accepting that risk

JeffBrad12

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Quote from: Iranus on January 19, 2025, 09:42:20 AM

Quote from: pawanjain on January 19, 2025, 06:00:23 AM

Out of all the options above, I would choose USDC as USDT has some serious issues in their reserve audit reports.
DAI can be used as a back up option too and we can also diversify between USDC and DAI to minimize the risk.

Can you explain more clearly and better if there is specific evidence? Because as far as I know, Fuds about USDT have been circulating for years and many news said that their reserve report is not transparent, clear...But to date, they are the largest and most used stablecoin on the market. Even the news that they will leave the European market because of their refusal to comply with the Mica law has not diminished people's confidence in them.

I don't compare which stable coin is better because for me they are almost the same and which coin to use depends on each person's preference. But I don't think USDT is having problems like those rumors.

https://cryptoslate.com/tethers-usdt-hits-75-market-share-amid-record-exchange-balances/

their reserve transparently described in their website, but I think there are many valid reason why people are so hesitant with USDT

https://cointelegraph.com/news/tether-transparency-business-structure-118b-ftx-concern

this article pretty much sums up all the concern.

but right now since there are more stablecoin deployed in the market more than ever, I think if we are doubtful we can just not use USDT and use something else as simple as that.

Iranus

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Quote from: pawanjain on January 19, 2025, 06:00:23 AM

Out of all the options above, I would choose USDC as USDT has some serious issues in their reserve audit reports.
DAI can be used as a back up option too and we can also diversify between USDC and DAI to minimize the risk.

Can you explain more clearly and better if there is specific evidence? Because as far as I know, Fuds about USDT have been circulating for years and many news said that their reserve report is not transparent, clear...But to date, they are the largest and most used stablecoin on the market. Even the news that they will leave the European market because of their refusal to comply with the Mica law has not diminished people's confidence in them.

I don't compare which stable coin is better because for me they are almost the same and which coin to use depends on each person's preference. But I don't think USDT is having problems like those rumors.

https://cryptoslate.com/tethers-usdt-hits-75-market-share-amid-record-exchange-balances/

GxSTxV

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I always go for USDT as the easiest option and the most used one on almost all platforms. I find it the best option not for many reasons but because it’s the most accessible. I can trade it easily across most exchanges, with low fees and it's available on almost all blockchain networks, BSC, TRC20, POLY, SOL, OP… etc

When the market seems to dip or even just wanting to exchange some of my assets I prefer USDT primarily because of its wide acceptance and liquidity. It’s trusted by traders worldwide and no matter what platform or network I’m using. That said, each stablecoin has its advantages.

However, with the recent news in Europe about the decision to ban USDT, some platforms have already started switching from USDT to USDC. I wouldn’t mind that as well, provided it offers the same advantages and accessibility.

pawanjain

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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

That's a good question and while it depends on individual's choice I was wondering the same thing and wanted to look what would people prefer.
Out of all the options above, I would choose USDC as USDT has some serious issues in their reserve audit reports.
DAI can be used as a back up option too and we can also diversify between USDC and DAI to minimize the risk.

hdtqisg

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Stablecoins are one of the ways to keep the value stable when the market is volatile and investors think it is a good time to take profit or cut loss on investment. Transferring stablecoins is also much easier than USD through bank transactions with reasonable fees when there is a large volume.
I like and use: USDC and USDT

Perfectbaby

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Quote from: Sebas.tian on January 06, 2025, 11:21:47 PM

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, USDT will be my choice among all the stablcoins you mentioned, because you can make income from USDT transactions at anytime when you understand the strategy traders are using to grow income whenever they are trading their USDT. The reason i will use USDT to reserve my funds whenever the price of Bitcoin is about to decrease to bearish season, because the funds will still be huge in my USDT and even though the price of Bitcoin decrease to $90,000 I will have no fear, because I have store my income in USDT. But the moment the bearish season arrive in the market, it will be easy for me to purchase Bitcoin and hold for long term before I can trade in the bullish season to make another income.

You can store your profits from any of the above mentioned stable coin and still trade them back because it's tradable. The major thing is trust and of course USDT usually have the higher trading volume and liquidity, but for trust DAI is more secure and it is a decentralized coin more like privacy coin. Do not quote me wrongly because you can still trade your coin to any of these stable coins but sighting to what happened with Terraust then you will understand where I am driving my question to.

Sebas.tian

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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, USDT will be my choice among all the stablcoins you mentioned, because you can make income from USDT transactions at anytime when you understand the strategy traders are using to grow income whenever they are trading their USDT. The reason i will use USDT to reserve my funds whenever the price of Bitcoin is about to decrease to bearish season, because the funds will still be huge in my USDT and even though the price of Bitcoin decrease to $90,000 I will have no fear, because I have store my income in USDT. But the moment the bearish season arrive in the market, it will be easy for me to purchase Bitcoin and hold for long term before I can trade in the bullish season to make another income.

BALIK

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Quote from: maydna on January 01, 2025, 09:02:57 PM

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.

As I said, the reason Tether doesn't want to comply with the MiCA rule is because their market share in Europe is not that big while MiCA would significantly affect their business.
So they want to solve the problem in their own way but in case many other countries do the same and it threatens their existence then they just change and comply with the regulations. The problem will be solved quickly.

FUD about USDT is not new in the market, it happens every year and many people have talked about its disappearance but it has been more than 10 years. It did not disappear but grew stronger and the proof is that its capitalization is getting bigger and it is still the largest stablecoin on the market.

TheUltraElite

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So anyway, I applied as a merit source :)

No stablecoin is completely safe, you have to have your knowledge backup to help you decide.

Keep in mind that you are having that stablecoin for a short period of time and will change the coin to a cryptocurrency when the market bounces back. Coins like USDT can collapse any time but we have speculating for that since its inception and it will has not.

The fact that the backing is good in some of the stablecoins, might influence your decision, but it is tough to make a decision among them if presented with all the options since none have had major problems.

Webetcoins

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Quote from: maydna on January 01, 2025, 09:02:57 PM

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

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.

Due to having good liquidity and many options most of the community feel comfortable with USDT, but we also have the good number of users which are having USDC for their option recently as we have some development in USDT due to European ban some concerns are rising but most chances we will not have any problem and users will be able to exchange and use of this stablecoin as they were doing.

As market taking changes maybe in near future we will have some option which allow users to do ahead without these stablecoins as well because changes are essential and as development happening we have USDC will be taken the good number of users which are currently enjoying with USDT can go for the USDC after having changes in EU market.

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 $$$

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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.

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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.

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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.

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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.

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Quote from: Strongkored on December 30, 2024, 11:37:55 PM

DAI is more reliable than other stablecoins, but this stablecoin is still lower in market cap than other stablecoins, so traders will always choose those available on many CEXs such as USDT or USDC because they usually only store for a short period of time, storing stablecoins for the long term is dangerous because they can lose value.

DAI is reliable for the reason that it is a decentralized stablecoin, and its low popularity is due to the fact that most of those involved in cryptocurrency have no idea how a decentralized stablecoin differs from a centralized one. I hope that someday this situation with stablecoins will change in favor of decentralization.

Strongkored

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DAI is more reliable than other stablecoins, but this stablecoin is still lower in market cap than other stablecoins, so traders will always choose those available on many CEXs such as USDT or USDC because they usually only store for a short period of time, storing stablecoins for the long term is dangerous because they can lose value.

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Quote from: retreat on December 30, 2024, 05:12:08 AM

I don't really focus on which stablecoin is the best, as long as the exchange provides USDC or USDT I will choose between the two stablecoins. Especially if it is only to secure a position temporarily, both stablecoins are okay to use, but right now I tend to use USDC because it is the most widely available option. However, as the user said above, stablecoins have a risk of being depegged, so holding them for a long period of time is not recommended.

Same thing with me because I hardly keep any of my coins for long in stable coins, I don’t know maybe people do this but I usually just keep them as fiat if it is not going to be converted to bitcoin for a long time. But when I need to use the stable coins I have no choice but to use the one with much liquidity in the exchange. I was actually using USDC before the saga on them been depegged, I switched to USDT and now back to USDC if the need arises. Personally I weigh the risk as equal which is the fear of them getting depegged.

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Quote from: adultcrypto on December 29, 2024, 06:21:04 AM

I think all stablecoins are reliable and it will be very difficult measure the reliability as there is no standard for that. As long as they are still being traded and without any lawsuit against it or the intervention of the authorities, there is not supposed to be any problems especially as the conversion to stablecoin is just temporary until the price dips where buying bitcoin will become the best option again. Although, I personally convert to USDT whenever I want to convert to stablecoin but that does not mean that I don't trust the others.

Aside that, there are some things you need to take into consideration when you want to hold stablecoins. Like how long to you intend to hold and the possibility of having your asset seized. USDT and USDC are the most popular stablecoins, but are centralized and can be blacklisted. Also, they can undergo depeging, that's they can stray slightly in value from the US dollar. DAI, on the other hand is decentralized but depegs more when compared to USDT and USDC.

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?

I usually trade to USDT or USDC but I don't hold them for long.

retreat

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I don't really focus on which stablecoin is the best, as long as the exchange provides USDC or USDT I will choose between the two stablecoins. Especially if it is only to secure a position temporarily, both stablecoins are okay to use, but right now I tend to use USDC because it is the most widely available option. However, as the user said above, stablecoins have a risk of being depegged, so holding them for a long period of time is not recommended.

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Quote from: _act_ on December 29, 2024, 09:20:44 AM

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

~snip~

USD is not a stable coin. It is United States fiat. All the stable coin that you mentioned are all trying to always achieve USD price which is the reason USD is the best as it is not depending on the stable coins but the stable coins are depending on it.

DAI largest reserve is USDC which do not let me prefer the coin.

If I can hold USD, I will prefer it.

Thank you for the deep explanation.
So, in trading it's better to sell any coin to USD, I believe that is only trusted currency that wouldn't depegged (decoupled) anytime or being affected by any market forces.
Some others are also trusted and people has been using it, including me do trade on those stable coin but what just changes my mindset was from when i read about Terra UST made me changed my mindsets towards holding these stable coin back while trading or closing market.

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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

It seems like you are still a newbie trader, but your question is not a bad one. Since you have mentioned so many stable coins here, I will advise you to convert your coin to USDT because it's one of the most safest stable coin in the market currently. USDC does not even rank the ladder no matter what the European Union is trying to do to make sure that USDC becomes the most adopted stable coin in the market. USDT have been providing liquidity in the market to many crypto projects and it's the one you have to follow. You can still convert your coin to any of the able stable coins which are also good to hold for a long time. I prefer USDT and that's what many will tell you.

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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

USDT is my favourite stablecoin and that's because to a greater extent it's easily paired with every other cryptos for trading. It's just sad that Europe wants to stop trading it. A December 30, 2024 deadline has been set for it. We don't know if that deadline will be extended or not.

Anyone can do a further reading here: https://www.google.com/amp/s/www.financemagnates.com/cryptocurrency/mica-threatens-usdts-future-in-europe-as-potential-ban-looms-in-4-days/amp/ or just on any other search engine.

Dr.Bitcoin_Strange

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Preferably, when I want to take profit or convert my coins to a stable coin, I use USDT and the reason why I choose it is because it has more trading volume and also it has a lot of users worldwide compare to other stable coin.
I have been using USDT right from when I got into crypto and there's no reason for me to change to something else.

bettercrypto

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For me, USDT and USDC, these two are very useful to me, here in our country and even in other countries when I transfer fiat outside our country. Then the USD is ok, as far as I know, they are not stablecoins, I don't know if others know this as well.

Just from the two I mentioned, when we know for ourselves that the market is going down, it is good to convert it to USDT or USDC so that your profit is safe and you won't get stuck or else you might just get stressed out in the end or you might be like others who, if they didn't sell at a loss, waited a few years to recover their profit.

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Quote from: Perfectbaby on December 29, 2024, 06:34:56 AM

Have you thought of decoupling or depegging?
Apart from USD and DAI all stable coin can depegged, such as what i red on terra ust, it's so painful that those who sold their coin to terra ust lose all every after the decoupling.
So my question goes directly in relation to the article I came across on Forbes about TerraUST you click here to understand my direction of post and questions. I believe you know which stable coin to choose while trading. Anyway from what I red on this article converting or trading to USD is much important than any other stable coin as they can easily decoupled.

But there is one huge difference between them, Terra's UST is completely different from other stable coins on the market. While all stablecoins like USDT, USDC...use USD as a reserve asset, UST uses Luna tokens, BTC and many other altcoins as reserve assets, all of which are highly volatile assets. Therefore, once the market is dumped, UST depegged is inevitable. Not to mention, since its launch, UST has faced a lot of criticism and predictions of its foretold death from many veteran investors but most people ignored those warnings.

So you should not worry about using stable coins that are circulating in the market and backed by USD, they are much safer than USt.

_act_

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

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

USD is not a stable coin. It is United States fiat. All the stable coin that you mentioned are all trying to always achieve USD price which is the reason USD is the best as it is not depending on the stable coins but the stable coins are depending on it.

DAI largest reserve is USDC which do not let me prefer the coin.

If I can hold USD, I will prefer it.

tvplus006

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Quote from: Perfectbaby on December 29, 2024, 06:34:56 AM

...I believe you know which stable coin to choose while trading. Anyway from what I red on this article converting or trading to USD is much important than any other stable coin as they can easily decoupled.

Converting to USD is of course the most reliable, but it will not allow you to earn additional income in DeFi, so everyone should independently assess the risks and make a decision afterwards. I keep the free part of the stablecoins in USDe, which by its nature is a synthetic stablecoin and allows you to farm ENA even if you just keep it in your wallet. If you stake USDe in various protocols, the boost increases to x20 and allows you to receive additional profit in ENA tokens.

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Normally when I exchange crypto, I just use whatever stablecoin the platform offers that has good liquidity. I don't dive too deep into the technology because I'm not holding these assets long-term anyway. Frankly all the centralized digital dollars seem to have similar uncertainty baked in from my perspective.

However, if I were in a situation where I was worried about the stability of the market, I would probably choose a stablecoin that is backed by a reserve asset, such as USD Coin (USDC). This is because I believe that stablecoins that are backed by real-world assets are more likely to maintain their peg to the US dollar.

I'm no expert though. Maybe the math geeks have already solved for trustless stability. But for now, old fashioned dollars in the vault provide some comfort when the trading waters look choppy.

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Quote from: adultcrypto on December 29, 2024, 06:21:04 AM

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

Snip

I think all stablecoins are reliable and it will be very difficult measure the reliability as there is no standard for that. As long as they are still being traded and without any lawsuit against it or the intervention of the authorities, there is not supposed to be any problems especially as the conversion to stablecoin is just temporary until the price dips where buying bitcoin will become the best option again. Although, I personally convert to USDT whenever I want to convert to stablecoin but that does not mean that I don't trust the others.

By the way, this idea seems imperfect for me because there are chances of being wrong which might make you convert to stablecoins and see bitcoin rise so high that you will lose money doing the conversion. But is this strategy work for you, there is no problems.

Have you thought of decoupling or depegging?
Apart from USD and DAI all stable coin can depegged, such as what i red on terra ust, it's so painful that those who sold their coin to terra ust lose all every after the decoupling.
So my question goes directly in relation to the article I came across on Forbes about TerraUST you click here to understand my direction of post and questions. I believe you know which stable coin to choose while trading. Anyway from what I red on this article converting or trading to USD is much important than any other stable coin as they can easily decoupled.

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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 all stablecoins are reliable and it will be very difficult measure the reliability as there is no standard for that. As long as they are still being traded and without any lawsuit against it or the intervention of the authorities, there is not supposed to be any problems especially as the conversion to stablecoin is just temporary until the price dips where buying bitcoin will become the best option again. Although, I personally convert to USDT whenever I want to convert to stablecoin but that does not mean that I don't trust the others.

By the way, this idea seems imperfect for me because there are chances of being wrong which might make you convert to stablecoins and see bitcoin rise so high that you will lose money doing the conversion. But is this strategy work for you, there is no problems.

Perfectbaby

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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

Topic: What stable coin do you advise when market is against us? (Read 600 times)