Which is safer, USDT or Binance USD? - page 3.

witbla

newbie

Activity: 154

Merit: 0

Quote from: hwteeer on July 08, 2020, 06:29:52 AM

Hmm, also around 2 to follow. And what are your favorites? Can you outline? Better with more info on how solution really helps, not interested in some abstract projects

The most unique I follow is Centric Foundation with 2 their tokens - CNR and CNS. Centric is the world's first dual-cryptocurrency payment network. Its innovative and unique concept is engineered to achieve breakthrough as a reliable form of payment. You should Google them to have a better understanding

hwteeer

newbie

Activity: 112

Merit: 0

Quote from: witbla on July 08, 2020, 06:29:05 AM

Works similarly for me. And as for now, are you following (or just having in mind) many such platforms? Cause I would say that I am aware of only 1 or 2 most advanced and attractive blockchain based solutions

Hmm, also around 2 to follow. And what are your favorites? Can you outline? Better with more info on how solution really helps, not interested in some abstract projects

witbla

newbie

Activity: 154

Merit: 0

Quote from: hwteeer on July 08, 2020, 06:27:40 AM

Afternoon man. I absolutely share your view here. Much basically depends on the solution. Talking about me, number 1 component is practical value and real benefits I get

Works similarly for me. And as for now, are you following (or just having in mind) many such platforms? Cause I would say that I am aware of only 1 or 2 most advanced and attractive blockchain based solutions

hwteeer

newbie

Activity: 112

Merit: 0

Quote from: witbla on July 08, 2020, 06:26:58 AM

What I would say - the most rational strategy is investing into solutions that have real applicable solution. For example, they adopt blockchain for some issues, existing on one or another market

Afternoon man. I absolutely share your view here. Much basically depends on the solution. Talking about me, number 1 component is practical value and real benefits I get

witbla

newbie

Activity: 154

Merit: 0

What I would say - the most rational strategy is investing into solutions that have real applicable solution. For example, they adopt blockchain for some issues, existing on one or another market

Distinctin

hero member

Activity: 2772

Merit: 645

No dream is too big and no dreamer is too small

USDT of course due to its high liquidity, but I'm not saying BUSD is not safe, it's also a safe coin since it's back by Binance which is a reputable exchange.
If you don't transact a lot of money, I think you can choose any of the two, they won't be gone anytime soon as they are enjoying the demand on them.

olamidey

full member

Activity: 798

Merit: 104

Buy, sell and store real cryptocurrencies

Somehow, I really do not see any problem with both as they're very safe. While Tether is on most exchanges, BUSD is for Human e exchange. We all know that Binance is the biggest exchange and the most reputable. So if you're trading on Binance, you might as well as e some BUSD there.

You could also do some 70 - 30% on both ways so you still get the addition 1% interest. It's all about trading and making good gains.

The coins - BUSD and Tether have a good value and doesn't fall.

Mighty_crypt

member

Activity: 784

Merit: 21

Quote from: Lunatic_Pandora on May 19, 2020, 11:29:09 PM

I was asking myself the same question for a while but ended up just doing 70% Tether cuz I feel is a bit safer and 30% BUSD for the extra interest.

So for you USDT is safer than BUSD? I don't know which stablecoin to trust honestly, these two are both centralized stable coins but still I prefer using USDT because it's available on many exchanges, as a part time trader it's more easy for me to use USDT

torrantz

sr. member

Activity: 1063

Merit: 253

Sovryn - Brings DeFi to Bitcoin

If you keep using binance's exchange service then it'll be better to use Binance USD but otherwise use USDT, however none of these stablecoins are really safe and all the safety and security is on your own so being alerted is heavily advised although these stablecoins could be considered reliableb seeing how they hold on for many years especially usdt. I personally uses USDT simply because it's already accepted everywhere.

rz20

legendary

Activity: 1330

Merit: 1001

Quote from: optional7 on May 19, 2020, 11:11:11 PM

I'm going to deposit some money into Binance Lending, i find BUSD's interest rate is 1% higher than USDT. Which one is better?

I use both of them but for lending on Binance, I always use BUSD because firstly as you said they have a higher interest rate and secondly BUSD is the stable coin from Binance so nothing can go wrong with it IMO.

Tipstar

sr. member

Activity: 1848

Merit: 298

Buzz App - Spin wheel, farm rewards

USDT has accusation of not holding the amount of fiat they are issuing so, it would not the one I suggest. BUSD is also totally depended on Binance but as you have already decided to invest on Binance lending, BUSD is the better option. Just to let you know services like NEXO 10% on savings on many stablecoins and youhodler provides 12% on term depsoit. They also accept other popular stablecoin like paxos and USDC.

joseyphil82

member

Activity: 742

Merit: 16

DAI is decentralized meaning it can't be controlled, it will be my first choice but still I use USDT most times, I would love to use DAI but listed exchanges are limited, not even listed on top exchanges, I don't plan on holding USDT for long term, I will definitely sell for Fiat when I can

Husires

legendary

Activity: 1596

Merit: 1288

Stable crypto are all dangerous, if the option goes for my share, I will choose MakerDAO.
Tether (USDT) and USD COIN, TRUE USD, AND BUSD (Binance usd) can be frozen/reclaim and they can prevent me from sending and ask for my files they will be of no value.
This chart shows these possibilities and whether these backed by dollar or not.

Tether not 100% Backed: They add more about backed by to the site, instead of being pegged to the dollar. Its value is equal to always 100% backed by our reserves, meaning that the price can fluctuate and differ from the dollar.

Quote

Every tether is always 100% backed by our reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, “reserves”). Every tether is also 1-to-1 pegged to the dollar, so 1 USD₮ is always valued by Tether at 1 USD.

it is since 2019, they printed millions of cash after them. So 1 USDT is always equivalent to 1 USD and they have not 1 USD to pay to you.

Quote

From time to time, Tether reviews its Terms of Service and Risk Disclosures to ensure that they remain appropriate and up to date. Our most recent revisions were intended to update our disclosures to reflect Tether’s growth and operations and to be consistent with the types of disclosures used by other institutions

BUSD: available at Hitbtc, Binance, Paxous. They are supported from the platform, so if they get hacked, you will lose your money.
It has no value because it is like the banknotes of a country like Sweden or Japan when we compare it to the US dollar.

Quote

Highly regulated 1:1 USD-backed crypto stablecoin
These are digitised US Dollars and are always purchased and redeemed at 1 BUSD for 1 US dollar.

Backed my USD-backed crypto stablecoin.

I will choose DAI and Tether

mersal

member

Activity: 1204

Merit: 38

Lending crypto currencies is itself not safer so don't choose any coin for it.Maybe we can say exchange reputation matter but do they really give enough interest rate to get some good returns?

You also have to add the inflation rate which is approximately 3% for USD per year and keep increasing every year.So better trade with coin than looking for passive income.

havoc928

full member

Activity: 379

Merit: 100

Decentralized Ascending Auctions on Blockchain

Quote from: bitkanu on July 07, 2020, 08:51:08 PM

Quote from: elyas772 on July 07, 2020, 03:46:07 PM

The difference may only be the transparency of the backup. I think BUSD has been more transparent, but time will tell.

Both are not so transparent and I guess there was no a statement from both of projects were telling us about how much owned by them to backed the stable coin that already issued by them all. There was a lot of questions that are not yet answered

It's true! There is no certain information about both of those "fiat-backed stable coins". We know nothing about those coins except their reputation in the market. For me, in the normal market condition, both are safe enough to use. However, in the critical condition, I'm not sure which one is safer. Personally, I use USDT as a habit so I just stick with it for now.

bitkanu

hero member

Activity: 2184

Merit: 513

Moonbet.io | Web3 Casino

Quote from: elyas772 on July 07, 2020, 03:46:07 PM

The difference may only be the transparency of the backup. I think BUSD has been more transparent, but time will tell.

Both are not so transparent and I guess there was no a statement from both of projects were telling us about how much owned by them to backed the stable coin that already issued by them all. There was a lot of questions that are not yet answered

coupable

hero member

Activity: 2338

Merit: 757

Quote from: carter34 on July 07, 2020, 07:34:38 PM

Tether is secured because you may decide to bring it to your wallet anytime. And reconvert back to Fiat. Any coin that you can also have in your wallet has a better security incase the exchange is falling to scam.

The problem with Tether is we can't be sure that it's really backed by usd reserve. Bitfinex, which is the platform where usdt were firstly created, claimed that the coin has an equivalent reserve of usd. But, we still can't understand how more supply is created from time to time.

carter34

member

Activity: 1302

Merit: 25

Tether is secured because you may decide to bring it to your wallet anytime. And reconvert back to Fiat. Any coin that you can also have in your wallet has a better security incase the exchange is falling to scam.

sheenshane

legendary

Activity: 2366

Merit: 1206

Quote from: LbtalkL on July 07, 2020, 06:10:27 PM

We all know that USDT is suspicious, I prefer BUSD since it is manage by binance. Binance has build up their reputation for several years and they trying new services for the crypto community and they are really contributing a lot. But we can't deny USDT is the most used stablecoin I guess because it is the first on it's kind. If BUSD has higher interest choose BUSD.

That's it and since OP using the Binance exchange platform why not using this stable coin. As I'm heard, this BUSD is fully back by the US dollar with the ration of 1:1 basis and held on the US Bank that was owned by one of the partnered by Binance. So, I prefer to use BUSD at this time.

But this' is not the problem at all because you aren't maybe have a plan to store this coins for term purpose. Besides, you cant use this BUSDT on other exchanges only in Binance.

LbtalkL

full member

Activity: 1176

Merit: 162

We all know that USDT is suspicious, I prefer BUSD since it is manage by binance. Binance has build up their reputation for several years and they trying new services for the crypto community and they are really contributing a lot. But we can't deny USDT is the most used stablecoin I guess because it is the first on it's kind. If BUSD has higher interest choose BUSD.

Topic: Which is safer, USDT or Binance USD? - page 3. (Read 888 times)