Topic: Which is safer, USDT or Binance USD? - page 6. (Read 924 times)
USDT has higher adoption across other exchanges and stores
You csn easily split it between both. Since BUSD is the stablecoin of Binance and that's where you intend using the funds, going all in on BUSD wont be a bad idea also. Agreed USDT is the most popular stablecoin but as you said, the interest rate on BUSD is better.
Having both will be the better option considering taking advantage of both side by getting a interests rate advantage on the binance site and USDT being so much popular and has a vast reach will benefit a lot in terms of demand and price. Also, better to have multiple coins rather than being just holding a single coin.
You csn easily split it between both. Since BUSD is the stablecoin of Binance and that's where you intend using the funds, going all in on BUSD wont be a bad idea also. Agreed USDT is the most popular stablecoin but as you said, the interest rate on BUSD is better.
In my option, USDT is a king but BUSD has its own advantage like you can get staking reward which is more than 1% higher then USDT. but USDT has its vast market where you can trade it in most exchanges. BUSD is also doing various partnership with many exchange to increase Its BUSD market
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?
First Binance is a good exchange always know that and now since you are about going into their lending program, I think it is better to use BUSD so as to enjoy all the benefits that comes with it. Normally USDT is much better but in this case where is concerns Binance, the other looks like a more viable option. Also, with Binance being in charge of this and hence using BUSD, that means there is no need to worry; but if it is for something different where you will need to choose between the two, then USDT is preferable.
Binance is making crypto more popular, they now have stable coin, dex exchange and binance Chain, this will make me definitely want to use BUSD over USDT but USDT have already gain the heart of many crypto traders, usdt is far more well embraced
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.
Tether always feels safe but most people keep USDT in exchanges, which then nullifies whichever currency you want. Keeping Tether in your own ETH wallet is probably okay but I would just as well convert it all to fiat currency in USD and insure it. That is way safer than storing on any exchange waiting to get hacked!
Both usdt and BUSD are centralized stable coins but if I have to pick based on popularity the answer is USDT, also on volume based it's USDT, I think any offers on BUSD is only useful if you are using binance exchange
Both are safe because busd is from binance which is trusted and usdt is recommendable stable coin and also the highest volume of all cryptos. In terms of interest rate you should go busd.
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 think your OP title "Which is safer, USDT or Binance USD?" is confusing regarding your point which is the interest rate. But let me answer this way if the interest rates of BUSD deposits are much higher compare to USDT deposit it is better to go for BUSD because it was offering much higher interest rates and of course BUSD is a stable coin guaranteed by Binance exchange as a Binance user since 2017 I can say that it was a trusted exchange platform and much safer compare to others.
Usdt is far better than busd because it's not depend only on a single cryptocurrency exchange as we know that usdt is available on almost every cryptocurrency exchange as a trading pair besides Bitcoin and eth and the most important thing, in the matter of adoption and market capitalization busd is nowhere to compare usdt and this is the simple point to understand which one is more capable between both.
BUSD is better on binance exchange so if you are using binance then choose BUSD but generally USDT is more better if you aren't using binance exchange, USDT is available everywhere and it's one of the few stable coins with highest volume
It is about trust and transparency. BUSD is Binance USD while USDT cuts across many exchanges. For the interest you can go ahead because of the interest since Binance exchange has a good liquidity.
For now usdt is more popular than BUSD but it only a matter of time, BUSD belongs to binance and in near future BUSD will be more popular too, if you are going to use binance exchange then go for BUSD instead
Newbie here. I'm still figuring out why Binance coin is still better than USDT (Tether)?
Apart from the lower maker/taker fees using Binance coin , I don't really see the advantage of using BNB (plus the volatility of BNB price which is influenced by BTC price). Can someone care to explain?
Sorry for asking this seemingly stupid question.
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Apart from the lower maker/taker fees using Binance coin , I don't really see the advantage of using BNB (plus the volatility of BNB price which is influenced by BTC price). Can someone care to explain?
Sorry for asking this seemingly stupid question.
P/S: Planning to work in Singapore? Contact Ren Ai Group today, a Singapore recruitment firm which also offer human resource shared services , payroll outsourcing Singapore , employment pass application etc.
Bro you are confusing the two coin, bnb and Busd are two different coin, base on what @op is asking, busd is a stable coin introduced by Binance not quite long ago, bnb on the other is the platform coin use for fees and also for participating in Binance launchpad, this two coin perform different functions, without bnb you can't take part on Binance ieo which is also important,
Bnb is not the only coin with high volatility, it is the same with other coins and nothing that can be done about that.
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?
if you only invest in binance markets it is better to invest in BUSD because a trading altcoin is easier to use BUSD, but if you also invest in other markets it is better to choose USDT because more markets provide exchange through USDT.
Newbie here. I'm still figuring out why Binance coin is still better than USDT (Tether)?
Apart from the lower maker/taker fees using Binance coin , I don't really see the advantage of using BNB (plus the volatility of BNB price which is influenced by BTC price). Can someone care to explain?
Sorry for asking this seemingly stupid question.
P/S: Planning to work in Singapore? Contact Ren Ai Group today, a Singapore recruitment firm which also offer human resource shared services , payroll outsourcing Singapore , employment pass application etc.
Apart from the lower maker/taker fees using Binance coin , I don't really see the advantage of using BNB (plus the volatility of BNB price which is influenced by BTC price). Can someone care to explain?
Sorry for asking this seemingly stupid question.
P/S: Planning to work in Singapore? Contact Ren Ai Group today, a Singapore recruitment firm which also offer human resource shared services , payroll outsourcing Singapore , employment pass application etc.
Quote
Binance USD (BUSD) is a new USD-denominated stablecoin approved by the New York State Department of Financial Services (NYDFS) that will be launched in partnership with Paxos and Binance. ...
@OP, A quick google search about Busd and it came up with the above, busd is not just a stale coin but also backed by the New York state department of financial services which can not be said for other stable coin, with this very vital piece of information, I would go with Busd rather than usdt, it is more secured than other stable coin, then again the choice is yours to make.
Yes, based on the indication given by you, most of the people who choose to hold their profit in BUSD only because the saving for BUSD has a higher rate in Binance compared to USDT. So when I make a profit in trading I used to convert them to BUSD only in order to get interest.
Quote
Binance USD (BUSD) is a new USD-denominated stablecoin approved by the New York State Department of Financial Services (NYDFS) that will be launched in partnership with Paxos and Binance. ...
@OP, A quick google search about Busd and it came up with the above, busd is not just a stale coin but also backed by the New York state department of financial services which can not be said for other stable coin, with this very vital piece of information, I would go with Busd rather than usdt, it is more secured than other stable coin, then again the choice is yours to make.
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 would recommend USDT from BUSD because many markets already work with USDT, but if you stay in the Binance market then BUSD is better than USDT Jump to: