Which one is best and safest STABLE coin? - page 2.

abralzain17

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Quote from: btcwish1 on October 13, 2021, 03:33:07 PM

Hi Friends,

as you are aware there are several stable coins such as USDT, USDC, BUSD, DAI and so on. Among them, I know that Tether-USDT can be frozen. Source: https://www.dcforecasts.com/tether-news/tether-is-now-able-to-freeze-and-destroy-your-usdt-coins-report/

In my opinion there is really no difference between bank and USDT if they can freeze coins. So, I am just wondering, if you have any preferred stable coins which is safe and can't be frozen etc.

I wish to convert some of the coins to stable coins for next bull run. So, your suggestions will be very much appreciated

as you mentioned in the thread above, USDT, USDC, BUSD, DAI are altcoins that have stability and are also safe altcoins to be stored in the long term. if you hold several altcoins as mentioned above then the profit is very minimal in investing. I have a little advice for you, Cardano or Ada is almost the same as other stable coins, but you can also find many advantages when holding Cardano in the long term.

bakasabo

legendary

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Quote from: Karina0315 on November 09, 2021, 02:22:03 AM

DAI is the best out of the listed stable coin. The only problem is that it is listed on very less exchanges.

You are contradicting to yourself. How can DAI be the best, and simultaneously be traded only on few exchanges? This instantly crosses out all the advantages DAI have. Besides, you did not mention any advantage of DAI that it has over other stables. What are its main benefits? Decentralized community? Every community easily can become centralized or managed by group of others. Dont forget that DAI is based on Ethereum blockchain. Nowadays everything with Ethereum equals expensive. And that reflects on DAI as well. Whenever you, other person or devs wants to do with DAI - it will be expensive for everyone.

Karina0315

newbie

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DAI is the best out of the listed stable coin. The only problem is that it is listed on very less exchanges.

bamb

sr. member

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I think there is no safest stable coin, what we have as far as security of stable coin is concern is the security of the chain they are in. Stablecoin on ethereum and to some large extent bsc are safe. The continue operations of stablecoin is another issue that will persist. There are controversies about the backing of cryptocurrency stablecoin whether they are real or made up. What is important however is that stablecoin help to manage your cryptocurrency profitably!

Koro-Sensei

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A stable coin that is backed by BTC is one of the best for me. Dollars on Chain or DoC is a 100% bitcoin collateralised stable coin that offers all the bitcoin features but with no volatility. It is built on rsk network that is a side chain for bitcoin and is 60% merge mined by bitcoin miners. One of the most highly secured network and never been hacked before.

HashingTower

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$CYBERCASH METAVERSE

USDC, BUSD and DAI, it depends which one you prefer either centralised or decentralized, I'm excluding USDT because it's not trusted 💯 but it's one of the best and most used stable coin in crypto space, if you keeping your fund for long term I trust binance BUSD more

StarKay

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We All Can Make It

Quote from: savetheFORUM on November 07, 2021, 03:23:52 AM

I am making use of stablecoins only for short term based trading and I will not plan up anything with stablecoins until we are having a truly decentralized one.

Truly decentralised Stablecoin will be hard to come by because it's ability to be a Stable coin will be affected if it is decentralised. Stablecoins are not Crypto since they are pegged to fiat.
USDT will remain the Stablecoin of choice for a very long time, reason is that it is widely acceptable and also it is crosschain.

savetheFORUM

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Quote from: btcwish1 on October 13, 2021, 03:33:07 PM

In my opinion there is really no difference between bank and USDT if they can freeze coins. So, I am just wondering, if you have any preferred stable coins which is safe and can't be frozen etc.

Until we are having a truly decentralized stable coin, more stablecoin will be safer for long term holding. For example, tether is a corporate based stabelcoin and if a government shutdown their business, then all tether native coins and tokens will become zero volume due to massive dump.

I am making use of stablecoins only for short term based trading and I will not plan up anything with stablecoins until we are having a truly decentralized one.

indah rezqi

hero member

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I'm just worried about USDC and others for me all the same i.e. they are equally good for this type of stablecoin. Even though USDC can be frozen, I think it still has other alternatives such as not holding it for a long time.

Ararbermas

sr. member

Activity: 2016

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Well there's a bunch of stable coins out there so if it will gonna happen probably i will choose BUSD since i used binance to trade. Actually i never heard such information about Tether USDT because i fell secured when it comes to it and ever since before i have no problems with it. Indeed mostly projects nowadays is relying with TRC20 because of fees and speed.. If it will gonna happen perhaps it's big problem for everyone who keep making transactions using tether everyday..

LUCKMCFLY

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Leading Crypto Sports Betting & Casino Platform

Quote from: cheezcarls on November 02, 2021, 04:53:45 PM

I usually receive USDT (TRC20) for my salaries and other gigs most of the time and so far no problem until now. However, it is centralized in which it can be frozen anytime without warning but it's stable and widely popular for cryptocurrency traders. Sometimes I receive BUSD and DAI, but haven't tried USDC yet.

I think the same as you, in fact most of my transactions I try to do based on USDT, especially when changes are going to be made to FIAT, but lately due to some projects I have been working with BUSD and the experience has been very good, really the transaction is fast and reliable.

Currently, none of the stablecoins are totally pure (it is not only currency) they have their mix in crypto and I don't know to what extent this will be good, but I have seen that USDT did not reappear a strong fall, also the mix with crypto helps you .

noah tall

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When i hear the name of stable coin . There are two coin wich come in the mind #1 busd #1 usdt. There are so many other stable coins but these two are more trustable than others. in the market the rumors about usdt but over all there is no danger.

Google+

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Leading Crypto Sports Betting & Casino Platform

Quote from: kojektea on November 03, 2021, 12:26:17 AM

I think USDT is the safest coin. Alternatives may be some such as BUSD, USDC, USDT(tron). Perhaps why the USDT Party can freeze USDT so that no money laundering or other legalities occur. It's all for the safety of the community.

There's no need to write USDT(tron) because it's just a network option that has been supported by USDT in the past few years, because network support in USDT has started to grow now, not only limited to Tron, but there are also others.

kojektea

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I think USDT is the safest coin. Alternatives may be some such as BUSD, USDC, USDT(tron). Perhaps why the USDT Party can freeze USDT so that no money laundering or other legalities occur. It's all for the safety of the community.

Huppercase

hero member

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What ever stable you choose to interact with, just make sure that the fees is kind accommodating, I mean the transaction fee because I don't get why they will call cryptocurrency a revolutionary solution to traditional ecosystem while her own price is something that isn't favourable, I hope this becomes addressed by everyone because it looks like only the richer get richer in this game.

Teknisi88

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DAI is a crypto asset built on the Ethereum blockchain programmed to have the same value as the US dollar. With its stable value, DAI is often used for trading crypto assets and as an investment instrument.

jeungo

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For me there are only two stable coins in which I believe more than any other USDC and USDT. Tested by the time of coins, which have not yet given reasons to doubt, maybe there is still, but I did not hear about it. If there are new projects that deserve attention to will read this topic.

vabchgent

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Quote from: cheezcarls on November 02, 2021, 04:53:45 PM

I usually receive USDT (TRC20) for my salaries and other gigs most of the time and so far no problem until now. However, it is centralized in which it can be frozen anytime without warning but it's stable and widely popular for cryptocurrency traders. Sometimes I receive BUSD and DAI, but haven't tried USDC yet.

The issue with centralization is true, but that is the trade-off right? They are smooth to use, efficient, cheap. If you take algorithmic stable coins there is risk involved, you are usually subject to volatility and also to a required collateral.

I have never had a problem with USDT (TRC20) either and I also like BUSD just because I think that Binance is too big to fail and extremely profitable so why should they scam their users.

cheezcarls

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Looking for gigs

I usually receive USDT (TRC20) for my salaries and other gigs most of the time and so far no problem until now. However, it is centralized in which it can be frozen anytime without warning but it's stable and widely popular for cryptocurrency traders. Sometimes I receive BUSD and DAI, but haven't tried USDC yet.

perfect999

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Quote from: el kaka22 on November 02, 2021, 02:49:32 PM

Anyone who says that USDT is the safest has no idea what the safest means. Even BUSD is safer because it is backed by Binance and we all know Binance is a great place and they are more trustworthy than a company called "tether" that has absolutely no other product. Tether just gets your money, puts it into other stuff that could be sold quickly and has liquidity, make a small portion of profit from it, and gives you nothing at all.

The moment they lose some of that money means that they are not backing USDT and that is very risky. On the other handBinance is a company that makes billions all the time, they could simply just allow people get paid and make that back eventually anyway from the trading fee profits.

Here I agree with you because BUSD is really better idea then going into USDT which is never been good idea I am also having some serious issues with this in last few weeks, so now I am also going to change this into BUSD which is backed by Binance, and we have some good confidence on this exchange instead of Tether.

If someone doesn't want to go with BUSD then there is another better stablecoin available in market which is DAI it's also having very good use case we can go with this instead of Tether, but please still do some your own search before using any coin because it's much better than going with other's opinion.

Topic: Which one is best and safest STABLE coin? - page 2. (Read 577 times)