Which stablecoin do you trust the most? - page 6.

adzino

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Quote from: jimmywh on February 04, 2021, 06:30:46 AM

Hey guys,
I plan on selling some of my altcoins in the near future. Instead of converting it to fiat, I will rather convert it to BTC and stablecoins. I hear a lot of concerns regarding USDT, which is why I want to ask you guys what stablecoin you prefer to hold?

Thanks in advance.

It is totally okay to be concerned about USDT. I have heard your coins can get frozen anytime. So it is a risk not worth taking. Try some other stable coins that is "truly" decentralized. Maybe try one of those decentralized coins like TUSD or DAI (Do your own research. I don't know much about them and did no research. I have only heard that they are "good". You should trust your OWN opinion).
Why would you want to hold a stable coin though?

southerngentuk

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I quite trust DAI, USDC and they are also stable coins that I reward to use every time I liquidate all of my cryptocurrencies. Usdt used to be the top choice that I came to think of, but maybe because it had a lot of problems that were not clear and this made me choose other stablecoins that I felt safe, in this space always that we will have many choices instead of just one.

target

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Traders are already anticipating that tether can be frozen inside your wallet and with regulations today, it's likely will happen when governments want to collect tax from the profits of the traders.

If you are going to move it out of the exchange and going to the Eth wallet for a long-term hold, just use DAI its safer that way. And I hope it really is as what others are telling because its decentralized.

FireBallex

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Let's all look at the risk side, if decentralized stable coin vanished today that's the end, there is no clue where to find the scammers since it's decentralized, this makes me thinks that decentralized projects are even more shady and dangerous, USDT was once accused of many things in the past but that's because they are centralized, making them and things around them more transparency

posi

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Quote from: jimmywh on February 04, 2021, 06:30:46 AM

Hey guys,
I plan on selling some of my altcoins in the near future. Instead of converting it to fiat, I will rather convert it to BTC and stablecoins. I hear a lot of concerns regarding USDT, which is why I want to ask you guys what stablecoin you prefer to hold?

Thanks in advance.

I personally don't like USDT because if they once lied then (which I believe they are still doing the something) nothing stop them from doing the something but everything depends on your place because most centralized stable coin is backed with fiat and if you're with that you can choose USDC or BUSD while decentralized stablecoin are goo for a long time holding they are usually backed with precious metal.
If you are planning to use a decentralized precious metal back stable coin stay away from this kind of stablecoin.

Quote from: ?? on ??

even if it is centralized and it is not completely backed i (as well as many exchanges) i continue to prefer usdt even dai it is not bad i would say that they are the same,equal but on a personal level i prefer usdt not that it has anything more

If you are aware of the previous allegations and scam activities are done by the USDT team you won't have seen it as the perfect stable coin to choose. But, I still don't get the reason why people still love this coin.

Shallow

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Quote from: jimmywh on February 04, 2021, 06:30:46 AM

Hey guys,
I plan on selling some of my altcoins in the near future. Instead of converting it to fiat, I will rather convert it to BTC and stablecoins. I hear a lot of concerns regarding USDT, which is why I want to ask you guys what stablecoin you prefer to hold?

Thanks in advance.

To be frank, considering the fud or whatever that is being spread around USDT, calls for concern, that was how it started with XRP and today, the case is still lingering but looking at the growth over the years and how huge it has grown to made a lot of people to overlook whatever fud, and also, USDT seems not to care about whatever that is being said about them. Nevertheless, since you are yet to decide when to sell, as you said in the near future, then you can use USDT just for short term reasons, but once you are ready for long term, then look towards DAI; DAI is a decentralized stablecoin which means it can't be frozen like other stablecoins. Also, holding DAI for short term is also good, at least it is been supported by a lot of exchanges now.

Fivestar4everMVP

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Ive always been an ardent user of usdt, i mean its the only stable coin ive always trusted used ever since i got into crypto, but the concerns they had of recent made me to do some research about it which made me discover its not even the safest, i mean ive always thought its the safest amogst all other stable coins but after my research, i learnt that DAI is the safest stablecoin to use, so personally, am shifting to DAI and i hope you consider it too.

so to answer your question in plain sentence, DAi is the best to use.

thecryptogandalf

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Dai is the safest imo. It's the only one i truly trust as it's based on smart contract on the eth chain. It's a decentralized stable coin, not a custodian coin.

Squezzi55

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I don't hold stable coins for so long, that's why I don't see any reason to patronize any decentralized stable coins like DAI, the highest I hold stable coin is for some months, USDT is enough to get the job done, volume and liquidity are like no other and top exchanges supports the centralized Stable coin too so why not?

Xxmodded

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USDT become the only stable coin become destination for all investor when bitcoin and altcoin have lower price, so they can make usdt as saving assets during bitcoin and altcoin back to higher price, I think USDT keep stable and have potential higher price depend how world situation, maybe when get good news usdt can get impact higher price although few percent but more dominance to keep stable on higher price.

abel1337

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For my current situation now, I am using USDT for a very small period of time and DAI for a somehow extended period of time more likely for weeks but not exceeding for months. I am using USDT before for my main stable coin but there are issues using it like locking and not being backed by USD in a value of 1:1.

Kvalentine

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I don't care about any decentralized projects, been decentralized but nothing to show for it, this was said to be more secured but it's all a lie, I wonder if SEC can go after decentralized platforms if they scam or rip their investors off, anyways the reason why I choose USDT is because they are more popular and also centralized, if anything goes wrong many will chase after them

electronicash

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Quote from: jimmywh on February 04, 2021, 06:57:48 AM

Quote from: ?? on ??

Quote from: jimmywh on February 04, 2021, 06:30:46 AM

Hey guys,
I plan on selling some of my altcoins in the near future. Instead of converting it to fiat, I will rather convert it to BTC and stablecoins. I hear a lot of concerns regarding USDT, which is why I want to ask you guys what stablecoin you prefer to hold?

Thanks in advance.

For now I still like USDT stable tokens, I still believe in them, so I still keep USDT up to now,
so if I may know what concerns have you heard about USDT so far?

If you look at the article jawhead is linking to, my concerns are pretty much summed up there.

many of us will likely do the same and hold DAI instead til things are calm. there could be a lot of things coming with stablecoins in the future, the centralized ones like USDT and BUSD and so on. if regulations are really going tighter soon, its the stablecoin that will greatly be affected and it's not going to be surprising to see USDT (ERC or TRC) are going to be frozen in the wallet.

Handsome Boy

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Quote from: jimmywh on February 04, 2021, 06:30:46 AM

Hey guys,
I plan on selling some of my altcoins in the near future. Instead of converting it to fiat, I will rather convert it to BTC and stablecoins. I hear a lot of concerns regarding USDT, which is why I want to ask you guys what stablecoin you prefer to hold?

Thanks in advance.

of course USDT, although many people are worried about using USDT, but I personally still trust to using USDT, because the volume of USDT is also very high and besides that USDT is also listed on almost all exchange, so it is very easy for me to trading on any exchange, because I can transfer my USDT to any exchange quickly and easily.

Balladtony77

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I prefer USDT stable coins because it's centralized and yes they can lock your USDT tokens, people who don't like this idea of locking are those who are into fraudulent activities online, I've seen some saying DAI is the way to go because it's decentralized well USDT has real reserve that they can't hide and I'm not so sure about DAI

Princeofpoetry

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why are you concerns USDT? I think most people choose USDT as a stablecoin to exchange their assets. Currently USDT is a stable coin that many people use. so I think it will be safe for the long term

Mauser

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Quote from: jimmywh on February 04, 2021, 06:30:46 AM

Hey guys,
I plan on selling some of my altcoins in the near future. Instead of converting it to fiat, I will rather convert it to BTC and stablecoins. I hear a lot of concerns regarding USDT, which is why I want to ask you guys what stablecoin you prefer to hold?

Thanks in advance.

I am a huge fan for bitcoins, even at levels of above $30,000, but the upside potential is very limited at the moment. So if you just look for a coin to store value and don't look for higher prices in the future you should definitely buy some bitcoins. The price is very volatile at the moment, so it's better to buy smaller amounts over a longer period of time than to just buy at all at once. As for stablecoins I would probably go for USDt. A lot of people are already using it.

Kocret02

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Quote from: jimmywh on February 04, 2021, 06:30:46 AM

Hey guys,
I plan on selling some of my altcoins in the near future. Instead of converting it to fiat, I will rather convert it to BTC and stablecoins. I hear a lot of concerns regarding USDT, which is why I want to ask you guys what stablecoin you prefer to hold?

Thanks in advance.

USDT Concerns? do you mean like a scam or something? I think USDT remains the best stable coin at the moment. besides USDT bitcoin can be an option. do it if you choose USDT because I myself have USDT since 2017 until now it is still safe and there are no problems with the stable token

milani

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Quote from: jimmywh on February 04, 2021, 06:30:46 AM

Hey guys,
I plan on selling some of my altcoins in the near future. Instead of converting it to fiat, I will rather convert it to BTC and stablecoins. I hear a lot of concerns regarding USDT, which is why I want to ask you guys what stablecoin you prefer to hold?

Thanks in advance.

In case you would like to learn what stablecoins are better, I would stress that I prefer USDT ERC-20, because there are USDT TRC-20, for the last ones you will need Tron wallet. I prefer USDT ERC-20, because you will get more opportunities and more projects to cooperate with. But it depends on the person, his aim and preferences.

jrrsparkles

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Quote from: jimmywh on February 04, 2021, 06:30:46 AM

Hey guys,
I plan on selling some of my altcoins in the near future. Instead of converting it to fiat, I will rather convert it to BTC and stablecoins. I hear a lot of concerns regarding USDT, which is why I want to ask you guys what stablecoin you prefer to hold?

Thanks in advance.

There are some Truly decentralized cryptos available and DAI is one of it which is pegged to ethereum via smart contracts so no ine can be able to freeze or take access of your coins. So it can be used for long term storage but if you don't have plan to buy cryptos again for years then better convert into fiat.

Topic: Which stablecoin do you trust the most? - page 6. (Read 1156 times)