Which stablecoin do you "trust" the most? - page 2.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: Bitcoins101 on June 20, 2022, 03:15:28 AM

...People say DAI is very safe, but they said the same about UST. I would stick to stablecoins backed by dollars, not equivalent amounts of cryptocurrency.

Despite the fact that DAI and UST are decentralized stablecoins, there is a big difference between them in providing a peg to the dollar. In addition, UST stablecoin is not only decentralized, it is also an algorithmic stablecoin and therefore differs from DAI stablecoin, which is secured by 150% in ETH.

Joshapat

sr. member

Activity: 1526

Merit: 255

2 stable coins that I always use are USDC and USDT, and the accuracy of the 2 coins in my opinion is the best compared to the others, the presence of the coin stable is very good and helps us to lock the assets so as not to drop, usually I immediately divert assets to the stable coin if The assets that I hold drop are more than 5%.

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: albon on June 23, 2022, 04:51:24 PM

Quote from: tvplus006 on June 20, 2022, 05:35:09 AM

At the moment, I completely refused to keep my money in decentralized algorithmic stablecoins, since most of them have lost their binding to the dollar. USDC is more attractive for saving your funds, since this stablecoin is fully backed by the fiat dollar, but at the same time the risk of blocking increases for those who may fall under sanctions, since it is centralized.

Stable coins are a very important dude in light of price fluctuations in the crypto market, so freezing your money is the definitive solution to not lose it, Do not worry, these stable coins have proven their worth for many years and are central in the opinion that there is no problem in that, as there is no specific party that has banned them or punished their officials to this day, I have been holding USDT and USDC for years and I have not found anything that caused my money to be lost.

Even do have lots of criticisms out of these stable coins but i do still make use of USDT on securing out my profits or saving out myself in volatile market where uneasiness and non sure situations which ive been doing these things

through couple of years already.Im not really into those technical and regulation or something in relate with those situations or issues but one thing i do need is to have that benefit
whenever i do face up certain conditions in the market or some conversions which i do need for me to able on making up some switching.

albon

legendary

Activity: 1890

Merit: 1537

Quote from: tvplus006 on June 20, 2022, 05:35:09 AM

At the moment, I completely refused to keep my money in decentralized algorithmic stablecoins, since most of them have lost their binding to the dollar. USDC is more attractive for saving your funds, since this stablecoin is fully backed by the fiat dollar, but at the same time the risk of blocking increases for those who may fall under sanctions, since it is centralized.

Stable coins are a very important dude in light of price fluctuations in the crypto market, so freezing your money is the definitive solution to not lose it, Do not worry, these stable coins have proven their worth for many years and are central in the opinion that there is no problem in that, as there is no specific party that has banned them or punished their officials to this day, I have been holding USDT and USDC for years and I have not found anything that caused my money to be lost.

nimogsm

hero member

Activity: 2632

Merit: 649

DGbet.fun - Crypto Sportsbook

I divided the portfolio into three parts: usdt/busd/usdc since recent events have taught me not to trust anyone.even if one asset loses in value there will be spare options.I think many insured themselves in this way.

isaac_clarke22

sr. member

Activity: 1610

Merit: 264

Quote from: EmmaGod on June 21, 2022, 02:30:11 PM

If I'm to chose between the stable coins in the market, I'll go with USDT. It's actually a personal decision owing to the fact that I consider it a good store of value and its widely accepted on traded on virtually every cryptocurrency exchange. I would rather leave my assets in stable coin this period.

It's usually what everyone would choose since it is in the top coins in CMC anyway, but in large amounts I would choose DAI if I would ever hold one since I read before in some threads in here that stablecoins are being able to frozen and with that, I don't want that to happen in my own coins so yeah. In smaller amounts like if I was actively trading, I would go for USDT

TheGreatPython

sr. member

Activity: 2660

Merit: 339

Quote from: Bitcoin_Arena on June 10, 2022, 06:33:32 PM

I think everybody knows what happened in the last 2 months. A couple of stablecoin or even more crashed. I know at least 3 that depegged from the US Dollar (UST, USDN and DEI)
This caused a lot of tension on which stablecoin would be the next to depeg. At one point, USDT was under a lot of pressure, and its price even slight dropped as people were rushing to buy USDC and BUSD. Which brings me to the question

Which stablecoin do you feel so comfortable using, without having any worry of depegging?

Just what I thought. After researching the two coins ( usdn and dai) I found out that they are similar to ust in which they are also algorithm based and that would be the main reason on why those coins fell down as well but if you are an investor of those coins and you found out what happened to ust then you shouldn't wait any longer because your coins can probably end up on the same path as ust.

I don't know if there are more algorithmic based stable coins but they are likely going to suffer the same, maybe not now but it can happen in the future but for the stable coins which are still safe, they could be usdt, usdc, busd and dai. People should't worry on them.

EmmaGod

jr. member

Activity: 230

Merit: 1

If I'm to chose between the stable coins in the market, I'll go with USDT. It's actually a personal decision owing to the fact that I consider it a good store of value and its widely accepted on traded on virtually every cryptocurrency exchange. I would rather leave my assets in stable coin this period.

hashrateproducts

full member

Activity: 560

Merit: 143

Active 24/7

USDT Tether is one trusted stable coin I have known for the past years since joining the space. Traders use stable coin as a form or medium of espcade whenever they experience crash of the market. For me, anytime any coin I bagged start to dip, I usually convert all to USDT stable coin and wait for the coin to dip to it's ATL before using my USDT or tether to bagged the coin back. It's just a simple basis in Crypto which most newbies and sometimes experience traders don't know about.

RealMalatesta

legendary

Activity: 2338

Merit: 1124

Quote from: bayudndy on June 20, 2022, 03:34:57 AM

USDC is currently the option that I feel has gained more confidence than the rest. I also heard about Circle announcing Euro Coin, but honestly, after using other stablecoins like USDT and BUSD, I don't think it's too much of a risk to complain as a small trader. Despite seeing recent incidents of many projects losing the ability to support the very things they created, I also suspect many stablecoins today are being overused in this market.

USDC got a bit more attention because of two main reasons. One of them is the fact that Luna dropped so there are a lot of people who are not trusting stablecoins all that much, and fear what if the same thing happens to other ones as well, not the same method of course because USDT, USDC, BUSD are not algo stablecoins, but still a risk.

Second reason is that USA is a big nation with a ton of money, and USDC is made by the biggest (and even listed on Nasdaq) crypto company in the world, that creates a trust and since UST caused people to lose trust, finding the place that you can trust created a good reason for people to pick that one over the others.

blue_hurricanger

full member

Activity: 653

Merit: 183

Same as BTC which was the first crypto, USDT for the first stable coin in the market to be trusted. That creed is enough to migrate a lot of risks when the market is under high volatility and people look up to stable coins that still exist after the market has been through like that.

smartaction

legendary

Activity: 1918

Merit: 1122

Leading Crypto Sports Betting & Casino Platform

Normally i use USDT Because it helps me to convert fiat money very easily. I can easily sell USDT on binance p2P at a high price with fiat money. that's why i use USDT and i trade others token/coin with USDT pair. But When the point comes to holding a high amount, then I choose BUSD. i think BUSD is more safe. And it keeps me calm

GbitG

sr. member

Activity: 854

Merit: 364

I ❤️Bitcoin

After UST de-pug I am sensitive about stable coin because it hit me badly . Now i mostly believe on USDC and BUSD because these coins are the one who hold their price 1$ and if you observe the USDT it's also can't hold their price . Most of the time USDT goes down like 0.98$ , 0.95$ and so on.
So if you want to convert your balance to stable coin I will suggest you BUSD and USDC because they can save us from los

Tony116

legendary

Activity: 2072

Merit: 1023

DGbet.fun - Crypto Sportsbook

My preference would be centralized stablecoin over algorithmic stablecoin. I am still using USDT for my day job, however, I anticipate switching to USDC soon. With the UST losing its peg, USDT has also been affected a lot plus the transparency of USDT is unclear and USDC is being talked about more because it is 100% backed by USD. It is only a matter of time before USDC completely replaces USDT.

virasisog

hero member

Activity: 1820

Merit: 537

Quote from: danherbias07 on June 20, 2022, 07:15:21 AM

I find myself using BUSD most of the time since I got hooked with NFT games that use BSC as their chain for deposits and withdrawals of coins that are earned.
It's not that I trust it because I don't let it rot for a long time. Once I exchange a specific coin for BUSD and reach the right number for minimum cash out, I then exchange it for something else or cash it out.
IMO, there's no assurance in keeping them, they are just bridges so we can transact faster and identify how much we got in a stable form, not an asset.

I'm also more comfortable transacting using BUSD. Since I prefer Binance network, I find BUSD the best pick whenever I have to cash out my funds for lower fees and faster transactions. Yes, they're bridges and all of them function well but we can choose a good stable coin that we're comfortable using.

RussianEnglishTranslation

jr. member

Activity: 840

Merit: 6

USDC is likely the US CBDC and will be issued on all chains that will be used by enterprises and banks in the future, namely Polygon, Stellar, XRP, Hedera, and the internet computer.

danherbias07

legendary

Activity: 3318

Merit: 1133

Leading Crypto Sports Betting & Casino Platform

I find myself using BUSD most of the time since I got hooked with NFT games that use BSC as their chain for deposits and withdrawals of coins that are earned.
It's not that I trust it because I don't let it rot for a long time. Once I exchange a specific coin for BUSD and reach the right number for minimum cash out, I then exchange it for something else or cash it out.
IMO, there's no assurance in keeping them, they are just bridges so we can transact faster and identify how much we got in a stable form, not an asset.

KaliLinux

hero member

Activity: 1344

Merit: 565

Quote from: Bitcoin_Arena on June 10, 2022, 06:33:32 PM

I think everybody knows what happened in the last 2 months. A couple of stablecoin or even more crashed. I know at least 3 that depegged from the US Dollar (UST, USDN and DEI)
This caused a lot of tension on which stablecoin would be the next to depeg. At one point, USDT was under a lot of pressure, and its price even slight dropped as people were rushing to buy USDC and BUSD. Which brings me to the question

Which stablecoin do you feel so comfortable using, without having any worry of depegging?

The issues with stable coins are becoming more worrisome now considering all that has happened recently and is there any stable coin that I think can be actually trusted to be the best with no issue? I guess no, but we still have to use them when the need arises. The question still remains, If these stable coins are actually pegged to the USD, why are they always below $1? As I am typing this, only BUSD and USD Coin are at 1$ others are less and Tron USDD is even $0.96. However, I would say if I have to sell to stable coin it is most likely to be BUSD, USDT.

LastKiss

sr. member

Activity: 2184

Merit: 251

SOL.BIOKRIPT.COM

Quote from: Bitcoin_Arena on June 10, 2022, 06:33:32 PM

I think everybody knows what happened in the last 2 months. A couple of stablecoin or even more crashed. I know at least 3 that depegged from the US Dollar (UST, USDN and DEI)
This caused a lot of tension on which stablecoin would be the next to depeg. At one point, USDT was under a lot of pressure, and its price even slight dropped as people were rushing to buy USDC and BUSD. Which brings me to the question

Which stablecoin do you feel so comfortable using, without having any worry of depegging?

Well still USDT and BUSD is the one I feel comfortable with. Although there are a lot of stablecoins, mostly what I used is USDT and BUSD, since BUSD is very strong in this a lot of pressure season it keeps stronger and makes me not worry so much about another deep pegging case. But In my opinion many stablecoin will learn from the UST case tho.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

At the moment, I completely refused to keep my money in decentralized algorithmic stablecoins, since most of them have lost their binding to the dollar. USDC is more attractive for saving your funds, since this stablecoin is fully backed by the fiat dollar, but at the same time the risk of blocking increases for those who may fall under sanctions, since it is centralized.

Topic: Which stablecoin do you "trust" the most? - page 2. (Read 483 times)