Topic: Which stablecoin do you "trust" the most? - page 4. (Read 483 times)
The crypto market is unpredictable these days and any thing can happen anytime so we should be prepared and ready to invest what we know we can afford to lose. I was very surprised to see what happens to Luna crashing drastically without any signal for us to sell our holdings. No place is safe in the crypto market right now. We need to be aware of the risk and get ready for the worse in case it comes to us.
I used Tether, but nowadays I started to use BUSD due to the high supply of USDT. I don't know what is the actual supply of USDT and how many coins are circulating over the blockchain.
For me BUSD is more transperant than USDT,
Though I use BUSD I don't suggest anyone hold this coin for a long time. You can use a stable coin to avoid unexpected dumps when you plan to liquidate your coin near future, otherwise, it is not wise to convert all of your investment to a stable coin.
For me BUSD is more transperant than USDT,
Though I use BUSD I don't suggest anyone hold this coin for a long time. You can use a stable coin to avoid unexpected dumps when you plan to liquidate your coin near future, otherwise, it is not wise to convert all of your investment to a stable coin.
I rather not trust any stablecoin and keep them at a low percentage in my bag if I can. I rather keep most of my money in fiat. It's not really that hard to get your fiat back to stablecoins. Maybe you won't be ready as the others but you lower the chance of burst since no one knows what might happen for stablecoins when everyone is so fearful and the market is bearish.
^ All stable coins should not be trusted when it comes in holding long term, they are not worth it on it. The same story on USDT which have a not good background. Trust no one except BTC itself not on the stable coins.There is no really stable coin that backed or pegged by the fiat, since cryptocurrency and government are not friendly yet. However, USDT is only good for diverting asset not supposedly trusted in holding for a long period of time.
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?
Unfortunately this is a worry that should always be on the minds of the people, stable coins have the same weakness that paper money backed by gold had, which is that at some point those which are behind the currency can decide to stop backing their coins with gold or USD.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?
It is because of this that stable coins must not be held for the long term, and at the first sign that something is wrong then you need to either buy bitcoin or exit the market for the time being and get fiat instead.
I rather not trust any stablecoin and keep them at a low percentage in my bag if I can. I rather keep most of my money in fiat. It's not really that hard to get your fiat back to stablecoins. Maybe you won't be ready as the others but you lower the chance of burst since no one knows what might happen for stablecoins when everyone is so fearful and the market is bearish.
I think USDD is the best option right now for a stable coin because they have a large reserve.
Tron has a big market cap and that is brand.
Tron has a big market cap and that is brand.
With the recent fall in the price of UST, it traumatized me a bit because there I also felt very high losses when the stable coin failed and now I am more calm when using BUSD and BUSC where both stablecoins have stable backups and are quite transparent , so the current choice is still BUSD and BUSC because it is safe if I feel it until now.
I would most definitely go for USDT. That's the one i find more " trusted " 
Why not hold digital fiat if you guys is scared on losing the pegged of stablecoins available in the crypto. The purposed of buying stablecoins is just for holding to avoid lose during bear market season. There exchange offering Fiat in like Kraken that has EUR and P2P trading to convert asset on your respective fiat.
Why not save the worries on all available stablecoin and back to the basic and hold fiat while everything in crypto is very risky?
Why not save the worries on all available stablecoin and back to the basic and hold fiat while everything in crypto is very risky?
Definitely Binance USD since it was quite literally backed by binance and we all know how famous binance is that I doubt they gonna do anything silly to make this fall like UST and since it's not an algorithmic unlike UST I guess its not gonna ended up having the same fate.
But honestly, USDT, USDC, and Binance USD is all the same, if your holding or investment isn't that big its not gonna make any significant difference.
But honestly, USDT, USDC, and Binance USD is all the same, if your holding or investment isn't that big its not gonna make any significant difference.
Most stable coin are backed by centralised bodies and that implies that they're not 100% safe and anything could go wrong with them just like they did to UST and the rest. But I'll prefer holding USDT and busd due to their market capitalisation and sustainability. I recall USDT should be around the top 10 in the coin market and that's a good indicator for me.
As for USDT, I still strongly believe because USDT is very often in the top 5 as a stable coin and also has many pairs with altcoins on the exchange so choosing USDT for one stable coin model is actually quite enough, but now because there is a lot of support and altcoin pairs also with BUSD, thus making some people also choose BUSD after choosing USDT. And that is good because they both have a good market capitalization. 
I think the UST incident is enough to prove that as long as a cryptocurrency is stable, it doesn't mean it's safe from attacks. Some coins that are still not proven safe like UST like UST, or backups whose news is still not fully backed up in USD like USDT, it will not be easy to trust. I now only believe in BUSD, at least they have the world's largest exchange ready to be a backup that people already know about.
...Which stablecoin do you feel so comfortable using, without having any worry of depegging?
After the algorithmic stablecoins UST, DIE, USDN and USDD have lost their binding to the USD, I have no desire to keep my savings in this kind of stablecoins. The vulnerability of this stablecoin lies in the fact that in the case of a dump of the main coin supporting the stablecoin, as a rule, the whole system collapses, as we saw with the UST stablecoin.
I think there should be no problem using USDT and USDC as they both have other equivalent collateral and operate unlike the stablecoin dependent coins the OP mentioned. However, I have also seen the effects before where prices do not correspond to the USD value. Honestly, I have never felt worried even after witnessing many recent incidents. Perhaps, the recent damage case helps us understand the true nature of the USD in this space rather than as an ordinary instrument of exchange.
Which stablecoin do you feel so comfortable using, without having any worry of depegging?
After the recent shocking events with algorithmic stablecoins like UST, I think people are starting to think about buying only 1:1 FIAT backed stablecoins like BUSD or USDC. There's nothing better than holding a stablecoin that's clear right now, although some new algorithmic stablecoins are popping up like USDD (Decentralize Stablecoin), I'd stick with just buying and holding BUSD or USDC.
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?
To be honest, after the UST case I was afraid to believe in stable coins, it's just that until now I still use USDT to store my assets even though I don't trust anything but until now it still provides comfort and security when trading using USDT so it's not a problem for me, hopefully USDT is not like UST. USDT is still stable so far because it may have very strong support, if you look at the supply chain that it has very much and can be added, so be careful when storing assets in USDT.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?
We can never tell their future to be honest.
Right now, a lot of people are trusting USDT, but don't get too confident.
Because at one point, USDT team admitted they had no 100% backing.
So we don't know the ultimate truth about their assets at the moment.
Just don't put all your funds in USDT or any other stablecoin, diversify as everyone is suggesting.
Most stable coin are backed by centralised bodies and that implies that they're not 100% safe and anything could go wrong with them just like they did to UST and the rest. But I'll prefer holding USDT and busd due to their market capitalisation and sustainability. I recall USDT should be around the top 10 in the coin market and that's a good indicator for me.
Worse frozen because USDT is centralized and this freezing event already happened before.
But even the likes of GUSD, BUSD and USDC can be frozen even in your very own address. I think the only one that is less likely to be frozen at the moment is DAI, but who knows what the developers might think in the future.
Two popular stable coins have lost their fixed value USDD / USDN
What could be a bigger effect in the market is what you say
What could be a bigger effect in the market is what you say
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?
To be honest, after the UST case I was afraid to believe in stable coins, it's just that until now I still use USDT to store my assets even though I don't trust anything but until now it still provides comfort and security when trading using USDT so it's not a problem for me, hopefully USDT is not like UST. USDT is still stable so far because it may have very strong support, if you look at the supply chain that it has very much and can be added, so be careful when storing assets in USDT.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?
We can never tell their future to be honest.
Right now, a lot of people are trusting USDT, but don't get too confident.
Because at one point, USDT team admitted they had no 100% backing.
So we don't know the ultimate truth about their assets at the moment.
Just don't put all your funds in USDT or any other stablecoin, diversify as everyone is suggesting.
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