Bitcoin Forum

Guys what do you all think about the most stable coin vs Binance stable coin.

Ohh, I thought that you are joking about Binance's stable coin but I just looked at the news and it's recent.
https://www.coindesk.com/binance-confirms-stablecoin-offerings-coming-soon-report
https://www.ccn.com/binance-stablecoin-first-hurt-tethers-dominance
Their coin will be backed by British pound, so it won't rely to dollars I think they're up into something just to change the game of the market.

Yes, I have read this article, nowadays more and more stable coins and according to the article above Zhou has no plans to make stable coins supported by the US dollar.
At present, Binance looks fast to develop their projects, there are many new tokens exchanging in the Binance chain and I think this situation will increase BNB prices in the future

In my own opinion this is another kind of promotion by CZ we all know what Binance do in the past few years and I believe in their platform this stable coin can give another pump up to Binance coin.
CZ is a great developer to improve their project after Binance chain now planning for creating stable coin.

Coin unstable, you think as she can be stable if the price is rising but not falls ? Falling prices or rising means instability. Stable coin is USDT and other stablecoin.

The use of British Pound as the base for binance's stable coin is a good decision. There are a lot of USD coins while USD itself is being susceptible of fluctuations. With current threat of trade war depending on a single fiat for stability would be counter effective. We'd still need more EURO and renminbi stable crypto currencies.

just trade to bitcoin and do not think to trade to other altcoins. your goal should be to increase the amount of BTC in your portfolio

Longterm and potentially the bnb token so many investors in bnb and its beauty exchanger binance is in the top 10 most beautiful exchanger and secure website so many tokens want to list their exchanger but it's just a gem and hindo as long as the binary token list is listed as there is more to it to do.

He has a wonderful business sense, he want to make binance an all rounder project, the best CEO in the cryptospace at this present time.

As far as I know, binance still testing this coin and not give offers for the investor to buy the coin but maybe I miss something here so I don't know the next update from binance. But if binance wants to release their stable coin, then I think they need to compete with the other stable coins, and that will not be easy as we know that the other coins have already got the market and binance still a new coins that will release at the market.

Binance has an extraordinary goal of cheap prices to date high and this will be the best coin with fast growth, while stable coins only become the benchmark of the USD.

If it's part of a strategy to change the cryptocurrency market game, it seems reasonable. But I just heard that I would get support from the British pound. A little confused me and still in the big question mark about the real purpose. What for? ???

Basically binance coins are not included in the category of stable coins, it's just that many traders like to buy binance coins so the price can always be stable on most exchanges, this is what can sometimes make binary coins beat other stable coins.

Binance is going to list first stable coin based on Binance blockchain, but they are also planning to launch their own stable coin.
How many stablecoins we really need?

This is definitely positive news and the course of the Binance coin itself will continue to grow. I invest in Binance because I am waiting for the price at the level of 50-70 dollars.

Binance seems to want to have all products on the market of cryptocurrencies under their control, but I hope they will have competitors.

Stable coin is not cryptocurrency it's just meant for the trading purpose, from the about posts I find that binance stable coin is going to be launched soon back up by pounds which might create a hyip for that but still it is stable coin and centralised so think twice before holding it.

They might be up to something and will be testing how the crypto market behaves towards brit pounds. Most wanted to be USD-backed but this time, it is pounds. So let's see how this new bnb stable coin will perform in the trading market...

After big efforts to create the decentralized exchange for their future goals. Now these kind of comparison are bumping in the marketplace. I do not know is there any stable coin from the binance platform? BNB is their official crypto I do not other coin called binance stable coin or something.
There are many stable coins already in the market, USDT, USDC, TUSD, PAX and etc...

I think binance stable coin will serve as a big challenge and a strong competitor of the existing stablecoin such as Tether, Gemini Dollar and TrueUSD. Binance stablecoin will attract a lot of cryto traders and with the outstanding performance of binance so far then I think the stablecoin may displace the existing ones.

I think binance is exploiting every downside of cryptocurrency to build his empire for trade, they should have enough fund in the bank to support the coin. The focus will be from Europe to the largest crypto market in Asia and its blockchain platform will grow to match Ethereum in a shorter time. The stable coin is in its right time towards the bull market to encourage store of value

I'll say it again. We don't need stablecoins. As USDt proved stablecoins can be easily manipulated and they have no real value like known altcoins because they have no trusted issuer and no limited supply.

Buying stablecoins is like investing in a shitcoin without doing any research. You trust that this company that is promising you value will deliver.

Binance wants to control most of the crypto sphere. You have to decide how to treat this. In my opinion there should be no crypto monopoly.

The more competition there is to Tether, which operates untransparently, the better. So I fully support Binance stablecoins. However, it seems the Facebook stablecoin will be a force to reckon with.

I see the chance for binance to grow will be wide open than Facebook stable coin because they never try cryptocurrency before, and that will their first time to involve in the cryptocurrency. So Facebook stable coin needs time before they can compete with the other stable coins. But for Binance, I think it doesn't need a long time to compete with the other coins because Binance already has the experience in the cryptocurrency.

yeah this is agood information, if Binance (BNB) be a stable coin that mean it will never get affect by market condition.
i hope with this stable BNB will grow up and up so on and be the bigger coin in cryptocurrency.
so i think like that, because the progress of BNB is really good.

Yes, I heard about this news about the launch of its own stable coin and I believe that Binance had to do this for a long time as this is a very promising exchange that will be in the top with time and having a stable coin should help this exchange to secure its assets. As far as I know that many projects are now thinking of this.

Yes, stable,especially over the last year it showed its result that while there was a correction of 1.5 years,it did not lose a drop in price at all,but only increased its value,so that investors who invested in BINANS did not lose during the correction not a penny,who holds tokens

Binance stable coin is a piece to fill up Binance ecosystem, including exchange, decentralized exchange and Binance chain. With Binance's fame and reliability, the stable coin will have huge advantages to compete again Tether, Pax or any other stable coins. I'd love to see how Binance will launche their GBP backed stable coin.

Yes it won't be backed up by dollar because it will be British pounds. Binance just never stops of innovating, they have many ideas that gives excitement to the market. First, it was their exchange backed up coin, next the IEOs and then there's DEX. And now, they have this idea of having their own stable coin that will be backed up by another currency and it's first of its kind again. Most of the stable coins has been backed up by US dollar, I won't say this is huge but most of their ideas are unique.

I still do not understand why they do not use the dollar to protect, right? Will using GBP be more profitable than USD? And what is the real benefit?

I keep more than half of my deposit in bnb and do not worry. This exchange has a very good business model, which is aimed at the years ahead.

We already have many stable coins, and if they want to launch theirs, good! it's another way of making more money, since they may not trust the ones already in the market, and they are planning to expand more.

Just to be new? I don't know the reason behind why CZ chose to pegged with GBP rather than dollar. I think it's okay to do it since most of the stable coins were pegged by US dollars. I don't see any issue regarding that but this might be the reason.

Binance do really mean business and it is currently one of the best exchanges. I am hearing about this binance stable coin for the first time and I think binance is about to have another impact on the cryptocurrencies market and since many whales are trading through binance I think binance really need that type of coin.

We can say binance is good exchanger because it is the top one or the number one exchanges but not all coins that are listed here is stable and dont dump as i know this cryptocurrency market has the volitility so no stable here and if we talk about investments i will go to this project because this is a good potential project the Dencoin tokens and this project will be sooner be successful.

Looking forward to this. Curious why cz have an idea to create his own stable coin since there are lot stable coin out there is already using by so many exchange and community. Let's wait for the usability and the advantages compared to other stable coin.

In my opinion, Binance does not have a priority opinion on this matter. They use new tools that they develop themselves. This gives hope that the price of BNB will rise.

You can’t be so sure about the price of this coin. it may be as unstable as any other coin in this market. Poloniex, too, was the best exchange and all people were using it.

I somehow do not like the fact that binance is conquering everything related to crypto they are getting stronger and bigger in monopoly and there is high need that we soon see some good competitors for binance otherwise binance will easily become the biggest crypto manipulator and will be able to control the market as and when it wants.

in my opinion BNB is very suitable for investment for beginners, besides that I also invest in the long term. for me bnb is a fairly stable coin compared to other altcoins like ethereum and bitcoin especially. the increase is also quite interesting for us to see.

I'm interested what is going on with that stable coin? Is it going to be something new or just another stable coin but backed by British national currency?

I don't consider it a stable coin. It seems to me that it has a good future and I keep it in my portfolio. I think it will grow in price.

Stable coin is the same, all of them backed up by real money in certain ratio if theres something that makes it different that must be the reliability of the comappny that issues the coin, so basically you dont need to worry about anything else because it is the same thing.

Somehow a stablecoin backed by british pound would be less volatile compared to existing stablecoins backed by usd. One main reason is that british pound is less volatile than usd. Thus, bnb stablecoin might lead to mass adoption once created and released.

Exactly the same question I am asking and there haven't been any reasonable explanations to that, so far we have had USDT, Pax, usdc, and Tusd all serving relatively similar purpose of providing a stable coin for hedging, creating another pair is very unnecessary

What do you imply when you say most stable coin ? Binance stable coin is not yet available, why the comparison with what you termed most stable coin? There are many stable coins pegged to FIAT currencies like USDT, USDC, TUSD, PAX which still maintain their value approximately 1$ for instance.

in my opinion it will be the same as the other stable but there is a possibility that stable coin binance will be popular quickly and may have a fairly good volume compared to other stable volume.

As you know most of stable coin maintain their value and almost little changes but Binance Coin is not stable coin, the price is fluctuated every day.

There is a high probability that by the end of the year this coin will cost more than 80 dollars.  Some analysts' forecasts are encouraging.  Judging by the Binance team, how quickly they develop their plans, that's how it will happen.

If Binance stable coin is backed by BNB in any way I will sell any residual BNB and pull out all my coins.

Not saying they would try something like that, but Binance has been known to have a bit of 'god' syndrome.

Anything is better than Tether, so Binance should do better.

Put your investments in Bitcoin and Etheteum as these are currently the best stable coin in the Crypto market. You may try your luck investing in some ICO too for an affordable starting with bonuses but make sure the projects are legit and the commodity are feasible to the masses.

I think this is another plan from Binance to dominate its crypto business which goals to monopolize the crypto industry. After success with its IEO platform, Binance Dex and now want to launch its stable coin. What's next? platform provider, Binance smart contract?

I do not think binance coin is a stable one. To my knowledge, stable coin is stable in price. I mean price will not fall despite a market meltdown or increment. However, I am always believer and supporter of BNB, and I think investment in the coin will be a good and wise idea. So do not get delay to invest in it.

Not really under their control and they are the competitor here. CZ brought a lot of things into Binance like IEO launchpad, DEX, Margin Trading, and now stable coin but he's not the one who created all these.

I think this is a kick promotion for bnb by cz. Cz controls happenings of bnb and that gives him leverage toske or mar bnb be it stable or not. If the stable coin is kept stable by the pounds I see it gaining more grounds

^^this.

what i would like to add is what people are missing most of the times about the risks of using other altcoins specially those coins that are fully centralized like this new coin or the old stable coins such as Tether.
not only they are shady but also they can disappear in a matter of minutes if the company goes down. and an exchange issued stable coin is that much riskier since exchanges are inherently unsafe and are going to scam and go down eventually like the dozens of huge exchanges that came before Binance and went down eventually.

Its because binance always make innovation and always want improve their product. If stablecoin launch in DEX, it will increase daily transaction volume in DEX and i think its good company and for daily trader. Trader can make profits daily from their trade by using stablecoin

I think stable coin like USDT and Stablecoin from binance is just the same thing. The different perhaps stablecoin from binance run in binance chain and perhaps use for binance DEX. If stable coin in binance chain use for DEX, i think its good news for trader

I can not give more ideas about it because it is known to everyone that the crypto market is unstable. Therefore, in this crypto market no currency can hold its value steadily. But it can be said that BNB coin is always increasing its price trend. Even their future development plans are being extended, so here are more investors and holders.

A stable coin is a stable coin to the best of my knowledge. Not necessarily to trade against profits and losses but rather balance trades and hedge funds in a market as volatile as cryptocurrency market. It doesn't really matter the ticker or owner of the stable coin because it will still behave as on

I think you are talking of the Binance coin itself and not the stable coin they intend to release. The way Binance coin is really going, I believe truly that they might spike that high and most especially with this new stable coin they are coming out with which I believe will be backed by BNB, which means for them to still have that stable coin, the user must have also bought BNB, Binance is doing everything possible to generate traffic for their coin and they are doing it perfectly. The IEO is already established and people can’t get to invest in any IEO without purchasing BNB, some of the factors like these are what will keep growing Binance.

Noticed very true, not a single coin can be stable, take for example the strongest, bitcoin and ethereum, as we see, all have a period of rise and fall, so using the word stable in cryptocurrency is not entirely correct.

Never thought of Binance coin as a stable coin, if you're going to take a look at Binance coins price you'll see how the price of it changes and if you're going to compare it to a real stable coin like USDT you'll see how volatile the price of it rather than the price of the USDT on the market.

in my opinion a stable coin is a coin that has a fixed price, meaning that the price of the coin will not be affected by the state of cryptocurrency. in other words it's like fiat money.

You just don't get what stablecoin is. Stablecoin is a coin backed up by fiat money whether it is USD or GBP whatever and by that will reduce the volatility. You say cryptocurrency is volatile, yes thats true but stablecoin is a different matter since most of them are centralized, manager by big company or organization with real money to back up every coin existed.

Binance is conquering it all, they have BNB that is skyrocketing, they are the biggest exchange in crypto, they have developed their own blockchain, their own decentralized exchange and now with stable coin? And in the meantime they are also preparing for the launch of Binance.US.

Capitalization of Bnb are relatively small. 4.9 billion against 28.8 billion Eth, of course, Ethereum will grow more slowly than Bnb. But in the long term Ethereum will bring profit more than once. And Bnb, for example, could hack again, and this hack could do huge damage to the token economy.

If compared to USDT, I think that the stable coin of BNB is still challenging to grow as USDT. Because the current demand for USDT is huge, all exchanges have paid separately for it

This is another dynamism I love about Binance. They keep setting the pace and always take a lead in bringing new approach to norms. I see some other projects following the same pattern once they see its success. However, I feel people are used to dollar conversion and might be something unusual for some people checking their portfolio in pounds.

It will be similar to BNB. It will be even better, because the stable money market is much smaller. While the mention of Binance's name can affect most coins on the market, consider its own money. It is Binance and whatever they create will attract attention.

For now I've seen nothing so special about the Binance stable coin. Also, I need clarification on something, what's the BTCB Bitcoin Bep2 all about, token pegged to Bitcoin? It sounds weird to me. Binance has been doing great in all ramifications anyway, so hopefully their stable coin won't be left out. CZ has really been hardworking.