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Title: What are the trusted stablecoins to save money long-term? Post by: coboguard on May 25, 2020, 07:07:05 PM I am looking for the best trusted stablecoins to save money long-term between 6 months and 1 year for reasons of personal worries.
I currently use PAXOS Standard, USDC are trusted ??? or not ??? the market may collapse in the near future as NuBits, StableUSD, USDQ, CK USD dollars crashed ! :o. I currently do not trust USDT Tether because the market is exactly the same ::). Trueusd is not trustworthy but what can you say? Dai, Sai is another stablecoin but it is very fragile if the market drops sharply especially on maker, ethereum, When do you think? Gemini Dollar a good stablecoin? very little exchange accepts it. Binance USD similar to paxos is the same. HUSD I don't know very recent ::) . it could also be useful for other people this discussion. When do you say what your opinions are on trusted stablecoins? I do not wish to add money to the bank because the tax applies :-\. Update 26/05/2020 read the page 2. Title: Re: What are the trusted stablecoins to save money long-term? Post by: tabas on May 25, 2020, 08:26:13 PM What's your reason to keep stable coins for long term? I'd cash it out if I'll just save it for long term with the same value. Those worries that you have with the other stable coins are applicable to every single one of it.
That's why I'm asking you what's the reason for keeping it longer. I'll choose my money to saved in bitcoin for long term than to save it on a stable coin. Title: Re: What are the trusted stablecoins to save money long-term? Post by: krisnajsadrak on May 26, 2020, 12:10:40 AM I am looking for the best trusted stablecoins to save money long-term, placement. I currently use PAXOS Standard, USDC are trusted ??? or not ??? the market may collapse in the near future as NuBits, StableUSD, USDQ, CK USD dollars crashed ! :o. I currently do not trust USDT Tether because the market is exactly the same ::). Trueusd is not trustworthy but what can you say? Dai, Sai is another stablecoin but it is very fragile if the market drops sharply especially on maker, When do you think? Gemini Dollar a good stablecoin? very little exchange accepts it. Binance USD similar to paxos is the same. HUSD I don't know very recent ::) . it could also be useful for other people this discussion. When do you say what your opinions are on trusted stablecoins? PAX could be a good options mate, but its better to keep your funds in crypto such as bitcoin or ethereum Title: Re: What are the trusted stablecoins to save money long-term? Post by: CryptoTech_ on May 26, 2020, 12:28:07 AM What's your reason to keep stable coins for long term? I'd cash it out if I'll just save it for long term with the same value. Those worries that you have with the other stable coins are applicable to every single one of it. I agree with you, if you want to hold the long term it is better to choose bitcoin or other large altcoin, because it will be more profitable if you look at the history of crypto, the price always goes up from year to year. But if you want to hold coins stable for the long term I think saving your money in a bank will be safer.That's why I'm asking you what's the reason for keeping it longer. I'll choose my money to saved in bitcoin for long term than to save it on a stable coin. Title: Re: What are the trusted stablecoins to save money long-term? Post by: bgaf on May 26, 2020, 01:43:06 AM Stable coins are not for long term hold, why would you hold those? Just buy a trusted platform such as btc, eth, ltc, etc, and all top projects on cmc. Stablecoins purpose is differently from what I mentioned. Even years from now, you can see the price of stablecoin barely moved cause thats how they work and its purpose. To give a pairing for other coins and manuever the possible outcome of the market.
But my favorite is DAI among the rest, but tether is mostly used on every market. Title: Re: What are the trusted stablecoins to save money long-term? Post by: meanwords on May 26, 2020, 02:50:50 AM Remember though, most stablecoins are based on real fiats so it's really not not profitable to invest in them. The only option you have is the GOLD project. It is a stablecoin based on gold market. Gold is probably the safest investment as they are not as volatile as the other market. This project isn't as long as the other projects but this is probably the best gold cryptocurrency stablecoin I've seen so far. They have an active team and an active community. They are pretty transparent about their gold holdings and you can check it 24/7. You can just check it out here (https://bitcointalk.org/index.php?topic=5161544) if you are interested.
Title: Re: What are the trusted stablecoins to save money long-term? Post by: bitmover on May 26, 2020, 02:55:54 AM holding stable coins.?
Stable coin is just a loan with 0 interest rate. Why don't you buy government bonds or credit deposit from banks? You will have near 100% chance to receive your money back plus interest, at least 2-3% per year. Title: Re: What are the trusted stablecoins to save money long-term? Post by: Tipstar on May 26, 2020, 03:17:40 AM lol, holding stable coins. Stable coin is just a loan with 0 interest rate. Why don't you buy government bonds or credit deposit from banks? You will have near 100% chance to receive your money back plus interest, at least 2-3% per year. It's the government most people are suspicious of. And as mentioned, though stable coins seems stable, it's not that safe for long term. To discuss about the current options, DAI could be a better one as it's escrowed by 150% of ETH. As the value of ETH on contract decreases, so decrease the supply of DAI and vice versa. Though it's future too depends on future of ETH. Title: Re: What are the trusted stablecoins to save money long-term? Post by: $anounimus$ on May 26, 2020, 04:16:08 AM By the way this is like a stable coin trend, similar to USDT but called name Paxos Standard and they have another functions. PAX can also be an alternative cross-country shipping and they always disclose public information by publishing financial reports on their websites.
It takes confidence in the claim so that it is truly supported by assets that are guaranteed based on the price ratio, all back to ourself. Title: Re: What are the trusted stablecoins to save money long-term? Post by: bittick on May 26, 2020, 04:29:18 AM PAX could be a good options mate, but its better to keep your funds in crypto such as bitcoin or ethereum I just vote for BUSD as it has backed by the trusted company but in this case, the main problem should be to search the reliable stable coin. USDC is also the best choice for him too. Title: Re: What are the trusted stablecoins to save money long-term? Post by: michellee on May 26, 2020, 07:47:15 AM I usually use USDT to keep the value of my money, and if I can see bitcoin or altcoin price is down, I will buy that bitcoin or altcoin so I can make a profit in USDT. But I don't use USDT for a long time because the bitcoin and altcoin price will always be volatile so that can help me to increase the USDT that I can have. If somehow, I can get a low price to buy bitcoin or altcoin, and in a few hours later, the price can increase so high, I will sell bitcoin or altcoin to make a profit.
Title: Re: What are the trusted stablecoins to save money long-term? Post by: brrzzz on May 26, 2020, 08:49:26 AM For the long term, there is nothing better than bitcoin, bought and forgot, and no need to strain to think what the team will come up with (as is usually done in projects).
Title: Re: What are the trusted stablecoins to save money long-term? Post by: tbterryboy on May 26, 2020, 09:39:05 AM I am not getting your point. What exactly do you want stablecoins to do when the USD crashes? Go up? You were told that stablecoins are 1:1 with USD and some of them are backed by the USD, so you shouldn't expect anything more or less. When the USD crashes, stablecoins that are attached to it will also crash and not increase; they will always try to follow that same line with the USD.
If you don't want that, then stablecoins are not for you, you should invest in volatile coins like Bitcoin, Ethereum, Bitcoin Cash, ChainLink and the rest of them. If you still want to go with stablecoins, the PAX you're using is already a really good coin. Stablecoins are for the purposes of saving your money within exchange as a replacement for fiats which means you must not try to make use of stablecoins outside of exchanges. Title: Re: What are the trusted stablecoins to save money long-term? Post by: Botnake on May 26, 2020, 09:43:53 AM I think that is risky to hold a stable coin for long term though it's not volatile compared to bitcoin.
I just don't understand, sorry OP, if you like to convert your bitcoin or altcoins into USDT and hold it for long term, better save it in your bank first. The thing is, there is no insurance here in crypto, while in bank, you can always be confident since your money is insured. How about open an online bank account then just deposit your money in an exchange that accept fiat, then you can start trading again. Title: Re: What are the trusted stablecoins to save money long-term? Post by: Yamifoud on May 26, 2020, 10:31:43 AM If that is your reason is to save form devaluing Bitcoin in the future, still not a good idea.
Because in the first place, holding your money in any online wallet is not safe. And 2nd thing is that, Bitcoin and cryptos will keep growing, in fact, you can see that it moves higher every year. Think that if you are holding stable coins for many years, surely nothing will happen unlike if you are holding Bitcoin the possible that you earn more ( double, thrice, or even more) while holding. Title: Re: What are the trusted stablecoins to save money long-term? Post by: bassbity on May 26, 2020, 10:48:10 AM If saving stablecoin is only to save the long term then I think it is not good in my opinion because of the same thing and there will be no profit, I save stablecoin when the market is volatile then I prefer stablecoin to secure my assets compared to having to hold on crypto coins.
I prefer not to keep stablecoin for a long time because the price will remain that much if it's done too. Title: Re: What are the trusted stablecoins to save money long-term? Post by: Ken_terrance on May 26, 2020, 11:06:36 AM Paxos standard is good but USDT is the most popular, I don't know why some people don't like or trust USDT, maybe it's because of centralized feature of the stable coin, another one i use is DAI and USDQ
Title: Re: What are the trusted stablecoins to save money long-term? Post by: Finestream on May 26, 2020, 11:25:12 AM USDT but probably I would not follow you about holding it for long term.
Holding for long term for me is my way of investing, USDT is not an investment so I can't trust to hold it for long term. You know the risk in the market, so why would you hold an stable coin? As for me, I am aware that USDT has a bad reputation for some, but I believe it's the most traders are trusting right now since it's the most popular. USDT has over $33 billion trading volume, if it's true that USDT is not backed 100% in fiat reserve, then we will have a problem. I posted the link: just to let you know I'm aware and that's the reason I would not hold for long term. https://www.coindesk.com/tether-says-its-usdt-stablecoin-may-not-be-backed-by-fiat-alone Title: Re: What are the trusted stablecoins to save money long-term? Post by: Schweins on May 26, 2020, 11:27:25 AM i use usdc, but i also know DNA is a good 0.1$ stable coin
Title: Re: What are the trusted stablecoins to save money long-term? Post by: LbtalkL on May 26, 2020, 11:27:52 AM I guess DAI is a trusted stablecoin, but it is not the most used stablecoin I guess it is still the USDT. But rumors about USDT is will not keep you rest assured. Most stablecoins has the ability to freeze any asset on the network including USDT, if you are holding it, I suggest to switch on other stablecoins. Well-known platforms like Binance have their own stablecoin BUSD I guess it is trusted too.
Title: Re: What are the trusted stablecoins to save money long-term? Post by: coboguard on May 26, 2020, 03:56:41 PM What's your reason to keep stable coins for long term? I do not wish to put the money in the bank the taxes are too important you have a loss of profit :-\. PAX could be a good options mate, but its better to keep your funds in crypto such as bitcoin or ethereum Paxos is the one I use. Yes there is less risk I still have in my wallet btc I keep some money aside. Stable coins are not for long term hold, why would you hold those? But my favorite is DAI among the rest, but tether is mostly used on every market. Keep the money aside because I have some worries, is for not having a only tax also :). Dai: Yes, it's a good coin, but there may be a problem because the coin is very sensitive if the ethereum suddenly falls with Maker ?. Dai after I recommend for the exchanges ;). The only option you have is the GOLD project. It sounds good but currently the volume and the exchange do not accept gold coins very much. I wouldn't want a tether gold without proof. There is also other like the paxos gold. I still prefer to buy real gold better with crypto ;D. By the way this is like a stable coin trend, similar to USDT but called name Paxos Standard and they have another functions. PAX can also be an alternative cross-country shipping and they always disclose public information by publishing financial reports on their websites. It takes confidence in the claim so that it is truly supported by assets that are guaranteed based on the price ratio, all back to ourself. Yes they are the only ones to give proof paxos, usdc, gemini dollar to give monthly proof of audit made in new york. I am not getting your point. What exactly do you want stablecoins to do when the USD crashes? Go up? No, I understand, it's like spending 1$, I don't want to make a profit or a loss. How about open an online bank account then just deposit your money in an exchange that accept fiat, then you can start trading again. It is a good idea but I do not wish to have the tax :-). i use usdc, but i also know DNA is a good 0.1$ stable coin Yes there is also a 0.02 cent coin Compound USD Coin (CUSDC) that avoids the risk of having a big loss. I couldn't answer everyone I'm sorry. Although I don't want to lose a lot or make a profit for the future, I prefer to keep some money aside. I still currently have some BTC in my wallet which I keep carefully. The long-term for me is like keeping 6 months or 1 year aside. Can be an alternative dogecoin 8) I did not manage to include the messages in the discussion correctly :-\. Title: Re: What are the trusted stablecoins to save money long-term? Post by: Ozero on May 26, 2020, 04:22:05 PM Savings generally should not be stored in any stable coins, since stable coins do not protect their holders from inflation. Stable coins are provided with the usual currency of the states. This currency, that is, the dollar, euro, pound and any other state currencies are subject to inflation, and if this happens, stable coins that are provided with these types of currencies, although they do not fall directly in price, however, they will reflect the price of these currencies taking into account their inflation.
Title: Re: What are the trusted stablecoins to save money long-term? Post by: southerngentuk on May 26, 2020, 04:37:02 PM I am looking for the best trusted stablecoins to save money long-term, placement. Why do you keep stablecoins in the long term? You do not want to make a profit in this market? If you want to hold long term then I recommend you to choose bitcoin or the top altcoins in this market, certainly in the future it will bring you many profits.I currently use PAXOS Standard, USDC are trusted ??? or not ??? the market may collapse in the near future as NuBits, StableUSD, USDQ, CK USD dollars crashed ! :o. I currently do not trust USDT Tether because the market is exactly the same ::). Trueusd is not trustworthy but what can you say? Dai, Sai is another stablecoin but it is very fragile if the market drops sharply especially on maker, When do you think? Gemini Dollar a good stablecoin? very little exchange accepts it. Binance USD similar to paxos is the same. HUSD I don't know very recent ::) . it could also be useful for other people this discussion. When do you say what your opinions are on trusted stablecoins? Title: Re: What are the trusted stablecoins to save money long-term? Post by: coboguard on May 26, 2020, 05:13:26 PM I guess DAI is a trusted stablecoin, but it is not the most used stablecoin I guess it is still the USDT. But rumors about USDT is will not keep you rest assured. Most stablecoins has the ability to freeze any asset on the network including USDT, if you are holding it, I suggest to switch on other stablecoins. Well-known platforms like Binance have their own stablecoin BUSD I guess it is trusted too. Yes dai it is the stablecoin when it is not found everywhere as binance it is only listed on coinbase or exchange ERC-20 example https://uniswap.exchange/swap. I do not trust the USDT 2017, 2018 the price collapses during a press on a rumor if one day a news from the press which speaks true then on the market of Tether we can see the sudden collapse. Bitfinex does not wish to answer questions on Tether. http://web.archive.org/web/20150315014640/https://tether.to BUSD is in partnership with Paxos https://www.paxos.com/busd/ I currently use Paxos, is USDC Audit report: Paxos standard: https://www.paxos.com/attestations/ after I do not know if Busd is based on the same audit as Pax? USDC: https://www.centre.io/usdc-transparency GUSD: https://gemini.com/dollar HUSD: https://www.stcoins.com/attestation/index TrueUSD: https://real-time-attest.trustexplorer.io/ Stasis: https://stasis.net/transparency/ Stably Dollar: https://www.stably.io/attestations Crashed! List stablecoin: https://cryptoslate.com/cryptos/stablecoin/ Title: Re: What are the trusted stablecoins to save money long-term? Post by: coboguard on May 26, 2020, 05:14:29 PM Savings generally should not be stored in any stable coins, since stable coins do not protect their holders from inflation. Stable coins are provided with the usual currency of the states. This currency, that is, the dollar, euro, pound and any other state currencies are subject to inflation, and if this happens, stable coins that are provided with these types of currencies, although they do not fall directly in price, however, they will reflect the price of these currencies taking into account their inflation. You are right ;) Title: Re: What are the trusted stablecoins to save money long-term? Post by: coboguard on May 26, 2020, 05:17:40 PM I am looking for the best trusted stablecoins to save money long-term, placement. Why do you keep stablecoins in the long term? You do not want to make a profit in this market? If you want to hold long term then I recommend you to choose bitcoin or the top altcoins in this market, certainly in the future it will bring you many profits.I currently use PAXOS Standard, USDC are trusted ??? or not ??? the market may collapse in the near future as NuBits, StableUSD, USDQ, CK USD dollars crashed ! :o. I currently do not trust USDT Tether because the market is exactly the same ::). Trueusd is not trustworthy but what can you say? Dai, Sai is another stablecoin but it is very fragile if the market drops sharply especially on maker, When do you think? Gemini Dollar a good stablecoin? very little exchange accepts it. Binance USD similar to paxos is the same. HUSD I don't know very recent ::) . it could also be useful for other people this discussion. When do you say what your opinions are on trusted stablecoins? I prefer to keep some savings aside. Title: Re: What are the trusted stablecoins to save money long-term? Post by: Divinespark on May 26, 2020, 05:19:24 PM Hold stablecoins in the long term is a bad option. You are wasting your time and money with it, choose the top altcoins in this market and hold them. Or you can buy bitcoin and ETH to be more secure in the long term, I believe in 1-2 years your profits will increase at least 2 times for them.
Title: Re: What are the trusted stablecoins to save money long-term? Post by: coboguard on May 26, 2020, 05:34:09 PM Hold stablecoins in the long term is a bad option. You are wasting your time and money with it, choose the top altcoins in this market and hold them. Or you can buy bitcoin and ETH to be more secure in the long term, I believe in 1-2 years your profits will increase at least 2 times for them. It is hard in the current context the market remains down since 2018 after it has gone up 2019 is 2020 so again in profit today it is falling it is normal that it will happen a few months after the halving the increase in price. I still have a few btc on the wallet which I keep preciously :). But I also prefer to keep money aside for a long term from 6 months to 1 year stablecoin. Currently the rest of the money is placed on paxos is usdc if the price drops or arrives something i still stay on my guard. Title: Re: What are the trusted stablecoins to save money long-term? Post by: someone703 on May 26, 2020, 05:54:41 PM If you want to keep Stablecoins to preserve your assets. USDT will be the best choice, this stablecoin has great liquidity and is trusted by many people. You can hold it for a long time without having to worry about it collapsing or losing value
Title: Re: What are the trusted stablecoins to save money long-term? Post by: coboguard on May 26, 2020, 06:09:36 PM USDT for me no!. I wish to keep money aside for the long term for me that means between 6 months is 1 year. It's just that I wouldn't put it in a bank and have the Tax. Although I keep some BTC in the wallet. I made 2 different types, 1 profit, 2 no profit is in case something goes wrong in the future like a bank with no profit only in crypto placement.
Title: Re: What are the trusted stablecoins to save money long-term? Post by: semobo on May 26, 2020, 06:56:27 PM I am looking for the best trusted stablecoins to save money long-term between 6 months is 1 year. Stable coins are never trusted enough to store your asset value for long term, since it is not really backed up by government they just promise as they would be so its better hold them in fiat.But I don't understand what is the point of holding a stable coins for year? Literally you will lose 5% of total value due to inflation.I currently use PAXOS Standard, USDC are trusted ??? or not ??? the market may collapse in the near future as NuBits, StableUSD, USDQ, CK USD dollars crashed ! :o. I currently do not trust USDT Tether because the market is exactly the same ::). Trueusd is not trustworthy but what can you say? Dai, Sai is another stablecoin but it is very fragile if the market drops sharply especially on maker, When do you think? Gemini Dollar a good stablecoin? very little exchange accepts it. Binance USD similar to paxos is the same. HUSD I don't know very recent ::) . it could also be useful for other people this discussion. When do you say what your opinions are on trusted stablecoins? Title: Re: What are the trusted stablecoins to save money long-term? Post by: SyndicateLabs on May 26, 2020, 07:00:45 PM USDT is a good option for you to buy and hold. But it will not be possible for you to make a profit in the future because its value will always be stable. And if you do not want to deposit money in the bank, this will certainly be a good choice for you to hold your money
Title: Re: What are the trusted stablecoins to save money long-term? Post by: tabas on May 26, 2020, 07:28:38 PM What's your reason to keep stable coins for long term? I'd cash it out if I'll just save it for long term with the same value. Those worries that you have with the other stable coins are applicable to every single one of it. I agree with you, if you want to hold the long term it is better to choose bitcoin or other large altcoin, because it will be more profitable if you look at the history of crypto, the price always goes up from year to year. But if you want to hold coins stable for the long term I think saving your money in a bank will be safer.That's why I'm asking you what's the reason for keeping it longer. I'll choose my money to saved in bitcoin for long term than to save it on a stable coin. There's no fluctuations in stable coins or there's a very little, a centavo of fluctuation. Title: Re: What are the trusted stablecoins to save money long-term? Post by: beerlover on May 26, 2020, 07:45:14 PM For saving money I would honestly suggest you keep your money at your bank account. If you do not want to get into crypto all together and invest, why would you want to deal with stablecoins at all. Stablecoins are there for one reason, when you do not want to get out of bitcoin market as a whole but you want to get in whenever you need to very quickly, with USDT or stuff like that you can do it very easily hence why people use them.
But if you do not have any reason to be in bitcoin or crypto in general, all you want is to save some money aside and keep it there, I do not see a reason to not keep it on a bank, it is safer that way as well and you could even get a tiny interest as well, and banks rarely ever not pay you your money whereas exchanges or whatever could get hacked very easily. Title: Re: What are the trusted stablecoins to save money long-term? Post by: ije07 on May 26, 2020, 07:50:58 PM PAX is not a bad choice, but why do you like stable coins as an investment in the long run? I think you need to reconsider and use a stable coin as a trading partner. and for investment in the long run you need to invest with top altcoin only.
Title: Re: What are the trusted stablecoins to save money long-term? Post by: omone1 on May 27, 2020, 06:25:35 AM I can't keep my fund in stable coin for too long. I don't have absolute trust on them like I have always trusted my ailng fiat. I only use stable coin during a bad market day or for trading pair that has only stable coin, otherwise, I am.always on bitcoin or any other good altcoins.
Title: Re: What are the trusted stablecoins to save money long-term? Post by: OasisDre on May 27, 2020, 08:26:30 AM If you want to safe money for a long term I recommend switching your coins back to Fiat, they are more safer this way than using stablecoin, usdt is centralized and that's what makes it more dangerous but you can find other decentralized stable coins too, do your own research
Title: Re: What are the trusted stablecoins to save money long-term? Post by: bluebit25 on May 27, 2020, 10:28:28 AM USDT, BUSD ... these are the safest stablecoins that you should choose. But I recommend not holding altcoin in the long term because it will not bring you profit. Should choose to hold Bitcoin or some of the top altcoins in this market
Title: Re: What are the trusted stablecoins to save money long-term? Post by: DoublerHunter on May 27, 2020, 01:35:34 PM USDT, BUSD ... these are the safest stablecoins that you should choose. But I recommend not holding altcoin in the long term because it will not bring you profit. Should choose to hold Bitcoin or some of the top altcoins in this market ^ The only I know is USDT coin but as I heard this is not safe in holding long term. Some of the altcoins can be safer than the rest however saving it in any stable coin for the long term I will also agree with the others of withdrawing it in cash instead. Depositing your money in the bank may be subjected to a tax however the risk of losing it will be reduced as well instead of leaving it in the crypto space. Saving your money in a bank may give you low profit or interest but if you will not have any eyes on your stable coins for the long term you may have no idea what may happen on your coins which is on the risk of losing it unknowingly.Title: Re: What are the trusted stablecoins to save money long-term? Post by: freedomgo on May 27, 2020, 01:52:53 PM Saving money on stable coins, big no for me, I would never dare do that, saving money is only good if you put it in the bank, at least you can earn some interest and you can go after the bank as you can see their physical business and you can ensure they really have the money since they are regulated by the government.
Try to evaluate your decision OP, you might learn your mistakes the hard way. Invest rather in BTC or potential altcoins you like, except stable coins of course as they are not an investment. Title: Re: What are the trusted stablecoins to save money long-term? Post by: Shallow on May 29, 2020, 02:17:15 PM Going down to the fact, i think it is a bad idea keeping funds in stablecoins for a long time, stablecoins are always used within a certain time frame or most of the times for trading but for long term it is not advisable; instead the best coin to hold for long term is Bitcoin. Nevertheless, it is your opinion, and you know best and since you don't trust USDT, then I can suggest DAI, although it is not huge like USDT but I think it will serve a good purpose. Lastly I still maintain my stand, going for Bitcoin is the best step.
Title: Re: What are the trusted stablecoins to save money long-term? Post by: Psynthax on May 29, 2020, 02:23:10 PM I can't keep my fund in stable coin for too long. I don't have absolute trust on them like I have always trusted my ailng fiat. I only use stable coin during a bad market day or for trading pair that has only stable coin, otherwise, I am.always on bitcoin or any other good altcoins. exactly, trusting money to a private company, it's just even worse than trusting money in a centralized bank where atleast they comply with the regulation and law but private company could turn 180 degree just by the owner or the executives decision alone and I'm not going to risk that.Title: Re: What are the trusted stablecoins to save money long-term? Post by: bussybuddy on May 29, 2020, 07:13:27 PM I only trust USDT in this market, so if you want your assets to be safe in the long term, you can choose USDT and hold. But it will definitely waste your time and opportunity, if you hold the top altcoins in this market then I believe you will get more profits from it.
Title: Re: What are the trusted stablecoins to save money long-term? Post by: StephenJH on May 29, 2020, 08:01:00 PM To tell the truth, l could not understand your statement, l mean what is your purpose of holding stable coins for long term investing. There will not change price of coins, that is why it is stable. Maybe you can prefer any other altcoins instead of stable coins, it can be worthwhile to hold top altcoins, but never stable coins can give you any profit.
Title: Re: What are the trusted stablecoins to save money long-term? Post by: Lanatsa on May 29, 2020, 08:06:48 PM I am looking for the best trusted stablecoins to save money long-term between 6 months and 1 year for reasons of personal worries. Tether (USDT)USD Coin (USDC) TrueUSD (TUSD) Dai (DAI) Paxos Standard (PAX) You can choose on what suits you but if i were you i wont tend form my funds to sit into these things for too long even it do talks about stability. To tell the truth, l could not understand your statement, l mean what is your purpose of holding stable coins for long term investing. There will not change price of coins, that is why it is stable. Maybe you can prefer any other altcoins instead of stable coins, it can be worthwhile to hold top altcoins, but never stable coins can give you any profit. In investment talks then its totally nonsense if you do try to consider on putting up your funds on stablecoin but as we have read up on what op's been telling that he do tend to save it up between 6 months to 1 year and also doesnt like to worry about taxes then there were several stable coins that most people know like USDT. Title: Re: What are the trusted stablecoins to save money long-term? Post by: Valzador on May 29, 2020, 08:24:18 PM To tell the truth, l could not understand your statement, l mean what is your purpose of holding stable coins for long term investing. There will not change price of coins, that is why it is stable. Maybe you can prefer any other altcoins instead of stable coins, it can be worthwhile to hold top altcoins, but never stable coins can give you any profit. he wants to save money in crypto so that it is not taxed, and maybe he intends to save not for investment, I find no other purpose besides savingTitle: Re: What are the trusted stablecoins to save money long-term? Post by: electronicash on May 29, 2020, 09:58:53 PM To tell the truth, l could not understand your statement, l mean what is your purpose of holding stable coins for long term investing. There will not change price of coins, that is why it is stable. Maybe you can prefer any other altcoins instead of stable coins, it can be worthwhile to hold top altcoins, but never stable coins can give you any profit. he wants to save money in crypto so that it is not taxed, and maybe he intends to save not for investment, I find no other purpose besides savingor he could be waiting for the right time to buy the coins. during the bear market since the early 2018, many of the traders are simply putting their coins into stable coin and waited for the momentum. and when it hit $3k they started buying BTC back. a friend collected 300BTC while he was just a bounty hunter who learned how these traders do it in times of uncertainty. Title: Re: What are the trusted stablecoins to save money long-term? Post by: imoet on May 29, 2020, 11:54:19 PM I am looking for the best trusted stablecoins to save money long-term between 6 months and 1 year for reasons of personal worries. I currently use PAXOS Standard, USDC are trusted ??? or not ??? the market may collapse in the near future as NuBits, StableUSD, USDQ, CK USD dollars crashed ! :o. I currently do not trust USDT Tether because the market is exactly the same ::). Trueusd is not trustworthy but what can you say? Dai, Sai is another stablecoin but it is very fragile if the market drops sharply especially on maker, ethereum, When do you think? Gemini Dollar a good stablecoin? very little exchange accepts it. Binance USD similar to paxos is the same. HUSD I don't know very recent ::) . it could also be useful for other people this discussion. When do you say what your opinions are on trusted stablecoins? I do not wish to add money to the bank because the tax applies :-\. Update 26/05/2020 read the page 2. You use stable coins for facing personal worries. It will be more secure if you save it in other place too. But I also suggest you to invest in something huge investation. You should not worry about tax. I assume you worry about it. Everything has the risk. Title: Re: What are the trusted stablecoins to save money long-term? Post by: Twinkledoe on May 29, 2020, 11:59:04 PM I don't think there is one stable coin that you can trust long term. All of them can collapse anytime as they are centralized. Once the owners or one of the owners decides to leave and sell off his share, it will incur huge change for that stable coin and might not recover. Also, we don't know the absolute truth about their claims of being backed by certain fiat money. What is the assurance that they are indeed saying the truth about their reserves, even USDT admitted at one time that they were not fully backed by US$?
Title: Re: What are the trusted stablecoins to save money long-term? Post by: khiholangkang on May 30, 2020, 01:40:24 AM or he could be waiting for the right time to buy the coins. during the bear market since the early 2018, many of the traders are simply putting their coins into stable coin and waited for the momentum. and when it hit $3k they started buying BTC back. a friend collected 300BTC while he was just a bounty hunter who learned how these traders do it in times of uncertainty. If he waits for the right time to buy coins, I think now is also the right time if he will hold it for the long term. Look at the history of Bitcoin prices always go up from year to year.Title: Re: What are the trusted stablecoins to save money long-term? Post by: Chuky92 on May 30, 2020, 08:15:55 AM Owing to the fact your title attracted my attention, I will start with it first; the answer is none, and my reason is that, I have come to the understanding that any long term holding is good to be done with major coins starting with Bitcoin as the first choice or altcoins starting with ETH, but more preferably Bitcoin. Now in another opinion, it is the truth that many things have been said about USDT, but why is it still being used by a good number of people, therefore my opinion is still with USDT as the better one for long term. I wish you change your mind and go for Bitcoin instead.
Title: Re: What are the trusted stablecoins to save money long-term? Post by: kotajikikox on May 30, 2020, 08:30:06 AM I am looking for the best trusted stablecoins to save money long-term between 6 months and 1 year for reasons of personal worries. I currently use PAXOS Standard, USDC are trusted ??? or not ??? the market may collapse in the near future as NuBits, StableUSD, USDQ, CK USD dollars crashed ! :o. I currently do not trust USDT Tether because the market is exactly the same ::). Trueusd is not trustworthy but what can you say? Dai, Sai is another stablecoin but it is very fragile if the market drops sharply especially on maker, ethereum, When do you think? Gemini Dollar a good stablecoin? very little exchange accepts it. Binance USD similar to paxos is the same. HUSD I don't know very recent ::) . it could also be useful for other people this discussion. When do you say what your opinions are on trusted stablecoins? I do not wish to add money to the bank because the tax applies :-\. Update 26/05/2020 read the page 2. You dont like Tether USDT?then what option you want to hear from us?look at tether now always taking the number 3 spot from ripple so what do you want here? and besides why look for stable coin when you can invest in Good moving currencies like Bitcoin and ethereum? make your mind and think twice before putting your money in stable coins because you might regret that in future. Title: Re: What are the trusted stablecoins to save money long-term? Post by: bitbollo on May 30, 2020, 08:33:24 AM @OP why store long-term?
Have you ever read and understand the full "Terms & Agreements" that using any stablecoin require? I mean, you're assuming double risk. First that FIAT Collapse or it become more worthless. Second that you violate some rules inside their long long list of condition that you're accepting when using this stablecoins. Third if you store it in an exchange you are not totally controlling it (and more over they are operating without any legal rules = no complaints!) Fourth if you store in their wallet, you're just using a centralized coin that can be each time sized, or they can just stop to update = risk to be hacked Fifth , these are centralized project and they can always mod. their rules and add "taxes" or other tools... I mean you're accepting their rules when start to using their "Product". etc etc etc. I am quoting just one T&A (edited) since I don't want to talk about any in particular, but I don't want assume all of these risks for having a not regulated FIAT money in my portfolio. If we are using bitcoin and other crypto is the reason WHY we should try to bypass the classic financial system. Quote The Times 03/Jan/2009 Chancellor on brink of second bailout for banks Using stablecoins it's something totally different from using crypto.Quote XXXX reserves the right to “blacklist” certain USDC addresses and freeze associated USDC (temporarily or permanently) that it determines, in its sole discretion, are associated with illegal activity or activity that otherwise violates the terms of this User Agreement (“Blacklisted Addresses”). In the event that you send USDC to a Blacklisted Address, or receive USDC from a Blacklisted Address, XXXX may freeze such USDC and take steps to terminate your USDC Account. In certain circumstances, XXXX may deem it necessary to report such suspected illegal activity to applicable law enforcement agencies and you may forfeit any rights associated with your USDC, including the ability to redeem USDC for U.S. Dollars. XXXX may also be forced to freeze USDC and/or surrender associated U.S. Dollars held in Segregated Accounts in the event it receives a legal order from a valid government authority requiring it to do so. .... You are aware of and accept the risk of operational challenges. XXXX may experience sophisticated cyber-attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to the USDC Services. You understand that the USDC Services may experience operational issues that lead to delays, including delays in redeeming USDC. You agree to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. You agree not to hold XXXX accountable for any related losses. Last but not least, there are a lot of concerns about the future of these stablecoins (the actual version we are seeing during these days) just to quote one of the last news/analysis that I have read about them... https://www.ibtimes.com/do-crypto-stablecoins-threaten-financial-stability-2980148 Title: Re: What are the trusted stablecoins to save money long-term? Post by: Raflesia on May 30, 2020, 09:54:34 AM I don't think there is one stable coin that you can trust long term. All of them can collapse anytime as they are centralized. Once the owners or one of the owners decides to leave and sell off his share, it will incur huge change for that stable coin and might not recover. Also, we don't know the absolute truth about their claims of being backed by certain fiat money. What is the assurance that they are indeed saying the truth about their reserves, even USDT admitted at one time that they were not fully backed by US$? Indeed stable coins in cryptocurrency are centralized so when the team dies it will all just collapse, but I see this will not happen what you say even though these stable coins are not supported by banknotes or USD then it will remain more stable at the same thing its in dollars.I think in an era like this going digital, stable coins will be more interested in cryptocurrency. Title: Re: What are the trusted stablecoins to save money long-term? Post by: Mister.Satan on May 30, 2020, 12:00:34 PM You kinda get the general idea about stable coins and how 'trusted' it is with lot of replies in here. Since you have your own circumstances regard to tax and bank so I guess if I have to make a choice, USDT then. If sh*t hit the fan of stable coin like USDT, you bet you're not alone in losing your assets and don't buy any crap with a slogan 'trusted stable coin'.
Title: Re: What are the trusted stablecoins to save money long-term? Post by: imstillthebest on May 30, 2020, 12:27:04 PM I don't think there is one stable coin that you can trust long term. All of them can collapse anytime as they are centralized. Once the owners or one of the owners decides to leave and sell off his share, it will incur huge change for that stable coin and might not recover. Also, we don't know the absolute truth about their claims of being backed by certain fiat money. What is the assurance that they are indeed saying the truth about their reserves, even USDT admitted at one time that they were not fully backed by US$? Indeed stable coins in cryptocurrency are centralized so when the team dies it will all just collapse, but I see this will not happen what you say even though these stable coins are not supported by banknotes or USD then it will remain more stable at the same thing its in dollars.I think in an era like this going digital, stable coins will be more interested in cryptocurrency. dont wish it will happen guys lol . i dont believe it is owned by 1 owner only but it can be owned by different people or what we call team so if there is something bad happen to 1 owner , other members can get the ownership to continue the coin running . price wont also collapse obviously because for what if they call it or built something that is stable / stable coin . being centralized isnt a big deal for most of us but as long as this coin was useful we will always use it Title: Re: What are the trusted stablecoins to save money long-term? Post by: ethereumhunter on May 30, 2020, 12:55:22 PM or he could be waiting for the right time to buy the coins. during the bear market since the early 2018, many of the traders are simply putting their coins into stable coin and waited for the momentum. and when it hit $3k they started buying BTC back. a friend collected 300BTC while he was just a bounty hunter who learned how these traders do it in times of uncertainty. If he waits for the right time to buy coins, I think now is also the right time if he will hold it for the long term. Look at the history of Bitcoin prices always go up from year to year.We can suggest him to buy bitcoin, but it seems, he doesn't want to add more bitcoin in his wallet. If I were him, I would buy more bitcoin, especially if the price is down because that will be a big discount for me to get bitcoin. After that, I will hold the bitcoin for some time until the price can jump to the higher price so I can sell it right away. After I get the money, I will withdraw the money into my bank account, but I don't want to withdraw all of the money because I want to buy bitcoin again if the price gets dump after it increases. But we have a different strategy, and I think he knows what he did. Title: Re: What are the trusted stablecoins to save money long-term? Post by: cryptonx on May 30, 2020, 01:54:17 PM why choose a stablecoins to save your money in long term mate ?
as i knew if we save stablecoins the value will be same from time to time Title: Re: What are the trusted stablecoins to save money long-term? Post by: SacriFries11 on May 30, 2020, 02:07:15 PM You kinda get the general idea about stable coins and how 'trusted' it is with lot of replies in here. Since you have your own circumstances regard to tax and bank so I guess if I have to make a choice, USDT then. If sh*t hit the fan of stable coin like USDT, you bet you're not alone in losing your assets and don't buy any crap with a slogan 'trusted stable coin'. If his going with stable coins for investment then what's the purpose of investing if its not gaining. I don't understand his point in making that decision and its looks like he find a wrong token to invest with. He should try to go straight in investing. Choose BTC, ETH or BNB. Don't be greedy in tokens thats offer you much profit just a small amount of time. Title: Re: What are the trusted stablecoins to save money long-term? Post by: Google+ on May 30, 2020, 02:11:24 PM why choose a stablecoins to save your money in long term mate ? Coins that have stable price movements are more likely to not be able to make a profit because I think traders are profiting from utilizing the ups and downs of cryptocurrency prices, when there is no movement I think it will only be a waste of time because the money you invest cannot grow.as i knew if we save stablecoins the value will be same from time to time |