Bitcoin Forum

Sometimes I begin to imagine instead of transferring my money into the bank to keep for a number of days or months before usage in form of savings that nothing will add up instead it remains stagnant or the bank charges me even more. Is it not better I save them on a stable coin such as the USDT?

Please what do you think? Will I end up losing my funds one day if I do so?
To me I feel it's good way to save.

Please what's your opinion on this?

Saving in USDT when you are in the US has no difference except for the bank charges, which you might be charged for maintenance, because the USDT is still pegged to the United States dollar, so if its value is reduced, it will also be reduced no matter what form you save it on.
 
But if you are from a country like mine where the local currency is losing value on a daily basis, I will advise you to save on stable coins, not just USDT but DIA or any other stable coin. It's safe, provided that you don't leave them on a centralised exchange. You should be in charge of the security, so losing it or not losing it depends on how you handle it.

But just so you know, casting all your eggs in one basket is not a good idea. You can convert what you won’t be using on a daily basis and save it; those that you need to spend for your daily expenses should be kept in your local currency and bank account for easy use.

It is a bad idea. I wouldn't do that. Saving money in stable coins would give you no return. But if you keep your money in banks, the banks will give you at least some interest back. If you really want to save money in cryptocurrency, I would suggest you to save it using Bitcoin or ETH. These currencies have the potential to go up and give your decent return. If you do not get any return on your settings, it doesn't make sense.

Also USDT is a centralised cryptocurrency. So I wouldn't recommend saving money on that.

From the start it's good to make a savings but why saving money on anything investment you must have a stable jobs and when you invest make sure to save money which will not affect you before another salary comes.
Like the topic saving ever penny is not a good ways of saving because you must think about your expenses on the month, investment are not guaranteed even when they are stable there will be bad times and good times as price of Bitcoin or USDT are fluctuating most times. Reason why they are going higher this past months is because we are heading to the bull market so every crypto coins are trying to high so they can meet up. Diversitifing your money keeping some on a good stable investment and that have lower risk can be good, so you don't have to put all your penny on any coins when they are stable because they won't be stable for ever.

It is undoubtedly a good decision.  Hope you get good results from your decision to deposit your money in stablecoins.  It has no chance of losing your money and hopefully your money will grow by a certain amount.  Keeping money in the bank means facing a lot of trouble. Also there is a possibility of the bank going bankrupt. You can deposit money in USDT, BTC without doubt.  And for beginners should not engage in trading.

There are some suspicions regards the legitimacy of stablecoins and how sustainable they are on long term, what means they aren't a 100% safe investment, and an exit scam is possible. Moreover, by investing in stablecoins, you aren't overcoming inflation along the time. Your purchasing power is decreasing anyway. A better idea would be to invest every penny in Bitcoin, because this way your purchasing power will be rising on long run, what I imagine to be the main goal of every investors who care about their patrimonies and long term goals.

Best to just hold Bitcoin since from your explanation,  interest generation is your main goal,  this is very important and for sure there are a lot of limitations with stable coins,  and hope you are aware that even your USDT it can be freezon in your wallet,  this is because it is a centralized stable coin,  so the best form of savings that secure you a good future return is to but volatile assets like Bitcoin or other properties.

So don't keep your money in your bank account, where inflation will have heavy impact on it rather put it in something that is worth the while I'm terms of investment.

I think it depends on what region you are living. Like if you are living in underdeveloped countries and there is a lot of inflation, then I think you can hold a certain amount of stable coins to cover the cost of your emergency situation and daily needs. Because I think it is better to atleast make the money into cryptocurrency and keep it in your wallet than keeping money in the bank.
In my home country I exchanged 1USD=86BDT and now 1USD=125BDT, I kept several thousand dollars worth of money in the bank which has depreciated against the dollar due to inflation. So currently I don't keep my money in the bank to cover up my emergency situation, I am converting it to stablecoin and holding it in my wallet and when needed I exchange it through P2P trading.

Where do you live? Because if it's a nation with huge inflation and usdt is more stable then your currency, then it's a good choice. Or if your government is near collapsing usdt would be a safe bet as well. unless you are not a citicen in restricted region, which makes it harder for you to cash out. As you might just get your assets frozen.

If you can handle slight change of losing few % of it, but have a high change to make few %, i would put it on btc or eth. Because you don't want to fomo in when btc goes over 100k or or eth over $10. Then things really get unstable.

If you live in 1st world country, i don't see why a bank would be a bad option. Lots of them won't even charge you if you don't do anything with your money. What ever you do, i wouldn't cash out and keep physical cash. That has several issues, and more you own, more issues you have, starting from security. But you will also face the the problem of proving the origin of that cash if you'll try to re-invest it.

USDT has been stable for a few years now and many people are using it to save funds. Anyone who holds his funds in USDT in my country will benefit because my country's currency has lost almost a hundred per cent of its value within a few months. However, it is risky to keep your funds in centralised currencies.

For me, it will be better to even buy and keep physical or fiat dollars than to keep them in a centralised platform that you are not sure of. These centralised platforms can be attacked or go bankrupt and you will end up losing your money. Another challenge is that most of these stablecoins are not backed by real-world assets as claimed by these firms. 

Its more better having your money in USDT instead of fiat in the banks, but its more profitable to make a decision of leaving it in bitcoin for some period instead of stablecoin, this is the order to their preference, you can only loose your money when its under a centralized exchange or if in banks under the authority of the government, they can choose to seize this asset from you, but when you're making use of a non custodial crypto wallet, you're safe.

In a country that experiences high inflation which leads to depression and the loss of value of local currency, the best option is to keep your funds in a more stable currency like the dollar, Euro or pound. Keeping small funds in exchanges might be ok but I would rather keep it in fiat dollars in banks. Most of the banks in my country are backed by deposit insurance companies, so you can always get your funds back in case of bankruptcy but there is no such assurance in keeping stablecoins in a centralised exchange. But when it comes to keeping high funds for a long time, Bitcoin is the best option. 

Your suggestion that OP should consider investing in Bitcoin will be okay if he is considering keeping it for a long time. But from the original post, the author is considering keeping his fiat in stablecoins for a short period to avoid bank charges. Bitcoin price is unstable which is why it might not be nice to keep it for a short period. 

USDT is a good choice if you are staking them on binance. If you do that though, you are not really holding crypto. You are basically holding FIAT in a FIAT savings account and collecting interest. Just because you do it on binance doesn't mean it is any different than what you do with banks. Crypto FIAT is nearly the same thing as real FIAT... I am saying "nearly" because it is all on paper. There are some hidden risks and binance is paying you interest for the risks you carry.

If you don't want to switch one bank for another, then do self-custody. Withdraw everything and hold your own private keys. Be your own bank.

It depends on the circumstances that surrounds you, how is the situation of the banks in your country? Does the fiat currency you use experiments a high level of inflation when compared to the US dollar? How much it could cost you to convert your fiat to stable coins? Depending on the answer to those questions, we could tell you if this is a good idea or not, but you do not really add enough details to your post so we can give you the best answer we can.

Big No, don't risk it all, as there has been lot of controversies going around Tether and whether they have USD reserve for all the circulating USDT or not since all the audit reports posted are from themselves and not from any third party. It can go down like USTC anytime I am not a fan of USDT as I have seen in the past how it fluctuated in Indian market when there were rumors about banning it and if it really is backed by USD then these news shouldn't bother USDT. Bitcoin would be much better alternative as it could yield decent profit and secure as well.

No.

If it's on a stable coin then that remains the value of it. But choose only the popular ones with high liquidity because if you don't, then that's the worry that you'll have and might happen. Because it did happened to some uncommon stable coins that has decreased their own value and became volatile.

If it makes you feel good then do it. Because what works for you might be the best option that you have to do instead of relying on others strategy on what makes them feel nice.

Storing in stable coins when you are where you use the dollar as your means of payment is no different than storing in a bank except your currency is different from the dollar which is an option .
But if in the end this is used as an investment then in my opinion this is also not a good option because after all we must be aware that investing in stable coins will not get any benefits even though you will also not experience losses if the dollar does not experience a decline in value but in the end if you really want to invest why do it in stable coins because it will only waste time .
There are still many other alternatives, especially for bitcoin that can be used as an option to be used as an investment because you save in stable coin it is the same as saving in a bank only there is no monthly deduction in it.

I don't want to make it sound like not educated but why are you buying USDT to save? Do you really think it's logical to save money in the bank or USDT just for because you want to save money? I think you need to have a rethink about that decision, you save in the bank you gain nothing and if you save in stablecoin, you don't gain anything either, they are not different from banks and it's the same risk of losing money in banks is the same you might see stablecoins, God forbid if they flag your wallet for reasons you might not even know but that's what you get for using centralized assets.

Here is my advice for you, if your native currency is usd, you better invest that money or you live it their, usd and USDT don't have much difference, you might even have challenge of been depeg in the future, so stay with your banks or invest that money into anything good. Give Bitcoin a trial but don't tell anyone that I told you to buy but trust me, a trial will convince you.

Nice contributions. I think I've learnt Alot here.

I think making stable coins my savings wallet would just add up to my stress but rather I'll choose to invest percentage of my long term savings on Bitcoin.

That's the wisest choice that you can ever do.

If you have that savings that you're doing then, it's best to invest a percentage of it that you can afford for your long term Bitcoin savings that whatever plan you have in the future, you're free to use it.

Just this time, the amount of Bitcoins that you'll be getting is going to be lesser compared to several months and that's because of the price of Bitcoin going up but that's normal and part of the growth.

Well, its your money, so its up to you what you want to do. If you just want to save it, then better save it in a bank only because USDT, although a steady currency, still has changes over time, so your money could increase or decrease depending on the market value of USDT. Because saving your money in USDT is nothing different from banking, just your money in USDT can change, but not drastically. If you want to invest, it could make your money grow if done correctly, but yeah, if that money is so important to you that you can't afford to lose it, then better save it in a bank than in USDT because there is still a risk there. But I recommend that you don't put all your money in savings because you are letting your money sleep without growth. Well, that's a practical way of life; if you want to have more, then take the risk to invest.

Instead of saving your money in the bank, it will be better you save them in stable coin just as you explained.
Although stable coins are also not completely reliable but they are far better than given your money to banks for usage.
You can buy bitcoin with money if you are willing to hold the bitcoin for a while before using the money, you can gain as a result of that instead of keep stable coin that will not add value.

Isn't a good stable coin technically will be centralized? Given that it needs to be always stable.
But the one thing worry me is even the most trusted of them, USDC, can also got depeg.

Finding stable coins and saving my money is preferable to me without losing even a single naira when it supposed increase. If you see me saving money in a bank, it means that money does not belong to me, it might been someone given to me to hold for a short time of period and that kind of money person know fit use it to purchase coins because if you use it to purchase coins and the owner of the money says that is needed, you will be completely bewildered.This type of money is better to save inside your bank so that whenever the individual needs it, you can simply withdraw it for him without any constraints.

The only reason most individuals who have enough money do not want to keep it in the bank is because when they need it, such as in an emergency, the bank manager will begin informing clients that there is no money in the ATM. That is why most individuals choose to save their money within their homes, while some may save it in stable coins.

I don't think saving money (especially in long term) in a centralized cryptocurrency is safe, there is a risk that Tether stop their supporting USDT or there is some problem like the Terra Luna things. If you talking about the saving that you use to fund your daily needs, then I prefer saving money on the bank it is easier to withdraw it. If you talk about saving money in a long term like to buy house, or education fund and it is  a long term saving, then I would just save it in Bitcoin. I know that there is a risk that Bitcoin will worth less or even zero when no one wants it, but at least I don't depend on single entity.

It depends on how you see this as accuracy and usually we put money in the bank only for daily or monthly needs. Because even though banks ask for more, sometimes we still need them, especially for those business people who carry out transactions almost every day. If you are able to trade USDT in the short term it will be much better so that the money you have does not need to be placed in the bank. This decision is entirely up to you and I will not try to say anything further because however banks are still quite needed now.

Losing funds like what you mean is because you panicked and sold stablecoin assets in a sharp decline. Stablecoins are quite risky because they are quite speculative, even when you save money in the bank there is a profit sharing from interest and stablecoins may not necessarily give you a profit.

That's what I think. Stable coins are fine if you have made profits with bitcoin or other cryptocurrencies and want to lock them in, but not to save with them systematically and in the long term. For that it is better to save in fiat, as they devalue the same, they give you interest and the guarantee is given by the state, not a company. Remember how the Luna token, which was also a stable coin, ended up.

I actually thought you've forgotten about bitcoin, no one is discouraging you to save or not but if you want this savings or rather investment in long term, bitcoin investment should be recommended and it also serve as a store of wealth so you're not just saving your money but at the same time you're accumulating wealth.
Hope you understand the basic terms of investing and you should read more often on investment threads to help guide with your investment journey, my advice here is buy and hold with the money set aside for savings not for personal needs, don't extend your limit as an investor.

If you save in USDT you will be protected from the inflation of FIAT money. Because the rate of inflation has increased in every country now.  Due to which those who are saving money in the bank, the value of their money is decreasing day by day. so you can save your money in Bitcoin and not USDT if you don't need to spend your money quickly. But in my opinion one thing you can do is keep your money in 50% USDT, 25% FIAT, 25% Bitcoin. Spend FIATs on your daily needs. And USDT and Bitcoin will save for the future. But yes, since crypto is risky, think twice about whether you should invest your money in them. then decide

Well it's good when you can sell your asset to USDT when it's on a new ATH after that you can wait to invest at a good entry price, for long term saving on USDT might not be a good idea but if you find an opportunity don't forget to take it. Also saving in a stablecoin has a risk because even a stablecoin backed by fiat with a ratio of 1:1 is able to dump below 0.95$. Crypto world is very risky so we need to prepare for any risk that can happen.

Well yeah I agree, for country like ours that has lesser value of local currency compared to dollar it's on our advantage and saving it into some stablecoins like USDT is a much safer way than converting it to my local currency that is currently losing value. But for now I am still holding Bitcoin alone and will only convert it to USDT when new ATH in 2025 will come then wait for the correction to reverse the process.

Yes, you can keep your money in stablecoins instead of keeping it in your bank. You also won't pay any fees for keeping the money in your bank.
But you have to be careful when keeping it in your wallet because you have to be fully responsible for your wallet. Maybe you can store your wallet on a hardware device and only you know where you store it.
You should be able to choose the wallet carefully and not tell many people because it is related to security issues.
But you have another option to save your money by investing it in bitcoin. By investing in bitcoin, at least your money will increase and that is the profit you will get.

Are you saving for an emergency fund?

Personally, I believe a bank account is the best option due to its easy access in case of unexpected expenses. While USDT may be a stablecoin, its usability for emergencies depends on how easily it can be converted to cash in your country. In my opinion, the hassle of conversion outweighs the benefits of cryptocurrency for emergencies.

However, investing in cryptocurrency with a full understanding of the risks involved can be a good option for some people. Remember, it's always crucial to choose an investment strategy that aligns with your risk tolerance and financial goals.

I mean, it might be a good idea since compared to savings in banks that could easily gain a higher interest compared to just putting your money in some banks that would probably interest probably 0.1 % up to 1% I guess on some banks, But putting money on stablecoin would I think will be an even more higher risk since your for sure going to hold on an exchange or wallets that is offering high interest, Not to be biased but I guess there is a higher risk on putting money on exchanges and wallets compared to banks as well as USDT, In my opinion, it's better just to put it on Bitcoin not just putting it on USDT unless you're just planning to put it on USDT for a while just for short term storage I think it would work perfectly.

There are some E-wallets that are probably better since it is backup by banks that offer a savings interest of up to 15% I guess it is going to be better at least its a liquid funds on your banks and you could easily access it for something like emergency funds. I quit putting and saving USDT unless I'm using it on trading just to convert, start and just accumulate Bitcoin it is better with everything.

If you put money in the bank, you can save some money from the bank, but if you buy some token with that money or invest in Kipta, then you will have a chance of losing, and if you invest, you will gain again.  .  In that case you should think about one thing because if you are skilled in this matter then you must invest because in the bank you will not get as much profit as I invested. In the current situation grandpa if you can invest in Bitcoin you will have money or you will lose money.  H will be less likely.

Depends on your intention since if you want to be safe without worrying anything then it maybe good for you to save some penny into stable coin. But just think about how many opportunities you provably waste if you select those stable coins since there are volatile coins that are worth to buy since there's huge potential for top coin especially for bitcoin to happen. So if you are also a risk taker then maybe choose bitcoin as your option since who knows once bitcoin gain another hype due to some positive news that might happen then you could potentially stretch up the profit you can get from it.

But its still up to you to decide regarding on what option you choose since there's a lot of suggestion here and for sure that you can learn from multiple opinion posted by people.

If unsure about the future and afraid to lose your money maybe this is not your time to think about that option. So what I suggest is better try to learn more about crypto so that you can figure out or decide for yourself on what are the best thing to do with your money.

It's no different from saving at the bank. USDT is pegged to the US dollar. By the way are you American? If not then I can recommend you save money in USDT or dollar balance. Other countries' currencies are weak against the dollar. If you are Indonesian with rupiah, or Nigerian with naira or Indian with rupees then I suggest you to save in USDT. That's much better because the exchange rate of other countries' currencies continues to decrease in value every year.

When it comes to the so-called "stablecoins", you should know that most of them are centralized to the extent that it is very easy to "freeze" them even if you "keep" them in your crypto wallet. The only possible advantage is that you can transfer them relatively quickly and cheaply without using your bank and fiat. I advise you to read -> PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets (https://bitcointalk.org/index.php?topic=5204055.0)

Bitcoin is definitely an interesting investment if you first understand what you are actually investing in, and accordingly keep your private keys in a non-custodial wallet. It's certainly not easy to be your own bank, but then again, it's not as difficult as it seems to some. Whatever you do, remember that it is not wise to keep all your eggs in one basket ;)

That's the advantage for knowing USDT since we can use this as an option if we are not sure on our local currency since somehow this can give us what we want on a currency. But the only problem there if  this stable coin would able to last for many more years since there are cases for some stable coins that they collapsed so maybe this is the risk that we need to watch for especially if we try to choose this option just to have saving that ready to use in future if we need some amount of money. Many prefer bitcoin especially if they asked this here since we all know how great bitcoin is especially for long term hold or investment so provably from this coin we can get more decent result.

Not to go against with USDT or stablecoin then we do know that depegging could happen. This is why when it comes to security and having that sense of confidence then i would put it on bank. The only
thing that you should really be expecting that you wont really be getting any returns when you do save up your fiat or having that 1-2% annual. So if you could really be able
to deal with that then its your choice but if you are someone whose really that going for some returns then it would be your choice on taking up some risks on dealing with some volatile coins.
If you are really that doesnt want to take up some risks then it would be better to save up your fiat into your own bank, just be able to bare up with the inflation on which i could say
that its inevitable. The longer you do save the lesser value that your money you could have.

Probably, no one know what the developer will do in the future, they can do anything because USDT is centralized.

You can stake your stable coins, it gives you a higher return compared to banks interest.

No, not always. There's a decentralized stable coins i.e. DAI, the creator can't control your coins when you hold it in your non custodial wallet.

However, any stable coins can de-peg except it completely backed with fiat.

You just made the best decision that will keep increasing your money as long as you're planning to save on a long term, Bitcoin is the best digital asset that you can hold that will keep giving you ROI in the future. Saving your money in stablecoins is good if the value of your country's local currency is not stable and is depreciating compared to the us dollar, in that case stablecoins can be a good choice, but Bitcoin is better because if held on a long term, the value will keep increasing and make the holder richer.

Please don't put every penny that you have in any investment, including Bitcoin, it's important to save some percentage of it in your local currency to cater for daily and unforseen expenditures, it's not every business that accepts digital currency as payment for goods and services.

saving your money in usdt is the same as saving your money in dollars, the value can go up and down depending on us economic and political conditions. and indeed, if you save your money in usdt, you will not be charged service fees or other fees which are usually charged by banks. however, storing money in usdt in a wallet or exchange also carries risks, for example the exchange goes bankrupt or someone hacks your wallet.

so if you plan to save in usdt, you have to pay attention to the reputation of the exchange or the security of your digital wallet. as long as you can think about it, saving into usdt is probably a good idea.

There are banks that pay you some % of positive balance, offer you cashbacks and so on, so, it's not like it will remain stagnant. Overall, it's really not a good idea to save lots of cash because inflation decreases its value over time. It's not a good idea to save USDT either because not only inflation affects your savings in this case but USDT itself is not a very trusted currency and god knows what happens behind the scenes. There is a possibility that one day USDT will crash like Terra USD because we don't know how much reserves Tether (USDT) holds and we don't know what might happen when too many people decide to cash out USDT.

But he will probably have to pay some fees when he decides to move those USDTs from one place to another, and maybe conversion rates, in my country we don't use dollars. I guess if he wants to save some dollars in the bank he will probably open a saving account and depending on how long he plans to save there the interest rate he receives will be lower or higher.

But I am not for saving in stablecoins generally. It's good to have some cash on the side just in case, but those who have long-term plans should save in BTC, ETH, or some other perspective coin. I think it's good to diversify and to have some low-cap coins in wallets as well, who knows... if we choose good that can turn out to be very profitable one day.

Considering the regular gain of the dollar over most fiat currency, it's now obviously the best decision to take most especially when your currency has a lower value compared to the fiat. But doing that requires that you keep out a certain portion of your saving in your fiat form while the rest that you wouldn't be needing anytime soon can be converted to the dollars which has been very much positively volatile and has favoured most persons that are currently earning in dollar.

Since I don't really know anything about your country, I can't speak to the dollar rate. If you think this is a good decision, then you should start saving in USDT. When you decide to keep your savings in USDT, I will advise you not to spend it all; instead, try to keep some cash in your bank account. This is because, in this situation, you need to have a stable job; you shouldn't sell your USDT when you need money to pay for other expenses. Don't use all of your savings to buy USDT, even if you still have a well paying job. Since there is no interest paid on savings at the end of the month and banks continue to charge fees, many people in my country who are aware of USDT value would rather hold it than save cash in their bank accounts. However, if stable coin is worth saving in your country, you can save in USDT instead of cash.

I find that keeping money in the bank and converting to USDT both have their own pros and cons. Choosing which option is better depends on your financial goals, risk tolerance, and investment time horizon. I think that if you have a plan for your financial goals, risk tolerance level and investment time, then be really serious and, most importantly always stay responsible for your actions. Because I am active member in the crypto field, I really encourage everyone to do their own research so they can diversify their choices, don't be too fixed and distinguish what is the best choice, if they are right can help you complete it.

There will be potential for loss, even though it is small but the possibility is not 0% so you have to still apply risk management, what happened to Luna (UST) is a lesson that stable coins also have that potential, if I were you I would save it in Bitcoin, ETH and gold. Don't forget to always update your data security. Don't get tired of saving, in some time you will lose your money because of your inaccuracy. I hope this helps.

It depends on the location of your country. There are some countries where the inflation rate is so high that the value of their money decreases after a certain period. During that scenario, it is better to convert your money into USDT to avoid losing its value.

Dollar is the most famous local currency and that is the reason why its value is better than the rest. It can recover once it drops but I think its price range will not exceed over 2 dollars, so if we are looking to make it as an investment, better if we will just do it on the real assets like Gold or BTC. Another reason on why they are a better choice is that they are unaffected by the rising rates of the inflation.

I forgot that he can also stake his stable coins on some platforms that allows it, and this allows him to earn more than what holding a dollar alone can offer. There is only a risk on it if it's a third party are the ones that hold our stable coins. The same risk can also happen in banks.

This is also related to the country you live in because if your local currency is losing value against the dollar, you need to do something to protect the value of your money. You can make sure that your money doesn't depreciate or depreciates less against inflation. As I said, what you want to do will depend on where you live. You are the best person to know this.

If you want to save, you should have more than one option. There has been speculation about stablecoins for years. We don't know if these speculations are true or false. Just in case, you can reduce the risks by not investing your savings in just one method.

While some forum members are completely against the idea of converting their money to stable coins due to their centralized nature, we must recognize there are scenarios in which this move could be justified, and a weak currency paired with a high level of inflation would be a reason that is good enough to make this move, as there are people that are simply not ready for what bitcoin can throw at them and if they invested their money in it they could lose it rather quickly.

It depends how risky you live your life. There is a portion of people in the investment arena who got rich by following the "everything is good in moderation" type strategy, where you diversify a bit so you don't lose everything if something causes a shock to one particular market. Anything that has gone up like a rocket could drop back down like a stone - it works both ways. Some people had a lot of faith in Bitcoin in the very early days, bought a lot and made themselves mega rich because of it and those people will forever be grateful to the experience it gave them. However it is basically an intangible and non-productive asset which you are merely hoping to sell to someone else at a higher price, instead of say gold which can have many physical uses or companies that can pay out profits every year/

I don’t think he is ready to take the risk as investing in bitcoin could go either way and I don’t think he is ready to run at loss so saving up in bitcoin is not ideal for him/her. It will depend if he wants to save up for a long time or a short period and if it’s not money he would need for his daily activities.

You need to understand that USDT is a stable coin that is pegged with dollar price so if you are a US citizen then there is no use saving in USDT because the value will still be the same but it can be profitable when you are from a different country where your country’s currency value is less than the dollar value. Take for instance The dollar rate comepared to my country’s currency Naira keeps increasing with time so a Nigerian saving in USDT can be profitable.

Bank deposits are not lucrative because fiat currency suffers from inflation, and guess what - that same inflation is applied to the stable coin too, because it's pegged 1:1 to a fiat currency. But it also suffers from some downsides that are not present in banks - banks are often insured and guarantee withdrawals up to a certain limit, and banks are legal entities that can be sued. While stablecoins are much less regulated and you could indeed lose money if they crash. Especially dangerous are the so-called algorithmic stablecoins which lost their peg a lot of times in the past and supposedly got hacked, or maybe those were inside jobs.

Well, it all depends on the country where you live, like for example, if you live in the USA, I honestly see no sense in saving in crypto usdt since usdt, and mostly every other stable coins are 1 - 1 backed with/by the US dollars.

But if you live in other country, for example, a country like Nigeria where the local currency have been losing value on a daily basis against the us dollars, and also losing purchasing power, then it's definitely a very good idea to save your money (not intended to be used on or for any investment) in usdt, or any other more trusted stable coin where it could, atleast appreciate against the local currency and make you some profit when finally converted back to fiat to be used for what ever purpose it was meant or kept for.

Personally, I've been saving in usdt and some other trusted stable coins, than I save in my local currency, and I've never had any regret for doing so, so, this I would say is a really good idea, but like I initially said, it depend on the country where you live.

The only issue you would be having or risks when storing up your coins on USDT on which is "Depegging"

Here's a good read about Stable coins depegging.
https://academy.binance.com/en/articles/why-do-stablecoins-depeg

Ex. USTC
Once  you have put up your money into this or stored up and it depegged then say goodbye into your money.
I would rather store up my money into a bank rather than on risking or storing it on a stable coin
but since im that making some trades then it wouldnt be that a bad idea to storing your coins on stable coins specially
if you do able to trade up some coins directly, you could dive in directly once you do see an opportunity and getting out easily
on the time that you cant handle out volatility.

If you are looking for profit then you can invest in stable coins but it is not advisable and as you said, yes when you save money in the bank it doesn't increase in any value and it is stagnant but according to people if you are using current account and you have enough money like $6,000 and above, your savings use to increase every month so with that you can make profit. But comparing Fiat bank with stable coins, I will take fiat bank because it is more saver than stable coins.

For bank it is guaranteed that you money is save but in stable coins, " Not your key Not your coins" slogan is always there for you.

Are you going to do that from time to time? That's a bad idea and hectic but you know that you'll just keep it there and you'll have to pay some fees for these transfers regardless of what chain you're going to use with USDT. The effort that you'll have to do it with every penny you have as you say will take time and money. Why not just do it on a lump sum and wait again for a long time for you to save it there so that you save time and money and effort for doing that?

Saving money in the bank is not advisable because fiat currency loses value almost everyday and one would not be happy for it. Investing in stable coins is a nice idea because it's either the value increase or decrease. Current account are like salaries account and when you are keeping money in a current account banks normally use them to do business and they also get profits so the percentage you are receiving from a current account are still your money because the banks use them to do business.
I know of a fixed deposit account, you can save money on a fixed deposit account and you won't have access to your funds until the date you set to withdraw them, you can't liquidate the money you saved in a fixed deposit account because it's impossible unless you sign a message and you wont be able to receive the profits.

In terms of nominal you won't feel a loss, but in the end, in terms of value, you will definitely feel the impact of the loss because if we save in stablecoins its the same as saving money in fiat.

We know that ultimately stablecoins are the same as fiat currency because they are ultimately fiat in the form of cryptocurrency. So by saving your money in stablecoins it will not make you lose the nominal value of your money because in the end the money you deposit in stablecoins will remain the same as current fiat but in terms of value in crypto when compared to some altcoins or even bitcoin it will definitely experience a decrease because we know that until now the depreciation that has occurred in terms of value will continue to occur, especially during the Bitcoin bull run situation and begins to continue its positive trend after several years we have been in it. rough.

Keeping your money at a bank and keeping it in the form of a stable coin is equally as bad, since you are relying on a third party to not scam you and run away with your money, and while banks have a longer period of existing and they may seem more reliable, anyone that has tried to withdraw all their money from a bank knows how difficult this can be, so if anyone wants to save their money in fiat form for some reason, they better keep it as cash and hide it on their own home.

Saving is definitely a good thing to do. Because from here on can be used as a shield against the coming bad times at any time. Although it is not possible to acquire great wealth through savings. But because of that, I can't advise you to hoard all your achievements. Because if you can invest some part of your savings in crypto currency then there is a strong possibility of getting high returns from here. So I don't think any part of the opportunity should be kept unused where there is an opportunity. But in this case, investment should be done in profitable areas by observing the past investment picture, otherwise one has to face serious risk.

This is not a bad idea you can save your money on stable coin like usdt. coz we are very bored for money infliction of fiat money and also for expensive bank charge. but if you save your every small amount on stable coin or USD then money inflation will not able to touch you. so i will suggest you hold your money in doller. If we keep money in the bank, the value of money gradually decreases because we are constantly seeing the inflection of our local currency  And the amount of this inflection is increasing day by day. so without any worried save your money on USDT but not too much

You mean something like emergency fund, right? You have a point, That's the purpose of savings in our life but I suggest, if you have spare money and you want to put it in something worth it, you should invest it in crypto, but make sure that you are fully aware how does it works and do some research first, do not believe what you heared to others, it's better to have your own research and do it on your own.

Anyone can save there money on stable coin but not there full life earning money. they can keep there 15-20% of savings  money on stable coin and rest 80% on another assets like land, gold etc.because we can't 100% trust any crypto coins. we saw UST crashed. it was also a hyped stable coin and many investors and holders loss there big amount of money by this. so no one should keep there 100% of earnings/saving s on cryptocurrency.

If you don't live in the US, I don't think it's a problem for you to save using USDT in crypto because the exchange rate can go up or down, but remember, you must always be vigilant about the safety of your money, it's better if you save in crypto only like btc or ETH , not in stablecoin,

Savings diversification is also necessary to minimize risk. There are no guarantees when we invest, but we can minimize the risk. On the other hand, when investing, we also have to think about saving to guard against unexpected things, and that is the first order of business before setting aside to invest. therefore many people who are greedy actually invest completely, but in the end because there is an urgent need to take from that investment, that is the wrong thing

But the only problem with that is he can't get anything since the he might get a stable value since he choose to save in stable coin. But if he decide to bought small fraction on bitcoin and think about he just do a little bit same like DCA method for accumulating then maybe he's savings will be worth it in future as there's a good chance for his money to grow more since we know bitcoin would give a good returns for those people who decide to hold this coin for long term.

But its still up for people whatever he like since at the end his peace of mind towards what he want to deal is important and if he think grabbing USDT is fine then that should be ok at least we give an option so that people could read this would think about what's more better.

In my country, banks normally don't charge anything when a customer is just keeping money there, and a lot of transfers are free as well. So there's no reason to go on exchanges and buy USDT when you can, if you want, just store the USD in a bank account.
I want to point out that it's impractical to invest in a stable coin because its whole point is to retain value over time (it's not going to grow). Stable coins also have an additional risk compared to fiat because they are allegedly backed up by some physical assets (or real fiat banknotes) to ensure stability, but there's no transparency in these processes. So the USDT might crash when dollar stays fine.

I also often save my money in stable coins before spending it. Because I don't like saving my money in the bank. Because I realized that my country's currency was slowly depreciating. Inflation really has an effect on the currency in my country. Although many people don't realize it. But I personally quite like paying attention to it. especially when the snacks I buy have increased manifold in a few years. So saving in fiat at the bank really makes me afraid that the value of my money will decrease. But that doesn't mean saving in the bank is unsafe. I still feel that banks are still safe. but the most important thing is that we save in a currency that is more resistant to inflation. Dollars might be an option. And saving in fiat dollars or stable coin dollars will be the same.

I don't see any big difference between saving money in stablecoins and saving money in a bank account. Maybe the only difference is that the money in your bank account have a deposit insurance, so when the bank goes bankrupt the government will pay you back a part of the deposit. You have no such insurance, if the stablecoin implodes and becomes worthless. Nobody knows whether or not Tether has 100% reserves to back up all USDT in existence. The main role of stablecoins is to be used by the crypto traders for convenience. You basically use a stablecoin to hedge the risk of having increased price volatility on the crypto markets.

I guess the advantage with saving your money in USDT is probably the simpler step of converting it to the cryptocurrencies that you sought after to be honest, its just that.
overall its the same as saving your in money in bank but remember that bank sometime have insurance if things goes south meanwhile with algorithmic stablecoin might pose some risk though
there are stablecoin that are pegged to real world asset doesn't mean they doesn't have risk though since they fall under management of certain company anyway.
overall if its not for long term both are definitely good enough option but if we are talking about long term maybe decades then there might be some concern.
instead of saving in stablecoin why don't you save in real crypto like bitcoin though who knows your coin might be climbing in term of value in the future.
since everyone doing exactly that.

Many people on Bitcointalk advise that it's not a good idea to hold USDT, there are better alternatives like DAI and USDC. USDT is not 1:1 pegged to USD and it means that there is a high chance if many people suddenly try to convert their USDT into USD, it will collapse. As I said, it's better to choose other stablecoins and store them on your Ledger or other hardware wallet. Btw if it's not a problem, I would hold USD and buy Bitcoin when I would want.

Some maybe put some money in stable crypto since maybe they think in future they have something to harvest then use for their future investment. But since we are dealing crypto here much better if they go on more reasonable coins out there so that once everything goes up they can get a good profits once their bought coins go up. But since we can't control what people like to do with their spare money then I guess much better if they stick with their initial plan since nothing wrong with it.

Then he should do some research regarding on what he want to do since for that he can determine about what are good investment without relying to much on the suggestion given by random people online.

depending on what stablecoin you choose, we don't know in the future even banks could go bankrupt, what's more, stablecoins, in my opinion, are the same as saving your money in fiat, the risks are the same depending on whether you choose to save physical or digital fiat.

Is not a bad idea to put your savings in stable coins but maybe not exchanges and not all of it as well in cryptocurrency. Put some in USDT bank account, some in a fixed deposit for year in the bear and could acquire some real estate. Anything online might not be the safest, even the wallet, so divide your profit and put it everywhere. For some countries that follow cryptocurrency investment of there citizen and seek tax on it, hold on to your profit till the tax evades.

Saving in stablecoins is like saving in USD, it’s a guarantee that you lose purchasing power every year through inflation. It’s actually even worse because you don’t have the security of a regular bank & small interest that a regular USD savings account gives you. Save in Bitcoin, dollar cost average every month over a number of years & you are close to guaranteed to outperform the USD, USDT & all traditional fiat savings outlets.

In my opinion i think it is not a bad idea. But it all depends on the stable coin you are saving it and the value it would be if converted to your local currency. Lets say for instance you are using the USDT stable coin just know that there will be am increase in the price of your holdings to your local currency if dollars start increase and vice versa. Which means the value of your holdings will be affected by dollars price changes in the stock market.

https://www.bvnk.com/blog/stablecoins-vs-bitcoin#:~:text=Unlike%20other%20cryptocurrencies%20like%20bitcoin,them%20more%20suitable%20for%20payments.

I would love to emphasize on how stable coin, as the name implies, is just as its name sounds, stable. Your currency saved in stable coins will remain same without adding up interest as BTC does because it works as a stable asset one can keep just like other cryptos but they aren't just any other cryptos too.

BTC is volatile as are other crypto currencies, one minute the price is up, the next, it is down. Within the few minutes, one can become a millionaire or simply loose and become broke or bankrupt from trading their crypto.
That's why instead of using a more volatile decentralized asset that isn't a regular bank to save money or make payments which have same  value as the local Fiat, stable coins serves just fine.
Some of the top five stable coins one can use remains the Tether (USDT), USD Coin (USDC), Binance USD (BUSD), Dai (DAI), and TrueUSD (TUSD). Others exist, but these are more accepted.

The best option for fiat is to convert to USDT rather than holding local currency because the value of other currencies is getting lower but USDT can still maintain its value, in this era it is increasingly easy for us to save money in any currency and we must choose this option to maintain the stability of asset values we save it in USD/USDT, because when we need money we can exchange it easily and the process is very simple, so don't accumulate local currency in the bank because it will be very detrimental to yourself.

The highest interest a bank is going to give you on a savings account will not be more than 4% in average, and your money will be invested into another company or given out as loan to other customers with high interest rate. As for USDT, if you stake your money, you have an annualized rate of investment at 7% maximum, and they used your money to do what they want, they can loan it to a venture capital to invest in other tokens, now with this do you really need banks and USDT? You don't because in the long run, the two of them are the same just operating under different uniforms.

If you don't have plans to invest your money, live if in your local bank and if it's going to be there on a long term levels, kindly invest it into Bitcoin or any other investments outside crypto. That's the only way you can see good use of your money after sometimes.

I say it all depends on the stable coin that you put your money in. Although in all honesty I don't think you should keep money on stable coins for extended periods of time especially if the very reason you're in crypto in the first place is because you want to earn more money. Putting them on stablecoins and not even making them work by staking them on a trusted liquidity pool will kill your profit momentum and may very well cause you problems in the future as well in regards to trading confidence.

Stablecoins have their perks and upsides, but if you wouldn't gain anything of substance from those upsides then they aren't worth scat at all to you. What you should do instead is seek savings on a brick-and-mortar bank because at the very least when it comes to security, your money's safe and insured, and while it's negligible, your money could earn dividends while it's marinating inside the bank. All of these things you wouldn't really be able to achieve when you put your money on stablecoins, and in the case with Luna's USD stablecoin, it might even happen that you lose the value of your stablecoin when it stops getting pegged towards the real life currency it's supposed to represent in the crypto industry.

All fiat currencies do this, and stable coins that are supposedly backed by those fiat currencies suffer the same problem, so putting your money on USDT only makes sense if your local currency is weaker and it is experimenting a higher level of inflation than the dollar, however you must not forget that such practicality comes with a cost, since there have been several stable coins that lost their dollar parity and they never recover it, causing the people that invested in those coins to lose a massive amount of money.

it is not bad idea to put your savings in a stable coin but it is obvious that stable coins does not have the kind of increment a Bitcoin have intense of long-term studying or serving your money, it is better for you to store your money in one particular place without yielding anything, it is better for you to risk the money for any cryptocurrency investment that you know that the coin is very potential but it will take like long time duration before it can manifest or matured to get profit, what I will advice people is to take a risk in any investment, a risk take always meet up with opportunity that will elevate him or exploit him

Op, you will have varying answers and the answers might just be opposite to each other and you will wonder whey. This is the reason you will have inconsistent answers;

• Someone from the States will give an answer different from someone from the third world countries
• Someone who is privacy concerned will ask the type of stable coin you want to buy
• An economists will have a different view of no returns, etc

But you have to know your country and what is best for you.

USDT is also not a completely stablecoin as its value also fluctuate. Apart from its value - you also need to consider the risk factors involved in it instead of expecting USDT to be a safe asset. Imagine if your wallet is locked for some reason or you lose access to your wallet - that's much worse than storing fiat in a bank.

Instead of making USDT a store of value asset - then I tend to expect them to buy assets or buy assets that have the potential to give it value growth. Bitcoin and many altcoin can be an investment option - but buying physical assets for the long term is also a good investment option instead of keeping fiat in the bank.

Building on what Nwada001 and Kingsden has said, it all depends on your location (country) because you will only benefit if you save in a stable while you are in a geographical location where the local currency is get devalued just like my country. it if you're in the US then it probably a bad idea because it almost the same thing with having fiat in your possession.

Perhaps if you're interested in building interest or making profit, then investing is the best option than just save in fiat or stablecoins, you could look into Bitcoin that is volatile enough to yield some good profit after some time of holding, or even look at reputable atlcoin like ETH to invest in. but if you wish to go for stablecoins for your preferred safety then you should be privacy concerned, if you are then the coin which you wish to save in should be watched out for.

Regardless, I will just make it clear to you that there is no good or bad choice here because it's location dependant.

Stable coins part are the confusing part, why stable coins? I am sure that everyone would be shocked about that part. I understand that you will want to keep your money in crypto, because it is something that goes up, but why stable ones? I would say saving every penny in bitcoin seems like a better idea and I see that there are plenty of other people who agree with me. I can't really make it grow any better way, stable coins would not make it grow, it is basically same thing as keeping it in the bank as fiat.

I would say if you do end up putting all into crypto that would be better and should not be a big deal at all. I hope that people could see that difference and could make a lot more money as well. It would be a lot better in the end.

FIAT itself has become the currency most affected by inflation, plus you are risking it on a platform that manages USDT where it will seem like you are risking your money in two places. Just choose one, between FIAT or Crypto. Unless you want to buy crypto by holding USDT while waiting for the moment, maybe that makes little sense.

I recommend you just hold BTC, but please note that currently a bullish market is occurring and many predict it will only last until early 2025. So DWYOR for my current advice. The price of bitcoin reached ATH a few days ago, which means it is no longer a cheap price compared to a few months ago.

As you know, USDT will not be immune to inflation, so it is not a solution for storing value.

I wouldn't recommend investing money that is meant to be saved because a person should have different funds for both purposes. If one is willing to make investments, they should do it separately and shouldn't invest the money that they wish to save thinking that they will get some interest or profit if they do so because you never know the outcome of an investment and you don't want your savings to get locked in an investment and you have no access to them when you need them.
We often face emergencies in our lives and in those emergencies, we need funds and if we have all our money, the savings, invested in any industry, we might not be able to withdraw those funds in an emergency situation and that can be troublesome.

Why use stablecoins when you can exchange the money you have with bitcoin? Because I am pretty sure the interest you will get is even higher, especially since the bull run is coming this year. And when you see that your profit is big, take it out and exchange it for your fiat.

Now, if you have doubts about Bitcoin and you really want to put it in USDT or stablecoins, that's your choice, but you should know the consequences before you do that. But if you ask me, invest in bitcoin because it will really grow a few months from now.

It has similarity and differences.
Since it is in stable coins, the value is relatively quite secure because mostly there will be no significant change in the price. But when we store our money in the banks, there should be monthly fees to pay. Meanwhile storing in stable coins, we don't need to pay anything. Sometimes, the price of stable coins can increase as well. But this depends on the pair of your local currency.

Yep. It is a good idea to keep in stable coins if our local currency losing the value with dollars. For example our local currency (Rupiah), it sometimes decreases a lot. So, it has an advantage because the price of stable coins sometimes can increase quite a lot. In that time, we can convert the stable coins with the local currencies more profitable.

By the way, even if we want to keep it on CEX, don't store too big number of stablecoins. We also don't choose random CEX, only choose most reputable CEX!

If it's for the bank charges, which I also highlighted in my comment, then the person can decide to keep it on their own personal volt where they can be fully in control over the funds, there is nothing to worry about, no trace to how you are going to spend the money, and they can't be restricted from what they can do with the money or not.
 
The only disadvantage now is the safety for the owner, especially for those who are not private with their holdings because holding large amounts will attract attention to your home.

The OP, for what I can tell from their post, do not seems to be interested in becoming an investor, they just want to save their money and keep it safe, so with this in mind, bitcoin despite how an amazing investment it can be, is not really a good option to them, since its extreme volatility will most likely scare them and then they will sell for a loss, however stable coins have their own fair share of problems, and unless the OP is aware of them and knows what to do in case they encounter them, they might as well just keep their money in their local currency.

I actually don't think it's a good idea because their is no difference between a stable coin as usdt and the us dollar, since the usdt is being peg with the dollar, and nothing is being added up, I don't think it's a wise thing to do.

And another thing about it is that any money being saved up has an enemy which reduces the value of that money, and that is inflation, because am very sure that since nothing is being added to that money, the value will be reduced as times goes on, so I would suggest to you that if you want to save money, save in anything that appreciate in value overtime, something like Bitcoin, gold or land, so it's very important you save in anything that appreciate in value, not in fiat that loses value due to inflation.

I think, in terms of saving money, especially between stable coins and Fiat, then I would tend to choose Fiat. Somehow I feel that saving money in the bank is still safer than saving money in the form of stable coins. This might be different if you choose a type of investment such as bitcoin or altcoin which has high fluctuations. that's because your assets can increase and decrease depending on how you use them.
However, when it comes to saving money, I think keeping it in a national bank would be better, and more flexible. Well, that's what I think. However, if you feel that holding USDT could be better, then you can do that. However, I hope you have really considered it.

I actually think the opposite, this is a much riskier decision than saving it in a bank even though the bank could go bankrupt but for example, in my country a number of savings are guaranteed by the government if the bank where we save the money is in a bank that is guaranteed so you just need to look for a trusted bank so that when the bank go bankrupt, our money is still safe or we can still get it back.
Your money's stablecoin doesn't lose value but it also won't increase. What's worse, USDT is a centralized coin so it's possible to have no value at all, it's much better if you make it into Bitcoin but if it's only for short-term savings, keep it in the bank it's actually much better than stablecoins, but If you still choose stablecoin DAI could be an option compared to USDT

Well, if you aim to have an investment that would be better. Buying your fiat money with Bitcoin to see it grow over time compared to the interest rates offered by the banks. However, the main goal of OP is to save his money, it's either to avoid any charges in the bank if ever the account becomes dormant or what.

And yes, I also agree that buying USDT will also be risky. If the goal is to purchase other currency than his fiat currency, it might be better to purchase the Dollar. This way, he is the only one who handles his fiat money. Though, it may not earn an annual interest rate, but he can at least avoid his money to decrease its value due to inflation.

If you are going to save money in form of a stable coin to leverage it over inflation or a failing currency, then it's not a bad idea to go this route...but if doing so with the intention of earning an interest, then it's technically the wrong option unless you opt to stake with a third party that is likely to pay you a small interest on your coins.

But you know what they say, "no risk, no gain " and if you aren't prepared to risk don't expect to gain, which is why you need to try BTC or other coins/tokens for maximum exposure and maximum returns unless you doing everything out of fear and not ready for this next chapter, then stable coins are what you need!

How sure are you that you are going to get your money back with profits in days or months? If you want to invest in crypto, you should be aware of the risk involved. There is no guarantee of getting your money back with profits in a short period of time, but if you want to invest in USDT, then I won't argue your funds will be there. But in times of saving money, don't think about using the money you will use in days or months to buy coins. You may lose when you are ready to use the money because there is a possibility that the coins may dump, and after the dumping of the coin and you need the money at that period, you must sell that investment unless you have another money to do what you wanted to do. 

However, nobody will tell you what is going to happen with your funds because we can't predict the future. The advice is that after the investment, make sure you hide your private key in a safe place. But you are asking whether you will lose your money or not. I dont think you will get that answer here, or is it that you did not trust where you want to put your money? If you did not or cannot take the risk, I will advise you to leave your money in the bank instead.

I think of the opposite of these mindsets. I don't like to keep my money in stable currencies as they are stable and won't move in value. Instead i would like to invest every penny i have in any kind of potential business that can make money and will be able to make an impact in its own category. If it goes down i will add more money to average down my break, even because i trust my research about the project and confident that it will do better when the right time comes.

I think that's a good idea, there is different between saving money in the bank and also to save your money in crypto, saving your money in crypto is just the same as investing. probably if you save your money in the bank the money will be stagnant it won't add anything instead you will be charged for card maint or other things as the case may be,but if you invest the money in most of this coin like bitcoin or ethereum probably if you can hold on to it for a very long time depending on the kind of wallet you're using I'm pretty sure that you can get ×2 of that money you invested.

stablecoin have their share of risks that you should be thinking of some algorithmic stablecoin exposed the risk of repeating the history like UST, some stablecoin that are backed by money doesn't necessarily means they are truly backed without any transparent disclosure of the audit so everything has their share of risk, at least in the bank its insured by the government that your money is safe and they are usually tightly regulated.
the existence of stablecoin in itself is just to bridge fiat to crypto for investment and trading so that any investors and trader could save up their wealth sparing it from the volatility with ease.
i don't think its really that good for saving money, instead you would be better off saving your money in bitcoin and ethereum anyway since it means you are saving and investing and there's many way that these coin in general are more secure than saving in stablecoin because its got the massive liquidity as well as its not depending on certain company for it to retain its value.

I don't think saving using USDT would be too bad. Although it is a fixed currency, usdt can create currency value differences with the local currency of different countries. If your country's currency is not USDT, you can convert USDT to own country's currency for personal needs, the price of USDT may be lower or higher in economic context, but it won't make much difference. Whether you keep your currency in a bank or stored in USDT is up to you. But If you are thinking of increasing your financial goals in the future then definitely you need to make investment decisions,Be it Bitcoin and any other investment sector.

For me I don't think saving up in usdt is because it has been stable for quite some time now yeah but it will be best in more like nation whose local currency are being seriously undergoing inflation but if the value of your local currency is good enough I will advice that you save in your local bank.

It depends on your trust, do you trust banks or crypto exchanges more? Personally when it comes to storing assets or money, I feel much safer if I store it in a bank. For me crypto exchanges are only a place to buy and sell crypto or as a means of storing crypto investments.

Remember cryptocurrencies  are highly volatile currencies which the value is potentialed to fluctuate so that you don't think you're getting on the safer side of having your funds saved in the Crypto wallets knowing that you'd make use of the money in just couple of days of week.
It's risky taking this risk so I'm saying to you that if you're not ready to save your funds in the crypto without considering the profit and lost potentials of it then you really have to put that in considerations that you might loose more to that fund saved in the crypto than the bank may charge you for their services. If you're lucky enough too it can obtain you profits while holding on short term holding else long term holding would always serve you the best in the crypto currencies industry. Although it also depends on the crypto currency you got your money saved in because there are crypto coins that are best suit for long term and short term holding such as bitcoin, Eth and the BnB, they are reputable and reliable crypto currencies but while looking at a short term holding then you've to look out for any reliable AltCoins with the potentials to quick interests which you'd be demanded to sell as quick as you obtains the profits else you may lost your funds depending on the volatility potentials of the Coins.

How funny it's that we can't escape patronizing the banks because at your point of selling your holdings after profit counts you'd still convert your digital holding to the traditional currency using the centralized banking.

There are no benefits you will get for holding stable currency as like USDT, and you know it's also risky to hold for long term because it's a centralized. Bank is safe option i think, and bank will give you interest in every month, may be less profit but you need to concern about your money safety. Stable coin can be freeze or blacklisted.

Stable coins is never been a best coin to invest your money while waiting for. why not invest for bitcoin if you are talking months from now because for sure you will be benefiting in the coming month or at least if you are willing then a year because this is the estimated time for bitcoin to show great increase.
and also  since you posted this since February then you should have been earning now.

Indeed, there are conditions to experience a dump even if it is a few cents, it is very felt if you have tens of thousands of $. For me, stable coins are a complement for those who want to store long-term crypto assets while mentally preparing for investment. Because it is more stable than a highly volatile one, of course it will be very high risk, even so crypto assets are also the goal for better holders in addition to other altcoins or bitcoin.

If you believe in usdt / stable coins, of course so far all crypto assets have not disappointed and have been able to recover more than ATH.
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Indeed, it is almost similar to storing in local financial institutions, tends to be stable and minimal risk.

But if you store in stable coins you can buy and sell at any time in the market, of course, you will be interested in buying other cryptos by getting used to looking at crypto charts, sometimes from habit comes confidence and being able to make decisions. If you have come this far, you just need to survive and add other assets to the portfolio.

The idea of saving money in USDT solely rely whether your final spending is USD or other currency let say for we that are not using USD as our finished end might be a good opportunity for us but those who are spending USD it makes no more sense saving it but you can only overcome some bank charges otherwise there is no difference. People who spend on other currency when the dollar rises against their currency it could be a good opportunity for them to cash out big time but the disadvantage is that when dollar is losing against their currency then your savings also reduces, instead saving money in Bitcoin is the best option although this is also volatile because since the price of bitcoin is not stable and you might get panicked and sell of one day if time not taken.

Saving all your money in crypto stablecoins has its good and bad sides:

Good Side:
1. Safe and Steady: Stablecoins are like digital versions of regular money, so they don't jump up and down in value like other cryptocurrencies. It's like having money in your pocket that doesn't change in worth too much.
2. Chance for More Money: Sometimes, if you put your stablecoins into special savings accounts, you can earn more money than in regular bank accounts. It's like having a piggy bank that grows faster.

Bad Side:
1. Risky Business: Putting all your money into stablecoins means trusting the people who run them. If something goes wrong with them or the rules change, you might lose your money.
2. Rules Can Change: Stablecoins are still kind of new, and the people in charge don't always agree on how to handle them. That means there's a chance they might not be allowed or could suddenly change in ways that affect your savings.
3. Tech Troubles: Sometimes, the computer programs that run stablecoins can have problems, like getting hacked or making mistakes. If that happens, you might lose your money or have trouble getting it back.

So, while saving in stablecoins can be a good way to keep your money steady and maybe earn some extra cash, it's important to remember there are risks too.

Stablecoins like USFT is not profitable, it is just like you saving in the back. Instead of doing this and since you are exposing yourself in the crypto space, why not invest in volatile yet profitable coins like ETH, BNB, and some of the top altcoins? Though it was risky but the point is that we want to grow our money and one way of doing this is to invest in projects that give us passive returns ROI. But I won't be saying to put everything you have (savings) in crypto. You can still save some in the banks and some part of it into crypto investment. We should take the necessary precautions and the safety of our funds.

Betting everything on stablecoins in my opinion is a bad idea, you obviously save bank commissions and if you know how to move well you can find stakes/interests of up to 10% on usdt, but i would do in this way i would invest half of the capital in stablecoins and half in promising altcoins that can only go up like btc, etc, bnb

Due to charges from the bank, I prefer you keep saving in USDT because, you are not going to face any charge while you money is on a wallet. Mind you, you are not advised to keep your money in an exchange for too long because they are the primary targets of hackers, and in exchanges you are not the holder of your coin. You only get access to send them by using your passkey, but the real seed phrase are not in your watch. But If you keep your coins in a non custodial wallet they are safe if you keep your seed phrase safe.

If you read carefully what OP wrote in the thread, his purpose is for saving. He is very aware that he doesn't invest his money but he does saving. He knows the value of stablecoins won't move significantly like Bitcoin or other crypto coins.

We must understand that not every one wants to invest their money. Sometimes they need to have saving, it is for reserved money in the future. Why they don't want to invest all the money? When we invest our money, it has the chance to fail, so we may lose the money. IF we save our money into stable things, we can ensure that we have reserved money in the future. It is very needed when we have urgent needs.

So, OP doesn't want to look for any business. He just wants to save the money into stable things.

The problem is that no one dares to guarantee that your USDT will be truly safe forever. And even if you put it in USDT, the value will just be like that, right? There is no significant increase. Yes, that's all, for stable coins. Meanwhile, there are sometimes many pros and cons regarding stable coins, regarding their security and the possibility of them lasting a long time or not. because various things can happen as soon as possible.

So make sure you first understand the various risks of stable coins if they are used for the long term. However, I'm not saying it's not good, but there needs to be further analysis regarding the stable coin chosen.

And then, actually, instead of keeping it in USDT, why not just go for BTC? This is a coin that has a lot of potential whatever it is. So, it might actually have a big impact on the value of your money.

I do agree that it is going to be based on what you spend, but also if you want to invest into USDT, that makes me question the difference between USDT and USD, like what's the difference? I could just get USD and put it in savings account at bank and seems like that would be the same, in fact I would get more in return for it as well so it looks like it would be even better. I get that it is not that simple to keep it in USD, but still USDT doesn't make sense neither.

You trust Tether as a company more than you trust the US government, that's silly. Just keep it in bitcoin, that's what I do and I will forever do that, makes no sense to do it any other way and should not be all that easy to handle it if you ask me as well, just buy and hold, simple as that.

I know that there are people that are very scared of putting there token in a volatile coins because of the market movement.
Sometimes it's could be because they could need the fund as quick as possible and which could make them decide to keep it as stable coins to ensure that the value does not depreciate. We just need to understand what we have and how we want things to be for us.
The price of many crypto projects are already up and we can take the advantage now.