Best alternative to Tether?

[thegoatiest]

Hey.

I'm currently all in tether... which isn't a good idea currently IMO.
I'd like an alternative that won't turn to dust - as I've heard speculation; that Tether might become worthless if Bitfinex get hammered in the courts.

What's the best stable coin currently?
I'm at Bitfinex at the moment, however I'm thinking of going back to Binance; giving me more options for stable coins.
However, the liquidity of TrueUSD and USDcoin - on Binance, is pretty poor....
Which leaves..
a) a btc only exchange such as Bitmex or deribit...     (which is not for me, way too much stress having to keep a constant eye on the market. I like to take time out as needed)
b) Coinbase and legit Fiat. However - coinbase has high fees and very bad liquidity (I have the choice of euros or pounds there.. no dollar )

I'm quite worried that Tether will just collapse and all my trading capital will simply vanish.
Is that a valid concern? And do we have a time-frame for when things will be concluded with the latest tether fiasco.?

Would very much appreciate some insight on this.
Thanks.
TG

[1715622094]

1715622094

[BitcoinGirl.Club]

I'm at Bitfinex at the moment, however I'm thinking of going back to Binance; giving me more options for stable coins.

Please do not keep your coins in an exchange. If anything happens to the exchange then you are going to lose the asset.

I'm currently all in tether... which isn't a good idea currently IMO.

This is certainly not a good idea. Why not have BTC and store them in you own wallet which private key is only accessible by you.

Is that a valid concern?

This is seriously a valid concern

[akamit]

Probably Dogecoin can be used as a stable coin for some time? For longer terms, I'm not sure.

Or you can divide all your capital into 4 and use Dogecoin, Tether, TrueUSD, and USDcoin. I also don't know much about TrueUSD and USDcoin.

Maybe you can skip Tether as you are worried about it.

[diazepam666]

I am not sure why you said USDC and TUSD are that much worth to have as alternative.

Completely I understand the volume level compare with the USDT with these coins but if nee coin comes in the market also it cannot compete with the level of USDT.
So never other alts will compete the this coin.

[Dilerium90]

Hey.

I'm currently all in tether... which isn't a good idea currently IMO.
I'd like an alternative that won't turn to dust - as I've heard speculation; that Tether might become worthless if Bitfinex get hammered in the courts.

What's the best stable coin currently?
I'm at Bitfinex at the moment, however I'm thinking of going back to Binance; giving me more options for stable coins.
However, the liquidity of TrueUSD and USDcoin - on Binance, is pretty poor....
Which leaves..
a) a btc only exchange such as Bitmex or deribit...     (which is not for me, way too much stress having to keep a constant eye on the market. I like to take time out as needed)
b) Coinbase and legit Fiat. However - coinbase has high fees and very bad liquidity (I have the choice of euros or pounds there.. no dollar )

I'm quite worried that Tether will just collapse and all my trading capital will simply vanish.
Is that a valid concern? And do we have a time-frame for when things will be concluded with the latest tether fiasco.?

Would very much appreciate some insight on this.
Thanks.
TG

It may sound strange, but the best and safest alternative to a tether is a real dollar. On some exchanges, it present, for example, at Bitfinex. Safer with him. The rest can collapse at any time.

[leowonderful]

I've been using USDC recently as the coin's backed by Coinbase and Circle and I'd like to distance myself as far away from Bitfinex as possible considering all the things that have happened to them over the years.

Binance has several pairs like USDC/BTC and USDC/ETH with decent volume, though as the member above me has mentioned, the volume with Tether on Binance and most other exchanges is reported to be far greater than with any other stablecoin out there currently. You can always just trade the USDT/BTC pair and then convert the USDT to USDC or another stablecoin though.

In the end though, you ideally don't hold any stablecoins for extended periods of time. Fiat is safer than any stablecoin. Cash out to real USDs when needed.

[thegoatiest]

Thankyou very much for the prompt replies!

I'm at Bitfinex at the moment, however I'm thinking of going back to Binance; giving me more options for stable coins.

[Please do not keep your coins in an exchange. If anything happens to the exchange then you are going to lose the asset.]
>>>>But don't you then end up paying exchange withdrawal fees every trade? Seems like that could be expensive for the day trader(not compared to losing it all of course..)

I'm currently all in tether... which isn't a good idea currently IMO.

[This is certainly not a good idea. Why not have BTC and store them in you own wallet which private key is only accessible by you.]
>>>>I'm personally trading for $ value, I'm not comfortable being in BTC... and seeing as we've just had a rally, I don't want to potentially long the top.
I tried Bitmex... and it was very stressful, getting hammered with funding fees just to hedge my Dollar value.. I need a fiat/equivalent.

---

I've been talking to other traders - and they think that asides from tether - the other stable coins don't have enough liquidity to be useful for trading on Binance.
today I saw Pax 15mil 24hour volume. USDC 12 million 24hour volume.
That seems like enough to me? Or is that too low...?
Coinbase BTC/Euro only has 8million~ 24hour, that feels way too low. (the spread is pretty high, and you almost always have to pay taker fee)

I guess I could hedge my bets.... with TUSD and USDC..
RE USDC:
I just had a look at the Binance charts for BTC/USDC. Doesn't look good to me. Regular crazy wicks.... wiping out where my stops would be - whereas this doesn't happen with USDT. I blame the low-volume.... allows whales to take advantage and stop-hunt on the cheap.


@Dilerium90 - I did not know Bitfinex has USD. I thought they only did Tether?
This sounds like a good option. However, It then presents the problem of; do you keep your fiat at Bitfinex overnight or do you withdraw to a bank account... (sounds more lengthly and costly than transfering a stable coin to a hardware wallet, if i'm not mistaken.)

@leowonderful - sound advice. Thanks. Do you think BTC/USDT - then converting it to USDC is worth the extra 0.1% trading fee? Or just trading BTC/USDC at Binance?




I don't know what to do..... thinking of packing trading in until people wake up about tether...  
Do we have an ETA on the tether time-bomb?

[thegoatiest]

I'm trawling the internet - and I'm having trouble finding out if your balance at Bitfinex is Fiat or Tether.....
They're support staff avoid this question repeatedly.
They suggest that your USD balance on their exchange is Fiat... but they don't flat out deny it's actually tether either....
I'm trusting them less and less...

Here's one of the posts that got me wandering; is it fiat or tether at BF;
https://www.reddit.com/r/bitfinex/comments/8un7fa/usd_or_usdt/

[flash101k]

I'm at Bitfinex at the moment, however I'm thinking of going back to Binance; giving me more options for stable coins.

Please do not keep your coins in an exchange. If anything happens to the exchange then you are going to lose the asset.

I agree with your point of view, we should not keep money on exchanges. If hackers hack the exchange, the investors will bear the risk, and the exchanges may not refund to you. Use a physical wallet or cold wallet to keep your money.

[thegoatiest]

But if you day trade like me. It's impractical and expensive to pay exchange withdrawal fees every day.
I don't know how I'd manage that.. It also removes your ability to place a limit order.... as you have no money on the exchange.

--

I think so far. The best solution for me is - USDT-BTC, Then convert USDT to USDC.
The USDC market moves in mysterious (manipulative) ways... I personally don't see it as very tradeable..

USDT-BTC behaves itself but is potentially a time-bomb.
So, I'm going to take the extra 0.1% fee on each trade, for some peace of mind. (and looking through the charts, I'd more than make up that 0.1% extra by not getting stopped out of trades early due to the low volume of USDC-BTC.
I trust coinbase, I don't like them. But i trust them.

Tether, we all know the history...

[exstasie]

I'm currently all in tether... which isn't a good idea currently IMO.

You got that right. Bitfinex and Tether are both skating on thin ice at the moment. I don't go anywhere near USDT. Another big bank account seized or adverse actions from regulators could cause prices to skyrocket against USDT.

I'm at Bitfinex at the moment, however I'm thinking of going back to Binance; giving me more options for stable coins.
However, the liquidity of TrueUSD and USDcoin - on Binance, is pretty poor....

Which leaves..
a) a btc only exchange such as Bitmex or deribit...     (which is not for me, way too much stress having to keep a constant eye on the market. I like to take time out as needed)
b) Coinbase and legit Fiat. However - coinbase has high fees and very bad liquidity (I have the choice of euros or pounds there.. no dollar )

Yes but I've definitely noticed liquidity on Binance's USDC market improving. Your best bet may be to spread your liquidity through multiple markets including USDC, PAX, TUSD. If not enough, then you may need to hold BTC and hedge on Bitmex. You could also try Kraken for straight up fiat trading. They have SEPA funding and a much higher volume EUR market than Coinbase. You can probably use their USD market as well.

[Ailmand]

I'm at Bitfinex at the moment, however I'm thinking of going back to Binance; giving me more options for stable coins.
[Please do not keep your coins in an exchange. If anything happens to the exchange then you are going to lose the asset.]
>>>>But don't you then end up paying exchange withdrawal fees every trade? Seems like that could be expensive for the day trader(not compared to losing it all of course..)

It is safer to keep your funds in a wallet where you hold your own private key than keeping it in a platform. Keep in mind that therebare inevitable events where platforms suddenly closes or gets attacked. I would not risk storing my crypto in an exchange just to save fees when day trading.

[ryzaadit]

Try to research about USDC Coin, They already have audited about their stable coin. USDC was 100% backup by the project, I remember went Tether got a bad news about their case the value down to around 0.5$-0.7$. I think right now better to avoid Tether, because we all know Teahet not backup by a money.

[thegoatiest]

It is safer to keep your funds in a wallet where you hold your own private key than keeping it in a platform. Keep in mind that therebare inevitable events where platforms suddenly closes or gets attacked. I would not risk storing my crypto in an exchange just to save fees when day trading.

Stable coin I'd agree... but crypto - need to keep that on the exchange, otherwise; no stop-loss. Right?

--

Until this blows over I will stay away from holding any tether... - I'll 'hedge' my dollar value using Pax and USDC and I think i'll place my trades using tether for liquidity, then convert to one of the other stable coins.
pfffff, but then I guess that leaves me exposed to a tether crash if my stop-loss is on the BTC/USDT market....  :S
So, Guess I'll be trading USDC/BTC 
The fees to hedge a Bitmex are just taking the P***.. I won't put up with that...
--

Wow, I didn't realize it got that bad in the past with tether.... eek.

[Julunguul]

Hey.

I'm currently all in tether... which isn't a good idea currently IMO.
I'd like an alternative that won't turn to dust - as I've heard speculation; that Tether might become worthless if Bitfinex get hammered in the courts.

so if you think that if Bitfinex has the risk that the Tether will start to falter, what about BTC and altcoins?
I don't see any other stable coin options that have the same value as both, and like the previous event if the worst possibility of Bitfinex occurs there must be something else that will backup tether.

[X-ray]

Hey.

I'm currently all in tether... which isn't a good idea currently IMO.
I'd like an alternative that won't turn to dust - as I've heard speculation; that Tether might become worthless if Bitfinex get hammered in the courts.

What's the best stable coin currently?
I'm at Bitfinex at the moment, however I'm thinking of going back to Binance; giving me more options for stable coins.
However, the liquidity of TrueUSD and USDcoin - on Binance, is pretty poor....
Which leaves..
a) a btc only exchange such as Bitmex or deribit...     (which is not for me, way too much stress having to keep a constant eye on the market. I like to take time out as needed)
b) Coinbase and legit Fiat. However - coinbase has high fees and very bad liquidity (I have the choice of euros or pounds there.. no dollar )

I'm quite worried that Tether will just collapse and all my trading capital will simply vanish.
Is that a valid concern? And do we have a time-frame for when things will be concluded with the latest tether fiasco.?

Would very much appreciate some insight on this.
Thanks.
TG

Yes it is, consider about bitfinex and tether was facing a very big problem because both of these platforms must deal with US prosecutor and SEC. I have already moved to the TUSD and so far i never face any big problem with it.
It looks so difficult to deal with US regulators.
TUSD is a better choice consider the liquidity based on much dollars that used to backed USD. you can't expect a huge liquidity when it was having limited fiat money to backed it.

[gentlemand]

I'm trawling the internet - and I'm having trouble finding out if your balance at Bitfinex is Fiat or Tether.....
They're support staff avoid this question repeatedly.
They suggest that your USD balance on their exchange is Fiat... but they don't flat out deny it's actually tether either....
I'm trusting them less and less...

Here's one of the posts that got me wandering; is it fiat or tether at BF;
https://www.reddit.com/r/bitfinex/comments/8un7fa/usd_or_usdt/

If I remember rightly they've stated that USD and USDT are fully interchangeable on their platform. You have a dollar balance that you can withdraw as dollars via bank transfer or as USDT through the Omni chain.

That kind of made sense if you believed they were backed 1-1. Now we know for a fact that they're not, though now there are 'cash alternatives' involved as well as their wee token thing. Whatever our feelings are they never seem to be short of heavyweights willing to put money into them.

I would never, ever consider Tether if I was looking to park value for a period of weeks or months. If I was super active and running in and out of coins on an hourly or daily basis I would probably consider it a risk worth continuing with but I'd remain vigilant and would always favour staying in crypto.

[GregH37]

Hey.

I'm currently all in tether... which isn't a good idea currently IMO.
I'd like an alternative that won't turn to dust - as I've heard speculation; that Tether might become worthless if Bitfinex get hammered in the courts.

What's the best stable coin currently?
I'm at Bitfinex at the moment, however I'm thinking of going back to Binance; giving me more options for stable coins.
However, the liquidity of TrueUSD and USDcoin - on Binance, is pretty poor....
Which leaves..
a) a btc only exchange such as Bitmex or deribit...     (which is not for me, way too much stress having to keep a constant eye on the market. I like to take time out as needed)
b) Coinbase and legit Fiat. However - coinbase has high fees and very bad liquidity (I have the choice of euros or pounds there.. no dollar )

I'm quite worried that Tether will just collapse and all my trading capital will simply vanish.
Is that a valid concern? And do we have a time-frame for when things will be concluded with the latest tether fiasco.?

Would very much appreciate some insight on this.
Thanks.
TG

I will honestly advise against keeping your money in binance, even though they are still the most trust worthy exchange till date, but when it comes to security, there is not exchange that is that perfect other than your own private wallet.

Get your money converted to BTC, and keep it in your wallet with necessary security put in place, although I still do not understand why you want to keep your fund I n a stable coin for now.There is no stable coin in the market that is more effective than tether, but now that tether is having issue as regards their overprinting of money, there is no better option than BTC.

[ichai]

Hey.

I'm currently all in tether... which isn't a good idea currently IMO.
I'd like an alternative that won't turn to dust - as I've heard speculation; that Tether might become worthless if Bitfinex get hammered in the courts.

What's the best stable coin currently?
I'm at Bitfinex at the moment, however I'm thinking of going back to Binance; giving me more options for stable coins.
However, the liquidity of TrueUSD and USDcoin - on Binance, is pretty poor....
Which leaves..
a) a btc only exchange such as Bitmex or deribit...     (which is not for me, way too much stress having to keep a constant eye on the market. I like to take time out as needed)
b) Coinbase and legit Fiat. However - coinbase has high fees and very bad liquidity (I have the choice of euros or pounds there.. no dollar )

I'm quite worried that Tether will just collapse and all my trading capital will simply vanish.
Is that a valid concern? And do we have a time-frame for when things will be concluded with the latest tether fiasco.?

Would very much appreciate some insight on this.
Thanks.
TG

I think you should not keep more tether. Currently there is a lot of stablecoin being circulated in the crypto market. TUSDT, USDC are still other good choices for you. and you should divide your money for those stablecoin types. Because the risk can occur at any time and you will not want to lose everything if the trading system of those coins fails.

[Iykecollins]

I have been using USDT as the only tether for fund hedging but when it was learnt that it is an altcoin I became jittery and decided to use the alternatives like Pax, Tusd and Usdc, but I use usdc more

[Wind_FURY]

OP, there's no safer alternative to Tether because you're exposing yourself to trusting a centralized party when you HODL any "backed" stablecoin. If you must, hold just up to half in a stablecoin, and the other half in Bitcoin.

[elewton]

I have been using USDT as the only tether for fund hedging but when it was learnt that it is an altcoin I became jittery and decided to use the alternatives like Pax, Tusd and Usdc, but I use usdc more

USDC is the recognized stablecoin at most major exchanges and we can be safe because this is the only stablecoin approved by the government. I have a lot of choices in keeping stablecoin, but be more careful because it will inevitably have a price collapse and we can't be sure what will happen. Personally, I still trust USDT, USDC because it's 2 coins that make me feel the safest

[dmty.0809]

USDT has become the most important factor in the crypto market because it controls 87.1 percent of the market share of Bitcoin trading. Although the results of legal cases affecting iFinex are unknown, the collapse of USDT can make the crypto market unstable. USDT depositors panic and sell their tokens for other crypto. Bitfinex users also withdraw their funds in droves from the exchange due to concerns that funds will be detained.

[exstasie]

OP, there's no safer alternative to Tether because you're exposing yourself to trusting a centralized party when you HODL any "backed" stablecoin.

I disagree. Not all trusted third parties are equal. Would you rather store your money with a licensed and insured bank, or a bum hanging out on the corner? Which one is more likely to lose your money?

Let's compare USDC and USDT.

One is issued by Circle/Coinbase, who are extremely compliance oriented, hold MSB licenses where they operate, and have never had any legal problems.

The other is issued by Tether, who recently only had 74% of USDT backed by cash equivalents. They were also recently targeted by a court order from the New York Attorney General. Their sister company Bitfinex had hundreds of millions seized by regulators and both companies are under investigation by multiple agencies.

You really think there's no safer alternative to Tether?

[Pipdips]

I am now all-out of USDT.

I went all-in with USDC.

[gentlemand]

https://www.bloomberg.com/news/articles/2019-06-05/biggest-crypto-exchange-takes-on-tether-with-own-stablecoins

Binance will be launching their very own stablecoins soon according to that article. I presume that's likely to be the strongest contender to unseat Tether if it's ever to happen. Let's hope they have some actual accountability.

[sammyp]

I do not have much knowledge about the current concerns regarding Tether as to whether they will have an effect on it as a stable coin or not. If I were in your shoes then I would simply switch to fiat and Bitcoin. Bitcoin may equally not be stable but it has always been a good choice.

[exstasie]

https://www.bloomberg.com/news/articles/2019-06-05/biggest-crypto-exchange-takes-on-tether-with-own-stablecoins

Binance will be launching their very own stablecoins soon according to that article. I presume that's likely to be the strongest contender to unseat Tether if it's ever to happen. Let's hope they have some actual accountability.

Ah, it must be in the air then. I saw a puff piece a few days ago about OKEx launching its own stablecoin through a Nevada trust company. Now that I see this, I assume they're just copying Binance.

Any market share that Tether competitors can capture is a welcome sight. Tether really seems like a black cloud hanging over the market. I'm amazed they've lasted this long.

[MIner1448]

The best way to transfer your actives to the top 5 coinmarketcup, these coins are time-tested .And I do not advise you to keep your savings on the stock exchange, at any time can come up with any reason for freezing assets or can happen hacking.

[sbogovac]

I am now all-out of USDT.

I went all-in with USDC.

Do you think "all-in" is a good strategy for trading...? 

[Kimonoe]

I do not have much knowledge about the current concerns regarding Tether as to whether they will have an effect on it as a stable coin or not. If I were in your shoes then I would simply switch to fiat and Bitcoin. Bitcoin may equally not be stable but it has always been a good choice.

Bitcoin is indeed the main choice for investing. but I personally still hold tether for long-term investment. the issue that happened did not make me panic, and it would remain in the analysis that I had planned

[Baofeng]

I don't know, but if you could wait for for Binance to have their own stable coin, Biggest Crypto Exchange Takes on Tether With Own Stablecoins. Again, It's just speculation, but this is going to be huge. Binance today has the midas touch, everything they get their hands on turns into gold. They recent IEO's was like 800% up already, so if they decided to release their own stable coins, I'm sure it will enjoy the support of the community.

[Thanasis]

Hey.

I'm currently all in tether... which isn't a good idea currently IMO.
I'd like an alternative that won't turn to dust - as I've heard speculation; that Tether might become worthless if Bitfinex get hammered in the courts.

What's the best stable coin currently?
I'm at Bitfinex at the moment, however I'm thinking of going back to Binance; giving me more options for stable coins.
However, the liquidity of TrueUSD and USDcoin - on Binance, is pretty poor....
Which leaves..
a) a btc only exchange such as Bitmex or deribit...     (which is not for me, way too much stress having to keep a constant eye on the market. I like to take time out as needed)
b) Coinbase and legit Fiat. However - coinbase has high fees and very bad liquidity (I have the choice of euros or pounds there.. no dollar )

I'm quite worried that Tether will just collapse and all my trading capital will simply vanish.
Is that a valid concern? And do we have a time-frame for when things will be concluded with the latest tether fiasco.?

Would very much appreciate some insight on this.
Thanks.
TG

USDC also has good amount of liquidity but no stable coins can be considered as best because of centralized.So keep the stable coins for short term profits and hope for that it won't collapse at any time while you were holding.Fiat is not good option because of high fees so if you can afford for it then go for it.

[The Sceptical Chymist]

It may sound strange, but the best and safest alternative to a tether is a real dollar. On some exchanges, it present, for example, at Bitfinex. Safer with him. The rest can collapse at any time.

That doesn't sound strange to me at all.  I'm not sure why OP feels the need to keep his funds in Tether unless he's planning on doing some trading relatively soon.  If that isn't his plan, I would just cash out to fiat and hold that until the time comes to trade again.  There's no way I'd keep a coin on an exchange, not even a stable one.  I understand the idea behind Tether, but IMO I'd rather just own dollars and not some representation of them which could go *poof* if the exchange goes down or whatever.

but I personally still hold tether for long-term investment.

You've got to be shitting me.  Seriously?  That's worse than keeping your money under your mattress.

And I do not advise you to keep your savings on the stock exchange, at any time can come up with any reason for freezing assets or can happen hacking.

Hacking and freezing of funds on a stock exchange?  You people are just talking out of your asses here.  I think you mean "crypto exchange".  If you don't know the difference, then please don't post nonsense.

[Pipdips]

I am now all-out of USDT.

I went all-in with USDC.

Do you think "all-in" is a good strategy for trading...?  

Haha. The whole point of this topic is that we all don't trust USDT!

So are you with us...or no?

[Pipdips]

Biggest Crypto Exchange Takes on Tether With Own Stablecoins.

Thanks for the link. This is perhaps the big news that we have all been waiting for.

[sbogovac]

I am now all-out of USDT.

I went all-in with USDC.

Do you think "all-in" is a good strategy for trading...?  

Haha. The whole point of this topic is that we all don't trust USDT!

So are you with us...or no?

Please (re-)read carefully (don't forget the link too); I understand stepping out of USDT (I did too). But I was asking a question regarding going "all-in" (to anything)... this is still the trading section, isn't it...?

[sujonali1819]

snip~~
Hey.
I'm currently all in tether... which isn't a good idea currently IMO.
I'd like an alternative that won't turn to dust - as I've heard speculation; that Tether might become worthless if Bitfinex get hammered in the courts.

What's the best stable coin currently?
I'm at Bitfinex at the moment, however I'm thinking of going back to Binance; giving me more options for stable coins.

Actually, after USDT, USDC and USD coin are the most usages stable coins. So you can choose them as stable coin if you really want to go stable coin instead of BTC or another crypto. And I will suggest you keep your holding in a wallet instead of any exchange. thanks

[dunfida]

https://www.bloomberg.com/news/articles/2019-06-05/biggest-crypto-exchange-takes-on-tether-with-own-stablecoins

Binance will be launching their very own stablecoins soon according to that article. I presume that's likely to be the strongest contender to unseat Tether if it's ever to happen. Let's hope they have some actual accountability.

Lets see on what would happen.Thanks for the link share up yet im not aware on this news about Binance possible own stablecoins.
Whatever happens to Tether there are already lots of competitors is eyeing into its position but one thing should be put up on mind that
dont ever trust up fully with stable coins ever.

[gentlemand]

Lets see on what would happen.Thanks for the link share up yet im not aware on this news about Binance possible own stablecoins.
Whatever happens to Tether there are already lots of competitors is eyeing into its position but one thing should be put up on mind that
dont ever trust up fully with stable coins ever.

I'm amazed/shocked/depressed that Tether is still as strong as it is considering there are now multiple rivals put out by properly legitimate companies. I presume the only thing keeping them up there is the dimness and lack of imagination of its users.

I wouldn't class Binance as a properly legitimate company so their coin would be no more interesting to me than any other.

[el kaka22]

If you do not want to stay in bitcoin there are a lot of coins who are a bit stable compared to bitcoin in dollar value you can use them or like people said you can use fiat as well. I mean withdrawing your bitcoins to fiat is not that hard wherever you are with localbitcoin and you can definitely use exchanges if you have access to them. The charge could be a lot more than using tether but the risk is not worth it.

At one hand you have fiat that you can use anywhere in the world and definitely more secure than tether and just basically the normal way people use money and on the other hand you have stablecoin that you are not sure about the 1to1 ratio anymore and could be gone any moment now and could be considered dead already. The risks outweight the reward when using tether.

[sbogovac]

[...]The risks outweight the reward when using tether.

For Tether that might be true. But if you want to use a scalping trading strategy you would want to use an exchange with the lowest fees (as they will "eat up" any earnings you make), hence you would want to use Binance. And Binance simply does not support Fiat... Thankfully there are other Stablecoins (like USDC, TUSD and DAX) that are good enough alternatives for the average trader.

[bitgolden]

I do not have much knowledge about the current concerns regarding Tether as to whether they will have an effect on it as a stable coin or not. If I were in your shoes then I would simply switch to fiat and Bitcoin. Bitcoin may equally not be stable but it has always been a good choice.

Bitcoin is indeed the main choice for investing. but I personally still hold tether for long-term investment. the issue that happened did not make me panic, and it would remain in the analysis that I had planned

The issue that has happened or yet to happen? because I have not seen much issue around and the one that will create the big panic is yet to be decided in court and it is better you be on a safe side, because if the whole thing turn around to be against them, you might not be fast enough to take all your investment before they shut down the system or lock the system from withdrawal.

Look at when Binance was hacked, what they did first was to lock withdrawal and many people that were going to move their funds out of panic could not do so, but they were just lucky that Binance overcame the challenge and came out stronger, but bitfiniex might not survive this.

[Sithara007]

[...]The risks outweight the reward when using tether.

For Tether that might be true. But if you want to use a scalping trading strategy you would want to use an exchange with the lowest fees (as they will "eat up" any earnings you make), hence you would want to use Binance. And Binance simply does not support Fiat... Thankfully there are other Stablecoins (like USDC, TUSD and DAX) that are good enough alternatives for the average trader.

Does any of these alternative coins that you have listed (USDC, TUSD, DAX.etc) do third party audits and make the audit summary available for everyone? Many of these stablecoins claim that they are backed up by real cash. But as we have seen in the case of Tether, these guys are not very honest when they claim this. The transparency is simply not there.

[gentlemand]

Does any of these alternative coins that you have listed (USDC, TUSD, DAX.etc) do third party audits and make the audit summary available for everyone? Many of these stablecoins claim that they are backed up by real cash. But as we have seen in the case of Tether, these guys are not very honest when they claim this. The transparency is simply not there.

Yes. USDC publishes a monthly audit by an independent accountant - https://blog.circle.com/2019/05/17/usdc-reserve-attestation-report-from-grant-thornton-llp-april-2019/

Dunno about the other ones but I would assume that anyone who wasn't transparent wasn't going to get very far. Tether is a fine example to all.

[exstasie]

I'm amazed/shocked/depressed that Tether is still as strong as it is considering there are now multiple rivals put out by properly legitimate companies. I presume the only thing keeping them up there is the dimness and lack of imagination of its users.

And the fear of getting accounts terminated, money frozen, reported to authorities. PAX and GUSD showed very early on that traders couldn't rely on honest redemption. Tether may be shifty and have obvious banking problems but they seem much less likely to intentionally fuck over their customers like "legitimate" stablecoin issuers will. I feel like there is a tacit understanding between Tether and their customers that liquidity is a much bigger priority than proper AML/KYC compliance.

[gentlemand]

And the fear of getting accounts terminated, money frozen, reported to authorities. PAX and GUSD showed very early on that traders couldn't rely on honest redemption. Tether may be shifty and have obvious banking problems but they seem much less likely to intentionally fuck over their customers like "legitimate" stablecoin issuers will. I feel like there is a tacit understanding between Tether and their customers that liquidity is a much bigger priority than proper AML/KYC compliance.

Agreed. However in theory these coins have two purposes - parking and redemption and Tether users already know that attempting to redeem for real dollars is largely pointless and hopeless so that aspect of its usage isn't too far off closed down completely. I'm sure BFX insiders have little trouble.  

That makes it fundamentally different from the other coins.

The 'legit' issuers really fucked themselves with their twitchiness. I certainly would never look to redeem dollars through them. Dunno if they'll ever make a move on exchange balances but it's possible at which point there's no point in going anywhere near them.

[davinchi]

I think the best options right now are usdc and gusd. The only reason for that is usdc is done by poloniex and circle which is owned by a big bank in USA, I do not remember which one it was but it could be JP Morgan or something like that which means they have a huge backing and would never really get hurt like tether since they can afford to keep it at 1to1 ratio forever.

The other one is gusd which is done by winklevoss twins and they are very rich and heavily invested into bitcoin which is why I believe in them, they are not strangers in this market and have been advocates of bitcoin since day 1 so their stablecoin will be strong too. In any case if you could not use any stablecoin that is better, I like to put my money into either fiat or crypto, not in between.

[Reatim]

I'm at Bitfinex at the moment, however I'm thinking of going back to Binance; giving me more options for stable coins.

Please do not keep your coins in an exchange. If anything happens to the exchange then you are going to lose the asset.

Exactly mate this is one good advice as leaving our coins in exchange is very risky

I'm currently all in tether... which isn't a good idea currently IMO.
This is certainly not a good idea. Why not have BTC and store them in you own wallet which private key is only accessible by you.

Diversification is the best strategy specially for long term holding

Is that a valid concern?
This is seriously a valid concern

But must consider some advices if you want to profit in future

[sbogovac]

[...]The risks outweight the reward when using tether.

For Tether that might be true. But if you want to use a scalping trading strategy you would want to use an exchange with the lowest fees (as they will "eat up" any earnings you make), hence you would want to use Binance. And Binance simply does not support Fiat... Thankfully there are other Stablecoins (like USDC, TUSD and DAX) that are good enough alternatives for the average trader.

Does any of these alternative coins that you have listed (USDC, TUSD, DAX.etc) do third party audits and make the audit summary available for everyone? Many of these stablecoins claim that they are backed up by real cash. But as we have seen in the case of Tether, these guys are not very honest when they claim this. The transparency is simply not there.

Yes. USDC publishes a monthly audit by an independent accountant - https://blog.circle.com/2019/05/17/usdc-reserve-attestation-report-from-grant-thornton-llp-april-2019/

Dunno about the other ones but I would assume that anyone who wasn't transparent wasn't going to get very far. Tether is a fine example to all.

What he ^^^ said, and I like USDC because of Coinbase too...

[ricardobs]

There are lots of alternatives, lots of good ones out there that you can make use of. I don't even know why some of you feel like tether is the best there is while there are so many of them are good. If you're making use of the blockchain wallet you must have heard about the USD PAX, it is another cryptocurrency that is backed by the USD. So if you have the Blockchain wallet and have also verified your identity, you will be able to exchange your Bitcoin or any of the available cryptocurrencies for USD PAD right from your wallet. There are other similar coins as well that are backed by the USD. There is USDC which is the second alternative to tether. The next is TUSD

[muhhentuhhen]

Probably Dogecoin can be used as a stable coin for some time? For longer terms, I'm not sure.

Or you can divide all your capital into 4 and use Dogecoin, Tether, TrueUSD, and USDcoin. I also don't know much about TrueUSD and USDcoin.

Maybe you can skip Tether as you are worried about it.

Soon, Facebook will launch its cryptocurrency. It is supposed that the new token will be a stable coin. AS FB is extremely popular, there is a high probability of the new coin success. So, Tether can be replaced.

[Reid]

Two questions.

Why are you forcing your funds into a stable coin?
Why not just go to the bank if you want stability?

I mean, you made an effort to know more about crypto currencies and yet you will just stay with a stable coin and now you are looking for another because Tether is at risk.
Why not step up? Go risk it at a better place for a future income.
Go bitcoin.

If you are doubting a stable coin then you might want to apply that with the rest.
I mean it. Literally. Seriously, it aint a joke.
Just want to save some of you from making a big mistake in your life.

[exstasie]

Two questions.

Why are you forcing your funds into a stable coin?
Why not just go to the bank if you want stability?

The biggest reason is KYC. If you only deposit/withdraw crypto to exchanges, you can avoid KYC while trading and hedging USD value with stablecoins. This offers obvious privacy benefits and is probably used to an extent for tax avoidance. So if you don't need the fiat money in your bank account, it makes sense why some people look to stablecoin markets/exchanges rather than fiat exchanges.

[gentlemand]

Soon, Facebook will launch its cryptocurrency. It is supposed that the new token will be a stable coin. AS FB is extremely popular, there is a high probability of the new coin success. So, Tether can be replaced.

And if the pile of Monero you bought with your Facebookcoin is traced by them, and you can bet your arse it'll have unparalleled surveillance built in, your Facebookcoin account will be shut and you'll be forever banned.

If they're talking to Gemini and Coinbase that must mean some conventional exchange action, but the thing that people like about Tether is that it doesn't give a shit.

[Blue_oxen]

There are lots of alternatives, lots of good ones out there that you can make use of. I don't even know why some of you feel like tether is the best there is while there are so many of them are good. If you're making use of the blockchain wallet you must have heard about the USD PAX, it is another cryptocurrency that is backed by the USD. So if you have the Blockchain wallet and have also verified your identity, you will be able to exchange your Bitcoin or any of the available cryptocurrencies for USD PAD right from your wallet. There are other similar coins as well that are backed by the USD. There is USDC which is the second alternative to tether. The next is TUSD

In your list, I only trust USDC because this is a recognized coin in many major exchanges and this stablecoin trading volume is always very high. I think there are a lot of alternatives now but if there are many stablecoin appearing on this market, the risk will be much reduced because we don't have to worry too much about stablecoin discount. In my opinion, the price of $1 should be maintained during this period so that all investors can liquidate the best

[sbogovac]

Two questions.

Why are you forcing your funds into a stable coin?
Why not just go to the bank if you want stability? [...]

Because some exchanges do not support FIAT trading and some people prefer to trade against a "stable constant". With two crypto trading there are a lot of "moving" parts which make tracking (and predicting!) profits hard(-er).

For instance: I prefer Bitstamp, and they support FIAT. But I also use Gunbot (for fast automated trading), which doesn't support Bitstamp. So I use Binance (also because of the small fees), which doesn't support FIAT. So I need a "stablecoin" for my high frequency automated trading...

Hope this helped.

[beerlover]

I think usdc will be the clear best choice very soon. It is supported by Circle and that is why it is so strong. Circle has investments from Goldman Sachs and that firm is not one that will lose money in any way or sense because they have politicians in their pockets and keep bribing them meaning if there is any hit on the stable coin world because of a SEC rule or something then USDC will not be affected by it.

So, the supporters are Poloniex which is owned by Circle which is owned by Goldman Sachs, what type of power could you ever ask from a coin above this one? Maybe Winklevoss twins GUSD will be fine but for me USDC will be the new norm when this USDT thing blows over. Even binance has USDC now and that is saying much more about USDC than USDT while they are competing.

[yvesp110]

There are lots of alternatives, lots of good ones out there that you can make use of. I don't even know why some of you feel like tether is the best there is while there are so many of them are good. If you're making use of the blockchain wallet you must have heard about the USD PAX, it is another cryptocurrency that is backed by the USD. So if you have the Blockchain wallet and have also verified your identity, you will be able to exchange your Bitcoin or any of the available cryptocurrencies for USD PAD right from your wallet. There are other similar coins as well that are backed by the USD. There is USDC which is the second alternative to tether. The next is TUSD

In your list, I only trust USDC because this is a recognized coin in many major exchanges and this stablecoin trading volume is always very high. I think there are a lot of alternatives now but if there are many stablecoin appearing on this market, the risk will be much reduced because we don't have to worry too much about stablecoin discount. In my opinion, the price of $1 should be maintained during this period so that all investors can liquidate the best

Same here man! I only go with USDC because of the wide recognition and a good stability of value. There is also the true USD and I think that is something that needs to be considered if you are planning to invest in stable coin. Binance is also on its way to launch its stable coins and trust me it is going to push up BNB. Binance stable coins is pegged to British Pound.

[elewton]

I think usdc will be the clear best choice very soon. It is supported by Circle and that is why it is so strong. Circle has investments from Goldman Sachs and that firm is not one that will lose money in any way or sense because they have politicians in their pockets and keep bribing them meaning if there is any hit on the stable coin world because of a SEC rule or something then USDC will not be affected by it.

So, the supporters are Poloniex which is owned by Circle which is owned by Goldman Sachs, what type of power could you ever ask from a coin above this one? Maybe Winklevoss twins GUSD will be fine but for me USDC will be the new norm when this USDT thing blows over. Even binance has USDC now and that is saying much more about USDC than USDT while they are competing.

Your information is really rewarding because I'm also very interested in keeping USDC because the speed of transactions and cheap costs are the main reason I chose this stablecoin. In fact, USDC has a very strong management of many great exchanges and even many countries are considering using this stablecoin for many different purposes. I believe that USDC will one day beat USDT and become the leading stablecoin in this market

[logicgate]

I think usdc will be the clear best choice very soon. It is supported by Circle and that is why it is so strong. Circle has investments from Goldman Sachs and that firm is not one that will lose money in any way or sense because they have politicians in their pockets and keep bribing them meaning if there is any hit on the stable coin world because of a SEC rule or something then USDC will not be affected by it.

So, the supporters are Poloniex which is owned by Circle which is owned by Goldman Sachs, what type of power could you ever ask from a coin above this one? Maybe Winklevoss twins GUSD will be fine but for me USDC will be the new norm when this USDT thing blows over. Even binance has USDC now and that is saying much more about USDC than USDT while they are competing.

Your information is really rewarding because I'm also very interested in keeping USDC because the speed of transactions and cheap costs are the main reason I chose this stablecoin. In fact, USDC has a very strong management of many great exchanges and even many countries are considering using this stablecoin for many different purposes. I believe that USDC will one day beat USDT and become the leading stablecoin in this market

  What I read according to a recent survey is that the best stable coins in the crypto space right now is the true USD and since I have not invested in stable coins yes, I am looking forward to know more about it as well. There are news about the stable coins of Binance as well. USDC also looks to be the best coins so far. But I do not see USDC beating TUSD anytime soon.

[sbogovac]

[....] But I do not see USDC beating TUSD anytime soon.

It is already beating it by:
            Market Cap        and   Circulating Supply
TUSD: $245,554,095 USD     245,195,643 TUSD
USDC: $343,456,824 USD     343,418,236 USDC

Volume (24h) however is a different story:
TUSD: $230,429,424 USD
USDC: $105,397,940 USD 

We'll see... 

[Pipdips]

Best alternative to Tether?

USDC.

[exstasie]

            Market Cap        and   Circulating Supply
TUSD: $245,554,095 USD     245,195,643 TUSD
USDC: $343,456,824 USD     343,418,236 USDC

Volume (24h) however is a different story:
TUSD: $230,429,424 USD
USDC: $105,397,940 USD 

We'll see... 

Most of that TUSD volume is coming from BitForex, Bit-Z, and Bitinka. They are massively faking volume.

Compare the size of Binance's TUSD markets to Binance's USDC markets. That will give a more realistic idea of daily volume. It looks like TUSD has ~70% of USDC's volume, if that.

[rez303]

The coming will be a disaster for USDT if they continue to develop this way. Globlacoin is certainly more prestigious and the transaction fees are much cheaper. In the near future they will have to compete with a very big competitor and I think this will really cause big losses for USDT. Market share will be stolen by Globalcoin.

[sbogovac]

[...]Volume (24h) however is a different story:
TUSD: $230,429,424 USD
USDC: $105,397,940 USD  [...]

Most of that TUSD volume is coming from BitForex, Bit-Z, and Bitinka. They are massively faking volume.

Compare the size of Binance's TUSD markets to Binance's USDC markets. That will give a more realistic idea of daily volume. It looks like TUSD has ~70% of USDC's volume, if that.

I'm with you on this one; I use Binance too, and I use USDC for a stablecoin on it... 

[gentlemand]

The coming will be a disaster for USDT if they continue to develop this way. Globlacoin is certainly more prestigious and the transaction fees are much cheaper. In the near future they will have to compete with a very big competitor and I think this will really cause big losses for USDT. Market share will be stolen by Globalcoin.

USDT only exists within the confines of crypto exchanges. It doesn't have any use or purpose outside that. USDT's main appeal is their indifference to compliance as long as you stay within it. Facebookcoin will be a very different beast and we don't know whether they'll allow it to touch any exchanges beyond their approved ones, and even the approved ones may only allow exchanging to proper fiat currencies.

[Hypnosis00]

~snip~

Your information is really rewarding because I'm also very interested in keeping USDC because the speed of transactions and cheap costs are the main reason I chose this stablecoin. In fact, USDC has a very strong management of many great exchanges and even many countries are considering using this stablecoin for many different purposes. I believe that USDC will one day beat USDT and become the leading stablecoin in this market

Let see how it looks like when the market finally is in the bull run. It is quite some times that USDT never has good liquidity results depending on what exchanges we used. Everything will be possible as the market keeps on moving and also Tether will be no longer as its potentiality soon.
But as OP stated, he might wrong and really not a good idea of investing in Tether alone cause we know the risk, it is better to spread it in other coins to make it safe.

[Pipdips]

After I switched from USDT over to USDC things are much slower. The volume of USDC pairs is very low in comparison. For the most part, now I only trade with BTC/USDC. When I traded with USDT, I had dozens of higher volume pairs to choose from...

C'est la vie!

[spadormie]

The alternative to tether from my view is USDC. If we are talking about stacking stable coins tether is the best stable coin for me. But hey, don't stack all of your money to tether. It will not grow. Remember the word STABLE. It means it will stay the same. Bitfinex is a good exchange but putting your assets on an exchange, it shouldn't be that way. Try exchanging those tether now to btc and download electrum in which you own the private key. Put all your btc to electrum.

[yvesp110]

After I switched from USDT over to USDC things are much slower. The volume of USDC pairs is very low in comparison. For the most part, now I only trade with BTC/USDC. When I traded with USDT, I had dozens of higher volume pairs to choose from...

C'est la vie!

This is the reason I have always preferred USDT and not USDC due to factors like the low pair volume and the slow adoption rate and growth prospects. And you as you said, USDT offers you a huge option of pairs to choose form and you can choose the pair keeping in mind the price moment of the pair. In case of USDC, it keeps you limited to limited options.

[Rajbir1994]

What do you think? This is high time to leave Tether and drive into another crypto? I am a little bit confused while reading about Tether fraud from online https://all-stocks.net/featured-the-full-story-of-bitfinex-tether/ Waiting for your reply what to do next. Thank you!

[leavolnhals]

I'm quite worried that Tether will just collapse and all my trading capital will simply vanish.
Is that a valid concern? And do we have a time-frame for when things will be concluded with the latest tether fiasco.?

Would very much appreciate some insight on this.
Thanks.
TG

If you are too worried about your transactions and assets being disrupted, you should also use a few other stablecoins. In the crypto market, there are many types of stablecoins, such as PAX, USDC, TUSD, ...
You don't need to use USDT and become too nervous. We have many options bro, relax.

[Rajbir1994]

I'm quite worried that Tether will just collapse and all my trading capital will simply vanish.
Is that a valid concern? And do we have a time-frame for when things will be concluded with the latest tether fiasco.?

Would very much appreciate some insight on this.
Thanks.
TG

If you are too worried about your transactions and assets being disrupted, you should also use a few other stablecoins. In the crypto market, there are many types of stablecoins, such as PAX, USDC, TUSD, ...
You don't need to use USDT and become too nervous. We have many options bro, relax.

That's a very good idea you discovered. In this way, the OP allaeast will get some relaxed.

[its-a-me-mario]

I'm a huge fan of DAI because it's a stablecoin that is decentralized and not backed by USD deposits.

If you want a centralized option backed by USD, USDC is the best option IMO.

[exstasie]

What do you think? This is high time to leave Tether and drive into another crypto? I am a little bit confused while reading about Tether fraud from online https://all-stocks.net/featured-the-full-story-of-bitfinex-tether/ Waiting for your reply what to do next. Thank you!

The market disagrees. Tether's market cap has plateaued above $4 billion and shows no signs of dropping: https://coinmarketcap.com/currencies/tether/

If you are too worried about your transactions and assets being disrupted, you should also use a few other stablecoins. In the crypto market, there are many types of stablecoins, such as PAX, USDC, TUSD, ...
You don't need to use USDT and become too nervous. We have many options bro, relax.

The liquidity is lacking on all non-USDT stablecoins though. USDC is okay on Binance, but even as a smaller trader I've struggled at times to get in/out of positions quickly. It's even worse everywhere else.

I'm a huge fan of DAI because it's a stablecoin that is decentralized and not backed by USD deposits.

DAI is super cool. I love the idea of hedging USD value with a decentralized token. I just wish the markets were bigger. Coinbase and Kraken launched markets but they are very disappointing.

[tbterryboy]

I was about to mention the TrueUSD but you already said you don't like it and you also not interested in USDCoin. Okay, what about PAXOS STANDARD (PAX)? Their token is regulated and it's approved by the New York State Department of Financial Services. You should check it out and read more about them. Their already wallets that are offering them. If you have Blockchain wallet you will see the coin in your wallet and you can exchange to it. Their own exchange is itbit.com and it's also listed on other exchanges.

Apart from PAX there is also Gemini Dollar (GUSD) offered by Gemini exchange. I discovered this coin around the time PAX was launched so I think they came out the same time. And based on the information I have on them, they are really good.

[its-a-me-mario]

What do you think? This is high time to leave Tether and drive into another crypto? I am a little bit confused while reading about Tether fraud from online https://all-stocks.net/featured-the-full-story-of-bitfinex-tether/ Waiting for your reply what to do next. Thank you!

The market disagrees. Tether's market cap has plateaued above $4 billion and shows no signs of dropping: https://coinmarketcap.com/currencies/tether/

If you are too worried about your transactions and assets being disrupted, you should also use a few other stablecoins. In the crypto market, there are many types of stablecoins, such as PAX, USDC, TUSD, ...
You don't need to use USDT and become too nervous. We have many options bro, relax.

The liquidity is lacking on all non-USDT stablecoins though. USDC is okay on Binance, but even as a smaller trader I've struggled at times to get in/out of positions quickly. It's even worse everywhere else.

I'm a huge fan of DAI because it's a stablecoin that is decentralized and not backed by USD deposits.

DAI is super cool. I love the idea of hedging USD value with a decentralized token. I just wish the markets were bigger. Coinbase and Kraken launched markets but they are very disappointing.

Yeah one of the biggest issues w/all the different options for stablecoins is that its just spreading liquidity thin across a bunch of base pairs. When it was just USDT that was great since it had lots of volume. Unless exchanges decide to really care that DAI is the most ideal approach to a stablecoin, I don't think it will be a viable trading pair until the overall market has a LOT more liquidity and volume.

[cryptothreads]

I was about to mention the TrueUSD but you already said you don't like it and you also not interested in USDCoin. Okay, what about PAXOS STANDARD (PAX)? Their token is regulated and it's approved by the New York State Department of Financial Services. You should check it out and read more about them. Their already wallets that are offering them. If you have Blockchain wallet you will see the coin in your wallet and you can exchange to it. Their own exchange is itbit.com and it's also listed on other exchanges.

Apart from PAX there is also Gemini Dollar (GUSD) offered by Gemini exchange. I discovered this coin around the time PAX was launched so I think they came out the same time. And based on the information I have on them, they are really good.

Currently, USDT is still the first choice of many investors because this stable coin always has a high volume of transactions and is easy liquidatity than other stable coins. Maybe the options you listed are quite good, but USDT always has trading pairs with all altcoins in this market. Currently, I only see USDCoin has the most potential in the near future because this coin is starting to become more popular.

In my opinion, holding many stable coins does not bring much profit and should only choose 1 or 2 to ensure you the absolute safety when participating in this market.

[Shasha80]

If you are worried about saving money in USDT, because of the bad news that is developing about USDT. There really is an alternative
to stable coins, I would recommend Dai coin and USDC. Both of them in my opinion are the best alternative to tether (USDT), especially
DAI coins very recommend. Besides its price which is stable, but DAI is not centralized. DAI is decentralization built on ethereum blockchain.
So in my opinion there is no doubt the potential of the DAI coin. Or if you are still in doubt about the DAI coin, you can choose USDC as an
alternative to tether.

[kanayaTabitha]

THe second best stablecoin after tether is USDC but if you want more alternative i could list the top 5 big volume of stable coins after tether and USDC

1. Paxos Standard PAX
$228.44M

2. TrueUSD TUSD
$168.9M

3. Dai DAI
$102.86M

4. STASIS EURO EURS
$35.16M

5. Binance USD BUSD
$17.93M

This list is refers to cryptoslate website. you can see the full list here https://cryptoslate.com/cryptos/stablecoin/

[beerlover]

Facebookcoin will be a very different beast and we don't know whether they'll allow it to touch any exchanges beyond their approved ones, and even the approved ones may only allow exchanging to proper fiat currencies.

If libra were to happen that would have been the best alternative to it but unfortunately it looks like it is going to be postponed for a while and probably even cancelled so I doubt we will have Libra as an alternative.

Everyone was against Libra and the whole world wanted to stop Facebook from creating it and they might have managed to achieve that from the looks of it but what they are forgetting is that facebook would have been an improvement over the horrible companies we have right now, plus would be funny to see Winklevoss twins having a stable currency and Mark Zuckerberg also creates a better version of their stable currency .

Right now, the only one that looks semi-legit is USDC and even that doesn't look too comfortable to me right now so fiat is where I directly go to.

[exstasie]

Yeah one of the biggest issues w/all the different options for stablecoins is that its just spreading liquidity thin across a bunch of base pairs. When it was just USDT that was great since it had lots of volume. Unless exchanges decide to really care that DAI is the most ideal approach to a stablecoin, I don't think it will be a viable trading pair until the overall market has a LOT more liquidity and volume.

That won't happen. The exchanges are all incentivized to promote their own stablecoin, like Coinbase paying interest on USDC now. At the least, they are earning interest off stablecoin holders, but more importantly, they are keeping traders oriented towards their own market liquidity. Coinbase wants you to stay in the USDC markets, not withdraw DAI to competing exchanges.

[ajaymukund]

If you're really worried about it, you should diversify your portfolio. such as holding more stablecoins like USDC and PAX. Those are the stablecoins I've used and it's great.
Or you can use your USDT to buy more than Ethereum or XRP, although its value is not stable but it will certainly grow in the long run. Hope you will have good luck and success.

[Pearls Before Swine]

Please do not keep your coins in an exchange. If anything happens to the exchange then you are going to lose the asset.

Best advice ever for anyone in crypto, and it's something all newbies ought to learn right when they get into crypto.

Op is all in on Tether?  Why??  If you're into cryptocurrency, why bother with a stable coin that's pegged to fiat?  You might as well keep your cash in a safe, as it would probably be safer.

If libra were to happen that would have been the best alternative to it but unfortunately it looks like it is going to be postponed for a while and probably even cancelled so I doubt we will have Libra as an alternative.

Why would one stable coin be better than another?  What is it about libra that would make it more attractive than Tether?  In my mind they'd both be equally as useless to own.  There's no profit to be made and no reason to hold either one.  Inflation works to devalue fiat, so it's going to devalue stable coins as well.

[Findingnemo]

No stable coin is safe and all the stable coins are the same so no need to find an alternative for a stable coin which got more trading volume and listed on most of the top-rated exchanges, if you still want then go for USDC, don't trust anything with less trading volume.

[Exidous]

No stable coin is safe and all the stable coins are the same so no need to find an alternative for a stable coin which got more trading volume and listed on most of the top-rated exchanges, if you still want then go for USDC, don't trust anything with less trading volume.

Depend on the thinking of each person but currently USDT and USDC are still the two most stable stable coins in this market and ensure the safety of investors when participating in transactions. USDC seems to me better and is being widely used throughout this year so USDC may one day overcome USDT dominance in the near future. Investors now have a variety of stable coin options but USDC should be considered more.

[pawanjain]

It's quite simple.

You will first have to decide the alternative between stable coins and altcoins.
To be honest, there aren't much trusted stable coins available in the market.
There are a plenty of altcoins available though. You should go for the next best altcoin which here should be ETH followed by BCH, BNB etc..
The more potential the coin is, the lesser risk of losing your money in the long run.

[Taskford]

THe second best stablecoin after tether is USDC but if you want more alternative i could list the top 5 big volume of stable coins after tether and USDC

1. Paxos Standard PAX
$228.44M

2. TrueUSD TUSD
$168.9M

3. Dai DAI
$102.86M

4. STASIS EURO EURS
$35.16M

5. Binance USD BUSD
$17.93M

This list is refers to cryptoslate website. you can see the full list here https://cryptoslate.com/cryptos/stablecoin/

I don't on the state of those 4 mentioned coins since for what I see is they got a pretty much little volatility but on one of your list is I think good since I'm using it for many months right now and the price seems stagnant and safe since the value Nevers go down and also never goes up and this token is the TrueUSD  which we can go on if we don't want to lose on the harsh volatility state of the market.

[2double0]

I would prefer Binance USD (BUSD) over any other coin that is an alternative to fiat because Binance had been here for just a few years and what a great progress had been presented by them, I am seeing their project to be running for at least a decade or two and with that, you can be rest assured that BUSD will not ditch you in the long run while you fear that Tether could foul play after Bitfinex shutdown.

[Findingnemo]

No stable coin is safe and all the stable coins are the same so no need to find an alternative for a stable coin which got more trading volume and listed on most of the top-rated exchanges, if you still want then go for USDC, don't trust anything with less trading volume.

Depend on the thinking of each person but currently USDT and USDC are still the two most stable stable coins in this market and ensure the safety of investors when participating in transactions. USDC seems to me better and is being widely used throughout this year so USDC may one day overcome USDT dominance in the near future. Investors now have a variety of stable coin options but USDC should be considered more.

USDC is from coinbase so if OP is going to use Coinbase trading platform then its better to choose it, literally stable coins are also not stable they have changes in value from one dollar it might increase or decrease in a small percentage. Stable coin not for investors it's only for traders.

[el kaka22]

Binance USD BUSD
$17.93M

Believe it or not, I still think Binance USD will be the best out of all of them. We are talking about something that Binance is doing and these dudes have been doing everything so amazingly that none of their products have failed so far, that is why I think this one won't end up being horrible neither.

Maybe it won't be the first one and maybe there will be a better one in the end but just because there is one at the top doesn't mean Binance USD will not be used unless Binance decides to stop it themselves. Whatever we end up using in the end as much as possible I just hope it won't be tether, as long as humanity stops using tether and tries to get their money back from them (eventually can't because they don't have enough money) and evidently sue them for it, that's better for me.

[bohr]

Facebookcoin will be a very different beast and we don't know whether they'll allow it to touch any exchanges beyond their approved ones, and even the approved ones may only allow exchanging to proper fiat currencies.

If libra were to happen that would have been the best alternative to it but unfortunately it looks like it is going to be postponed for a while and probably even cancelled so I doubt we will have Libra as an alternative.

Everyone was against Libra and the whole world wanted to stop Facebook from creating it and they might have managed to achieve that from the looks of it but what they are forgetting is that facebook would have been an improvement over the horrible companies we have right now, plus would be funny to see Winklevoss twins having a stable currency and Mark Zuckerberg also creates a better version of their stable currency .

Right now, the only one that looks semi-legit is USDC and even that doesn't look too comfortable to me right now so fiat is where I directly go to.

But trying to get fiat for your cryptocurrencies has its own set of problems, one of those are the costs, if at some point you want to buy cryptocurrencies again then you will be charged an important fee and the time it takes to convert your fiat to bitcoin and your bitcoin to fiat are many times slower than just using a stable coin, and finally you may need to pay some taxes on that money and this will reduce your available capital to buy cryptocurrencies again.

[exstasie]

Believe it or not, I still think Binance USD will be the best out of all of them. We are talking about something that Binance is doing and these dudes have been doing everything so amazingly that none of their products have failed so far, that is why I think this one won't end up being horrible neither.

They did get compromised.....twice. The first time, KYC data was leaked. The second time, their hot wallet. Their US launch was disappointing and so is their futures platform.

I don't see any reason for BUSD to surpass more reputable options like USDC.