Best alternative to Tether?

[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.

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[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.