What are the trusted stablecoins to save money long-term?

[Shallow]

Going down to the fact, i think it is a bad idea keeping funds in stablecoins for a long time, stablecoins are always used within a certain time frame or most of the times for trading but for long term it is not advisable; instead the best coin to hold for long term is Bitcoin. Nevertheless, it is your opinion, and you know best and since you don't trust USDT, then I can suggest DAI, although it is not huge like USDT but I think it will serve a good purpose. Lastly I still maintain my stand, going for Bitcoin is the best step.

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[Psynthax]

I can't keep my fund in stable coin for too long. I don't have absolute trust on them like I have always trusted my ailng fiat. I only use stable coin during a bad market day or for trading pair that has only stable coin, otherwise, I am.always on bitcoin or any other good altcoins.

exactly, trusting money to a private company, it's just even worse than trusting money in a centralized bank where atleast they comply with the regulation and law but private company could turn 180 degree just by the owner or the executives decision alone and I'm not going to risk that.

[bussybuddy]

I only trust USDT in this market, so if you want your assets to be safe in the long term, you can choose USDT and hold. But it will definitely waste your time and opportunity, if you hold the top altcoins in this market then I believe you will get more profits from it.

[StephenJH]

To tell the truth, l could not understand your statement, l mean what is your purpose of holding stable coins for long term investing. There will not change price of coins, that is why it is stable. Maybe you can prefer any other altcoins instead of stable coins, it can be worthwhile to hold top altcoins, but never stable coins can give you any profit.

[Lanatsa]

I am looking for the best trusted stablecoins to save money long-term between 6 months and 1 year for reasons of personal worries.

Tether (USDT)
USD Coin (USDC)
TrueUSD (TUSD)
Dai (DAI)
Paxos Standard (PAX)

You can choose on what suits you but if i were you i wont tend form my funds to sit into these things for too long
even it do talks about stability.

To tell the truth, l could not understand your statement, l mean what is your purpose of holding stable coins for long term investing. There will not change price of coins, that is why it is stable. Maybe you can prefer any other altcoins instead of stable coins, it can be worthwhile to hold top altcoins, but never stable coins can give you any profit.

In investment talks then its totally nonsense if you do try to consider on putting up your funds on stablecoin but as we have read up on what op's been telling that
he do tend to save it up between 6 months to 1 year and also doesnt like to worry about taxes then there were several stable coins that most people know
like USDT.

[Valzador]

To tell the truth, l could not understand your statement, l mean what is your purpose of holding stable coins for long term investing. There will not change price of coins, that is why it is stable. Maybe you can prefer any other altcoins instead of stable coins, it can be worthwhile to hold top altcoins, but never stable coins can give you any profit.

he wants to save money in crypto so that it is not taxed, and maybe he intends to save not for investment, I find no other purpose besides saving

[electronicash]

To tell the truth, l could not understand your statement, l mean what is your purpose of holding stable coins for long term investing. There will not change price of coins, that is why it is stable. Maybe you can prefer any other altcoins instead of stable coins, it can be worthwhile to hold top altcoins, but never stable coins can give you any profit.

he wants to save money in crypto so that it is not taxed, and maybe he intends to save not for investment, I find no other purpose besides saving

or he could be waiting for the right time to buy the coins. during the bear market since the early 2018, many of the traders are simply putting their coins into stable coin and waited for the momentum. and when it hit $3k they started buying BTC back. a friend collected 300BTC while he was just a bounty hunter who learned how these traders do it in times of uncertainty.

[imoet]

I am looking for the best trusted stablecoins to save money long-term between 6 months and 1 year for reasons of personal worries.

I currently use PAXOS Standard, USDC are trusted or not the market may collapse in the near future as NuBits, StableUSD, USDQ, CK USD dollars crashed ! . I currently do not trust USDT Tether because the market is exactly the same .

Trueusd is not trustworthy but what can you say?
Dai, Sai is another stablecoin but it is very fragile if the market drops sharply especially on maker, ethereum, When do you think?
Gemini Dollar a good stablecoin? very little exchange accepts it.
Binance USD similar to paxos is the same.
HUSD I don't know very recent .

it could also be useful for other people this discussion. When do you say what your opinions are on trusted stablecoins?

I do not wish to add money to the bank because the tax applies  .
Update 26/05/2020
read the page 2.

You use stable coins for facing personal worries.  It will be more secure if you save it in other place too.  But I also suggest you to invest in something huge investation.  You should not worry about tax.  I assume you worry about it.  Everything has the risk.

[Twinkledoe]

I don't think there is one stable coin that you can trust long term. All of them can collapse anytime as they are centralized. Once the owners or one of the owners decides to leave and sell off his share, it will incur huge change for that stable coin and might not recover. Also, we don't know the absolute truth about their claims of being backed by certain fiat money. What is the assurance that they are indeed saying the truth about their reserves, even USDT admitted at one time that they were not fully backed by US$?

[khiholangkang]

or he could be waiting for the right time to buy the coins. during the bear market since the early 2018, many of the traders are simply putting their coins into stable coin and waited for the momentum. and when it hit $3k they started buying BTC back. a friend collected 300BTC while he was just a bounty hunter who learned how these traders do it in times of uncertainty.

If he waits for the right time to buy coins, I think now is also the right time if he will hold it for the long term. Look at the history of Bitcoin prices always go up from year to year.

[Chuky92]

Owing to the fact your title attracted my attention, I will start with it first; the answer is none, and my reason is that, I have come to the understanding that any long term holding is good to be done with major coins starting with Bitcoin as the first choice or altcoins starting with ETH, but more preferably Bitcoin. Now in another opinion, it is the truth that many things have been said about USDT, but why is it still being used by a good number of people, therefore my opinion is still with USDT as the better one for long term. I wish you change your mind and go for Bitcoin instead.

[kotajikikox]

I am looking for the best trusted stablecoins to save money long-term between 6 months and 1 year for reasons of personal worries.

I currently use PAXOS Standard, USDC are trusted or not the market may collapse in the near future as NuBits, StableUSD, USDQ, CK USD dollars crashed ! . I currently do not trust USDT Tether because the market is exactly the same .

Trueusd is not trustworthy but what can you say?
Dai, Sai is another stablecoin but it is very fragile if the market drops sharply especially on maker, ethereum, When do you think?
Gemini Dollar a good stablecoin? very little exchange accepts it.
Binance USD similar to paxos is the same.
HUSD I don't know very recent .

it could also be useful for other people this discussion. When do you say what your opinions are on trusted stablecoins?

I do not wish to add money to the bank because the tax applies  .
Update 26/05/2020
read the page 2.

You dont like Tether USDT?then what option you want to hear from us?look at tether now always taking the number 3 spot from ripple so what do you want here?

and besides why look for stable coin when you can invest in Good moving currencies like Bitcoin and ethereum?
make your mind and think twice before putting your money in stable coins because you might regret that in future.

[bitbollo]

@OP why store long-term?
Have you ever read and understand the full "Terms & Agreements" that using any stablecoin require?
I mean, you're assuming double risk.
First that FIAT Collapse or it become more worthless.
Second that you violate some rules inside their long long list of condition that you're accepting when using this stablecoins.
Third if you store it in an exchange you are not totally controlling it (and more over they are operating without any legal rules = no complaints!)
Fourth if you store in their wallet, you're just using a centralized coin that can be each time sized, or they can just stop to update = risk to be hacked
Fifth , these are centralized project and they can always mod. their rules and add "taxes" or other tools... I mean you're accepting their rules when start to using their "Product".
etc etc etc.

I am quoting just one T&A (edited) since I don't want to talk about any in particular, but I don't want assume all of these risks for having a not regulated FIAT money in my portfolio. If we are using bitcoin and other crypto is the reason WHY we should try to bypass the classic financial system.

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Using stablecoins it's something totally different from using crypto.

XXXX reserves the right to “blacklist” certain USDC addresses and freeze associated USDC (temporarily or permanently) that it determines, in its sole discretion, are associated with illegal activity or activity that otherwise violates the terms of this User Agreement (“Blacklisted Addresses”).
 In the event that you send USDC to a Blacklisted Address, or receive USDC from a Blacklisted Address, XXXX may freeze such USDC and take steps to terminate your USDC Account.  In certain circumstances, XXXX may deem it necessary to report such suspected illegal activity to applicable law enforcement agencies and you may forfeit any rights associated with your USDC, including the ability to redeem USDC for U.S. Dollars.
XXXX may also be forced to freeze USDC and/or surrender associated U.S. Dollars held in Segregated Accounts in the event it receives a legal order from a valid government authority requiring it to do so.
....
You are aware of and accept the risk of operational challenges. XXXX may experience sophisticated cyber-attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to the USDC Services. You understand that the USDC Services may experience operational issues that lead to delays, including delays in redeeming USDC. You agree to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. You agree not to hold XXXX accountable for any related losses.

Last but not least, there are a lot of concerns about the future of these stablecoins (the actual version we are seeing during these days) just to quote one of the last news/analysis that I have read about them...
https://www.ibtimes.com/do-crypto-stablecoins-threaten-financial-stability-2980148

[Raflesia]

I don't think there is one stable coin that you can trust long term. All of them can collapse anytime as they are centralized. Once the owners or one of the owners decides to leave and sell off his share, it will incur huge change for that stable coin and might not recover. Also, we don't know the absolute truth about their claims of being backed by certain fiat money. What is the assurance that they are indeed saying the truth about their reserves, even USDT admitted at one time that they were not fully backed by US$?

Indeed stable coins in cryptocurrency are centralized so when the team dies it will all just collapse, but I see this will not happen what you say even though these stable coins are not supported by banknotes or USD then it will remain more stable at the same thing its in dollars.

I think in an era like this going digital, stable coins will be more interested in cryptocurrency.

[Mister.Satan]

You kinda get the general idea about stable coins and how 'trusted' it is with lot of replies in here. Since you have your own circumstances regard to tax and bank so I guess if I have to make a choice, USDT then. If sh*t hit the fan of stable coin like USDT, you bet you're not alone in losing your assets and don't buy any crap with a slogan 'trusted stable coin'.

[imstillthebest]

I don't think there is one stable coin that you can trust long term. All of them can collapse anytime as they are centralized. Once the owners or one of the owners decides to leave and sell off his share, it will incur huge change for that stable coin and might not recover. Also, we don't know the absolute truth about their claims of being backed by certain fiat money. What is the assurance that they are indeed saying the truth about their reserves, even USDT admitted at one time that they were not fully backed by US$?

Indeed stable coins in cryptocurrency are centralized so when the team dies it will all just collapse, but I see this will not happen what you say even though these stable coins are not supported by banknotes or USD then it will remain more stable at the same thing its in dollars.

I think in an era like this going digital, stable coins will be more interested in cryptocurrency.

dont wish it will happen guys lol  . i dont believe it is owned by 1 owner only but it can be owned by different people or what we call team so if  there is something bad happen to 1 owner , other members can get the ownership to continue the coin running  .  price wont also collapse obviously because for what if they call it or built something that is stable / stable coin    . being centralized isnt a big deal for most of us but as long as this coin was useful we will always use it

[ethereumhunter]

or he could be waiting for the right time to buy the coins. during the bear market since the early 2018, many of the traders are simply putting their coins into stable coin and waited for the momentum. and when it hit $3k they started buying BTC back. a friend collected 300BTC while he was just a bounty hunter who learned how these traders do it in times of uncertainty.

If he waits for the right time to buy coins, I think now is also the right time if he will hold it for the long term. Look at the history of Bitcoin prices always go up from year to year.

We can suggest him to buy bitcoin, but it seems, he doesn't want to add more bitcoin in his wallet. If I were him, I would buy more bitcoin, especially if the price is down because that will be a big discount for me to get bitcoin. After that, I will hold the bitcoin for some time until the price can jump to the higher price so I can sell it right away. After I get the money, I will withdraw the money into my bank account, but I don't want to withdraw all of the money because I want to buy bitcoin again if the price gets dump after it increases. But we have a different strategy, and I think he knows what he did.

[cryptonx]

why choose a stablecoins to save your money in long term mate ?
as i knew if we save stablecoins the value will be same from time to time

[SacriFries11]

You kinda get the general idea about stable coins and how 'trusted' it is with lot of replies in here. Since you have your own circumstances regard to tax and bank so I guess if I have to make a choice, USDT then. If sh*t hit the fan of stable coin like USDT, you bet you're not alone in losing your assets and don't buy any crap with a slogan 'trusted stable coin'.

If his going with stable coins for investment then what's the purpose of investing if its not gaining. I don't understand his point in making that decision and its looks like he find a wrong token to invest with. He should try to go straight in investing. Choose BTC, ETH or BNB. Don't be greedy in tokens thats offer you much profit just a small amount of time.

[Google+]

why choose a stablecoins to save your money in long term mate ?
as i knew if we save stablecoins the value will be same from time to time

Coins that have stable price movements are more likely to not be able to make a profit because I think traders are profiting from utilizing the ups and downs of cryptocurrency prices, when there is no movement I think it will only be a waste of time because the money you invest cannot grow.