Brett Verlander (OP)
Newbie
Offline
Activity: 1
Merit: 0
|
|
October 17, 2020, 04:40:30 PM |
|
If I want to cash out for stability should I use DAI or USDT? What do you people think is safer?. I read tether can be frozen by a central authority but also dai may not be totally secure from what I've heard.
|
|
|
|
|
|
|
|
In order to get the maximum amount of activity points possible, you just need to post once per day on average. Skipping days is OK as long as you maintain the average.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
UserU
|
|
October 17, 2020, 05:44:02 PM |
|
Well, DAI is backed by ETH while USDT is by fiat currency, and contrary to popular belief, not just US Dollars. Former is decentralized (harder to track) and latter is centralized (easier).
So both are not foolproof. But if I were you, I'd go for USDT since it's one of the most liquid stablecoins.
|
. .500 CASINO.██ | ▄▀ | ▄
▄ | | . THE HOTTEST CRYPTO CASINO & SPORTSBOOK | | ▄▄▄████████████ ▄▄▄███████████████████ ▐█████████████████████ █████████████████████ ▐███████████████████ ▐███████████████████ ███████████████████ ██████▀█████▀██████ ▐████████▀█████████ ▐███████████████████ ███████████████████ ▐███████████████████ ▀██████▀▀▀▀▀▀ ▀▀▀█ | ▄▄▄▀▀▀▀▀▀▀▄▄▄ ▄▄▀▀▄ ▄ ▀ ▀ ▀ ▄ ▄▀▀▄▄ ▄▀▄ ▀ ▀ ▄▀▄ █ ▄ ▄ █ █ ▄ █████ ▄███▄ ▄███▄ ▄ █ █ ▄ ██▄▄ ██ ██ ██ ██ ▄ █ █ ▄ ▀▀▀██ ██ ██ ██ ██ ▄ █ █ ▄ ▄▄ ██ ██ ██ ██ ██ ▄ █ █ ▄ ▀███▀ ▀███▀ ▀███▀ ▄ █ █ ▄ ▄ █ ▀▄ ▀ ▄ ▄ ▀ ▄▀ ▀▀▄▄ ▀ ▄ ▄ ▄ ▄ ▀ ▄▄▀▀ ▀▀▀▄▄▄▄▄▄▄▀▀▀ | █▄▄▄██████████▄▄▄ ███████████▀██▀▀██▄▄ ███████████████████▄ █████████████████████ ████▄████▄███████▄███ █████████████████████ ████▀████▀███████▀███ █████████████████████ ███████████████████▀ ███████████▄██▄▄██▀▀ ▀▀▀██████████▀▀▀ | | ► ORIGINALS
► SLOTS | | ► LIVE GAMES
► SPORTSBOOK | ▄
▄
| ▀▄ | . ██..PLAY NOW.. |
|
|
|
tyz
Legendary
Offline
Activity: 3360
Merit: 1531
|
|
October 17, 2020, 06:46:44 PM |
|
Such "crypto"-currencies should only be held short-term, in order to cushion short-term exchange rate fluctuations in the actual crypto currency. Therefore it does not matter if USDT or DAI is used. In the long run, such currencies should not be held, as there are regular allegations of fraud (see Tether).
|
|
|
|
slackovic
Legendary
Offline
Activity: 2436
Merit: 1218
|
|
October 17, 2020, 07:03:45 PM |
|
If I want to cash out for stability should I use DAI or USDT? What do you people think is safer?. I read tether can be frozen by a central authority but also dai may not be totally secure from what I've heard.
Nothing is 100% secure in crypto. However, if I were you I would probably put my money into DAI since it's truly decentralized stablecoin. Tether is probably better for traders because it's pairs have much higher trading volume than pairs with other stablecoins. But since you're asking for a stablecoin to cash out, I'd go with DAI.
|
. .BLACKJACK ♠ FUN. | | | ███▄██████ ██████████████▀ ████████████ █████████████████ ████████████████▄▄ ░█████████████▀░▀▀ ██████████████████ ░██████████████ █████████████████▄ ░██████████████▀ ████████████ ███████████████░██ ██████████ | | CRYPTO CASINO & SPORTS BETTING | | │ | | │ | ▄▄███████▄▄ ▄███████████████▄ ███████████████████ █████████████████████ ███████████████████████ █████████████████████████ █████████████████████████ █████████████████████████ ███████████████████████ █████████████████████ ███████████████████ ▀███████████████▀ ███████████████████ | | .
|
|
|
|
nakamura12
|
|
October 17, 2020, 07:38:11 PM |
|
It depends on what you want to do next after cashing out. If you are planning on something after cashing out then you should go for USDT as it has more pairs in exchange but you can also choose DAI since dai also have pairs in exchange. So, choose what you prefer DAI or USDT. Just do it carefully. It is you who can make your crypto safe.
|
| | | | | | | ███▄▀██▄▄ ░░▄████▄▀████ ▄▄▄ ░░████▄▄▄▄░░█▀▀ ███ ██████▄▄▀█▌ ░▄░░███▀████ ░▐█░░███░██▄▄ ░░▄▀░████▄▄▄▀█ ░█░▄███▀████ ▐█ ▀▄▄███▀▄██▄ ░░▄██▌░░██▀ ░▐█▀████ ▀██ ░░█▌██████ ▀▀██▄ ░░▀███ | | ▄▄██▀▄███ ▄▄▄████▀▄████▄░░ ▀▀█░░▄▄▄▄████░░ ▐█▀▄▄█████████ ████▀███░░▄░ ▄▄██░███░░█▌░ █▀▄▄▄████░▀▄░░ █▌████▀███▄░█░ ▄██▄▀███▄▄▀ ▀██░░▐██▄░░ ██▀████▀█▌░ ▄██▀▀██████▐█░░ ███▀░░ | | | | |
|
|
|
tranthidung
Legendary
Offline
Activity: 2268
Merit: 4012
Farewell o_e_l_e_o
|
|
October 18, 2020, 03:12:09 AM Last edit: October 18, 2020, 03:26:49 AM by tranthidung Merited by suchmoon (4), ABCbits (1), mk4 (1), DdmrDdmr (1) |
|
If I want to cash out for stability should I use DAI or USDT? What do you people think is safer?.
All of these are wrong, from my opinion that is based on my analyses. Let's see - Stablecoins are not stable as most of people thought. Their price change with bitcoin price movements and the range of price changes show that they are not stable. For more details, please see at Bitcoin pumps/ dumps and altcoin price actions (2013 - 2020) (scroll at bottom of that OP to get the section for stablecoins)
- DAI's volume is very very small compares to volume of USDT and other stablecoins (see below chart)
All the charts below are for the observed period from 01/01//2019 to 10/10/2020, except the chart only for DAI - the period is 22/11/2019 to 10/10/2020. For DAI- DAI is the most unstable among stable coins. Look at the box plot to see how wide range of its price changes with BTC pumps/ dumps (click on my topic above to see my variable definitions for BTC pump and dump that are used for the analysis)
- The changes of DAI prices between 2 consecutive days shows it is not stable. You can not call a coin is stable if it has a range of changes from -5% to +5%. If you use that definition, you should call all stocks on the stock market are stable stocks.
- BTC pump/ dump effects
- BTC pump: DAI is the most vulnerable stablecoin (see box plot: wide of box and whiskers)
- BTC dump: DAI is the second most vulnerable stablecoin, just behind GUSD (also see box plot & whiskers)
- DAI's daily volume are terribly much lower than other stablecoins' volume
I read tether can be frozen by a central authority but also dai may not be totally secure from what I've heard.
It is what you meant. PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets My advise- If you accept risks of stable coins (freeze), you should decentralize your capital into different stable coins.
- Allocate big part of your stablecoin portfolio for stablecoins that have bigger daily volume.
- According to volume time-series plots, the orders of priority would be: USDT, PAX, TUSD (last 2 are almost the same, notice that their volumes fall recently)
- Make your own investigations on those companies as well. Above are simply statistics
|
|
|
|
mk4
Legendary
Offline
Activity: 2758
Merit: 3831
Paldo.io 🤖
|
USDT: more "stable" in price but obviously centralized, and the fact that they can freeze your funds.
DAI: a lot less "stable" in price, but a bit less centralized and it's non-custodial.
Personally, honestly probably just hold real USD lol. I'm not really comfortable in holding both stablecoins for long periods of time.
|
|
|
|
CryptopreneurBrainboss
Legendary
Offline
Activity: 2254
Merit: 4154
eXch.cx - Automatic crypto Swap Exchange.
|
|
October 18, 2020, 04:09:14 AM |
|
Totally depends on what your intentions are, if you're just trying to avoid further lost in a scenario when the market is experiencing some downtrend and also looking for a stablecoin with far better liquidity rate then the best and preferable stablecoin has to be Tether although that doesn't mean tether is the best stablecoin out there. When liquidity are brought into the conversation, tether has more advantage over other stablecoins but as the previous users before me has highlighted, they're very centralized to the extent they can freeze your assets without your concept. I'm not a big fan of tether, they have very questionable reputation you can read more on their scandals here; Tether’s $20 Billion Scandal: Here’s What We Know So Far by Hackernoon. From forbes; Even before this most recent controversy, USDT has long-faced accusations of being under-capitalized. This is important because if there are not sufficient reserves to back up each USDT in circulation, there could be a run on the asset and its price would plummet. The reason why this is even a question is because up until very recently (November 2018) Tether refused to disclosed their banking relationships (Deltec Bank in the Bahamas). Without knowing this information, it is impossible to audit or verify the company’ fiat reserves. Dia on the other handle is a purely decentralized stablecoin that's backed by ethereum's smart contract. Its comparison to tether isn't something the community is new to. You can read more here; Here's a summary While both stablecoin serve the same purpose, they differ a lot in the way they work and other parameters like trusted/trustless, automation, etc. Tether has the advantage of being the oldest, while DAI has an advantage of open-source, trusted and decentralized. Tether has counterparty and credit risk, but DAI has an issue with its complex design. So you need to evaluate which one suits your needs, if you are looking for something to shop on Dapps, DAI would be helpful, but Tether can be used in more comprehensive exchanges for trading.
|
|
|
|
joniboini
Legendary
Offline
Activity: 2184
Merit: 1792
|
|
October 18, 2020, 07:27:24 AM |
|
If your main exchange has both pairs, and you just need to protect your assets from short term volatility, I think both are fine to use. But if your main exchange has USDT as the main pair, and DAI pairs are not that good, maybe USDT is better.
If you plan to hold for months or years, then as somebody has suggested above, you should hold fiat instead.
|
| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
|
|
|
madnessteat
Legendary
Offline
Activity: 2240
Merit: 2003
|
|
October 18, 2020, 10:28:46 AM |
|
I only use stablecoins for instant calculations and I prefer to use USDT more for this because these tokens can be used in different ecosystems: ETH, TRX and EOS. I would not recommend storing funds in the long term using stablecoins as there are risks of losing your funds.
|
| . .Duelbits. | │ | | │ | ▄▄█▄▄░░▄▄█▄▄░░▄▄█▄▄ ███░░░░███░░░░███ ▀░░░▀░░▀░░░▀░░▀░░░▀ ▄░░░░░░░░░░░░ ▀██████████ ░░░░░███░░░░▀ ░░█░░░███▄█░░░█ ░░██▌░░███░▀░░██▌ ░█░██░░███░░░█░██ ░█▀▀▀█▌░███░░█▀▀▀█▌ ▄█▄░░░██▄███▄█▄░░▄██▄ ▄███▄ ░░░░▀██▄▀ | . REGIONAL SPONSOR | | ███▀██▀███▀█▀▀▀▀██▀▀▀██ ██░▀░██░█░███░▀██░███▄█ █▄███▄██▄████▄████▄▄▄██ ██▀ ▀███▀▀░▀██▀▀▀██████ ███▄███░▄▀██████▀█▀█▀▀█ ████▀▀██▄▀█████▄█▀███▄█ ███▄▄▄████████▄█▄▀█████ ███▀▀▀████████████▄▀███ ███▄░▄█▀▀▀██████▀▀▀▄███ ███████▄██▄▌████▀▀█████ ▀██▄███▀██▄█▄▄▄██▄████▀ ▀▀██████████▄▄███▀▀ ▀▀▀▀█▀▀▀▀ | . EUROPEAN BETTING PARTNER | |
|
|
|
cryptoaddictchie
Legendary
Offline
Activity: 2072
Merit: 1315
|
|
October 18, 2020, 10:39:30 AM |
|
If I want to cash out for stability should I use DAI or USDT? What do you people think is safer?. I read tether can be frozen by a central authority but also dai may not be totally secure from what I've heard.
Not cant sure that even both are safe too. But both used pn trading. There is an instances usdt has bwwn freeze up last time. Holding investors fund. For me, the best option is busd stablecoin on binance. It ia not actually that stable but the benefit on holding it on their platform gives you advantage on claiming farming tokens and also earning busd as interest daily on their savings program. recommend choosing USDT it is also supported by FIAT.
Really? Im not sure if its got backed by real fiat but only mention by them.
|
|
|
|
casperBGD
Legendary
Offline
Activity: 2156
Merit: 1151
Nil Satis Nisi Optimum
|
|
October 19, 2020, 08:47:25 AM |
|
Neither are perfect, so you need to think whether you prefer full control over your money or best stability. Personally, honestly probably just hold real USD lol. I'm not really comfortable in holding both stablecoins for long periods of time.
Good point, but one of reason stable coin is created because USD withdraw/deposit took several days while stable coin usually took minutes to hours (depending on required confirmation and block time) Another reason. Stable coins can be staked, lend, put into liquidity mining etc.. That all said, they are in potency to farm the yield. Just holding them for long or even for middle term has no point, here I'm on your side. "Money must work". The easiest way - stake your stable coin if you have it. agree on this one, i would also suggest to have all your coins put to work, not just stablecoins, you can do that on liquidity pools or through exchanges, Binance for example (would suggest direct, because exchange is a middle-man) and earn something on your holdings you would put USD in bank for example, and this is the same, only better
|
|
|
|
Bitcoin-Pro
|
|
October 19, 2020, 09:15:14 AM |
|
If I want to cash out for stability should I use DAI or USDT? What do you people think is safer?. I read tether can be frozen by a central authority but also dai may not be totally secure from what I've heard.
personally, i use USDT.
|
refBitcoin.com - Bitcoin Marketing
|
|
|
republicrypto
Sr. Member
Offline
Activity: 1386
Merit: 252
Keep it Simple guys :)
|
|
October 19, 2020, 10:16:59 AM |
|
If I want to cash out for stability should I use DAI or USDT? What do you people think is safer?. I read tether can be frozen by a central authority but also dai may not be totally secure from what I've heard.
until now i always use USDT my friend, and i have no big issue by using or make any transactions on USDT and now if we sent USDT in TRC20 we don't have to pay the fee by the way i never use DAI, so i don't know about this stable coin regards
|
|
|
|
metenjean
|
|
October 19, 2020, 10:30:59 AM |
|
If I want to cash out for stability should I use DAI or USDT? What do you people think is safer?. I read tether can be frozen by a central authority but also dai may not be totally secure from what I've heard.
I think safer using USDT because stable coin and your assets value keep the same, I check more than one year USDT value not have bigger change for lower or higher price. Better when bitcoin and altcoin have lower price save your money with USDT and buy back bitcoin or altcoin after raise to higher price than your hold assets using DAI or cash money, maybe you get little wrong when you make mistake by saving other currency because have inflation price at the future and keep going down.
|
|
|
|
Novatech8
Member
Offline
Activity: 700
Merit: 27
Sovryn - Brings DeFi to Bitcoin
|
|
October 19, 2020, 11:31:52 AM |
|
If I want to cash out for stability should I use DAI or USDT? What do you people think is safer?. I read tether can be frozen by a central authority but also dai may not be totally secure from what I've heard.
The choice is yours to make, I will give you few reasons why one is better than the other and vice versa but still they re both not bad DAI1. Fully decentralized 2. Not available on many exchanges 3. Trading pair is not on all exchanges 4. Low volume compare to other stable coins USDT1. Fully centralized 2. Available on Ninety nine percentage of exchanges 3. Usdt to other coins trading pair available 4. Well supported 5. Stablecoin with the biggest volume.
|
|
|
|
X-ray
|
|
October 19, 2020, 12:38:55 PM |
|
If I want to cash out for stability should I use DAI or USDT? What do you people think is safer?. I read tether can be frozen by a central authority but also dai may not be totally secure from what I've heard.
I personally will vote for USDT rather than DAI. USDT has a very big daily trade volume, accepted by almost all of exchange sites, it has also supported various assets and you have the more choice to pick which asset that will charge less fees. USDT is the best choice at this moment. Some people said if USDT is not decentralized but it's much more safer. Im always using TRC20 USDT and it charges me almost zero fees to create a transaction.
|
..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
|
|
|
Ryushin
Member
Offline
Activity: 322
Merit: 10
|
|
October 19, 2020, 12:41:37 PM |
|
If I want to cash out for stability should I use DAI or USDT? What do you people think is safer?. I read tether can be frozen by a central authority but also dai may not be totally secure from what I've heard.
I'd go with USDT because of its marginal liquidity on almost all exchanges in crypto world, it's available on Ethereum ,Tron and few other blockchain, well supported IMO but others feel USDT is not save because it's centralized I get, one more thing is if you are into fraud or illegal stuffs your USDT can be freezed
|
|
|
|
bitpotter
|
|
October 19, 2020, 01:22:17 PM |
|
I chose USDT because now I often transact using it from switching wallets and also trading on various exchanges, the value is stable and is also equivalent to US Dollars which is the best reason.
|
|
|
|
crzy
|
|
October 19, 2020, 01:34:44 PM |
|
If I want to cash out for stability should I use DAI or USDT? What do you people think is safer?. I read tether can be frozen by a central authority but also dai may not be totally secure from what I've heard.
The authority will freeze your account if they see a suspicious transactions but if you are doing a normal and legit transaction then no need to worry about. USDT is the most stable above the option, because cryptocurrency is very volatile and DAI is on ETH platform. Know what’s your priority on doing this and know when you can still earn the money without doing any effort, its for you to find out.
|
|
|
|
|