USDT versus DAI token

How do i know what is the difference in USDT and DAI token, and which one should I use?

Top 10 Stablecoins of 2020

Be cautious and beware of risk when you use stablecoin to store your money. PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets

Volume of USDT is much higher than volume of DAI and USDT is more commonly listed on crypto exchanges. To decentralize risks, you should use some stable coins to store your money (if you want to store them by stable coins).

USDT is more stable but your coins can be frozen(thanks to tranthidung for the link). DAI/SAI however, though not decentralized, can't be frozen as far as I know, but is not as stable as it should be as a stablecoin. Not to mention that some potential fuck-ups can happen on that project.

My tip: if you want to hold USD, either risk it with DAI, or just use your bank account.

Quote from: mk4 on November 30, 2020, 02:41:35 PM

I did not include DAI in my past analysis but please look at stability of some stable coins. USDT is the most or among the most stable in available stable coins.

Bitcoin pumps/ dumps and altcoin price actions (2013 - 2020). Click to see details. The visual plot is given to attract and direct you to that thread. Cheesy

Quote from: tranthidung on November 30, 2020, 02:58:20 PM

USDT is the most or among the most stable in available stable coins.

Sure is. Also the stablecoin with the highest liquidity. ..aaand.. pretty much also the shadiest stablecoin as far as I know. I don't like trusting either parties(hence why we Bitcoin), but if you'd force to make me choose, I'd probably trust Coinbase's USDC significantly more.

Quote from: SmallCapCoins on November 30, 2020, 02:10:27 PM

How do i know what is the difference in USDT and DAI token, and which one should I use?

Definitely the difference only of these are the liquidity and owners. But purpose are both the same. If you are a trader then mostly used usdt for trading and most common on every centralized exchange.

If you are into decentralized DAI has been famous and been used on many farming tokens as either collateral or main stablecoin for gaining profits.

But other than that. Pros and cons varied with these two.

People look at stablecoins as something bitcoin-like, but in fact most stablecoins are practically like tokenized PayPal. Remember people, not because it's a token it doesn't automatically mean it's unseizable.

All stable coin only coins to stop the exchange rate and achieve profits without waiting for real conversion as a bank balance.
they are similar to fiat, meaning there is no guarantee in them except for those who issue them, so be careful about choosing currencies that are issued from unknown or low-liquid entities that make their stability an Impossible.

If stability is not decentralized, then it is better not to stay away from USDT.

Quote from: SmallCapCoins on November 30, 2020, 02:10:27 PM

How do i know what is the difference in USDT and DAI token, and which one should I use?

Here are few things I know about USDT and DAI

1. USDT is centralized stablecoin, DAI is fully decentralized
2. Centralized platforms or projects can be controlled by the team or the law (government)
3. USDT team can freeze your account only if your money isn't from a clean sources (illegal funds, hacks, stealing etc)
4. DAI is more safer since it's decentralized but less popular than USDT
5. USDT is more supported than DAI and it's the top stable coin over every other stable coins

Quote from: tranthidung on November 30, 2020, 02:26:03 PM

DAI cannot be frozen. That's the main benefit of DAI over all the other major stable coins.

Honestly USDT is more stable than other stable coins but USDT is from centralized platform, funds can be freezed but I have no probably using the stable coin for this reason, if the way you earn your money or assets isn't clean then you need to stay away from USDT, DAI is the best place to avoid any asset freezings, DAI is fully decentralized but less popular, lower volume compared to USDT