Which stablecoin is best?

[Little Mouse]

I used to use USD tether all the time and still using it for trading purposes and liquidity purpose but recently we have seen a FUD or may be truth that SEC may have issue against them although they clarified that they are running it under registered business etc etc. Is tether risky from that purpose? Even if SEC warrant something like XRP, what will happen to Tether?
What about another alternative stablecoin?

[milewilda]

I used to use USD tether all the time and still using it for trading purposes and liquidity purpose but recently we have seen a FUD or may be truth that SEC may have issue against them although they clarified that they are running it under registered business etc etc. Is tether risky from that purpose? Even if SEC warrant something like XRP, what will happen to Tether?
What about another alternative stablecoin?

Any of them could really be sued out if SEC would have an ample time to make mess with everything they do interest on.This is why when it comes to assurances then its neither a typical project or stable coin would
really be in problems if they do tend to stir it out.
Aside from Tether i havent tried to make use of another stable coins as well but since you do look for alternative then there are various coins which are existing.
(TUSD)
(USDC)
Dai (DAI)
Paxos Standard (PAX)

[NeuroticFish]

I'd guess that GUSD could be properly backed, hence OK-ish.

But all in all, each stable coin is as good and legit as its issuer and you have to trust that issuer.
What crypto taught me in the last years is that best is to trust no one, hence there's no perfect stable coin.

And "best" depends a lot by your use case. If you use Binance a lot, it can be BUSD, for example.
If you just move value from one place to another quick, Tether is just fine, usually, since it's accepted by most (but I wouldn't hold it for hours).

Holding USD* stablecoins is imho useless, for such job there are for example gold-backed stable coins that may do the job better.

Al in all, it depends by your use case. I don't like any of the USD stable coins and especially Tether cannot be trusted (and imho should be delisted by most).

[ryzaadit]

Except USDT would be good.

I believe USDC already enough, just avoided USDT because they are not really backup with fiat maybe just around 65-70% backup by fiat the rest was printed from Bitfinex without backup by fiat.

And, some rumor USDT (Tether) can be freeze.

[Sirait]

I used to use USD tether all the time and still using it for trading purposes and liquidity purpose but recently we have seen a FUD or may be truth that SEC may have issue against them although they clarified that they are running it under registered business etc etc. Is tether risky from that purpose? Even if SEC warrant something like XRP, what will happen to Tether?
What about another alternative stablecoin?

^ You have to be careful with Tether, you can learn about the case that XRP has experienced because the SEC still has complete control over the future of cryptocurrencies in the US. for now USDC, BUSD, and PAX I think are the best.

[cabron]

I use to keep USDT actually but this time that SEC is up to regulate, I guess this is a threat to centralized coins.
Tether could be the next target of SEC and worse is that the timing could happen when there will be bear market and that people who have converted their BTC to USDT will be frozen. There goes your funds worth for your retiring days. I'd be very delighted to just exchange your money with DAI.

[Rabi3]

Except USDT would be good.

I believe USDC already enough, just avoided USDT because they are not really backup with fiat maybe just around 65-70% backup by fiat the rest was printed from Bitfinex without backup by fiat.

And, some rumor USDT (Tether) can be freeze.

it is not just rumors, they can cancel any transaction, which is really scary, and they lied about the backed amount, until Tether’s own lawyer  admitted in court that only 74 per cent backed by cash and cash equivalents.

[blockman]

The Tether FUD is one of the FUD that we have seen that's still going and that's why I'm not getting into it although it is undeniable that it's the most liquid stable coins.

I used to use USD tether all the time and still using it for trading purposes and liquidity purpose but recently we have seen a FUD or may be truth that SEC may have issue against them although they clarified that they are running it under registered business etc etc. Is tether risky from that purpose? Even if SEC warrant something like XRP, what will happen to Tether?
What about another alternative stablecoin?

It will be stopped and could also be delisted in most exchanges. That's the first idea that I can see and the worst is that SEC would be able to frozen all the funds in exchanges that have Tether so no transactions will happen.

[JeromeTash]

And, some rumor USDT (Tether) can be freeze.

Most, if not all centralized stablecoins can be frozen. I think I remember reading somewhere where PAX stablecoin had a backdoor to freeze or seize the asset.
I think I would go with a stablecoin with a more decentralized approach which is DAI, it's governed by MakerDAO

[Gozie51]

I think I would go with a stablecoin with a more decentralized approach which is DAI, it's governed by MakerDAO

This is getting more popular and you are right about it. Dai is getting higher usage and this is because is playing the role of decentralized stable coin. Most user enjoy the Dai project for liquidity.

[Jamesdila1]

USDC endorsed by Gemini, Binance, and Coinbase, I don't really see how things can go wrong with that one!

[Eddyc]

Everyone has the same function and the same balance point and in this case we can consider the most famous Tether UDST. In general, none is better than the other, but fame shows more fluidity in the market. Gemini is also famous and detains a large number of conservative and cautious investors.

Each chooses his own.

[SnookerGenius]

Obiously with XRP going through a lot of bother there has been news circulating.

I saw that with USDT not being 100% backed by Fiat they may be subject to some trouble too.

Even romours of this scare me enough to stay away.

Could anybody clear this up?

[acener]

I wonder why nobody has mention Doge it has been the same for a very long time only small movements even if the market is in chaos.(LOL)
But here is my serious answer I think the best stable coin would be USDT.

[poodle63]

Alternative would be USDC since they are rumoured to partner with VISA if i'm not mistaken and that kind of adding up some legitimacy to their coin and would be a great alternative stablecoin than USDT. also, Binance USD since it comes out from an exchange thats well known and more likely not to run away with dem money or just because of SEC.
However, there's no real safe stablecoin since they are all owned by some private business so always expect to get updated on latest news.

[SquirrelJulietGarden]

Guide: Stable coin economy
Top 10 stable coins in 2020
PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets. Stable coins are risky as most of them are centralized and government, regulator agency can send orders to freeze stable coin in your wallets.

DAI is decentralized and you can consider it if you care about the aforementioned risk and advantages of decentralization.

[yazher]

I used to use USD tether all the time and still using it for trading purposes and liquidity purpose but recently we have seen a FUD or may be truth that SEC may have issue against them although they clarified that they are running it under registered business etc etc. Is tether risky from that purpose? Even if SEC warrant something like XRP, what will happen to Tether?
What about another alternative stablecoin?

I also trusted that stable coins when I can't withdraw some ETH because of the limitations on our local exchanges. I first convert it to USDT to stop the amount from decreasing if something went wrong with the ETH price in the market overnight. last year I don't have any problem with that and it all going smoothly and conveniently when I'm starting to convert it again to be sent to our local exchange. I can't say about it this year since they don't have that kind of problem last year. maybe you guys need to consider looking for another stable coin so that you will not cry when USDT suffers like what XRP does.

[_IRMAN]

I used to use USD tether all the time and still using it for trading purposes and liquidity purpose but recently we have seen a FUD or may be truth that SEC may have issue against them although they clarified that they are running it under registered business etc etc. Is tether risky from that purpose? Even if SEC warrant something like XRP, what will happen to Tether?
What about another alternative stablecoin?

Look for stable coins that are not registered in the US, because all coins that are registered in the US will definitely have the same risk as happened to XRP

[asriloni]

The only possible scenario to happen if US will be forcing tether to acquire the banking license as a requirement to run the stable coin. if you are wanna trying the best stable coin and you can try BUSD or USDC caused by both issued by the famous companies. Both were safe. You could use tether for only to did a short term transactions but my holding was 80% in tether form.
It's caused by it already supported by some chains.

[91254vvpatel]

In my opinion usdt is the best. People have faith in it. TETHER is currently the most TRADE, STABLE COIN. And so I would consider usdt to be the best.