Which stablecoin do you trust the most?

[posi]

Hey guys,
I plan on selling some of my altcoins in the near future. Instead of converting it to fiat, I will rather convert it to BTC and stablecoins. I hear a lot of concerns regarding USDT, which is why I want to ask you guys what stablecoin you prefer to hold?

Thanks in advance.

I personally don't like USDT because if they once lied then (which I believe they are still doing the something) nothing stop them from doing the something but everything depends on your place because most centralized stable coin is backed with fiat and if you're with that you can choose USDC or BUSD while decentralized stablecoin are goo for a long time holding they are usually backed with precious metal.
If you are planning to use a decentralized precious metal back stable coin stay away from this kind of stablecoin.

even if it is centralized and it is not completely backed i (as well as many exchanges) i continue to prefer usdt even dai it is not bad i would say that they are the same,equal but on a personal level i prefer usdt not that it has anything more

If you are aware of the previous allegations and scam activities are done by the USDT team you won't have seen it as the perfect stable coin to choose. But, I still don't get the reason why people still love this coin.

[FireBallex]

Let's all look at the risk side, if decentralized stable coin vanished today that's the end, there is no clue where to find the scammers since it's decentralized, this makes me thinks that decentralized projects are even more shady and dangerous, USDT was once accused of many things in the past but that's because they are centralized, making them and things around them more transparency

[target]

Traders are already anticipating that tether can be frozen inside your wallet and with regulations today, it's likely will happen when governments want to collect tax from the profits of the traders.

If you are going to move it out of the exchange and going to the Eth wallet for a long-term hold, just use DAI its safer that way. And I hope it really is as what others are telling because its decentralized.

[southerngentuk]

I quite trust DAI, USDC and they are also stable coins that I reward to use every time I liquidate all of my cryptocurrencies. Usdt used to be the top choice that I came to think of, but maybe because it had a lot of problems that were not clear and this made me choose other stablecoins that I felt safe, in this space always that we will have many choices instead of just one.

[adzino]

Hey guys,
I plan on selling some of my altcoins in the near future. Instead of converting it to fiat, I will rather convert it to BTC and stablecoins. I hear a lot of concerns regarding USDT, which is why I want to ask you guys what stablecoin you prefer to hold?

Thanks in advance.

It is totally okay to be concerned about USDT. I have heard your coins can get frozen anytime. So it is a risk not worth taking. Try some other stable coins that is "truly" decentralized. Maybe try one of those decentralized coins like TUSD or DAI (Do your own research. I don't know much about them and did no research. I have only heard that they are "good". You should trust your OWN opinion).
Why would you want to hold a stable coin though?

[iv4n]

Let's all look at the risk side, if decentralized stable coin vanished today that's the end, there is no clue where to find the scammers since it's decentralized, this makes me thinks that decentralized projects are even more shady and dangerous, USDT was once accused of many things in the past but that's because they are centralized, making them and things around them more transparency

One of the rare comments in this topic that shows the other side of story! I like when people are aware of all facts before making any decision, not just about "good facts"!
I like USDT more than other stable coins, just because I got used to it... I was thinking many times to change that, but for now I didn't make that step! Simply I use USDT for quick getting in/out from the trades, and I never hold it for too long!

[silverston]

Hey guys,
I plan on selling some of my altcoins in the near future. Instead of converting it to fiat, I will rather convert it to BTC and stablecoins. I hear a lot of concerns regarding USDT, which is why I want to ask you guys what stablecoin you prefer to hold?

Thanks in advance.

In general, I do not really like stablecoins, but if I choose, then I'm for Tether. Today I had to buy a USDC to participate in the Razor auction, but I'm still not sure if I will participate - the pricing is not clear there, the auction continues. And the USDC will remain lying, maybe I will throw it back to the exchange.

[zeroknowledgeproofs]

I would not keep any significant amount of money in USDT. They have been known to freeze accounts without explanation. People have lost millions for using USDT. This coin should be shunned in the community now IMO. DAI is the best option we have at the moment, other than DAI I would recommend HBD (HIVE BACKED DOLLAR) to use HBD you must have a HIVE account on HIVE.BLOG or sign up on hiveonboard.com


source:

https://cryptobriefing.com/tether-can-freeze-destroy-your-usdt/

https://www.coindesk.com/tether-froze-300k-of-stablecoin-hacked-after-victims-left-wallet-keys-in-evernote

https://news.bitcoin.com/tether-freezes-millions-of-dollars-usdt-40-addresses/

[Wahyuihib]

For now, I am still using USDT in converting my altcoins to fiat currency. I have done this transaction several times and I have never had a problem, both in terms of cost or speed.

[Xxmodded]

Hey guys,
I plan on selling some of my altcoins in the near future. Instead of converting it to fiat, I will rather convert it to BTC and stablecoins. I hear a lot of concerns regarding USDT, which is why I want to ask you guys what stablecoin you prefer to hold?

Thanks in advance.

People use USDT because the rest of the stablecoins are not significantly different from them. USDT has been on the market for a long time and has already established itself as a more or less reliable asset. People trust Tether despite all the scandals and gossip because they don't see a good alternative.

Almost people use USDT as stable coin right now without any risk if hold on USDT coin as assets investment, but just many trader only take moment with USDT when bitcoin or altcoin down, they waiting during bitcoin or altcoin down save money on USDT coin. After bitcoin and altcoin have good moment to buy they will move assets from USDT to be altcoin or depend which coin have to buy. Every trader use USDT as saving assets because have stable price maybe change under 0.5% every time and good to keep assets value.

[joseyphil82]

I trust centralized stable coins more because the centralized part is what makes every sense here, stablecoins are to be pegged with real USD right? USD is centralized as we all know it and the most near identical USD in digital form on the blockchain must be centralized, don't take this personal, it's just how is see things

[joseyphil82]

If a project is here to peg USD 1:1 then why the need for decentralization? There is nothing to hide here and centralized stable coins can't run their business without proper documentation, they can't hide anything and every eye will be on them, it's no surprise that top platforms trust USDT more

[Ceyflix-Rez]

I trust USDT and USDC because I can clearly see and read about the projects online, been centralized makes them more transparent to me, it's normal to doubt ,that that's what makes everything looks good, SEC was once on USDT but that don't works out in the end, Binance and other top Exchanges

[Princejebs]

Hey guys,
I plan on selling some of my altcoins in the near future. Instead of converting it to fiat, I will rather convert it to BTC and stablecoins. I hear a lot of concerns regarding USDT, which is why I want to ask you guys what stablecoin you prefer to hold?

Thanks in advance.

I don't trust any when it comes to cryptocurrency, they are centralized which means, anything is possible and there is like chance of seizing one asset. There was news yesterday how tether froze an illegal fund which was trace to be USDT exploited from yearn finance vault.
If that was to be bitcoin, it can be seize. It's not as if I am in support of fraud, I just detest anything that has to do with centralization but since tether is mostly used in all exchange, I used that the most but don't hold them for long term.

[SwiftLikeAWind]

As of now, even though USDT had its fair share of blunders, Tether is still the most flexible ALT in the market and is the one go to from exchanges both DEX and CEX. I always use it with my BTC day trading.

[Review Master]

I will rather convert it to BTC and stablecoins. I hear a lot of concerns regarding USDT, which is why I want to ask you guys what stablecoin you prefer to hold?

Converting the profit of alts into Bitcoin is the best option , IMHO. Also, there was a issue between Bitfinex and Tether which is now solved as bitfinex repay the loans which is taken from Tether. But DAI would be a great choice if anyone want to convert alts into stablecoin.

[freedomgo]

I'll go for UST because of its liquidity but if you have some concern that it might be possibly frozen, then you can diversify it with DAI.
Make a choice or choose both, but I believe as long as you are not violating any regulatory requirement, you wouldn't face a problem, good luck.

[crwth]

There could be multiple things to consider when talking about conversion to stable coins. The best stable coin that I have found that seems to be worth it is USDC. All the regulations and stuff about it are really 1:1 unlike USDT. If we are talking about who has the most users and applications everywhere and anywhere in the market, it's USDT. Most of the markets have it and most people are trading with that as their base currency.

I think it's not just because you trust it but because of the more opportunities, it gives you to trade in the market. Most of us have no say with what we think about this coins but just use it because it's more practical.

[distr@yopmail.com]

As of now, even though USDT had its fair share of blunders, Tether is still the most flexible ALT in the market and is the one go to from exchanges both DEX and CEX. I always use it with my BTC day trading.

True, USDT is still in a good category to use as well as in terms of other transactions as well, because there are so many platforms that support USDT at the moment, so it can really help its users.

no one doubts USDT. I think traders and investors have experienced how this stable asset really helps how they profit. I am the one who always uses it.

[reza7777]

In my opinion the best stablecoin to date is USDT and see even though there is a lot of FUD but everyone still uses it, but if you still have concerns you can use USDC or DAI as another option