BUSD Vs. USDT

[VanDeinsberg12]

I believe both. But i think busd is more safe. busd is binance stable coin, And as well i trust binance fully. But, USDT is most popular stable coin and you can found that almost all exchange. And also usdt is most popular coin.

Talking about safety, I think both are equal becuase both owned by private companies and even though rumour about the bad things revolving around USDT the company itself still able to prove the reserve that represent their stablecoin and binance is too big to make some scandal.
But I'd prefer busd since I trade in binance and it's just more convenient I guess.

[JohnBitCo]

Is BUSD no much different from USDT?

Which do you prefer?

Yes it is, i personally prefer USDT over BUSD caused by the fees are even cheaper than BUSD when you are using TRON USDT. It has also accepted in all exchange sites
I have some options to send USDT too. The liquidity should also become the main consideration for me to choose USDT over BUSD even BUSD created by binance as the biggest exchange site and im not feeling convenience with BUSD.
Im still choosing USDT over BUSD.

If you are having  lot of dollars you can keep half in USDT and half in BUSD. Also USDC is a good option.

Its always a good option to diversify our USD portfolio also so in case any legal action is taken against USDT again, we would be on the safe side.

[dhemasm]

I have permission to ask in this thread, why is BUSD different from USDT?
and why many are choosing BUSD today than USDT according to what I see.
Is that true?

It's because people realizing BUSD was much better rather than USDT since it was backed on the most biggest crypto exchange and the result partnering with Paxos https://www.paxos.com/busd/, Beside that it was backed by real Asset (FDIC Banks) and of course audited, Even like that i still prefer USDT for now since it was the most used Stable Coin out there but over time i think i will use BUSD, For now i use it as alternative when using binance.

[MCobian]

Actually, almost all stablecoins are the same, because they are not volatile like crypto in general. And all stablecoins prices are based on
the dollar price, this is what makes stablecoins great for avoiding volatile markets. But if I compare BUSD to USDT, I would prefer USDT
apart from having a higher volume. USDT is also listed on most popular exchanges, it makes demand for USDT bigger than BUSD.
This means that more people trust USDT more than BUSD.

[Twinkledoe]

I have permission to ask in this thread, why is BUSD different from USDT?
and why many are choosing BUSD today than USDT according to what I see.
Is that true?

It's because people realizing BUSD was much better rather than USDT since it was backed on the most biggest crypto exchange and the result partnering with Paxos https://www.paxos.com/busd/, Beside that it was backed by real Asset (FDIC Banks) and of course audited, Even like that i still prefer USDT for now since it was the most used Stable Coin out there but over time i think i will use BUSD, For now i use it as alternative when using binance.

You have a point with that, I also prefer BUSD over USDT. At least, we know BUSD is backed by real assets, whereas, in USDT we don't know if they are already 100%backed with USD assets. If they are already saying the truth to the public or not. Because as far as I remember, last 2019, they admitted they were not fully backed - https://www.coindesk.com/tether-lawyer-confirms-stablecoin-74-percent-backed-by-cash-and-equivalents . So what do you think right now, are they giving absolute numbers here? This is the reason why BUSD is gaining interest from stablecoin users, it is backed by reputable exchange and your funds are insured.

[virasisog]

I prefer BUSD than USDT, however, it all depends on each user. I use Binance most of the time and innmost exchange they only have USDT pair on their platform and for the same reason, rest assured that BUSD is backed by real assets. Each has their reason for what stable coin to use, and we can't compare which is better or not. Just use which is more convenient for you or which stable coin you think is more secured.

[rat03gopoh]

This is the latest news https://www.coindesk.com/ny-ags-850m-probe-of-bitfinex-tether-ends-in-an-18-5m-settlement
There it was written that the Tether case was closed. But my concern is about doubt and this claim will open up new problems in the future.

“Bitfinex and Tether recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines. Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”

I tend to prefer BUSD at the moment, but still use tether for trading on exchanges that haven't listed BUSD as the main pair.

[blackened515]

The both serves the same purpose for stabling coin, BUSD is owned by Binance and it's their native stable coin created to be used in their exchange, most of the crypto coins are paired against BUSD but the majority are paired with USDT because it's the first stable coin created so far. BUSD is traded only on Binance and some other Binance based exchange like wazirx if I recall correctly.

[sana54210]

Is BUSD no much different from USDT?

Which do you prefer?

BUSD is definitely better than USDT is doing because at the same time we are in a situation where USDT is getting checked and so forth and they are not doing anything that would help them, SEC investigating them I think, or was it NY AG I do not know because it really wasn't the important part because at the end of the day we are in a situation where USDT is getting searched by law enforcement and they are really getting in big trouble over it as well, they had to pay 18+ million dollars in fine as well and they really didn't do anyone any justice by not backing it 1 to 1 neither because that is all they were known for as well and that is one of the main reasons why people didn't like USDT was the fact that bitfinex wasn't loved.

I prefer BUSD because that is at least backed by Binance and they are a great company as well even though they are owned and centralized it is still by a great company.

[Fredomago]

The both serves the same purpose for stabling coin, BUSD is owned by Binance and it's their native stable coin created to be used in their exchange, most of the crypto coins are paired against BUSD but the majority are paired with USDT because it's the first stable coin created so far. BUSD is traded only on Binance and some other Binance based exchange like wazirx if I recall correctly.

Personal option to any traders and investors as they both serve the same purpose, it's been use for diverting your assets in case some corrections is happening, just like what we are experiencing right now.

It's best to convert your crypto to any stable coin that you are trusting to prevent further damage to your invested money.

Choosing between this two, most likely those who are using binance exchange will prefer to use this when diverting, trusting the exchange and how they'll handle their clients is considered as their insurance.

[nykka]

I get used to use USDT, because it appeared earlier and when TRC-20 version came, it became the most comfortable asset for me. I use BUSD sometimes, but I don`t see a huge difference between them. Situation with Tether have been solved, so I`m not afraid so much about USDT fate. Binance`s stable coin will be very strong too, imho, but I still prefer USDT

[lozovenkop]

Basically, I use busd more, although these two stablecoins are centralized, but I trust more busd, especially since usdt had problems with the sec....

[btc-facebook]

Both are good, BUSD and USDT have high liquidity, but for their use of course it depends on each user,
BUSD is suitable for use on Binance, and of course Binance will fully support BUSD because BUSD is a stablecoin that Binance launched, but if USDT is more suitable when used on other exchanges, because almost all exchanges provide USDT pairs. The fee is not a problem because USDT is also available on the TRON network.

[cryptoaddictchie]

My stablecoin that I prefer is Busd. Although usdt is mostly used on majority of exchange and even decentralized market, CZ knows how to keep their asset safe and secure. We all knew the risk of tether that has brought before through security and soemthing like that isnt healthy. I know busd is centralized but I like how it's management handle it well.

[Sendi blackspade team]

My stablecoin that I prefer is Busd. Although usdt is mostly used on majority of exchange and even decentralized market, CZ knows how to keep their asset safe and secure. We all knew the risk of tether that has brought before through security and soemthing like that isnt healthy. I know busd is centralized but I like how it's management handle it well.

yes, BUSD is no less popular now. Even now I think many members who are accustomed to using USDT have moved to BUSD. especially those who trade on the Binance exchange. not to mention that there are problems with transfer fees from USDT ethereum.
I myself have switched to BUSD.

[danherbias07]

If you are using Binance more with trading then better just use BUSD.
Now, when you keep on jumping from one exchange to another then use USDT.

I prefer BUSD. The simple explanation is because I don't use any exchange anymore rather than Binance.
Every coin I support is listed there. The only reason I use other exchange before is because of the scattered listing of the coins I must trade.
Trust issues is not a question with Binance anymore.

[bitcon]

I don't see much difference between BUSD and TUSD. Now everyone hastened to switch to stable coins from Binance due to the fact that Binance products are on the wave of popularity. All stable coins are centralized in this specificity. Both the BUSD and TUSD coins are backed by the US dollar.

Stablecoins are a good tool for saving assets during periods of particularly high market volatility. BUSD has every chance to take the first place in the niche of secured cryptoassets and become one of the leaders in the decentralized economy.

[ingiltere]

Is BUSD no much different from USDT?

Which do you prefer?

They are almost same. Only the issuer is different. I use both, I also use other stablecoins too. I used DAI, VAI, USDC etc. I never had any problem. It's based on where you use that coin. There is no preference, you should adapt your money to the network you want to use.
I don't like fiat money at all and use stablecoins only if needed. Otherwise I wouldn't hold them for long term.

[Traderbtcc]

BUSD and USDT are both stablecoins and they are centralized currencies, although I prefer using usdt cause its listed in so many exchanges, unlike the BUSD which is listed on Binance exchange alone, though we might see exchanges listing it in the future, I don't know if they plan to list on other exchanges, but listing on their exchange alone won't get BUSD the popularity it will need to succeed in the market, let's watch and see what the future holds for BUSD.

[tvplus006]

true, although not so different, BUSD is more convincing than USDT...
who doesn't know the developer behind BUSD, its reputation is very good and liquidity is guaranteed. because I am actively trading on Binance, I prefer BUSD.

For traders who trade on the Binance, BUSD is really preferable, since it will allow you to place free funds to generate passive income on the exchange. In addition, this stablecoin is used in the BSC network to provide liquidity and has zero commission in the BSC network. But with all the positive aspects of using BUSD, you need to remember that the liquidity of this stablecoin is much less than that of USDT.