What'sa good alternative for USDT? (Searching for good stablecoins)

[dissi_xD]

Hi,

after that Dogepump i have converted my DOGE to USDT, so i can buy more BTC when it dumps. But now i have heard negative things about USDT. What is a good alternative stablecoin for next time? There are so many and i don't know the difference of them (besides the name^^). Can someone guide me a little?

[mk4]

Because of Tether's past shadiness, I tend to not hold it for longer periods of time. Pretty much only temporarily when making short-term trades.

As for other stablecoins though, even though I don't like holding stablecoins because this[1], I'd probably be more comfortable with USDC just because the company backing it is ever-so-slightly more reputable.

Also, if you want a slightly similar discussion: https://bitcointalk.org/index.php?topic=5337089.0

[1] PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets: https://bitcointalk.org/index.php?topic=5204055

[dissi_xD]

[1] PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets: https://bitcointalk.org/index.php?topic=5204055

Thank you very much for this article, i didn't know they can freeze your coins.

What do you think for how long to hold it at maximum?
Because my goal is to get as much free cryptocurrency as possible and made all my Doges are from Faucets^^ and with the UDST now i want to stock up on my BTC. So i hope for a huuuuuuge drop of BTC, that i can get more, because the amount of USDT isn't that big like thousands of dollars. So should i buy in the next days or can i hold it a bit longer?

[BitMaxz]

If you are looking for more stable coins check the links below.

- https://www.coingecko.com/en/categories/stablecoins
- https://coinmarketcap.com/view/stablecoin/

Only choose near $1 price because other coins are mistakenly listed there

Thank you very much for this article, i didn't know they can freeze your coins.

What do you think for how long to hold it at maximum?
Because my goal is to get as much free cryptocurrency as possible and made all my Doges are from Faucets^^ and with the UDST now i want to stock up on my BTC. So i hope for a huuuuuuge drop of BTC, that i can get more, because the amount of USDT isn't that big like thousands of dollars. So should i buy in the next days or can i hold it a bit longer?

For me, it would be better to split them I'm sure there is no perfect stable coin everything possible to any stable coin.

I have my own choices I split them into 3 USDT, BUSD, and DAi. About how long then you can hold them as long as you want but since you are waiting for the low price of BTC for a long investment then it would better to hold them first for years because the price of BTC is not yet on the deep price.

[Insanerman]

Hi,

after that Dogepump i have converted my DOGE to USDT, so i can buy more BTC when it dumps. But now i have heard negative things about USDT. What is a good alternative stablecoin for next time? There are so many and i don't know the difference of them (besides the name^^). Can someone guide me a little?

I would prefer and suggest to you that you should consider using BUSD. Why? Transferring it doesn't take too long and its fees are really cheap, IF AND ONLY IF you use Binance as your trading platform and/or the BSC network on your alt trades. AFAIK some exchangers that supports BUSD doesn't really have a pair of BUSD to other alts like DOGE and alts that you might consider buying. Lastly, BUSD can be used in pancakeswap and other BSC AMM platforms which is currently the trend as some projects like SafeMoon started in it so you might consider trying those tradings as well.

[JeromeTash]

1. USDC if you don't mind a centralized form of stable coin. It's also backed legally backed by reserved assets and the institution behind it is regulated. It's also much more widespread and has a bigger volume across different exchanges unlike BUSD. If anything happened to Binance, BUSD could also get affected.

2. DAI if you prefer a stable coin with a more decentralized approach.

[Oshosondy]

The common cryptocurrencies that are stable and pegged with United States dollars are:

• USDT
• USDC
• BUSD
• TUSD
• DAI
• and many others

It is true that DAI is more decentralized and better, there are cases I have read before that USDT and USDC were freezed even when the person that has the coin that was freezed used noncustodial wallet.

[bitmover]

Hi,

after that Dogepump i have converted my DOGE to USDT, so i can buy more BTC when it dumps. But now i have heard negative things about USDT. What is a good alternative stablecoin for next time? There are so many and i don't know the difference of them (besides the name^^). Can someone guide me a little?

I would make a mix of usdc (coinbase),  busd (binance) and usdt( tether )
Tether has just proved their reserves, which is quite good.
https://www.coindesk.com/tether-first-reserve-composition-report-usdt

But even with their reserves backing up their coins, it still has some risks as mentioned above by mk4

[mk4]

Thank you very much for this article, i didn't know they can freeze your coins.

What do you think for how long to hold it at maximum?
Because my goal is to get as much free cryptocurrency as possible and made all my Doges are from Faucets^^ and with the UDST now i want to stock up on my BTC. So i hope for a huuuuuuge drop of BTC, that i can get more, because the amount of USDT isn't that big like thousands of dollars. So should i buy in the next days or can i hold it a bit longer?

It's completely up to you. Personally, I just hold stablecoins for a week at maximum; but also taking note that I'm extra paranoid with my funds. Chances are, probably nothing bad will happen concerning stablecoins in the near-mid term, but I'm not risking it.

[hd49728]

I would make a mix of usdc (coinbase),  busd (binance) and usdt( tether )
Tether has just proved their reserves, which is quite good.
https://www.coindesk.com/tether-first-reserve-composition-report-usdt

But even with their reserves backing up their coins, it still has some risks as mentioned above by mk4

To reduce risks, decentralization your capital into different stable coins is very good. With each stable coin, decentralize the allocation for it to different wallets. Lastly I am decentralizing my wallet storage and backup in a few devices and locations.

I don't know what will happen with my devices, my house, my wallet & backups, those stable coin companies so let's keep my capital decentralization as said.

[slackovic]

My vote goes to USDC. I know it's centralized and that it can be frozen, but in my opinion it's by far more regulated and audited than Tether (USDT). For me Tether is only good for trading because it's pairs have much more volume. But when I "cash out" my crypto, it will be to USDC.

[akirasendo17]

you should try busd since its a BSc network the transfer of funds is fast at the same time it's cheap, imagine if you transfer using erc20 the fee is so high, on Tron it's fast but they already up the fee while on the other hand BSC bep20 transfer fast at the same time it's cheaper, give it a try, for a change.

[mk4]

you should try busd since its a BSc network the transfer of funds is fast at the same time it's cheap, imagine if you transfer using erc20 the fee is so high, on Tron it's fast but they already up the fee while on the other hand BSC bep20 transfer fast at the same time it's cheaper, give it a try, for a change.

While BUSD has better trading volume compared to USDC, not sure if I would use a stablecoin of a company(Binance) that's pretty much always been in the gray area in terms of regulations. For transacting and spending, sure if I had the option to, and I'd quickly get out of it asap. But for holding a bit? Probably not.

[JeromeTash]

you should try busd since its a BSc network the transfer of funds is fast at the same time it's cheap, imagine if you transfer using erc20 the fee is so high, on Tron it's fast but they already up the fee while on the other hand BSC bep20 transfer fast at the same time it's cheaper, give it a try, for a change.

Would you sacrifice your assets just because of transaction fees over security?

We all know that USDC is issued by a regulated company and has also been audited in the past something that's not clear with the likes of BUSD and USDT.
Secondly USDC can be used in so many exchanges but BUSD appears only in Gate.io and Binance if memory serves me right. Imagine if Binance got shut down, where would you take your BUSD to?

[mk4]

Secondly USDC can be used in so many exchanges but BUSD appears only in Gate.io and Binance if memory serves me right. Imagine if Binance got shut down, where would you take your BUSD to?

It's on Poloniex and on India's WazirX as well; though liquidity on these exchanges are like shitcoin-levels low. And when I say shitcoin-levels low, I mean page 2 on Coinmarketcap low. Definitely not something you'd be confident in holding.

[covfefe_]

If the OP just want to store the value to exchange it to some other coins later, audited coins from circle (USDC) or paxos (Paxos USD) would be better option as they are safer options and accepted by many mainstream business. It's not that other coins are unsafe but these two options provides more peace of mind. DAI is also a good decentralized stablecoin but I would not venture Dapps with large amount of money specially when I don't need to hide it.

[Woodie]

Tether has been my first stablecoin but because of the shady ways it's found its self on the market and all the dishonesty surrounding the coin I tend not to be so much invested in stablecoins, though my best is tron based usdt.

Other alternative erc20 Stablecoins have not been attractive because of high ethereum transaction fees but will look into this once again.

[KaliLinux]

Hi,

after that Dogepump i have converted my DOGE to USDT, so i can buy more BTC when it dumps. But now i have heard negative things about USDT. What is a good alternative stablecoin for next time? There are so many and i don't know the difference of them (besides the name^^). Can someone guide me a little?

The thing is for me since Binance which I trade in the most have my own local currency listed in the exchange, I use that the most if I want to sell off my crypto assets into a more stable coin and if you have the same option with the exchange you trade-in I believe this is a good alternative but this doesn't mean I still don't use USDT, BUSD or anyone that is available in the exchange I am trading in at that time.