How to store 1 Million $ to Stable coin

[alexey14]

Have a plan to sell some of my crypto, Now I can store with USDT, USDC, DAI, BUT There are serious question:
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
 

[Yogee]

...DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?

DAI is your best option if you're are too worried about the centralization of other stable coins. I don't think there are better options to be honest. Maybe you should read more about CDP and MakerDAO so you have a better understanding on DAI's sustainability.

Almost each new chain have their own version of stable coin so another option is to explore them.

[tvplus006]

...DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?

DAI is your best option if you're are too worried about the centralization of other stable coins. I don't think there are better options to be honest. Maybe you should read more about CDP and MakerDAO so you have a better understanding on DAI's sustainability.

Almost each new chain have their own version of stable coin so another option is to explore them.

Yes, indeed, the best way to keep your deposit in a stable coin is to use the decentralized DAI stablecoin. Unlike centralized stablecoins, a decentralized stablecoin is regulated only by a smart contract and does not depend on its issuer, as happens with centralized stablecoins.

[JooBra]

If I had that kind of money in crypto I would stake it. Like cardano stacking is good option. 5% yearly is good money when you have 1mil.

[mr500]

Have a plan to sell some of my crypto, Now I can store with USDT, USDC, DAI, BUT There are serious question:
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
 

Honestly $1 million is huge amount of money So any wrong decision can give a big bull loss on the other side the right decision can give a rocket profit which will take your position one step further so you should invest the whole money to BTC .

[devil2man]

the risk, even if minimal, there is always usdt and the most widespread certainly if the sec were to give a negative opinion on a stablecoin this would almost immediately lose value, the best choice at least in my opinion is to limit the risks, diversify buying a third of the capital of each usdt, dai, usdc

[DarkDays]

...DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?

DAI is your best option if you're are too worried about the centralization of other stable coins. I don't think there are better options to be honest. Maybe you should read more about CDP and MakerDAO so you have a better understanding on DAI's sustainability.

OP you raised an important and interesting question. USDT/C are both centralized and so there are issues with them both, however if SEC was to ban the use of these stable coins the whole crypto market will get hit hard since most pairs are tied to USDT. This will cause trouble with no matter what stable or crypto asset you hold.

As for options other than USDT/C, DAI is also an alternative but again comes with its own volatility. There are also other options which you'll need to look into but the others worth looking at are BUSD, and UST.

[livingfree]

DAI is decentralized so among them all, it's the best option if you want to keep that $1M. But if you don't trust most of the stable coins then you just better be cashing it out.

You hold the cash and you're not going to have any problems if it's going to lose value because it's very normal that its value goes down through inflation.

[poodle63]

If you're feeling the stable coin issuer can block your coin anytime and as some people said above if DAI would become the best choice. As long as the stable coin was fully audited and that's fine. YOu can also try to think about BUSD as this stable coin backed by the real company with real revenue. It's totally backed by the dollar. I think that as long as the stable coin was still backed by the dollar and it will not lose its value one day.
The risk will always there but if you didn't wanna use the stable coin and then just cashing it out. There's no reason to keep it in altcoins as it will be very volatile at this moment. USDT already accused so many times and nothing happen. that's the risk and if you didn't wanna deal with it and just store it into the bitcoin or ethereum but you may face up and down trend anytime. This will be affecting value of your money.

[Alf_m.h]

Have a plan to sell some of my crypto, Now I can store with USDT, USDC, DAI, BUT There are serious question:
Both USDT and USDC can blacklist any address without any reason, So I dont think this is safe way to store 1 Million $ on them.
USDT is big nowdays So what If SEC Sue USDT? in that case maybe USDT lose Value.
DAI, I think DAI is not safe Can lose value 1 day.
So what is your suggestion?
.
 

stable coins follow the dollar price in fact, they are created not to deviate from that price if it shifts not very far with a benchmark such as the dollar price, if the value of the shift in your number feels at a loss, you should withdraw it or play fast "trading".

[wtsimis]

1 million is a big amount. So, don't put your all eggs in one basket. If it loose your whole money will lose. You can use busd as a good investment in a stable coin. And if usdt get banned. It will harm the whole crypto industry, on the other hand, much negative news comes against Tether. So, try alternative coins like DAI, PAX, or us. Remember to try to store in different safe accounts.

[hugeblack]

DAI using ETH or Polygon is your best option, you can find it in many exchanges which have a good liquidity to exchange 1M within month + low fees.
USDC is better than USDT but USDT have better volumes in many exchanges.
other stablecoins are good and you can withdrawal USDT in other exchanges as TORN, Polygon, EOS,...etc.

about blacklist is your activity not involve scamming, laundry, drug trafficking or illegal transparent activities of the continents you will be safe.

[cryptoaddictchie]

Choose DAI dude. I even picked or stored most of my stable coins on DAI and BUSD, yes its binance stablecoin, but this is way more better than USDT and USDC since the owner understand the complexity of the crypto thats why they surely understand us.

Stablecoins are also good and conservative investment than most alts cause we can maximize a profit than bank money without having a huge risk.

[TastyChillySauce00]

Man, hear me. if you have no trust to the DAI stable coin and is that make sense to store your assets into the stable coins? As far as i know if all of stable coins are the same. They were using the same mechanism but the only thing that makes it different should be on how much reserved fund that used to backed it and the code. The stable coin other than DAI has backdoor that created by its developers to prevent the criminal act like hacking. So many people are feeling worried about this feature in the past but if you are not doing something like hacked or something else and why should you feel worry to store your asset into the stable cois?

there are lots of people with multi million dollars are still using tether, or even USDC that was getting subpoenas by SEC. If you can't trust it and why are you interesting to use it? If you feeling worry about this and just spread your stable coin into the so many parts. I have been using USDT since a few years ago and im still safe right now.

[Reid]

USDT and USDC won't be banned just yet and you don't want to keep your money on that kind of cryptocurrency.
Your best option would be in Bitcoin if you just want to keep it, but if you are really looking for a stable coin, you really have a big problem.
It's not really the ban or the value that you should be worried about. It's the question of how did you get such an amount.
There could be a possibility for them to pause your account until you submit some documentation because these companies will still comply with the anti-money laundering law.

[DeathAngel]

If I had that kind of money in crypto I would stake it. Like cardano stacking is good option. 5% yearly is good money when you have 1mil.

Yeah that’s not a good idea, you are effectively handing over control of your crypto for a supposedly promised 5% per year? What happens if the entity controlling your crypto gets hacked or goes bust? I prefer to control my own private keys thanks.

To stay on topic, it’s fine to convert to stablecoin short term but due to regulations especially in the US, I wouldn’t recommend it. USDT is being chased down by the FED.

[blockman]

1 million is a big amount. So, don't put your all eggs in one basket. If it loose your whole money will lose. You can use busd as a good investment in a stable coin. And if usdt get banned. It will harm the whole crypto industry, on the other hand, much negative news comes against Tether. So, try alternative coins like DAI, PAX, or us.

I would also do the same but among the stable coins except for DAI and PAX. I'll divide it including BUSD, I won't choose USDT and USDC. I have that feeling of confidence more with BUSD but that could just be me and the others who are feeling good with it.

Remember to try to store in different safe accounts.

Yeah, it could be $333,000  for DAI, BUSD, and PAX. That would be my pick if there's no other option to keep that money as OP is problematic about. Well, I want to congratulate OP for having a good problem and being a millionaire in $.

[vermigerous]

DAI could only be an alternative if it's a decentralized DAI, and for me, the best idea to store 1 million usd is by storing it as USDT since it is stable and it's safer as it's grow bigger now. Also it is recommended to store it by BUSD since it also further develop nowadays. But it's only a suggestion and my own opinion, maybe there are some better ideas.

[RokokGudangGaram]

I'm not an expert to stable coins but I think so far they are safe since they were backed up by an asset but for me if I have a $1M I think I should buy a cryptocurrency that is backed up by real gold since the gold always have a value and it's the most know asset in the world. I don't see the difference of DAI, BUSD, USDT or other stable coins they seems safe to me.

[ryzaadit]

-snip-

Read the explanation from @OP then you know the reason why he was worried with stable coin like USDC or USDT.

Your fund can be frozen by them, so you cannot spend your fund after being frozen. Another rumor "USDT" is not actually 100% fully backup by asset maybe only around 60-70% for the backup. So is kinda worried to hold them, If SEC find suspicious activity on USDT.