Which one is best and safest STABLE coin?

[btcwish1]

Hi Friends,

as you are aware there are several stable coins such as USDT, USDC, BUSD, DAI  and so on.   Among them, I know that Tether-USDT can be frozen. Source: https://www.dcforecasts.com/tether-news/tether-is-now-able-to-freeze-and-destroy-your-usdt-coins-report/

In my opinion there is really no difference between bank and USDT if they can freeze coins. So, I am just wondering, if you have any preferred stable coins which is safe and can't be frozen etc.

I wish to convert some of the coins to stable coins for next bull run.  So, your suggestions will be very much appreciated 

[1715106741]

1715106741

[1715106741]

1715106741

[1715106741]

1715106741

[dothebeats]

I don't really have any preference when it comes to stablecoins. They're all the same to me. Though I try to avoid USDT like the plague as there have been a lot of horror stories with them lately, causing problems to traders that takes weeks or months to resolve.

USDC was good for a while, and is also good for small transfers from exchange A to exchange B, but it is recommended that you immediately exchange it to some other tokens and not keep it as it is as it's still a stablecoin wherein they can do what they want. No reports of USDC being frozen or anything, but just to be safe.

[btcwish1]

I don't really have any preference when it comes to stable coins. They're all the same to me. Though I try to avoid USDT like the plague as there have been a lot of horror stories with them lately, causing problems to traders that takes weeks or months to resolve.

USDC was good for a while, and is also good for small transfers from exchange A to exchange B, but it is recommended that you immediately exchange it to some other tokens and not keep it as it is as it's still a stable coin wherein they can do what they want. No reports of USDC being frozen or anything, but just to be safe.

Thanks for replying.  If it is advised to immediately exchange stable coins to another coin/token then what is the point of converting it to stable coin in the first place anyway???

The only reason to convert a coin such as ETH or BTC  to a 'stable coin' is to take profit and hold it for bear market and buy back the original coin. If it is not safe to convert it to stable coin then how can you take profit in the bull run?? 

Cheers

[livingfree]

The idea of USDT freezing those funds that came from hacks can't be removed to everyone that it can also freeze funds of anyone at their will.

DAI is decentralized and it may not be the safest in the opinion of others but it is decentralized.

[QueenVera]

DAI has to be the safest among all you listed above, Usdt is centralized and asset can be frozen and I do not think it is any different firm USDC. BUSD is owned and controlled by Binance exchange and things there are not decentralized either. Which leave us with just DAI and so far it has not been found shady. The only disadvantage DAI could have is that, you might not be able to sell that easily since it is not very popular and due to low trading volume, price could be volatile.

While you are converting your coins, do well not to store them on exchange, instead store them in your personal wallet and hardware if you can get one because they are th safest out there. In preparation for a long period of bear  you have to be sure your capital are in good hands and you are the perfect person to handle that not exchanges or centralized wallet providers.

[Rigon]

Being the most secure in cryptocurrency usdt busd usd usdn etc. All these coins are being minted very stable and the price will never fluctuate. If you don't want to take risks in cryptocurrency then of course you can keep all stable coins. Never value all the coins Will not fluctuate. You can leave with security.

[JeffBrad12]

In my opinion there is really no difference between bank and USDT if they can freeze coins. So, I am just wondering, if you have any preferred stable coins which is safe and can't be frozen etc.ion

DAI was the only answer for your question but i have different opinion about that. I've been using USDT since it was getting introduced and im not feeling any problem with it. This backdoor used to prevent something like hacking fund. it has nothing to do to rob your profit from the market. that's why im not even feeling worry to keep my fund into the USDT

I wish to convert some of the coins to stable coins for next bull run.  So, your suggestions will be very much appreciated 

If you're feeling worry with USDT and just go for DAI but i think as long as you're doing good and you should not feel worry even to convert your money into the stable coin like USDT or something else

[pakhitheboss]

DAI is the best out of the listed stable coin. The only problem is that it is listed on very less exchanges. If you are looking for a long term hold because no one knows when will the next bull run start then use DAI. For short term period use USDT. If you are not doing any illegal activities with your USDT then it will not get frozen.

[GreatArkansas]

For me this time, I am more looking forward to a stablecoin that got a huge volume.
We all know that USDT is the most highest on the list and it is popular and most used stablecoin since the beginning but yeah FUD everywhere about Tether spread especially about the bear run last 2017-2018, some people telling it was because Tether is not backed 100% by USD, FUD.

USDC is the second one, after USDC started to pop and getting noise, I am more now using USDC compare to USDT, it's either on them. Even USDC got some FUD but the market cap and volume of USDC is huge too, so for me, it's either on the TWO.

[yazher]

The idea of USDT freezing those funds that came from hacks can't be removed to everyone that it can also freeze funds of anyone at their will.

DAI is decentralized and it may not be the safest in the opinion of others but it is decentralized.

If they can freeze our funds then it's not safe to store it there regularly we can only use it temporarily if we run out of choice. right now we have many more choices like the BUSD, USDC, and others which are also backed by the price of USD. I think it's best to also diversify our assets when we have a huge amount of cryptocurrencies to avoid freezing it in a single stable coin where we don't have any authority or free will to unfreeze it. It's the best thing that we have some kind of alternatives to avoid such problems in the future.

[SyndicateLabs]

The safety of stablecoins to me is an absolute trust and there is not much to think about. Most stablecoins are guaranteed, so the risk here is not much, I also see the day not only USD but other stable coins will appear more in the future.

[Kyraishi]

I'd probably say USDC for now.

Definitely avoid Tether, because it has been shown to run on fractional reserve and that can collapse honestly at any time.

Others aren't bad either but really you're comparing trash and trying to come up with the best out of a pile of garbage. Just avoid stablecoins altogether. If you need fiat liquidity use bank funds.

[cryptoaddictchie]

I wish to convert some of the coins to stable coins for next bull run.  So, your suggestions will be very much appreciated 

Comvert with some stablecoins that can give you profit by only holding them. On Binance Savings Product, the highest one gives a high percentage of APY is Dai, so if youre just gonna hold stablecoin then pick DAI ( If thats fine for your holding it /staking on Binance). But these choices are all good if you go outside of centralized system. But be careful since these stablecoins inst working like the fiat USD.

[XbladeX]

USDC was good for a while, and is also good for small transfers from exchange A to exchange B, but it is recommended that you immediately exchange it to some other tokens and not keep it as it is as it's still a stablecoin wherein they can do what they want. No reports of USDC being frozen or anything, but just to be safe.

IMO USDC depends how someone use it. If you have USDC stored on your leger/trezor as "bank account", for every exchange you generate new account to not mix them.
Then chance is close to 0% of being frozen. (you just keep it away from exchange and is not in exchange that is all)

Problems may come when you start using that USDC as transaction money,checking account if AML/KYC system of some exchange (like paranoid Bitstamp detects unusual activity) they will froze you all crypto if some chain analis firm will flag your USDC. There are specialized companies making such analyzes.

EU with their AML6 is being paranoid with that so try avoid EU with almost anything that can be seen as suspicious.
Since USDC is from US there is less regulatory problems than having stable from EU.

[dreamer81]

UST is by far the most stable and safest. It's 100% backed by the terra network.

It survived the may crash this year, so I think it has proven it's success.

[Gorosden]

I don't really have any preference when it comes to stablecoins. They're all the same to me. Though I try to avoid USDT like the plague as there have been a lot of horror stories with them lately, causing problems to traders that takes weeks or months to resolve.

USDC was good for a while, and is also good for small transfers from exchange A to exchange B, but it is recommended that you immediately exchange it to some other tokens and not keep it as it is as it's still a stablecoin wherein they can do what they want. No reports of USDC being frozen or anything, but just to be safe.

The horror stories surrounding usdt is why I use the stable coin, it means that the project is on extreme watch as we speak and again the team behind the project is known too, if something bad is going to happen trust me it won't be from a project we all expected, I fear decentralized projects more than centralised projects

[hugeblack]

Most of those *stablecoins* can be frozen so withdrawal it to your wallet many not make your funds 100% safe.
USDT is one of most of those stablecoins that have volumes in many exchange but it is not backed by 1:1 dollar so if any big problem happen you may lost your investments.

DAI/UDSC is better than USDT and have some good volumes in many exchanges.

other stablecoins are linked to some exchange and you must avoid them.

[aprilnot]

the safest and good stablecoin for me is DAI. it is probably the only stablecoin that maintains its decentralization. apart from this coin there is no stablecoin that is completely safe. USDT is good because it has a higher adoption rate. but on the other hand this coin is very centralized, as well as other stablecoins. so I don't really believe in stablecoins. it is better to use crypto like bitcoin, even though it is very volatile.

[bonyaserg]

Hello everyone, personally, I think that it makes no sense to keep coins such as USDT or USDC, since it is better to immediately exchange these coins for others such as Ethereum or Bitcoin, or there are a number of other promising coins. As investments in a promising coin such as Bitcoin or Ethereum or Binance can bring excellent returns.

[joniboini]

It survived the may crash this year, so I think it has proven it's success.

Even Tether got a few crash in its lifetime. I think it's hard to conclude that a token will last forever just because it survive one or two hiccups, but definitely a good indicator for short/mid-term decision. At the end of the day, it's quite stupid/risky if you decide to hold stable coin for years since the regulation is not yet clear. Who knows, maybe next year you won't be able to hold stable coin unless you do some KYC check on the project website.

Hello everyone, personally, I think that it makes no sense to keep coins such as USDT or USDC, since it is better to immediately exchange these coins for others such as Ethereum or Bitcoin, or there are a number of other promising coins. As investments in a promising coin such as Bitcoin or Ethereum or Binance can bring excellent returns.

These stable coins are created not for looking for ROI, but to keep your capital when volatility hits. Definitely not the best tool to store your wealth, but it still has its own merits, at least for now.