What is the most trusted stable coin currently (in your opinion)?

[feeling sound]

I know this question has been answered many times before.

However, I want the current market outlook.

Frist:Stablecoins are cryptocurrencies the value of which is pagged, or tied, to that of USD.

I made this post to discuss together which stable coin is the best stable coin in your opinion ?

The current biggest stable coins are:

1- Tether: USD

2- USD Coin: USDC

3- Binance USD: BUSD

4- Dai: Dai

5- True USD: TUSD

These are the biggest by marketcap .

After a research I saw that a lot of negative comments are about USDT.
However, USDC and BUSD seems the most trusted .

What do you think?

Thank you.

[Bttzed03]

Maybe it's just me but topics on stable coins comparison is becoming frequent lately and it's getting old. I don't know if it's being recycled intentionally or not. This topic for example https://bitcointalk.org/index.php?topic=5407643.0 has four pages of discussions already. It pays to read similar threads and learn from them. If you have further queries AND it's not talked about yet, then ask.

Anyway, here's another good read about the risks of using USDT, USDC, BUSD, and other centralized stable coins
[UPDATED] PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets

[bittick]

True. USDC and BUSD are the most trusted stable tokens. there was a reason why people called that as the most trusted stable token. The fact that if it's supported by newyork regulators. I just remind you that of regulators will not be randomly choosing the token or coin that will be worth to be supported. You must also search some articles and official announcements by newyork regulators about that.

[fuer44]

I prefer usdt, specifically I myself do not really understand between usdt usdc and several other stablecoins because almost all stablecoins have almost the same characteristics. but I often use usdt whether it's to store assets or just as a coin swap from an exchanger to a wallet.

[smartaction]

1- Tether: USD
2- USD Coin: USDC
3- Binance USD: BUSD

These stablecoins seem very credible to me.  And I use them constantly.  Especially BUSD & USDT I mostly use for trading purpose and other work. And Coinmarketcap and other trucking sites price truck as rate of USDT. On the other hand USDT is very popular in p2p trading and most people use USDT for P2P.

[Tony116]

I prefer usdt, specifically I myself do not really understand between usdt usdc and several other stablecoins because almost all stablecoins have almost the same characteristics. but I often use usdt whether it's to store assets or just as a coin swap from an exchanger to a wallet.

Objectively speaking, USDT remains the most popular stablecoin in spite of the shady allegations surrounding it. However, I believe that we will soon see the USDT overtaken by the USDC and BUSD in the near term .

1- Tether: USD
2- USD Coin: USDC
3- Binance USD: BUSD

These stablecoins seem very credible to me.  And I use them constantly.  Especially BUSD & USDT I mostly use for trading purpose and other work. And Coinmarketcap and other trucking sites price truck as rate of USDT. On the other hand USDT is very popular in p2p trading and most people use USDT for P2P.

I agree with you. If you are a P2P trader on Binance, then you also have to admit that the volume of trades is mainly made up of USDT, and not the remaining 4 stable coins. It's risky but we still can't give it up.

[o48o]

The current biggest stable coins are:

1- Tether: USD

That's USDT mate.

After a research I saw that a lot of negative comments are about USDT.
However, USDC and BUSD seems the most trusted .
What do you think?

That's FUD. Tether has won many cases against it in the court. If it was as bad as they said, it wouldn't be standing at this point. The fact that some of it is value is stored in something else then usd is just weird fud as banks themselves are way worse in this comparison (if everyone for some reason tried to withdraw their money at the same time, they couldn't)

Fud will come to other stablecoins too. Just give it time, they just don't have as much haters yet that it would fly.

[mindrust]

Stable coin and trust shouldn’t be in the same sentence. UST was trusted too… then it lost its peg. The same thing may happen to any of these stable coins.

People see them as risk-off assets and park their money there but in reality stable coins are way riskier than the crypto currencies.

I would rather keep my money in btc than keeping it is usdt.

[asriloni]

So many negative comments about USDT was coming caused by it was not being transparent about the reserved funds to peg its token unlike another stable tokens that became even more transparent. The ability to freeze people's funds owned by majority of stable tokens.
Talking about this feature is not relevant anymore since this function helped so many people to lose their money from the hacked cases.

[Wexnident]

If we were to not mind anything else and just choose between the available stable coins out there, I'd go for USDT and BUSD. I've used them for quite a long time now and I don't really have any complaints nor have I actually been inconvenienced afaik. There really weren't any big issues as well that troubled me when I was using them (If there were issues with it, I wasn't really updated with it most of the time).

If you consider how stablecoins are though, I don't think you should use trust on them with how they can basically pull out and ruin whatever amount you have to oblivion. I've never really held stablecoins, I mostly use them for my transactions.

[pakhitheboss]

I am not sure what you meant by trusted stablecoin? The top three on your list are controlled by a centralized exchange. Then how can you gain trust? There have been several articles and discussion in the past that stablecoin can be easily frozen and controlled by those centralized exchanges. For trading and payment purposes they do come handy but not for holding.

[trendcoin]

We have witnessed Tether and the like cause trouble many times before. That's why I don't use centralized stablecoins unless absolutely necessary. My choice is DAI because it is a decentralized stablecoin. It has a more secure structure than all of them. I don't trust central systems unless I have to...

[danherbias07]

Not fully trusted but more on usage. BUSD it is.
Most of my transactions now are relying on Binance Smart Chain so having BUSD is part of and so does BNB for fees.
But, I don't keep BUSD for a long time, I'd rather buy it again with BNB or other coins because that's not a secure way of keeping funds.
Most trusted: BUSD
As an asset: No.
Even if they have their own software wallet to keep it I would not dare try to make it an asset.

[kotajikikox]

When you say Trusted , does this mean legit and that will last long ?


Isn't USDT is the safest and most trusted?

though USDC is also making its way now  yet Tether is still the most trusted and most reliable as I have been using this over the years.

[Nrcewker]

I prefer usdt, specifically I myself do not really understand between usdt usdc and several other stablecoins because almost all stablecoins have almost the same characteristics. but I often use usdt whether it's to store assets or just as a coin swap from an exchanger to a wallet.

I will also say that USDT is best, it’s marketcap is comparatively high and also it’s a well popular coin.
The price along with all the coins mentioned in the OP are same but yes availability of USDT is more if we compare it with the rest.
USDT currently can be the ideal stable coin to do a stable or reference trade , but yes people have different opinions ans choice.
OP I suggested you about my experience and knowledge on the matter that you asked, rest is now up to you . What you want to choose or decide.

[blockman]

Many will say that they trust those stablecoins that are supported and made by exchanges like BUSD, USDT, and USDC. If you're not for those stable coins, you have the option to choose DAI. Just for the sake of others, DAI is a decentralized stablecoin and that's why many do like it and it's like low-key stablecoins. And to know more about what's with DAI and it's maintainer MakerDAO, you can do some research about them and the definitions about them.
(https://en.wikipedia.org/wiki/Dai_(cryptocurrency))

[AmoreJaz]

Many will say that they trust those stablecoins that are supported and made by exchanges like BUSD, USDT, and USDC. If you're not for those stable coins, you have the option to choose DAI. Just for the sake of others, DAI is a decentralized stablecoin and that's why many do like it and it's like low-key stablecoins. And to know more about what's with DAI and it's maintainer MakerDAO, you can do some research about them and the definitions about them.
(https://en.wikipedia.org/wiki/Dai_(cryptocurrency))

honestly, with the current situation today, i am trusting more the BUSD over USDT. USDT had a history of admitting they were not fully backed by assets. and somewhat, the 3rd party auditor of their platform is not very clear with things. but at the end of the day, it is your money, much better if you will not store your funds in stablecoin for long-term purposes. as they are mostly centralised, your funds can be frozen anytime. this is why some are going into decentralised stablecoin like DAI.

[Baofeng]

I will just talk about the stable coins that I have so far used, and that is USDT.

So far, although I have heard about a lot of negative things regarding this coins since like 2018, I still used them and so far it was good as far as my experience goes. So I will say that for me, it will be USDT. I don't want to used the word 'trust' though as it is subjective. But maybe because it was the first stable coin (as far as I know), and that is why up to this day, although there are a lot of better options, crypto investors are still using them.

[cryptoaddictchie]

Same sentiment on those two coins of usdc and busd. If Im gonna hold any stablecoin then these two are the top on my list since they are pretty well established. Usdt is also good in terms of trading as the volume is really important on such trading parameters. But when it comes to safety I prefer those two no doubt.

I like the idea of busd stablecoin when using Binance platform incurred zero fees which is quite helpful.

[Wincob]

Usdc and BNB are the most reliable ones, usdt isn't 100% reliable in my own world, only time will tell and if a big massive crumble is going to happen to crypto in future it will be from usdt, if usdt goes down crypto space will crumble for years.