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

[posi]

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.

Crash of UST is also possible with these stablecoins but the likelihood is much lower. UST is an algorithmically stable coin backed by other crypto-assets, which poses a risk when the market declines in the value of the cryptocurrency, leading to the UST's hedge fund not guaranteed. Unlike UST, USDT or USDC is backed 1:1 with USD. This is somewhat safer. I am not saying that USDT will be absolutely safe as there are many factors we have not considered, but it will be more secure than algorithmically stable coins.

[Farma]

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.

well, as long as it's centralized, I think there will be stable potential for the coin to be like UST. however, if this is in the long term, I also prefer to hold the assets I have in bitcoins rather than stable coins.
it's just that, for now, I mostly use USDT and BUSD for coin stability. I think, the two stable coins are bigger than the others, so the potential to fall is still less than the others. however, I've always used only the two stable coins.

[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))

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.

Despite that many don't like USDT today and say that they're preferring BUSD to it, the volume of it is still high and that's why it's on the top. Even, if there's a centralized stablecoin that I should choose, I'll be having BUSD. The issuer of it has proven its worth and the business that they're running. Thus, they've got several assets and partnerships that will make their own stablecoin stand and be tested over time.
You choose your pick and be aware that you know what behavior they can have by providing these stablecoins.

[ethereumhunter]

But I'm curious about the word "trust" you say because it means we trust stablecoins. But in what way?

I prefer to use USDT than anything else. And I often use USDT in converting my bitcoins or altcoins because I see for trading, USDT is more widely known on many exchanges (or maybe I'm wrong on this). But I don't use other stablecoins very often, but I don't know why.

[icalical]

Most trusted? I don't think I could give 100% trust to any stablecoin, I don't think trust is the term. I mostly use BUSD to send or receive money, but it's not because I trust it, I wouldn't hold the coin any longer than I should, I just think since it's own by binance I could rely on them that BUSD will still has value as long as binance is operating, but I couldn't trust Binance is totally honest about their statement that they have 1 USD for every 1 BUSD in their reserve.

[justdimin]

Despite that many don't like USDT today and say that they're preferring BUSD to it, the volume of it is still high and that's why it's on the top. Even, if there's a centralized stablecoin that I should choose, I'll be having BUSD. The issuer of it has proven its worth and the business that they're running. Thus, they've got several assets and partnerships that will make their own stablecoin stand and be tested over time.
You choose your pick and be aware that you know what behavior they can have by providing these stablecoins.

The main reason people like me prefer BUSD over USDT is not because the stablecoin itself, but because it is something that I would always prefer based on the company. I do not know about Tether, it is a company and there are some executives there, that's literally all I know about it.

But, Binance is not like that, I trust it more because I know for a fact that I use them a lot more, it is not just a stablecoin company with billions in the bank, they are also a huge exchange which means that they actually do have all of our money there anyway. We trust them with our funds when trading, so why not trust them with BUSD when we already gave that away once.

[|MINER|]

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I agreed that USDT more widely used and known but it's background is little bit shady than USDC and BUSD. If anyone ask me for the trust then I will prefer first BUSD and USDC then USDT. Because  usdc is backed by us dollar and BUSD is also back by us bank . On the others hand usdt has the higher trading volume but it's not fully backed by cash reserves. Also have some reputation issue.

[kro55]

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I agreed that USDT more widely used and known but it's background is little bit shady than USDC and BUSD. If anyone ask me for the trust then I will prefer first BUSD and USDC then USDT. Because  usdc is backed by us dollar and BUSD is also back by us bank . On the others hand usdt has the higher trading volume but it's not fully backed by cash reserves. Also have some reputation issue.

USDT is backed by USD and government bonds, unlike USDC and BUSD which is 100% backed by USD. Personally, I don't see much difference in the use of stablecoins, despite the shady accusations of USDT but look, trading volume is still at the top among all stablecoins and is supported by all trading platforms.

You can use whatever stablecoin you feel comfortable with as long as you don't hold all your assets in stablecoin.

[JayTrain]

for me, USDT(Tether) inspires confidence, although many people say bad things about this stablecoin, but in the end it ranks 3rd in CMC by capitalization and its capitalization continues to grow.Also, for me, the USDC is in second place, I can't say anything bad about this stablecoin.

[maartenhaha]

I only believe in stable coins USDC, BUSD, I have held these two coins since 2018 and I still consistently hold these two coins, I will make these two stable coins as assets for the future.

[LogitechMouse]

It's USDC and BUSD for me.
USDT Tether has been the the first stablecoin out there but throughout the years, it has been into many controversies that affected the trust of some people but even though Tether had those problems, many people and many exchanges are still using it alongside other stablecoins.

Will I put my money there? I don't think so because anytime, it might de-peg like what happened to UST. Maybe some will say that UST is different from other stablecoins for some reasons and that might be true but we don't know what can happen. Did we expect UST to be like what it currently is right now? We also saw USDT de-peg momentarily before going back to 1$. Overall, all people can trust any stablecoin out there but as for me, the 2 that I said is what I trust the most.

[cloudfir3e]

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.

For now it will be safer if we choose USDC, because the stablecoin token made by Circle has reserve assets not only US dollars, but also US government bonds or short-term US Treasury as its reserve assets.

With the short-term United States Treasury as one of its reserve assets, the USDC stablecoin becomes more attractive because it is relatively safer than other stablecoins and USDC is a stablecoin pegged to the US dollar at a 1:1 ratio, like other stablecoins. each unit of this crypto in circulation is backed by US$1 held in reserve, in the form of a cash mix.
so don't be surprised if USDC is safer and the price is still stable, the market capitalization of USDC is still increasing.

[Yiodilly]

I'll go with USDT too. However, I've no idea why, just lots of people(business) are using it and so am I. But reading through all the replies up there makes me realize that it's time for me to do some research

[fuguebtc]

I'll go with USDT too. However, I've no idea why, just lots of people(business) are using it and so am I. But reading through all the replies up there makes me realize that it's time for me to do some research

USDT is considered as the default stable coin in the market, so for a newbie like you being mentioned and encouraged to use USDT is not strange. Once you've been in the market for a while and start doing your own research, you'll find the coins that work for you, don't worry.
If comparing USDT with other stablecoins is not so bad as people say, USDT is still being used on most exchanges so you don't have to worry.

[diminizio]

BUSD. Although USDT is more widely used by everyone, there are still things they hide that are still not clear to the public view. An example is how about a USDT backup which says 1:1 with FIAT, but some people believe it's only a few percent. but BUSD is clearer with a trusted exchange, it is a strong backup.

[hichamito37]

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.

Yes, all of them are not 100% safe but we still have to use them, sometimes it is essential for our investment. If you just hold bitcoin and when bear season comes, bitcoin price plummets, your assets will also be severely affected, but if you hold USDT or BUSD during bear season, you will be much more secure.

[juanda]

I think the stablecoin I have trusted is USDT because USDT is still in the top 3 based on coinmarketcap. although there are many negative assumptions about USDT but I still hold USDT to this day. maybe BUSD has won the trust of users because BUSD is a product of Binance and is fully supported by binance which has become the largest exchange market today. but I trust USDT more until now.

[tvplus006]

I think the stablecoin I have trusted is USDT because USDT is still in the top 3 based on coinmarketcap...

The large capitalization of a stablecoin cannot be a guarantee of its security. After all, any issuer of a stablecoin can print an unlimited amount of its stablecoin, which can increase its capitalization several times at once. Here, the reliability of the issuer behind this stable coin is more important, and what reserve assets are used and their quantity to support a stable exchange rate.

[SirLancelot]

I think the stablecoin I have trusted is USDT because USDT is still in the top 3 based on coinmarketcap. although there are many negative assumptions about USDT but I still hold USDT to this day. maybe BUSD has won the trust of users because BUSD is a product of Binance and is fully supported by binance which has become the largest exchange market today. but I trust USDT more until now.

Despite of the negative comments, usdt is still standing strong on the number 3 spot and I think this is because a lot of people are still using it and like you, they are also unaffected with what they hear but will you guys wait before the bad thing really happens with this coin? Oh well, at least you have been warned. So you guys shouldn't complain and cry later on.

There are many coins that are under the top spots of cmc before, that also have gone bad. A couple of them are those meme coins and also the famous terra coin. You better change your preference when you pick and trust a coin and not just totally depending on their ranks.

[goaldigger]

I think the stablecoin I have trusted is USDT because USDT is still in the top 3 based on coinmarketcap...

The large capitalization of a stablecoin cannot be a guarantee of its security. After all, any issuer of a stablecoin can print an unlimited amount of its stablecoin, which can increase its capitalization several times at once. Here, the reliability of the issuer behind this stable coin is more important, and what reserve assets are used and their quantity to support a stable exchange rate.

Though capitalization is a big thing, I can say that its also important to have that reserve assets just in case something bad happen in their network. Many learned the lesson from what happened in LUNA, that’s why there’s a trust issues with the stablecoins already, but for me USDC and BUSD are still good, they have a good amount of reserve which is enough to give assurance to their hodlers. I often used BUSD since I trade on Binance and there’s a lot of pairs under this stablecoin, just use what’s convenient for you but remember to stay cautious and be alert of what’s happening in the market, especially with those stablecoins.