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

[o48o]

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.

How much time you need for that? I mean if it would crumble surely it would be by now. They have won ton of court cases where they have suspected being a fraud. And they have to audit themselves to that. But for some reason people want that they are fully transparent to public. Which isn't how any serious business operates.

[RealMalatesta]

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.

We shouldn't though, I get that there are way too many places that we use them right now which would make it very difficult for us to stop right now, but decentralized versions are getting closer and closer and they are getting bigger as well.

Meaning that eventually we are going to start looking at things that would make sense to not even ignore or check, and eventually those decentralized versions will be the ones that we are using a lot. This is why I believe that we shouldn't be focusing on USDT or BUSD or USDC anymore, those things are of the past and what is of the past doesn't really suppose to be things that we look at right now anymore for our own future.

[Abiky]

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.

DAI is the best stablecoin among them all simply because it's decentralized. But that doesn't mean there's no risk involved when holding it. Maker's stablecoin (DAI) could easily lose its peg if ETH goes all the way down the drain. It's a collaterized stablecoin after all. So far, DAI has maintained its 1:1 ratio to the US Dollar, so it's very unlikely it'll go anywhere soon.

I wouldn't trust centralized stablecoins (especially Tether) because the risks of loss are extremely high. Many things could happen starting from the company/issuer running away with the money (scam), from governments taking action against the centralized stablecoin itself. Regulators are now closely following the stablecoins industry after Terra's UST collapse, so I'd recommend anyone to choose decentralized alternatives just to be safe. Just my opinion

[serjent05]

With the audit involved, I think the most trusted stablecoin would be USDC and BUSD.  They had a documented record of audit that shows their stablecoin is full backed by $USD and it was proven that logarithmic stablecoin isn't that stable, just look at what happen to UST, and USDT had caught lying to us regarding their statement that they are fully backed up by USD.

[Humility4sure]

When it comes to stablecoin, I'm personally more comfortable with USDT, probably because it has support from different blockchain and as they said old habits die hard. I've found myself going back to use either USDT or busd. From the information on CoinMarketCap, USDT tends to have a higher capitalisation than other stable coin and that could be because of the trust it has earned from several users of the stable coin.

[SistaFista]

Well, no.3 is my favorite trusted stable coin currently, BUSD from Binance Smart Chain.
Too many people doubting Tether (USDT), therefore i choose to using BUSD than USDT in my transactions.
When UST stable coin from LUNA value drop, more people started to doubt all stable coins in crypto, but i think BUSD is different from UST.

[gunhell16]

Currently what I am doing is using Binance exchange, and through this platform apart from Bitcoin I use USDT and BUSD and sometimes ETH as well, but often USDT when I withdraw money from the binance platform. So, in short these two, from what I can see of his behavior here, he is quite stable and he is not that affected if the price of the value of bitcoin falls. Also, if you look at its volume it is around 5.7B$ while USDT was around 47B$ plus according to CMC( coinmarketcap )

BUSD volume - https://coinmarketcap.com/currencies/binance-usd/
USDT volume - https://coinmarketcap.com/currencies/tether/

But a close friend of mine said USDC is more stable compared to USDT, I don't quite understand that although USDT is often used in most exchange platforms, as long as I remember he mentioned that there were times when there were problems with usdt compared to the USDC. However, I am still currently researching this matter.

[Farma]

With the audit involved, I think the most trusted stablecoin would be USDC and BUSD.  They had a documented record of audit that shows their stablecoin is full backed by $USD and it was proven that logarithmic stablecoin isn't that stable, just look at what happen to UST, and USDT had caught lying to us regarding their statement that they are fully backed up by USD.

well, I also think that BUSD has great trust, especially when they have a trusted CEO and team and a clear company, making trust in people grow. but still, of all of them, USDT has the most volume, and since the UST incident, I've been thinking about keeping coins stable in my wallet for too long. well, rather than stable coins, maybe I prefer Fiat, or other more popular coins like bitcoin or ethereum. but beyond that, I've only used USDT and BUSD so far for stable coin.

[cryptobadshah]

There are differences between the various stablecoins. As the number of stablecoins increases it is important to have a solid understanding of the options that are the most practical and securely rooted based on market capitialization these are the top stablecoins available right now Theter USDT is the most well known stablecoin in the cryptocurrency industry and its name comes from the fact that its value is tethered to that of the US dollar It is backed by regular currencies as well as cash equivalents in addition to gold Tether is also well known for its easy integration with crypto to fiat platforms and its high level of security.

[panjay]

well well well, looking at our condition, we all gonna chose USDT again, isn't it?

TUSD gone
USDC risk on sanction


or maybe we can choose BUSD with cz still backing it.

[Cryptornd]

decentralized Stable coins are better than centralized stable coins at all. furthermore  there are some major decentralized stable coins which based on substrate are gonna change whole stable coins mechanism . ( ausd) stable coin provided by acala. you can find some details with the link i stick below. always keep your eye on Polkadot and it's ecosystem's coins and tokens.

https://acala.network/

[Renampun]

my choice is DAI and BUSD...

especially BUSD which belongs to the Binance exchange (one of the best and most popular crypto exchanges in the world), as long as I actively use both I have never encountered a problem and the fee required for transactions is also very small compared to other stable coins.

[RussianEnglishTranslation]

I switched to MAI and MIM for stables and 0xMonero for mixing since Tornado cash is offline.

[mich]

My most trusted Stable coin is Tether and USD coin. My portfolio is heavily weighed in BTC and I’m always looking to diversify. I consider these two to be the most trustworthy of them all.

My reasons for liking these tokens are they are some of the most traded in terms of daily volume and I see increased adoption for the foreseeable future. I think these two tokens offer the most upside potential for me but I’m holding long on both.

[Gayong88]

Surely stablecoins can be trusted because people know that the token's value is consistently tied to the currency. People will buy and use these tokens if needed in their transactions, especially if they want to avoid the high volatility risks that come with other crypto assets. There are many types of stablecoins as you mentioned but the most important thing is fiat stability.

I think having faith in stablecoins depends on the question "Who are stablecoins used for?" If for speculation, will be vulnerable to market risk.

[Roxx Blockchain]

USDC is my choice but I am sure most are ok. Only USDt has had some bad press in the past.

[philipma1957]

All stable coins pegged to the USA dollar are under a lot of pressure due to the US I savings bond rate.

At the moment an I bond which is also pegged to the dollar by the US government is paying 9.62%

This hurts every stable coin bigly.

Why should I invest in a stable coin pegged to the dollar unless it pays more than 9.62%

Note I bonds are available to US citizens. I see the I bond rate and inflation itself being created on purpose to attack crypto especially USD pegged stable coins.


https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds.htm

"Series I Savings Bonds

NEWS: The initial interest rate on new Series I savings bonds is 9.62 percent. You can buy I bonds at that rate through October 2022. Learn more.

KEY FACTS: I Bonds can be purchased through October 2022 at the current rate.  That rate is applied to the 6 months after the purchase is made.  For example, if you buy an I bond on July 1, 2022, the 9.62% would be applied through December 31, 2022.  Interest is compounded semi-annually."

So this means all dollar pegged coins are fighting that interest rate.

I hold no stable coins and  I do have I bonds

[jation678]

BUSD is my #1 at the moment, too much uncertainty about USDT and USDC

[Jeger.Kiting]

I think it's true that using USDC and BSUD as a pair is safer than using USDT which is not transparent in terms of auditing, regulation and underlying storage, as stablecoins like Tether (USDT) are said to be at higher risk because they are less trustworthy. Although USDT has US dollars as its base, it is held in less reliable offshore banks and USDT is not audited regularly. This is in contrast to Binance USD (BUSD) which the company audits every month to make sure the money in the bank is equal to the BUSD in circulation. Meanwhile, USD Coin (USDC) follows United States regulations and cooperates with banks and auditors to be audited every month.

[pgbit]

So there are many stable coins running in the market right now. A stablecoin is a crypto coin whose value is always equal to one dollar.BUSD is one of my favorites stable coin which is most trusted and stable coin.It is also known as Coin of Binance Exchange.and this coin busd is approved by new york state department of financial services,its means that if you are taking BUSD, it has real assets to back it up.The reason for selecting BUSD is that they are audited, safe and secure,back up by real dollars. One BUSD is equal to one dollar.