Stable Coins ?

[igotek]

I use only BUSD and USDT as stable coins because I think they are safer options. But BUSD is no more option anymore because binance abondoning the project. Do you advise other stable coins and why ?

Lately I bought Ledger Nano X. I want to save my coins in it.
Which network is safer for holding USDT in Ledger ? ERC20 or TRC20 ?

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[batang_bitcoin]

Lately I bought Ledger Nano X. I want to save my coins in it.

Great! if you're able to gain your hardware issue but just don't get into the recovery option and feature of that, okay?

Which network is safer for holding USDT in Ledger ? ERC20 or TRC20 ?

Both are fine but if you are saving some fees, TRC20 is the option. That's the advantage of going into TRC20 because of the cheaper network fees than the ERC20.

[Pandji02]

ERC20 and TRC20 are both pretty good. If you're not sending your USDT often, I'd choose ERC20, TRC20 has cheaper fees, but TRX is not as big and trustable as ETH.

[Publictalk792]

Exactly the Binance is delisting the BUSD. This is not the end of the BUSD but this is a good decision to leave this stable coin. Because anything can happen in the cryptocurrency world.

Both options like USDT in TRC20 and ERC20 are good you can use you can choose one of them from both. But there is anything can happen in so be careful. Sometimes stable coins also depegg and can crash the market.
Both of them ERC20 take more fee as compare to the TRC20. Otherwise both are good.

And your decision regarding to buy Nano X a good decision. Storing the assets offline is an excellent idea.

[libert19]

I prefer usdc above usdt, reasons unknown. For usdc, circle has deployed it on several evm chains, so if erc20 fees may seem higher to you, you can use cheaper chains arbitrum/polygon/optimism/etc [1].

I find ethereum trustable compared to Tron, so there is no question of erc20 or trc20.


[1] https://www.circle.com/en/multichain-usdc

[HunterBTC]

In my opinion, each coin has an 'active' period that has been calculated like a cycle with a market share that does not increase all the time.  Maybe because of uncertain market needs, coin prices are unstable.

[martinex]

Do you advise other stable coins and why ?

I don't think USDT is better, This is why USDT is dominant for everyone because it is the most traded cryptocurrency in the world and if OP says that BUSD is less of a priority, that makes perfect sense.

In my opinion, each coin has an 'active' period that has been calculated like a cycle with a market share that does not increase all the time.  Maybe because of uncertain market needs, coin prices are unstable.

I think it's normal, all because of a number of controversies and concerns. If, I'm not mistaken, BUSD is also managed by a consortium which includes well-known financial companies too, but if Binance has gone there, this must also be taken into account because if there is talk that if BUSD is removed from the exchange it will be at risk in the future.

[btc78]

trc20 and erc20 are almost identical they are based on two different blockchains trc20 being based on tron and erc20 being based on ethereum some exchanges might not support both but instead will only have one
trc20 is definitely faster and has much cheaper transaction fees than erc20 which makes it more suitable for everyday use

[jrrsparkles]

I use only BUSD and USDT as stable coins because I think they are safer options. But BUSD is no more option anymore because binance abondoning the project. Do you advise other stable coins and why ?

USDT is centralized which means it can be frozen even if it's stored in a non-custodial wallet which makes it as unsecure from my perspective. ANd there are decentralized stable coins like DAI which are controlled by smart contracts so the value will remain close to $1 all the time.

Lately I bought Ledger Nano X. I want to save my coins in it.
Which network is safer for holding USDT in Ledger ? ERC20 or TRC20 ?

So as I said, its not secure for storing purpose but if you still need to pick one then TRC20 because its cheaper to transact than erc 20 tokens also the liquidity is vast in all the exchanges.

[bastian466]

Because the BUSD token issued by the exchange is the same as BNB whose owner is the Binance exchange, so if something bad happens to the exchange it will have the same impact, therefore we need to be careful if we want to keep it for a long time. I rarely use both stablecoins, namely BUSD and USDT, but if I had to choose, I would use USDT for other purposes, for example to move between exchange markets to reduce transaction costs

[jrrsparkles]

Because the BUSD token issued by the exchange is the same as BNB whose owner is the Binance exchange, so if something bad happens to the exchange it will have the same impact, therefore we need to be careful if we want to keep it for a long time. I rarely use both stablecoins, namely BUSD and USDT, but if I had to choose, I would use USDT for other purposes, for example to move between exchange markets to reduce transaction costs

BNB is a project that was started as a token but now it has come a long way ahead and is more of a competitor for Ethereum dapps so even if the exchange take a hit there won't be a significant affect on the BNB but the story is different with BUSD that is actually going to be terminated so OP is looking for suggestions and USDT isn't always safer or cheaper.

[bastian466]

Because the BUSD token issued by the exchange is the same as BNB whose owner is the Binance exchange, so if something bad happens to the exchange it will have the same impact, therefore we need to be careful if we want to keep it for a long time. I rarely use both stablecoins, namely BUSD and USDT, but if I had to choose, I would use USDT for other purposes, for example to move between exchange markets to reduce transaction costs

BNB is a project that was started as a token but now it has come a long way ahead and is more of a competitor for Ethereum dapps so even if the exchange take a hit there won't be a significant affect on the BNB but the story is different with BUSD that is actually going to be terminated so OP is looking for suggestions and USDT isn't always safer or cheaper.

I think there must be a significant influence. but we can't yet predict how great the impact will be. What if you look at the FTX exchange that has FTT coins, what impact do you know after it goes bankrupt?

[fzkto]

ERC20 and TRC20 are both pretty good. If you're not sending your USDT often, I'd choose ERC20, TRC20 has cheaper fees, but TRX is not as big and trustable as ETH.

I don't think that if trx was not trustworthy, Tether would trust them to create a token. It's just that ethereum blockchain is popular among other projects and trx is popular only because of usdt trc20. Cheap commission is really their advantage.

[jrrsparkles]

Because the BUSD token issued by the exchange is the same as BNB whose owner is the Binance exchange, so if something bad happens to the exchange it will have the same impact, therefore we need to be careful if we want to keep it for a long time. I rarely use both stablecoins, namely BUSD and USDT, but if I had to choose, I would use USDT for other purposes, for example to move between exchange markets to reduce transaction costs

BNB is a project that was started as a token but now it has come a long way ahead and is more of a competitor for Ethereum dapps so even if the exchange take a hit there won't be a significant affect on the BNB but the story is different with BUSD that is actually going to be terminated so OP is looking for suggestions and USDT isn't always safer or cheaper.

I think there must be a significant influence. but we can't yet predict how great the impact will be. What if you look at the FTX exchange that has FTT coins, what impact do you know after it goes bankrupt?

Already Binance took multiple hits from the Feds still there is still no effect at all on the project.

Binance sued with a 4.2 billion dollar penalty so the exchange has to pay it in just 6 months but they are making way a lot more than that. But this is the first time the exchange doesn't take a hit but we never know where it will leads to but as for now its strong but FTX is different and it remained as just a token until busted.

[Sophokles]

I use only BUSD and USDT as stable coins because I think they are safer options. But BUSD is no more option anymore because binance abondoning the project. Do you advise other stable coins and why ?

Lately I bought Ledger Nano X. I want to save my coins in it.
Which network is safer for holding USDT in Ledger ? ERC20 or TRC20 ?

BUSD will cease to exist in the future. PAXOS will stop supporting BUSD and USDT has its own issue with redeeming USDT in fiat USD from the US bank. Just look at all the other stablecoins. When most of them even the largest one, USDC loses half of its marketcap USDT keeps rising. USDT is not a volatile asset so this is something unnatural and something to be concerned about.

ERC20 and TRC20 are both widely accepted in centralized exchanges, so i am not seeing any issue with either type. But ERC20 version has more liquidity than the TRC20 so if anything bad happens it will be easier to sell your ERC20 version i think.

[albon]

BUSD will cease to exist in the future. PAXOS will stop supporting BUSD and USDT has its own issue with redeeming USDT in fiat USD from the US bank. Just look at all the other stablecoins. When most of them even the largest one, USDC loses half of its marketcap USDT keeps rising. USDT is not a volatile asset so this is something unnatural and something to be concerned about.

ERC20 and TRC20 are both widely accepted in centralized exchanges, so i am not seeing any issue with either type. But ERC20 version has more liquidity than the TRC20 so if anything bad happens it will be easier to sell your ERC20 version I think.

Indeed, BUSD has been replaced by FDUSD on Binance as of December 15, the main platform that supported it. Paxos will continue to support it until February 2024, as the issuance of new BUSD has ceased. BUSD was among the best stablecoins in the market and will soon cease to exist. Most stablecoins may fail due to regulatory pressures and the failure to provide currency reports. USDT is currently considered the best option, and the TRC20 network is the best in terms of fee cost, as ERC20 fees are excessively high compared to other networks, and the Ethereum network is consistently congested. Therefore, diversifying the wallet with multiple supported stablecoins in a hardware wallet and on networks that offer cost-effective solutions and transaction speed is considered the ideal solution.

[JeffBrad12]

both blockchain are just as safe, and yes even binance has given some notice about the abandonment of BUSD, right now many people are using DAI and also just go on and use the highest volume stablecoin in existence, using any stablecoin honestly is fine as long as you're not holding for too long because learning from USTC you know that sometime the system that pegs the stablecoin itself has some flaw and if people are trying to take advantage of it the coin might collapse, im talking about those coins that pegged to cryptocurrencies that have the same fluctuation and also automated.
always remember the cause of USTC collapse and also remember to now use stablecoin that has more or less the same system.
so basically you're fine, otherwise if its for long term, you can just use eth and btc honestly also doing investment at the same time.

[Silberman]

I use only BUSD and USDT as stable coins because I think they are safer options. But BUSD is no more option anymore because binance abondoning the project. Do you advise other stable coins and why ?

Lately I bought Ledger Nano X. I want to save my coins in it.
Which network is safer for holding USDT in Ledger ? ERC20 or TRC20 ?

It is a good idea to avoid BUSD as it will not be long until it disappears, however there are a few other stable coins that you may be interested in holding as it is never a good idea to have all your money invested in a single one due to the possibility of a collapse happening overnight, and when it comes to which network to use, since it seems you want to hold your stable coins for a long period of time, and you may not be interested in moving them too much then the ethereum network seems like the best fit for your needs.

[soramon]

I use only BUSD and USDT as stable coins because I think they are safer options. But BUSD is no more option anymore because binance abondoning the project. Do you advise other stable coins and why ?

Lately I bought Ledger Nano X. I want to save my coins in it.
Which network is safer for holding USDT in Ledger ? ERC20 or TRC20 ?

I can't recommend it but I personally use BUSD, USDT and USDC. I also often use USDC for transactions in the cryptocurrency world besides BUSD and USDT. A safe network for storing ledgers that I've been using is only ERC 20, I don't know whether the TRC 20 network is safe or not, I'm just sharing what I do, don't copy me, 100% of this is just me personally, stay firm with your choice and do deeper research. separately