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Author Topic: Which stable coin is more secure?  (Read 1442 times)

Cakra bumi212

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Re: Which stable coin is more secure?
« Reply #15 on: April 30, 2022, 10:58:50 AM »
In my opinion, a stable coin that is quite safe at this time is USDC as a place of storage because it is more paired and transparent than using USDT.
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Re: Which stable coin is more secure?
« Reply #15 on: April 30, 2022, 10:58:50 AM »


The Professor

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Re: Which stable coin is more secure?
« Reply #16 on: April 30, 2022, 04:52:26 PM »
I believe USDT is more secure than others,I'm using Bitay for trading and USDT was always more popular than others, sometimes it's more popular than top10 crypto projects tbh ^^ I believe their platform is solid af.

I think BUSD and USDT are the best stable coin that I choose.
I always do trading in binance, So that think BUSD is my favourite stable coins to safe my assets.
Maybe other have other opinions, Let's share.
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Re: Which stable coin is more secure?
« Reply #16 on: April 30, 2022, 04:52:26 PM »
:)

Monkey Monster

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Re: Which stable coin is more secure?
« Reply #17 on: May 17, 2022, 12:02:57 PM »
USDC is indeed a legendary coin that was designed based on the Ethereum network and since it was first created, USDC has also attracted investors with the existing security system of the ERC20 type.
But I also see that USDT is a legendary coin that has stable coins from the OMNI blockchain and then chooses to expand its business on the blockchain from Ethereum, BSC, Solana and also Polygon Matic.
I prefer to bet on BUSD because BUSD has super flexible power backed up by Binance Exchange.
Both USDC and USDT can be used for lending, staking, and  providing liquidity for trading pairs, though their returns and functionality  may differ. I agree with you on BUSD because it is also widely regarded as  one of the most secure stablecoins on the market.


pelana vreo

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Re: Which stable coin is more secure?
« Reply #18 on: May 23, 2022, 05:39:56 AM »
As long as the stable coin is backed up using USD, the stable coin is safe in terms of price, but for other security such as the UST system, it makes the stable coin unsafe.
Nothing is safe in the crypto space, USDT still has a bit of a problem with the Audits they promised Regulators. I hope that Coinstable can be managed by the government soon, so that something like UST doesn't happen

Review Master

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Re: Which stable coin is more secure?
« Reply #19 on: May 23, 2022, 08:18:11 PM »
As long as the stable coin is backed up using USD, the stable coin is safe in terms of price, but for other security such as the UST system, it makes the stable coin unsafe.
Nothing is safe in the crypto space, USDT still has a bit of a problem with the Audits they promised Regulators. I hope that Coinstable can be managed by the government soon, so that something like UST doesn't happen

UST wasn't a pure stablecoin as UST was called algorithmic stablecoin because it wasn't backed by real usd, however other crypto assets were backing it. That's why one whale took the chance from recent market correction and dumped it from its pegged price. After that, other stablecoins were targeted and de-pegged from its pegged price which is $1.
Yeah, nothing is safe in this market, just dyor and jump into those.  :)
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Re: Which stable coin is more secure?
« Reply #20 on: May 25, 2022, 06:58:50 PM »
So lets look at why stablecoins may or may not be secured.
1. They are not backed up by enough collateral or some complex collateral like algorithm - TerraUSD
2. There is not enough audit and transparency - most publish their own and not many independents

Since the fall of UST a lot of companies have started to move away from this place, moving closer to transparency and also more fiat backing as TetherUSD and BinanceUSD recently announced. My extensive research has also led me to some smaller providers like fluid.ch DigitalDollar(DUSD) with different approach to the subject essentially moving users cash from the fiat status to digital status transparently this may be the approach for the future of stablecoins. Where users mint their own coin directly from their fiat currency. It seems a safer and more secured approach.
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Digital Cash - https://fluid.ch/our-products/digital-cash/
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