Which stablecoin the safest?

[Sokani]

In respect to this topic, which is currently being discussed in the Bitcointalk forum:
Tether USDT and it's freezing features

I will like to ask about the best stablecoin, which could be considered the safest in terms of privacy and freedom, which includes being in full control of your holdings.

USDT and USDC are the most popular stablecoins, they're owned by Tether and Circle respectively and they're under the claws of the authorities. If any suspicious activity is detected or if a scammer steals these coins, it can be easily frozen. But DAI is a decentralized stablecoin that's issued by makerDAO, it's not under the control of the government, and decisions about the coin is made by the community. If I wanted to hold a stablecoin for privacy concerns, I'd settle for DAI.

[debra]

USDT and USDC are the most popular stablecoins, they're owned by Tether and Circle respectively and they're under the claws of the authorities. If any suspicious activity is detected or if a scammer steals these coins, it can be easily frozen. But DAI is a decentralized stablecoin that's issued by makerDAO, it's not under the control of the government, and decisions about the coin is made by the community. If I wanted to hold a stablecoin for privacy concerns, I'd settle for DAI.

USDT is the most popular, it is the top 3 of crypto in the world. Although Tether has bad issue, I think it won't bring so much impact on USDT. People already trust USDT more than other stable coins, some people even use USDT as an investment. For USDC, it is also quite popular but it is not as popular as USDT. I think USDC and DAI will be the alternatives of USDT, people choose them if there is no USDT in the exchanges. Or when USDT dropped quite a lot.

[Charles-Tim]

Stable coins are pegged coins. What is pegged can fall out of peg and deviate from the real price. So use them wisely.

For USDC, it is also quite popular but it is not as popular as USDT. I think USDC and DAI will be the alternatives of USDT, people choose them if there is no USDT in the exchanges. Or when USDT dropped quite a lot.

When USDT dropped quite a lot? In price or marketcap? Be it any of the two, I do not quite understand what you meant about this. USDT marketcap increased and also the price is not falling out of peg.

USDT, USDC and many of them can be frozen. No evidence yet that DAI can be freezed. But DAI is collateralized with coins like USDC. Which means if USDC depeg, DAI will depeg.

[antonyyu3]

I think at this stage, choosing the best stablecoin is still based on the Fiat currency behind it. Since the USD still plays a dominant part in currency in the past 50 years. That is what other currencies couldn't compete. I will suggest USDT and other USD-related coins

[Sokani]

USDT is the most popular, it is the top 3 of crypto in the world. Although Tether has bad issue, I think it won't bring so much impact on USDT. People already trust USDT more than other stable coins, some people even use USDT as an investment. For USDC, it is also quite popular but it is not as popular as USDT. I think USDC and DAI will be the alternatives of USDT, people choose them if there is no USDT in the exchanges. Or when USDT dropped quite a lot.

I hope you got the point Charles-Tim is trying to establish here since you're talking about trust. Stablecoins depeg and that's one of the disadvantages of holding it for a longer period of time. According to data from S&P Global, USDC and DAI are more prone to depegging and that could be one of the reasons investors prefer USDT over them. Sometimes when it depegs, it may not recover back and example of such cases is TerraUSD¹.

1. The fall of UST and Luna

[Peter90]

I think at this stage, choosing the best stablecoin is still based on the Fiat currency behind it. Since the USD still plays a dominant part in currency in the past 50 years. That is what other currencies couldn't compete. I will suggest USDT and other USD-related coins

so to people who look for stability you suggest coins related to this?
is this your idea of stability?






"That is what other currencies couldn't compete"
Not true.
There is another currency that can compete with USD.
In fact... she competed... and she won!

[YoshiGang777]

I hold 50% in USDT 50% in usdc

[JISAN]

In respect to this topic, which is currently being discussed in the Bitcointalk forum:
Tether USDT and it's freezing features

I will like to ask about the best stablecoin, which could be considered the safest in terms of privacy and freedom, which includes being in full control of your holdings.

All stablecoins are centralized so you don't get any freedom here. And to find a safe stable coin you need to find a platform that is trustworthy. USDT has a lot of value in the market and it can always maintain 1:1 ratio so in this case I think USDT is the strongest stable coin among others. I myself always use USDT. But many prefer USDC and Binance lovers also use BUSD. So it's up to you which one you use. USDT, USDC and BUSD are all in the market with many values.

[antonyyu3]

If you could use US dollar for trading, I would suggest you trade in this way instead of using stablecoin. Even though stablecoins are pegged with fiat currencies, currencies like US dollar is relatively more reliable if we consider the global dominance and influences it has. And sometimes things can happen on stablecoin. And it might cause any safe issues in the crypto market. But when things happen on US dollar, the whole financial market will be so screwed up.

[Peter90]

If you could use US dollar for trading, I would suggest you trade in this way instead of using stablecoin. Even though stablecoins are pegged with fiat currencies, currencies like US dollar is relatively more reliable if we consider the global dominance and influences it has. And sometimes things can happen on stablecoin. And it might cause any safe issues in the crypto market. But when things happen on US dollar, the whole financial market will be so screwed up.

There is a currency which in the last 30 years has been much stronger than $
$ value depends on 8.000 tons of that currency that apparently are stored in Forth Knox and some other place, backing the $
Stablecoins backed by that currency are by far more reliable than stablecoins backed by $


This chart shows (I think) how many mg of that currency you could buy with $1 in 1997 vs. today 

[arabspaceship123]

I didn't know about the topic in bitcointalk so I'll make a post there. Centralised stablecoins they're all capable to freeze your funds so if you're asking protecting from freezing there isn't one which's safest.

In respect to this topic, which is currently being discussed in the Bitcointalk forum:
Tether USDT and it's freezing features

I will like to ask about the best stablecoin, which could be considered the safest in terms of privacy and freedom, which includes being in full control of your holdings.

[jamadrianne]

In my opinion, USDT is the best stablecoin to have. It is backed by USD and which is a stable one.

[Gurujebs]

In my opinion, USDT is the best stablecoin to have. It is backed by USD and which is a stable one.

USDT is not the safest stablecoin out there but by popularity, they dominate the crypto space and many times, people has disagree with their opinion that Tether is not fully backed by usd, some are back by treasury bills and many other financial instruments and because they can freeze your usdt again makes it worse. So, you better use it with caution because it's a centralized stablecoin that can be freeze anytime any day.

The most trusted stablecoin of all time is Dai, it's a decentralized stable coin on ethereum and it's very safe and can be redeem anytime you like. It's one of the oldest stablecoin out there.

[I-Bit]

In my opinion, USDT is the best stablecoin to have. It is backed by USD and which is a stable one.

It can be quite subjective about which stablecoin is the best.
Some people can choose USDT, other choose USDC, and the rest choose other stable coins.
I'm not sure if USDT is fully backed by USD although the team stated in their site. And it is also not 100% secure because the price of USD sometimes falls. No currency is very secure, personally I prefer the coins backed up by gold.

[debra]

When USDT dropped quite a lot? In price or marketcap? Be it any of the two, I do not quite understand what you meant about this. USDT marketcap increased and also the price is not falling out of peg.

The price of USDT dropped against the price of my local currency. It is what I mean.
For the market cap, I really understand if it always increases. I never stated the market cap of USDT was falling.

I hope you got the point Charles-Tim is trying to establish here since you're talking about trust.

What trust do you mean? I never destroy the trust on USDT.
Lol, it seems you all misunderstand my post. I only wanted to say that USDT price can drop against the price of my local currency. It doesn't always stable, it sometimes fluctuates although it didn't fluctuate like the common coins. Anyway, this is what I see in our local exchanges.