Which stablecoin the safest?

[Alston Liu]

I think USDT is relatively safe. But anyway, there is no such thing as safest in the financial market especially crypto market which is arguably one of the most volatile market in the world. And the fact that no one actually knows whether Federal Reserve holds the same amount of USD is really building up more uncertainty. 

[WatChe]

I think USDT is relatively safe. But anyway, there is no such thing as safest in the financial market especially crypto market which is arguably one of the most volatile market in the world. And the fact that no one actually knows whether Federal Reserve holds the same amount of USD is really building up more uncertainty.

They say that USDT is backed by USD and USDT is issued by Tether, a company owned by iFinex. But we have no clear visibility through which we can verify that there is USD for every USDT issued.
But still USDT is a reliable stable coin among all stable coins revolving in the market. There is no guarantee about how long it will retain his reliability.   

[NikeFit_7777]

I think USDT is relatively safe. But anyway, there is no such thing as safest in the financial market especially crypto market which is arguably one of the most volatile market in the world. And the fact that no one actually knows whether Federal Reserve holds the same amount of USD is really building up more uncertainty.

I'm willing to bet in that regard. Just because the USDT is believed by most users does not mean that it is safe. Any negative news from the SEC regarding their campaign, could spell big trouble.

P.S. Try (to the best of your ability) to stick to diversification. Not only in paper bills, but also in digital assets. In case of anything, so that no unpleasant situations arise. + don't fall for what's in the news etc.

Tether has minted another 1$ billion of USDT. 

[I-Bit]

They say that USDT is backed by USD and USDT is issued by Tether, a company owned by iFinex. But we have no clear visibility through which we can verify that there is USD for every USDT issued.
But still USDT is a reliable stable coin among all stable coins revolving in the market. There is no guarantee about how long it will retain his reliability.

I can agree with you, buddy. Although they said that each USDT is backed by USD, we don't really know the truth. There is no regular update from the company about this information. So, we mostly just guess it. But if we look at the market cap of USDT, we can assume USDT is quite trustable. USDT is the most stablecoin used by all crypto users.

[erus]

Just looking at Coinmrketcap as a recommendation from seeing so many stable coins and the most numerous is always the valuation of Tether, I don't know about the development of the previous Tether coin or Tether's struggle to create a stable coin, I definitely see that this stable coin from Tether has a lot of value. I see that there are USDC, FDUSD, DAI which are in the high rankings of coinmarketcap but in my opinion Tether is probably the safest.

[Jun]

Stable coins because of potential bridge between the traditional gap between financial systems it'd offer benefits such as fast transaction and secure.ther are several factors to evaluate the stable coins. Transparency and regulation,collateral mechanism, audits and reserves,

[KingsDen]

I think USDT is relatively safe. But anyway, there is no such thing as safest in the financial market especially crypto market which is arguably one of the most volatile market in the world. And the fact that no one actually knows whether Federal Reserve holds the same amount of USD is really building up more uncertainty.

They say that USDT is backed by USD and USDT is issued by Tether, a company owned by iFinex. But we have no clear visibility through which we can verify that there is USD for every USDT issued.
But still USDT is a reliable stable coin among all stable coins revolving in the market. There is no guarantee about how long it will retain his reliability.

USD for every USDT means that the government will have to rapport with the cryptocurrency industry. These two entities doesn't seem to work in harmony, so that dichotomy will still be seen at any time.
As of USDT, the uncertainty behind it has been in existence for long but yet people are using it and it's cap is rising on daily.

[WatChe]

I can agree with you, buddy. Although they said that each USDT is backed by USD, we don't really know the truth. There is no regular update from the company about this information. So, we mostly just guess it. But if we look at the market cap of USDT, we can assume USDT is quite trustable. USDT is the most stablecoin used by all crypto users.

I use USDT only when I have to withdraw my crypto through exchange otherwise my preference is to keep my crypto in my open source wallet. There is no guarantee that for how long a stable coin will remain stable as we see them collapsing very often, remember UST crash?

https://www.coindesk.com/learn/the-fall-of-terra-a-timeline-of-the-meteoric-rise-and-crash-of-ust-and-luna/

[Peter90]

But we have no clear visibility through which we can verify that there is USD for every USDT issued.

Not true
What's backing USDT? Tether Reserves Breakdown

Although they said that each USDT is backed by USD, we don't really know the truth. There is no regular update from the company about this information. So, we mostly just guess it.

Not true
What's backing USDT? Tether Reserves Breakdown


We know that USDT is not backed 1:1 by $
USDT is backed by several financial assets, whose value changes over time

[JISAN]

I can agree with you, buddy. Although they said that each USDT is backed by USD, we don't really know the truth. There is no regular update from the company about this information. So, we mostly just guess it. But if we look at the market cap of USDT, we can assume USDT is quite trustable. USDT is the most stablecoin used by all crypto users.

I use USDT only when I have to withdraw my crypto through exchange otherwise my preference is to keep my crypto in my open source wallet. There is no guarantee that for how long a stable coin will remain stable as we see them collapsing very often, remember UST crash?

https://www.coindesk.com/learn/the-fall-of-terra-a-timeline-of-the-meteoric-rise-and-crash-of-ust-and-luna/

USDT is one of the best stable coins. BUSD was once a popular stablecoin because it was a Binance coin, but many people were afraid to use it until Binance delisted it.  Next to USDC is USDC. These two stablecoins are in the market with huge market caps. But I always use USDT and prefer USDT even when holding stablecoins. But sometimes I use USDC. but binance again pushing FDUSD but i am not interested on it yet