Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: Daiana on April 03, 2024, 07:28:27 PM
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I'm new to crypto and I want to learn more about stablecoins. I'm curious about which stablecoins people use and why.
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I'm new to crypto and I want to learn more about stablecoins. I'm curious about which stablecoins people use and why.
Tether USDT is by far most popular stablecoin and it has biggest marketcap and volume from all other stablecoins.
However, I don't consider this to be the best stablecoin since tokens can be frozen at anytime and for any reason.
I would not suggest any stablecoins long term, they should be used for trading only.
List of most stablecoins is available:
https://www.coingecko.com/en/categories/stablecoins
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Thanks for the link! Its just that I am tired of the centralization, my bank is quite annoying with all the questions and restrictions for me with my own money.. I like that Dai is a dao..
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I'm new to crypto and I want to learn more about stablecoins. I'm curious about which stablecoins people use and why.
A stablecoin is a coin whose price is equivalent to the dollar, while the price of other cryptocurrencies fluctuates a lot, but its price is stable. Currently USDT and USDC are the most popular stablecoins. USDT in particular is heavily used. Because there are many coins listed on the USDT pair. so you can use USDT which you can easily use for cashout, trading etc...
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Tether USDT is by far most popular stablecoin and it has biggest marketcap and volume from all other stablecoins.
However, I don't consider this to be the best stablecoin since tokens can be frozen at anytime and for any reason.
I would not suggest any stablecoins long term, they should be used for trading only.
Tether is the largest stablecoin provider in the crypto market. Their USDT is very popular and has marketcap of over $100B. I think that's enough for us to trust and use USDT. Tether has also been accused of reserve proof, but no one has been able to charge Tether, and Tether is constantly improving the quality of its reserve proof to strengthen user confidence.
Tether is not a public blockchain, Tether only uses smart contracts to mint and burn USDT. As an ordinary investor, we also do not need to worry too much about the possibility of account freezing. I haven't even thought about it in years of owning USDT.
USDC from Circle may be a pretty good alternative, but it has also been depegged quite seriously, so I still choose USDT for my balance when DCA crypto.
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Tether is not a public blockchain, Tether only uses smart contracts to mint and burn USDT. As an ordinary investor, we also do not need to worry too much about the possibility of account freezing. I haven't even thought about it in years of owning USDT.
What the heck are you talking about? :o
I never said that Tether is a blockchain, it is a token built on public blockchains, and I can almost guarantee it will crash or be banned one day, maybe sooner than you think.
If you want to keep this tokens go ahead it's your risk, but I think you also trust the government, and you don't care about your privacy, so I will just do the opposite thing from you ;)
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I'm new to crypto and I want to learn more about stablecoins. I'm curious about which stablecoins people use and why.
I only have USDT now and to answer your question why? because this is the only Stable coin that I trusted , at least for couple of years now since i am not familiar nor needed to change,
all of my conversion is to usdt and even if there are some issues attached to this coin yet this is what I wanted and will always trust.
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USDC from Circle may be a pretty good alternative, but it has also been depegged quite seriously, so I still choose USDT for my balance when DCA crypto.
USDC depegged but its price increased back not long at all and it became $1 back. What happened to USDC can also happen to USDT in a way it can depeg. USDC has been competing with USDT at that time but after it depeg, many people converted their USDC to USDT which also helped USDT marketcap to increase while USDC marketcap decreased. But if we are talking of the better one, both are better but some people will be thinking of what that had happened in the past, not knowing it can happen to USDT also.
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USDC depegged but its price increased back not long at all and it became $1 back. What happened to USDC can also happen to USDT in a way it can depeg. USDC has been competing with USDT at that time but after it depeg, many people converted their USDC to USDT which also helped USDT marketcap to increase while USDC marketcap decreased. But if we are talking of the better one, both are better but some people will be thinking of what that had happened in the past, not knowing it can happen to USDT also.
Yeah, USDC went through a difficult period but quickly recovered and returned to compete with USDT in terms of trading volume, even at times USDC surpassed USDT in trading volume, showing the interest of large and positive capital flows towards USDC, while accumulating and safe money flows towards USDT.
However, the USDC's de-peg event also caused many investors to worry and lose confidence in this stablecoin, including me. So I still decided to keep my stablecoins in USDT instead of allocating them to both USDC as in bullrun the 2021.
- Tether Under Threat as USDC Tops it In Transaction Volume with $456 Billion? (https://www.ccn.com/news/crypto/tether-under-threat-usdc-tops-transaction-volume)