I don’t know about everyone else in here, but Tether scares me. I have no idea how anyone using USDT sleeps well at night knowing that their stablecoin of choice is literally under subpoena by the New York Attorney General. That’s such a huge blow to the crypto community, but we’re the one’s to blame since we’ve put up with USDT’s nonesense for so long. It’s time to make the switch and move on from these shady practices. I for one only use USDC when transitioning from Fiat to Crypto - or vice versa. There’s no point in risking my money with anything else, and USDC is verified to have assets backing it. Until USDT cleans up its act, the best coin to use is USDC.
Now that’s what I’m talking about. A stable coin that’s actually staying put at 1.00. Just a buck! Finally, a coin that isn’t fluctuating like Tether has done so many times in the past. Not too long ago, USDT went all the way below .80 cents. That was a disaster for the entire Stable Coin movement, and it’s refreshing to see USDC holding steady. These coins are our best bet for a crypto-fiat option because we can’t easily convert crypto to useable money. By having these options, we can park and move our crypto into dollar backed coins to then move off the exchange and into our bank accounts. This is the adoption that needs to be celebrated.
USD coin is another example of why stable coins aren't going work. They fluctuate way too much to ever be a good transitional currency. How can you trust your funds in a coin that moves 2-4% in a day? You can't. This isn't how fiat currencies operate and this is a huge hurdle for the adoption of cryptocurrencies. We may have to wait for a new type of stablecoin. The only viable stable coin that I can think of is DAI.
USDC is a awesome coin because you can trade to it on Binance and send it directly to Coinbase. What other function does it have than streamlining the process of cashing out or in?
Interesting, sounds a lot like tether. Maybe it will catch on and will be available in exchanges as an alternative. Right now, I don't like to rely solely on USDT for my needs of keeping some cash on exchanges.
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| Currency | Price, USD | 24h | |
|---|---|---|---|
| 1 | Bitcoin | 10 355.799 | 0.17% |
| 2 | Ethereum | 194.278 | 3.84% |
| 3 | XRP | 0.263 | 0.25% |
| 4 | Bitcoin Cash | 307.636 | 0.94% |
| 5 | Litecoin | 71.480 | 1.47% |
| 6 | Tether | 1.005 | 0.24% |
| 7 | EOS | 4.092 | 1.98% |
| 8 | Binance Coin | 20.862 | -0.76% |
| 9 | Bitcoin SV | 123.990 | 2.34% |
| 10 | Monero | 75.562 | 1.14% |
