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Introducing the very first Negative Tax token on the Binance Smart Chain. Do not miss out.

Binance (CZ) is misleading users about its regulation stance and user asset storage (Part 3)

Understanding market sentiment. "Crypto is dead" doesn't feel "accurate" compared to 2018's market bottom. The bottom will be in when it feels like the end of crypto is on its way - if you've been around since 2017, this feels far far away from "the end of crypto" is coming.

SuperSqueeze Token (SQZ) – PinkSale presale launches soon- SQZ and BNB rewards – Liquidity LOCKED – Audited – Integrated Play2Earn games – NFT Marketplace LIVE – Weekly giveaways and rewards – SuperSqueeze events coming soon.

StealthBUSD | 7% BUSD Rewards | LP locked in PinkSale for 90 days | Community-Based Project | Come Join us and be Strong like us

$BUBCAT (Bubble Tea Cat) Fairlaunch on 28 November 2022 at 00:01 EST

SatoshiSwap Weekly Update - 27 November 2022

Wrapped tokens & bridges as mixers and/or location of underlying? (wBTC, BUSD, USDT, etc)

r/CryptoCurrencySee Post

Proof of reserves and central exchanges

Kuwait Inu | Give yourself a small chance, the Kuwait Inu family aims to win! | Soon we will announce a big announcement a big surprise!

Why do people trust Binance if over 50% of their reserves are in BUSD, BNB and USDT?

r/CryptoMoonShotsSee Post

Santa Floki Inu - Elon Tweeded Us. Elon Musk tweeted on December 25 last year

r/CryptoMarketsSee Post

Do you think stablecoins will lead crypto mass adoption?

StealthBUSD | 7% BUSD Rewards | LP locked in PinkSale for 90 days | Community-Based Project |

Big Crypto Game - One of our games, Crypto Legions v2, was the longest lasting play-to-earn NFT game on the BSC network in 2022 with a lucrative ROI for players - Verified Contract

Binance introduces a $1 billion Web3 Recovery Fund

You Should Not Trust Coinmarketcap For Accurate Information and DYOR. Binance Owns Them and Manipulates Their Data

r/CryptoCurrencySee Post

Nova <-> Poly-gon Moons Bridge

r/CryptoCurrencySee Post

Nova <-> Polygon Moons Bridge

Monopolinu | $MINU | Greatest Board Game of All Times Now with Crypto | P2E Game Development in Progress | Buy Properties with MINU and Play against each other | Low initial marketcap | Techrate Audit | NFT Specials | 2% auto LP and 1% reflection

If Binance fails you can still redeem your BUSD for USD - but there is a catch!!!

Looking at Binance's Role/Place in the FTX Fallout and Crypto Market as a Whole

Monopolinu | $MINU | Greatest Board Game of All Times Now with Crypto | P2E Game Development in Progress | Buy Properties with MINU and Play against each other | Low initial marketcap | Techrate Audit | NFT Specials | 2% auto LP and 1% reflection

r/CryptoCurrencySee Post

Binance and Paxos's BUSD: High Quality Reserves, Audits, and Regulation

r/CryptoCurrencySee Post

What is BUSD?

r/CryptoMoonShotsSee Post

Monopolinu | $MINU | Greatest Board Game of All Times Now with Crypto | P2E Game Development in Progress | Buy Properties with MINU and Play against each other | Low initial marketcap | Techrate Audit | NFT Specials | 2% auto LP and 1% reflection

Monopolinu | $MINU | Greatest Board Game of All Times Now with Crypto | P2E Game Development in Progress | Buy Properties with MINU and Play against each other | Low initial marketcap | Techrate Audit | NFT Specials | 2% auto LP and 1% reflection

Monopolinu | $MINU | Greatest Board Game of All Times Now with Crypto | P2E Game Development in Progress | Buy Properties with MINU and Play against each other | Low initial marketcap | Techrate Audit | NFT Specials | 2% auto LP and 1% reflection

Monopolinu | $MINU | Greatest Board Game of All Times Now with Crypto | P2E Game Development in Progress | Buy Properties with MINU and Play against each other | Low initial marketcap | Techrate Audit | NFT Specials | 2% auto LP and 1% reflection

Monopolinu | $MINU | Greatest Board Game of All Times Now with Crypto | P2E Game Development in Progress | Buy Properties with MINU and Play against each other | Low initial marketcap | Techrate Audit | NFT Specials | 2% auto LP and 1% reflection

worried about stables (usdc and busd) and crypto situation

LUNA MANIACS | Launched few hours ago | Liquidity locked 400 days | Low marketcap | Audited | CMC-CG Imminent | Dev previous project - did 200X

Question about different non-custodial software wallets

r/CryptoCurrencySee Post

You are their ‘exit liquidity’

r/CryptoMoonShotsSee Post

LUNA MANIACS | Presale Ended | Launching on PancakeSwap Monday 21-11 | Low tax and Low Marketcap Around 120K | LP Locked 400 days

r/CryptoCurrencySee Post

Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books.

r/CryptoMoonShotsSee Post

Sculptor Finance $SCULPT | Fair Launch was on Nov 1st| Category: Lending / Borrowing | Audited| Vibrant Community | Low Cap Gem

r/CryptoMoonShotsSee Post

SuperSqueeze Token (SQZ) – PinkSale presale launches on the 20th of Nov - SQZ and BNB rewards – Liquidity LOCKED – Audited – Integrated Play2Earn games – NFT Marketplace LIVE – Weekly giveaways and rewards – SuperSqueeze events coming soon.

r/CryptoCurrencySee Post

FTX attacker continues swapping tokens; exchanges $7.95M BNB for BUSD, ETH

r/CryptoCurrencySee Post

How to store my digital currency?

r/CryptoCurrencySee Post

FTX Exploiter Swaps Thousands of Stolen BNB Crypto Tokens Into Ether, BUSD

r/CryptoCurrencySee Post

How I lost all my assets

r/CryptoCurrencySee Post

Is USDC -- not USDT -- the REAL stablecoin risk?

r/CryptoMoonShotsSee Post

Bullish Chart | Launch like old times before | Just beginning

r/CryptoMoonShotsSee Post

Bullish Chart | Stealth launch like old good times | New strategy for slow moon

r/CryptoMoonShotsSee Post

LUNA Maniacs | Pre-sale is live on Pinksale | BIGGEST BUY and RANDOM BUY Contest live | Soft Cap Already Filled | Liquidity in BUSD | Dont miss it

r/CryptoMoonShotsSee Post

AstroGrow - AstroGrow Allverse Ecosystem Bridging Metaverse & Universe - AstroGrow Dashboard dApp and Swap interface - Launching Now

r/CryptoMoonShotsSee Post

CaishenKin | Private Sale On Pinksale Starts on 18 Nov 1Am UTC | Staking System | Busd Rewards |

r/CryptoCurrencySee Post

If Binance went down, can we see a depegging of all tokens on BNB Smart chain?

r/CryptoCurrencySee Post

AMA with MetisDAO!

r/CryptoCurrencySee Post

Binance, BitMEX and KuCoin have delisted FTX Token pairs from their crypto exchange platforms

r/BitcoinSee Post

Join now and stand a chance of winning a share of $10,000 in BUSD!

r/CryptoCurrencySee Post

Bitcoin soft wallet option for someone who DCAs a miniscule amount on binance auto-invest

r/CryptoCurrencySee Post

Which coins are truly decentralized?

r/CryptoMoonShotsSee Post

Sweedish Degen Cockswap | Real utility Degen | Swap is live | Stealth launching soon | Gem of the Year

r/CryptoCurrencySee Post

Binance to Remove Trading Pairs for FTX Token—Except With Stablecoin BUSD

r/CryptoMoonShotsSee Post

$LUNC is going to the Moon - BABOONA BANANA

r/CryptoCurrencySee Post

Questions about Binance's Solvency/Safety

r/CryptoMoonShotsSee Post

Reindeer BUSD Staking| Launched November 13| Earn up to 4% Daily Staking BUSD | Unstake Anytime| Developer of Baby Reindeer Token

r/CryptoCurrencySee Post

No BUSD isn't regulated by NYDS or 100% issued by PAXOS. There are 2 BUSD! One issued by PAXOS and One by Binance. They say on their own website!

r/CryptoMoonShotsSee Post

Freezex Private Sale

r/CryptoMoonShotsSee Post

Freezex Private Sale

r/CryptoCurrencySee Post

Binance slashes (again) APR for stablecoins (and a look at this year's interest)

r/CryptoCurrencySee Post

You guys are aware that Binance will go down like FTX some day, aren’t you?

r/CryptoCurrencySee Post

!! BUSD earn interest lowered to 6% !!

r/CryptoMoonShotsSee Post

SuperSqueeze Token (SQZ) – PinkSale presale launching soon – Team fully DOXXED – Price squeezing technology – SQZ & BNB rewards – Liquidity LOCKED – Audited – APY NFT marketplace live – Integrated Play2Earn games – Huge 1000x potential!

r/CryptoCurrencySee Post

Binance Data Shows 40% of Major Holdings Are BUSD, BNB

r/CryptoCurrencySee Post

Where to move crypto to safety IF stablecoins are in danger?

r/CryptoMarketsSee Post

Countering $BUSD FUD

r/CryptoMoonShotsSee Post

SuperSqueeze Token (SQZ) – PinkSale presale launching soon - SQZ & BNB rewards – Liquidity LOCKED – Audited – Integrated Play2Earn games

r/CryptoCurrencySee Post

USDT vs USDC (In-Depth Review)

r/CryptoCurrencySee Post

Binance with Full Transparency!

r/CryptoCurrencySee Post

Lil bit of optimism: If BTC, ETH and ADA reach their previous all time high values...

r/CryptoCurrencySee Post

If we were to draw an equivalency to the bear market of EOY 2018 (almost exactly 4 years ago), my gut feeling is that we are at 2018's 5,000-5500 USD range and could still be on the way down. Bullish and Bearish scenarios in this thread

r/CryptoCurrencySee Post

Don't panic but maybe panic as USDT starts to depeg, -0.5% now vs BUSD

r/CryptoCurrencySee Post

There is absolutely no good reason for you to have any of your hard earned money on Binance or any other exchange right now unless you are actively trading it. If you are invested, get it out of the exchanges. Binance's "SAFU fund" is comprised of only BTC and BNB, no cash.

r/CryptoCurrencySee Post

Am I the only one who thinks Binance SAFU fund is not really safe?

r/CryptoCurrencySee Post

Stablecoins depegging, get ‘em in check

r/CryptoMoonShotsSee Post

Introducing MDB | Passive Income Ecosystem | The Most Undervalued Project on BSC | Over $4million in Backing Funds | Xenia 2.0 Launching This Month | Stake, Farm, Earn | Simple To Use Passive Income Generation

r/CryptoMoonShotsSee Post

Christmas Coin | Live Now | Strong Community | Huge Marketing Ahead |

r/CryptoMoonShotsSee Post

Infinity Protocol | Presale of 100 BNB filled | KYC & Audited | Low cap 250 MC | Cmc & Cg Listing Incoming | 365% APY staking platform |

r/CryptoMoonShotsSee Post

Ado.Network aims to increase adoption by connecting businesses with the blockchain technology.

r/CryptoMoonShotsSee Post

FlokiXmas | Presale of 100 BNB filled | KYC & Audited | Low cap 120 MC | Cmc & Cg Listing Incoming | x1000 this XMAS

r/CryptoCurrencySee Post

Important warning: Traders on FTX and FTT holders, please be very cautious and protect your money

r/CryptoCurrencySee Post

Binance is unloading their FTT holdings

r/CryptoMoonShotsSee Post

Crab Strike ($CST)- The First fully decentralized P2E idle game that offers a fun and exciting experience | Listed on Cg & Cmc | Safu Contract | Kyc'ed and Audited | 3% Rewards in BUSD | Join us now

r/CryptoCurrencySee Post

Can we get some of the coin limits for this sub changed?

r/CryptoCurrencySee Post

Why is there still so much money in stablecoins given the interest rate environment?

r/CryptoMoonShotsSee Post

StellarPad | An user-friendly token presale launchpad platform where you can create your own token presale with reflections and safety measures with a few clicks!

r/CryptoMoonShotsSee Post

Sculptor Finance $SCULPT | Fair Launch was on Nov 1st| Category: Lending / Borrowing | Audited| Vibrant Community | Low Cap Gem

r/CryptoMoonShotsSee Post

The next level of Wealth Creation. Stake and earn up to 1.5%* per day in BUSD + MXST.

r/BitcoinSee Post

. I am hoping to sell my 1 BTC for 25,000 BUSD. I subscribed to the BTC Dual Investment “Sell High” product with a $25,000 Target Price to sell BTC. At the Settlement Date, the BTC price is $25,500. How much will I receive at the end?

r/CryptoCurrencySee Post

Have BUSD and ETH just sitting in my wallet. How to invest?

r/CryptoMoonShotsSee Post

Shoshin inu is an innovative 3D Bowling simulator based on an BNB blockchain, providing a new gaming experience. Our vision is to create a strong Web 3.0 user-generated BNB community, with its own 3D Game Simulator and play-to-earn ecosystem accessible to all

r/CryptoCurrencySee Post

Play Crypto WODL for a Share of $10,000 in BUSD | Binance

r/CryptoCurrencySee Post

BUSD vs USDC; Which One is SAFER to Hold?

r/BitcoinSee Post

Slow banks but scared to hold fiat or stablecoin on exchange

r/CryptoMoonShotsSee Post

BabyMiniFootball | Private Sale Live | Raised Over 5 BNB | After Launch - Huge Callers + CG + CMC Listinng

r/CryptoMarketsSee Post

nice project

r/CryptoCurrencySee Post

Alleged insider trading surrounding osmosis listing on Binance

Mentions

BUSD on binance chain is not issued by paxos , only eth chain is issues by paxos.

Mentions:#BUSD

You have no idea, really. If USDT goes down everything goes down. Everything. USDC and BUSD would be next to be bombarded with FUD. People would be reeeeaaaally scared Every single CEX would be offline for a week easy. Or at the very least impossible to login in for vast majority of people. Every single DEX and second tier CEX would run out of business instantly We would go back to trade against BTC ... so 2014/2015 prices would be on the table within days

BNB's supply has decreased since Aug 2021 and BUSD is issued by Paxos. Binance has also hired Mazars for an independent audit. So I don't actually know wtf you are talking about.

Mentions:#BNB#BUSD

I suspect Binance autoconverting USDC was actually a move against Tether. Binance probably couldn’t delist Tether without rocking the whole system to its core. BUSD and USDC slowly choking Tether out via a controlled burn is probably the only way safe way to rid the system of it. Very smart play. Paxos is the only credible Stablecoin issuer in my opinion now that Circle’s inappropriate relationship with DCG and FTX is known.

I can't give any guarantees, but USDP issued by Paxos seems legit. They are regulated and regularly audited and have the USD reserves 1:1. BUSD seems fine as well because they use Paxos as a custodian. USDC does not hold USD 1:1, they take some of the cash and buy US bonds with it to earn yield. From my understanding they are still much safer than USDT.

This is why I 125x leverage long BUSD. If Tether collapses everyone is going to migrate to BUSD and it will pump in price. Big brain move right here

Mentions:#BUSD

#Tether Pro-Arguments Below is an argument written by Nostalg33k which won 3rd place in the Tether Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Tether, criticized but stable. > > &#x200B; > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > &#x200B; > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > &#x200B; > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > &#x200B; > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > &#x200B; > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiec/top_coins_tether_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds.

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

#Tether Pro-Arguments Below is an argument written by Nostalg33k which won 3rd place in the Tether Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Tether, criticized but stable. > > &#x200B; > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > &#x200B; > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > &#x200B; > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > &#x200B; > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > &#x200B; > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiec/top_coins_tether_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds.

Binance delisted a bunch of stable coins when the competition for USDT became to strong and auto-converted their customers holdings into BUSD. This was done is September and included USDC. [source](https://www.coindesk.com/markets/2022/09/06/binance-ditched-a-bunch-of-stablecoins-even-a-newly-banished-issuer-was-ok-with-it/)

#Tether Pro-Arguments Below is an argument written by Nostalg33k which won 3rd place in the Tether Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Tether, criticized but stable. > > &#x200B; > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > &#x200B; > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > &#x200B; > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > &#x200B; > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > &#x200B; > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiec/top_coins_tether_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds.

nope, binance auto converts it on the current price. You can literally hold BTC and spend it instantly. You dont need to do it with Tether BUSD or whatever.

Mentions:#BTC#BUSD

So every USDC cou deposited onto Binance will be converted to BUSD 1:1 and then you can use the BUSD to purchase the coins you like on the platform. When it comes to withdrawing, you can still withdraw USDC which shall be converted from BUSD at ratio 1:1

Mentions:#USDC#BUSD

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

I use BUSD. But when you withdraw make sure you have native tokens on ethereum network... everything else is pegged and hence can go to zero. BUSD on eth network is backed by PAXOS

Mentions:#BUSD

Binance allows you to deposit USDT. Convert it to BUSD, then withdraw USDC. On withdrawal, your BUSD will be automatically converted to USDC 1:1

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

If you want to use Binance you can swap USDT to BUSD and then withdraw it as USDC 1:1. https://www.binance.com/en/support/faq/what-is-busd-auto-conversion-and-how-to-deposit-and-withdraw-usd-stablecoins-on-binance-7a2571c63d97459ab4e44a8dd01cf7e8

Just swap to BUSD on eth network in Binance

Mentions:#BUSD

BUSD is safe but only on erc20.

Mentions:#BUSD

Swap to BUSD but use ethereum network.. since that is the one that is issued by paxos.. rest is pegged... and can go to zero if binance dies. You can then withdraw that BUSD to an appropriate hardware wallet. I posted about it a few days back. https://www.reddit.com/r/CryptoCurrency/comments/z2yz7e/if\_binance\_fails\_you\_can\_still\_redeem\_your\_busd/

Mentions:#BUSD

IMO as far as stable coins safety go USDC ≈ BUSD > USDT. If you want to do the swap on CEX with low fees you could use Nexo. They allow deposits of USDT using most ERC20 or Matic, conversion to USDC with 0.1% fee (same as Binance) and one free withdrawal on ERC20 (more if you hold their token, plus any amount of free withdrawals if you use an L2 chain).

#Tether Con-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/z8aq27/daily_general_discussion_november_30_2022_gmt0/).

You can also swap for BUSD, will be easier since you have Binance and probably cheaper. Before you worry about BUSD, it's issued by Paxos and regulated by the US.

Mentions:#BUSD

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

I believe sub $10k is still in the cards. The macro economics are going to be rough in 2023, and there are still bad players in the crypto space that need to go down. USDT losing is the next big event. CZ is very eager to have BUSD pick up the void by USDT. Imagine if $65 billion goes to $0.... that will be epic.

Mentions:#USDT#BUSD

My concern is how BUSD is backed. If I put in 1 USD, and get 1 BUSD, I want to make sure I get 1 USD back when I want to. It is as simple as that. This is the proof of reserves I am concerned about.

Mentions:#BUSD

The APR calculations are tangential. I just want to make sure my BUSD is secure. So, as suggested by OP, you agree that 1 BUSD is not 1 USD? If you have better information on how it is backed, I am open to hearing it.

Mentions:#BUSD#OP

Binance will want to take advantage of that vacuum with its BUSD.

Mentions:#BUSD

CZ has been way more vocal than I expected during this debacle and his company stand to gain the most from the fallout. I wasn't a fan of Binance before (BnB and BUSD rub me the wrong way) and this hasn't improved the way I view them.

Mentions:#BUSD

However the rate is calculated, it does not change the fact that 1 BUSD =/ 1USD. CZ says 1 BTC = 1 BTC. Fine. But 1 BUSD =/ 1 USD. The OP comment made that clear. Do you have more information about how BUSD is backed that challenges that comment?

Mentions:#BUSD#BTC#OP

> high APR for something relatively stable and secure. Your comment provided the missing context. Now starting to re evaluate position on Binance and BUSD in particular. 1 BUSD /= 1 USD. Time to off ramp ... > > Do you think BUSD might fall before Tether because relatively Bruh, you do know that 200% APR is only for Dual Investment (options) which is not capital guaranteed. That high APR you are seeing also applies the same for BTC, ETH, etc. Dual Investment. Geez the amount of information, lack of any research and click baits on this sub is astounding

Mentions:#BUSD#BTC#ETH

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

Thanks for the clarification. Thought that BUSD was relatively safe because of Paxos. But, then saw 200% APY in [Binance app](https://i.redd.it/sl2cz0btns2a1.jpg). Started asking myself why would Binance need to offer such a high APY for something relatively stable and secure. Your comment provided the missing context. Now starting to re evaluate position on Binance and BUSD in particular. Time to off ramp ...

Mentions:#BUSD

Win BUSD for buying Crypto! Sounds like a winner to me.

Mentions:#BUSD

I'm a BUSD bagholder.

Mentions:#BUSD

I trust only DAI. USDT, BUSD, and USDC can all freeze your assets.

$28B worth of BUSD is operated by Paxos, backed by US treasury bills; however, these treasury bills are NOT all paid for by Binance. Paxos rents these treasury bills from other mutual funds, and Binance only pays the operator+insurance fees. The fact is that the treasury bills are probably not even held by Paxos as collaterals. They are held at respective mutual funds. The only thing that Paxos has are letters of assurance, verified by external auditors.

Mentions:#BUSD

Whats wrong witj BUSD ? its backed by Paxos....

Mentions:#BUSD

Is this Binance's own wrapped version of BUSD? Because if not , the real BUSD is issued by Paxos and regulated by the New York Department of Financial Services. I doubt they would let the real BUSD go under.

Mentions:#BUSD

BUSD is issued and audited by Paxos, fully regulated in the US. The B for Binance at the start is just branding, it has very little to do with Binance besides that.

Mentions:#BUSD

>Public blockchain data reviewed by CNBC showed a balance of around $1 billion in Binance’s own BUSD stablecoin. I mean, we don't see the fundamental problem here? They are keeping the balance in BUSD. In case, Binance collpases (because it is when the fund is supposed to be used), I don't think BUSD will be worth 1$. You can't keep your emergency reserves in your own token or stablecoin. Even BNB shouldn't be used for emergency funds. Hence, in the collpase, the amount may not be 1$ but rather 3-4c.

Mentions:#BUSD#BNB

None of that. USDT isn't stable enough for me but I do have USDC on middlewares like SpoolFi and BUSD on Binance. Might look into DAI as well. These seem the safest.

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

I'm trying to keep a good chunk of fiat in stablecoins in my own wallet to self-bank. What do you guys think is the most reliable stablecoin and why? I'm kinda leaning towards splitting it up three ways between USDT, USDC and BUSD. Then if one shits the bed, I haven't lost everything.

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

Hmm no, you're missing the point. I can go everywhere to trade my ice cubes for something else, for ice cream or beer, but theoretically, only Binance will cash my BUSD. I'm talking from a common sense perspective here, not a crypto perspective.

Mentions:#BUSD

If you already have your coins in stables, you could redeem BUSD directly from Paxos who issues them. You could do the same with USDT/USDC but you'd have to be a pretty good size I heard like 7+ figs, and too bad I can't verify that since my size is not size.

Did you read the OP? Reserves show half its holdings are its own tokens. 23bn in BUSD and 6.4bn in Binance Coin.

Mentions:#OP#BUSD

Isn't BUSD backed by Paxos which is backed by gold and fully law compliant?

Mentions:#BUSD

>>(Corrects first and second paragraphs to reflect that holdings are only a partial list, and clarifies that BUSD is issued by Paxos.) Article says its a partial list but somehow larpers on twitter can come out with a conclusion that it's 10%. Amazing maths there.

Mentions:#BUSD

Nice USDC and BUSD seem to be US regulated and audited stablecoins and it makes sense people are disposing Chinese USDT

The 10% isn’t BUSD, it’s Binance Token. LOL

Mentions:#BUSD

Funny that they named their stablecoin busted.. I mean BUSD.

Mentions:#BUSD

Fifth most valuable coin if you take away the 3 stablecoins (BUSD USDT USDC)

It is bullshit. BUSD is issues by Paxos that is the most regulated stable coin. BUSD is the safest stable coin because of this.

Mentions:#BUSD

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

BUSD is a stable coin. This tweet is bullshit.

Mentions:#BUSD

By definition BUSD is NOT an asset for Binance. It is 100% a liability. Are they counting the cash backing BUSD and then BUSD both as assets? That is double counting. I am no accountant, but that looks like blatant fraud to me. I thought reserves are supposed to be assets and not liabilities? What a cluster-fuck-shit-show this has turned out to be.

Mentions:#BUSD

Stop posting half truths to stir up dookie because you bored. BUSD is issued by Paxos, one of the most heavily regulated stables there is.

Mentions:#BUSD

You can keep stablecoins in noncustodial wallets like every other crypto. I use Trust Wallet to store USDC and BUSD while I have EEUR on Keplr ready to be deployed in the market. USDC, BUSD and EEUR are my favourite stablecoins because they're fullt- collateralized and audited.

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

You must not have looked hard for proof. BUSD isn’t minted by them, PAXOS manages it and has probably the best proofs of backing in the business.

Mentions:#BUSD

Ohh, The reason for Binance volume increase is their 0 fee on BTC/BUSD and ETH/BUSD. You can see the overall volume on all CeXes and you won't see more increase except Binance.

Mentions:#BTC#BUSD#ETH

So don’t accept rival stablecoins? forcibly converting user assets is a huge gray area. What happens if BUSD goes under (paxos only issues the ETH version, not BSC version)? People who deposited other stables would get screwed.

Mentions:#BUSD#ETH

Dont really care, I want the card with 2% cashback and some % on the BUSD flexible stake. The rest is DCA and withdrawals. Ill never have a lot of funds on there anyways. All that black and white commenting is tiresome

Mentions:#BUSD

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

Wonderful, so I have enough money to buy almost 3 BTC with my BUSD saved from last bull run

Mentions:#BTC#BUSD

>BUSD is not issued by Binance. but who own Paxos and why Binance cannot simply issue BUSD on Binance chain?

Mentions:#BUSD

I have been waiting to BUSD reach $2 for almost 2 years and never moved. Stay away from that shitcoin.

Mentions:#BUSD

For example, when you interact with a dApp to swap BUSD to CAKE, you give permission to the dApp to get BUSD from your wallet and give you equivalent CAKE. Usually, the instruction we sign is that "I allow this smart contract unlimited access to my BUSD". But when you revoke permission, you remove the access. There are a number of Apps that you can use to revoke permission. The most trusted are DeBank, Beefy Finance, etc

Mentions:#BUSD#CAKE

I trust USDT more then BUSD, USDC. We kinda have to trust Binance if they go down we all go down

BUSD is also owned by a separate entity, not binance

Mentions: