[Tersaik]

Hello friends, I was wondering what currencies that have parity with the dollar are currently "safe" to simply keep money in
Im currently using USDT and BUSD

[___GS___]

Hello friends, I was wondering what currencies that have parity with the dollar are currently "safe" to simply keep money in
Im currently using USDT and BUSD

USDT and USDC (maybe DAI) for saving.

[Kitaz]

Hello friends, I was wondering what currencies that have parity with the dollar are currently "safe" to simply keep money in
Im currently using USDT and BUSD

Always a risk but the way I see it if any of those 2 pegs collapse your stored Bitcoin will lose 90% of its value so it's worth locking in the price, not sure about locking it in now but few months back it was certainly worth it

[Upgrader]

BUSD is probably the safest bet as far as stablecoins go.

Don't go for anything that promises over 5% APY.

[MavenGradle]

BUSD is probably the safest bet as far as stablecoins go.

Don't go for anything that promises over 5% APY.

That's funny because BUSD is currently offering 10% APY in flexible savings.

[Upgrader]

That's funny because BUSD is currently offering 10% APY in flexible savings.

Was referring to elsewhere, Binance is trustable imo.

[Tersaik]

That's funny because BUSD is currently offering 10% APY in flexible savings.

then it is not safe?

Jesus I just want to save my money and try to be safe :(

[Truth]

There is a saying, not your keys, not your crypto

These stable coins are pretty strange, some can be frozen.

If you want USD as stable, just hold the real thing imo in a insured bank/brokerage

[Tersaik]

There is a saying, not your keys, not your crypto

These stable coins are pretty strange, some can be frozen.

If you want USD as stable, just hold the real thing imo in a insured bank/brokerage

I cant, my country does not allow usd and the currency on my country is sh!t with inflation :(

[Truth]

I cant, my country does not allow usd and the currency on my country is sh!t with inflation :(

alright, well my tip is diversify

USDC, USDB, DAI, etc

So if one fails you dont lose 100%

GL

[shreder]

alright, well my tip is diversify

USDC, USDB, DAI, etc

So if one fails you dont lose 100%

GL

What if they all fail? 😥

[EziNet]

BUSD and USDC safe for now.

[Raymond Reddington]

That's funny because BUSD is currently offering 10% APY in flexible savings.

It does offer 10% but only on the first 2k. So it isn't really akin to UST/USDD's 20%+ APY.
If you're looking to stake six figures, you'll only get an average of 1.3% APY and even some banks (non-US) offer better yields than 1.3% on savings banks/term deposits.

On-topic, I would recommend OP to hold a combination of a few stablecoins, including USDT, BUSD, USDC.

[xVulnerable]

I don't like the idea of holding stable coins long term after the UST disaster.
BUSD and USDC seem to be the safest stable coins but what if one of them depegs? What if Binance fails as an exchange due to one reason or another? Is our money still SAFU? What if USDC is not actually backed? There are a lot of things that can bring any stable coin down. For now if I want fiat, I'd rather hold the big bucks in the bank, and use stable coins as a temporary solution.

[SUI-3183372]

Just use USDC if you're not after incentives or anything.

They're the only stable that's properly backed in a manner where if shit hits the fan, you're still getting your money out.

---

What is USDC is not actually backed?

USDC verifies reserves weekly and only keeps very liquid reserves. Cash and "Short-duration U.S. Treasuries".
You can choose to not to believe them, but they're the only stable that does this.

(BUSD is very liquid too, just not as transparent with reserves afaik)