Is it safe to keep money in digital dollars (USDT, BUSD)?

San4osss

San4osss

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Hello, everyone!

Today I came across an article that "storing funds in USDT is stupid," says trader and analyst Peter Brandt, who said it on Twitter.

In his opinion, keeping capital in USDT is as risky as keeping in "Nigerian keychains."
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Hehe purpose of tether is to equalize its value as a dollar. As a fiat. If you have come asking why is it stable. Whats better? Holding your fiat on a bank with such 1% interest yearly or hold usdt which you can have approximately 12% interest when you hold and earn on platform like binance and etc.
 
meyzee said:
Hehe purpose of tether is to equalize its value as a dollar. As a fiat. If you have come asking why is it stable. Whats better? Holding your fiat on a bank with such 1% interest yearly or hold usdt which you can have approximately 12% interest when you hold and earn on platform like binance and etc.
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The idea is interesting, I think it's better than the Bank)
 
meyzee said:
Oh yeah! Hahah but it has no seedphrase
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Funny how this aged, BUSD basically got wound down after this thread, so the "is it safe" question was fair. Stablecoins are fine for parking money short term, but on an exchange it's their keys, not yours. I'd split it across a couple of stables and keep the bigger part in my own wallet.
 
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