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Have you invested in USD coin?

  • Thread starter Thread starter Shortie
  • Start date Start date

Shortie

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I have been quite curious myself about USD coin and I wondered how many people have looked into or even invested in USD coin at all.

I noticed on Coinbase that when you purchase USD coin you 4.60% APY and wondered if anyone has invested and how they are finding it.

Looking forward to hearing your views on USD coin.
 
Shortie said:
I have been quite curious myself about USD coin and I wondered how many people have looked into or even invested in USD coin at all.

I noticed on Coinbase that when you purchase USD coin you 4.60% APY and wondered if anyone has invested and how they are finding it.

Looking forward to hearing your views on USD coin.
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I had a pretty bad experience with USDC, I had about $ 300 in USDC and a few months ago this coin had a Depeg, that is, it lost parity with the dollar, it fell to $ 0.87, I saw it at $ 0.9 and I ended up exchanging all my USDC for Matic at that time, so I lost $ 30 in value, that's why I don't trust stablecoin right now, because if for example Bitcoin falls by 10%, 20% or more is the risk I am running because it is a volatile asset, but a stablecoin must remain stable, and im not willing to run this risk.
 
riberet19 said:
I had a pretty bad experience with USDC, I had about $ 300 in USDC and a few months ago this coin had a Depeg, that is, it lost parity with the dollar, it fell to $ 0.87, I saw it at $ 0.9 and I ended up exchanging all my USDC for Matic at that time, so I lost $ 30 in value, that's why I don't trust stablecoin right now, because if for example Bitcoin falls by 10%, 20% or more is the risk I am running because it is a volatile asset, but a stablecoin must remain stable, and im not willing to run this risk.
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You should have been patient with selling. Those kind of minor dips can happen once in a while, but it is still going to stabilize in a matter of days as long as you held on. Did you check it again to find out what I am talking about on it?
 
Henrywrites said:
You should have been patient with selling. Those kind of minor dips can happen once in a while, but it is still going to stabilize in a matter of days as long as you held on. Did you check it again to find out what I am talking about on it?
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The problem is that it was because of the fall of Sylicon Bank, and it was a time of considerable uncertainty, sometimes it is easy to say but difficult to do, in addition a stablecoin must remain stable, if not, for what I want it? it is true that I should have been patient, but my head kept repeating what happened with UST (Terra Luna's stablecoin) and I ended up exchanging it.

Yes, of course, then it stabilized, but I don't want to know anything about stablecoins anymore.
 
I haven't invested in the USD Coin yet and I'm not sure if it's the right time for me to do so. There are so many things to consider when it comes to investing in this coin because whatever that's happening with the USD is going to directly impact heavily on this coin. This why I'm still skeptical about the coin for now.
 
Heatman said:
I haven't invested in the USD Coin yet and I'm not sure if it's the right time for me to do so. There are so many things to consider when it comes to investing in this coin because whatever that's happening with the USD is going to directly impact heavily on this coin. This why I'm still skeptical about the coin for now.
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Well, it's not bad idea to have a bit invested in stablecoins to be able to make quick purchases or sales regardless of what may happen to the dollar, because no matter what happens, any cryptocurrency will be more volatile than the dollar, so it's not bad to have a little bit of sayings assets.
 
riberet19 said:
Well, it's not bad idea to have a bit invested in stablecoins to be able to make quick purchases or sales regardless of what may happen to the dollar, because no matter what happens, any cryptocurrency will be more volatile than the dollar, so it's not bad to have a little bit of sayings assets.
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The thing is that I have tad a bit much in USDT already, so I see it as repeating something that's similar to what I already have. I don't think that there's much difference between USDT and USD Coin. What do you think? Let's say I have more than $2k in USDT, do you suggest I still put in more on USD Coin?
 
Heatman said:
The thing is that I have tad a bit much in USDT already, so I see it as repeating something that's similar to what I already have. I don't think that there's much difference between USDT and USD Coin. What do you think? Let's say I have more than $2k in USDT, do you suggest I still put in more on USD Coin?
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I don't think you should diversify in stablecoin since USDT has proven to be the most reliable until now, if you have that amount in stablecoin, you don't need to deposit more money in a different one unless you doubt a little about the possible future integrity of USDT, for me USDC is less secure than USDT as we already saw with the silycoon valley bank collapse and the USDC depeg
 
riberet19 said:
I don't think you should diversify in stablecoin since USDT has proven to be the most reliable until now, if you have that amount in stablecoin, you don't need to deposit more money in a different one unless you doubt a little about the possible future integrity of USDT, for me USDC is less secure than USDT as we already saw with the silycoon valley bank collapse and the USDC depeg
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Exactly what I had in mind. USDT have been most reliable and that's why I had much on it. All the cryptocurrency trading that I do is with the same stable coin pair with any other coin I want to trade on Binance Futures. It's my investment for trading which is different from my regular held coins in cryptocurrency.
 
USDC is a stable coin created by Coinbase. I do not invest in stable coins as the price does not go up like other coins. Stable coins are dependent on USD and there are only small price changes so if you invest in a stable coin like USDC, you might not make a big loss. The only stable coin I use is USDT
 
The main reason why I have investment in USDT is for the purpose I have with trading cryptocurrency on Binance Futures. It's only with USDT that you can trade on Binance Futures. I don't have to worry about the coin losing value when I trade and I get my profits in USDT.
 
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