Which Stable Coin is the best one?

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There are dozens of stable coins that one can use to preserve the value of their dollars. The top stable coins are USDT,USDC, BUSD and DAI.

This coin is known for freezing assets, whether it be due to a hack or a request by law enforcement, it is known to freeze assets via its smart contract(code). Laws change all the time so what is legal now can theoretically be illegal in the future. For example you are able to own Monero now but in the future Monero may be outlawed and if you own any Monero your funds would be at risk of getting frozen. In conclusion if crypto laws were to change and if you somehow violated a law of a certain country you can potentially have your assets frozen if you keep USDT.

On June 30th 2022 the USDC stablecoin depegged from the dollar and fell to 98 cents, its not much but when converting huge amounts of funds one will definitely notice a difference. Luckily USDC didnt fall as hard as UST(Terra USD) which went from being worth 1 dollar to less than a cent in a matter of weeks. On August 2022 the U.S sanctioned a platform called Tornado Cash and arrested one of its creators. Tornado Cash is a mixer which makes funds difficult to track once you put them in the mixer.The reasoning behind the sanctions was that it was being used by a North Korean organization to launder money. Circle, which is the company that created USDC froze the USDC that was in TornadoCash. In conclusion this stable coin looks to be very centralized and therefore a bit risky if choosing to store your dollars in this stablecoin.

This stable coin is Binance's stable coin. To this day there is no public knowledge or scandal involving this stable coin and it has no history of significantly deppegging from the dollar such as the previous coins. This coin also has one of the lowest transaction fee's so if youre ever wanting to transfer funds from one platform to another you would be paying some of the lowest fees by using this stable coin.

This stable coin is a completely decentralized coin meaning there is no sole admistrator and its is backed by cryptocurrency so theoretically there is no person that can push a button and freeze your funds when using this coin, there also hasnt been an instance where its significantly depegged from the dollar. If youre looking to support complete decentralization this would be the coin for you.

In conclusion the best place to store your dollars is in the DAI or BUSD stablecoins.

**I am not a Financial Advisor. This is not Financial Advise**

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