Tether is used by many and stablecoins are a rising market, but are they really stable?
What makes a stablecoin truly stable and what can we do to assure they are backed 1=1 unlike Tether.
I think the best way to do that is by checking the circulation and total supply of that stable coin, for example, the BUSD a Binance issued stable coin and they said that it was pegged with a dollar in 1-1 ratio and with a total supply of 13 Billion it was relatively small compared to Tether's USDT and because it was issued by one of the worlds trusted names in crypto that's why I feel secure when im using BUSD.
I feel the same way. BUSD do have the money from all the profits they made in their exchange. I don't know about Tether, it was already doubted years ago but I don't why they still continue. I'll accept the small amount backed by USD because you can tell it is real unlike others. But this is just my opinion as a user, I don't understand some technicalities about it.
Plus, since I am using the exchange I don't need to go so far because they are targetting to pair it with other coins just like what they did with BNB.