I reckon the best time to begin your plan for the bear market is to do it during the bull market. I want to hold American dollars or a dollar equivalent when the bear market arrives, however, I do not feel safe holding centralized stablecoins like USDT, USDC or BUSD. What are the decentralized stablecoins can everyone of you recommend?
I think that one of the best stablecoins to hold on a cold wallet is DAI created on the Ethereum platform. DAI was created as an alternative to the already existing stablecoins, due to the lack of trust in them. DAI differs from centralized stablecoins in that it is provided by freezing ETH tokens in a smart contract at the current rate. The rate of the DAI itself is always kept +- at the level of $1 - this is ensured by special mechanisms.