^
When things go down and they will go down real hard, Tether is a little too risky for my blood and frankly it gives me a real bad vibe but of course, there is no other option to trade "USD" in most exchanges, for example Bittrex so I have to use it but I keep my eye on it very closely. I moved my cash to Kraken, all in USD and EURO (no Tether).
Edit: It gives me bad vibe because I feel the old uncle Sam doesn't like it when they cut them off from the banks so basically, it's very risky imho.
I verified my account at Bittrex to trade with USD but after I did it, it only activated Tether for me. There is no option to withdraw USD to my bank account at all. Kraken seems trustworthy, I have verified account there too and tested to withdraw $5 or €5 or something and it worked fine and fast using SEPA.
Granted, trading BCH on Kraken is well, almost impossible. They have changed and removed to many things in the name of "performance" bla bla bla so really, it's a slow motion place for "trade". Prices always much higher than other exchanges when you want to buy and much lower when you want to sell.
But again, I don't dare parking more than about 1-2K USD in Tether in Bittrex. With or without audit, I don't care. If I can't withdraw it to my bank account, it's a risky "asset".
By the way, thank you for bringing this Tether subject up. I had a lot of USD in Tether. A very foolish thing of me.
BTC back up above $4K, BCH hanging around $490. Was I wrong on my TA prediction? I will soon find out. Hopefully not in the painful way!
When things go down and they will go down real hard, Tether is a little too risky for my blood and frankly it gives me a real bad vibe but of course, there is no other option to trade "USD" in most exchanges, for example Bittrex so I have to use it but I keep my eye on it very closely. I moved my cash to Kraken, all in USD and EURO (no Tether).
Edit: It gives me bad vibe because I feel the old uncle Sam doesn't like it when they cut them off from the banks so basically, it's very risky imho.
I verified my account at Bittrex to trade with USD but after I did it, it only activated Tether for me. There is no option to withdraw USD to my bank account at all. Kraken seems trustworthy, I have verified account there too and tested to withdraw $5 or €5 or something and it worked fine and fast using SEPA.
Granted, trading BCH on Kraken is well, almost impossible. They have changed and removed to many things in the name of "performance" bla bla bla so really, it's a slow motion place for "trade". Prices always much higher than other exchanges when you want to buy and much lower when you want to sell.
But again, I don't dare parking more than about 1-2K USD in Tether in Bittrex. With or without audit, I don't care. If I can't withdraw it to my bank account, it's a risky "asset".
By the way, thank you for bringing this Tether subject up. I had a lot of USD in Tether. A very foolish thing of me.
BTC back up above $4K, BCH hanging around $490. Was I wrong on my TA prediction? I will soon find out. Hopefully not in the painful way!
Glad you got out of USDT - it smells rotten to me, and crypto is already a fairly high-risk environment...
Thanks for your insights on Kraken/Bittrex - I've been using Poloniex for awhile but I feel like their days are numbered. Also, support is non-existent so if your withdrawal gets flagged - you won't see your funds for at least 30 days, if you see them at all...
BCH seems to be holding strong, and mining profitability is 1.04x BTC due to BTC difficulty hike.
I got around $1500 in USDT at Bittrex, that's about as high as I'm "willing to lose", of course it's still a LOT of money for me but I have a buy at $50 BCH (haha) so we'll see.
Speaking of support, Bittrex's support is slower than Kraken. Kraken is not speedy, it's on the slow side too. Verification went fairly quick though. Specially Tire 3, it took some 1 hour or something I think.
Kraken's stop loss thing, let me tell you, does NOT work. At least for me. I did set a few times some orders on certain prices, they did not trigger. Kraken is basically slow manual "trade" but again, personally, for me, it feels safest and most trustworthy and professional for now. (of course, we never know how safe are the funds in these accounts but hopefully, they do not touch customer funds)
Yes, BCH is holding strong but careful, if China bans mining, we might see a big dip... maybe HUGE dip. I have set a few alarms (hopefully they will work too *lol*) on Cryptowat.ch, it starts peep peep peep if price hit certain level. Pretty nice function. You right click on the graph, get some small yellow arror and then the volume icon on the top can adjust alarm price: https://cryptowat.ch/bitfinex/bchusd/
hope and trading don't go hand in hand, what rock did you crawl out from under?
