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Topic: Buy tether when the market is crashing? (Read 180 times)

jr. member
Activity: 95
Merit: 1
May 23, 2018, 04:25:59 AM
#30
You're right. I often do so.
Tether is a virtual dollar. It is a constant.
The only problem is that it is not guaranteed by real money. + constant emissivity of the tether.
In other words, when you sell your crypto currency for tether, you give it for free.
Therefore, Im in tether for very short periods of time.

Take care of your cryptocurrency they have a hidden surprise in its “legal” section for every Tether buyer:

“Once you have Tethers, you can trade them, keep them, or use them to pay persons that will accept your Tethers. However, Tethers are not money and are not monetary instruments. They are also not stored value or currency. There is no contractual right or other right or legal claim against us to redeem or exchange your Tethers for money. We do not guarantee any right of redemption or exchange of Tethers by us for money. There is no guarantee against losses when you buy, trade, sell, or redeem Tethers.”

https://cointopper.com/guides/what-is-tether-usdt-and-how-it-can-help-you-save-yourself-during-crypto-bear-market
full member
Activity: 616
Merit: 108
Honestly, with the latest events and news around tether, it's scary to buy it, as at one point it may disappear and strike a big blow to cryptocurrencies and investors wallets.
member
Activity: 350
Merit: 11
You're right. I often do so.
Tether is a virtual dollar. It is a constant.
The only problem is that it is not guaranteed by real money. + constant emissivity of the tether.
In other words, when you sell your crypto currency for tether, you give it for free.
Therefore, Im in tether for very short periods of time.
jr. member
Activity: 322
Merit: 2
I think tether is the safe zone for the altcoins especially when the market price is very unstable. I have experience it, when I have an altcoin that is starting to dip lower and lower, I didn't hesitate to exchange it immediately to avoid much loss. Luckyly, I save my investment at that time, all thanks to tether coin.
member
Activity: 456
Merit: 10
Before buying tether, read this from Tethers own Terms of Service:

“There is no contractual right or other right or legal claim against us to redeem or exchange your Tethers for money. We do not guarantee any right of redemption or exchange of Tethers by us for money. There is no guarantee against losses when you buy, trade, sell, or redeem Tethers.”
legendary
Activity: 2100
Merit: 1058
I’m on the newer side to crypto, just want to say that first.

Tether always stays between .99 and 1.01. How, I don’t know. With it never really changing in price, why not convert your cryptos to tether to avoid losses when the market is crashing?

converting your crypto coins to tether is same as you sell your coins to USD because tether price is almost same of USD.
why not holding it when the price falling ? later if the price come rising, you wont losing some coins.

using Tether is the only way to preserve and hold our crypto assets and prevent them from losing together with the crypto market.
But today it's very hard to earn using Tether because of the high payout fee. and secondly, it is not backed by US Dollar so anytime USDT Tether could be shutdown with no further warnings and many had just said that it's too risky using Tether on storing your high value asset.
Irrespective of the coin which you are planning to buy, the most important thing which carries the most significant importance is that you need to buy that coin at time when the market value of that coin is falling and when rest of the investors are busy in panic selling. This will give you a chance of buying the coins at cheaper rates and then it will also help you in getting lot more profit too.
full member
Activity: 238
Merit: 102
REVOLUTIONIZING THE TRAVEL INDUSTRY
I’m on the newer side to crypto, just want to say that first.

Tether always stays between .99 and 1.01. How, I don’t know. With it never really changing in price, why not convert your cryptos to tether to avoid losses when the market is crashing?

converting your crypto coins to tether is same as you sell your coins to USD because tether price is almost same of USD.
why not holding it when the price falling ? later if the price come rising, you wont losing some coins.

using Tether is the only way to preserve and hold our crypto assets and prevent them from losing together with the crypto market.
But today it's very hard to earn using Tether because of the high payout fee. and secondly, it is not backed by US Dollar so anytime USDT Tether could be shutdown with no further warnings and many had just said that it's too risky using Tether on storing your high value asset.
full member
Activity: 238
Merit: 102
REVOLUTIONIZING THE TRAVEL INDUSTRY
I’m on the newer side to crypto, just want to say that first.

Tether always stays between .99 and 1.01. How, I don’t know. With it never really changing in price, why not convert your cryptos to tether to avoid losses when the market is crashing?

USDT Tether is a fix price of cryptocurrency. That's why there are so many investors who are using USDT in order to preserve their crypto assets as they try to invest on their favorite altcoins like Altcoin -> Ethereum -> Tether -> Ethereum -> Altcoins.
when the market is down, your crypto asset would be preserved and will become higher in value otherwise you will lose crypto asset value as well.
using Tether for me is only useful when the market is going down only.
full member
Activity: 1260
Merit: 100
April 30, 2018, 03:32:32 AM
#22
I’m on the newer side to crypto, just want to say that first.

Tether always stays between .99 and 1.01. How, I don’t know. With it never really changing in price, why not convert your cryptos to tether to avoid losses when the market is crashing?

converting your crypto coins to tether is same as you sell your coins to USD because tether price is almost same of USD.
why not holding it when the price falling ? later if the price come rising, you wont losing some coins.
newbie
Activity: 85
Merit: 0
April 30, 2018, 02:20:44 AM
#21
I’m on the newer side to crypto, just want to say that first.

Tether always stays between .99 and 1.01. How, I don’t know. With it never really changing in price, why not convert your cryptos to tether to avoid losses when the market is crashing?

Keeping money in this form will really save your money in case of a decrease in the cost of the course. This is a really good method.
yes, it is a very precise strategy, because the value of tether equal to dollar, then there will be no losses when the price of coin prices in the market has decreased.

Yes if you know that there will be several days of crashing because we cannot tell as well when the market will be green exactly.
full member
Activity: 1048
Merit: 102
April 30, 2018, 02:17:17 AM
#20
I’m on the newer side to crypto, just want to say that first.

Tether always stays between .99 and 1.01. How, I don’t know. With it never really changing in price, why not convert your cryptos to tether to avoid losses when the market is crashing?

Keeping money in this form will really save your money in case of a decrease in the cost of the course. This is a really good method.
yes, it is a very precise strategy, because the value of tether equal to dollar, then there will be no losses when the price of coin prices in the market has decreased.
newbie
Activity: 182
Merit: 0
April 30, 2018, 01:44:31 AM
#19
I’m on the newer side to crypto, just want to say that first.

Tether always stays between .99 and 1.01. How, I don’t know. With it never really changing in price, why not convert your cryptos to tether to avoid losses when the market is crashing?

Keeping money in this form will really save your money in case of a decrease in the cost of the course. This is a really good method.
sr. member
Activity: 714
Merit: 257
April 30, 2018, 01:40:52 AM
#18
Tether is pegged to the dollar. Some of the people think tethers are not backed with enough dollars, some think they are.
If we suppose that they are solid, then yes, when crypto markets crash, holding tethers are like holding dollars. Saves you from losing
legendary
Activity: 2296
Merit: 1031
April 30, 2018, 01:39:15 AM
#17
I’m on the newer side to crypto, just want to say that first.

Tether always stays between .99 and 1.01. How, I don’t know. With it never really changing in price, why not convert your cryptos to tether to avoid losses when the market is crashing?

That is a wise strategy for using tether and this was the whole reason we have tether on markets where fiat is not an option.  It is rather ironic that as much as so many people trash talk fiat it is still obviously useful in cryptocurrency trading markets.
full member
Activity: 280
Merit: 110
April 30, 2018, 01:21:34 AM
#16
On paper, it looks good but in real trading, the thing isn't as simple as that.
1. Some dips occur very fast and you don't have time to transfer your money into an exchange in order to make a trade.
2. You never know how low a dip might be. It may be a low dip and then a step increase and you lose all the gain.
I think tether is best to use when you want to cash out some funds. You find a good selling price and cash in tether...
copper member
Activity: 32
Merit: 0
Live A Fonder Life
April 29, 2018, 10:11:49 PM
#15
I mean there are two ways in which you can lock in your gains from cryptocurrency.

(1) Convert your cryptocurrency to money & transfer to your traditional bank account
One of the way of cashing out your cryptocurrency is through Coinbase. However, you would need to link a bank account to be able to withdraw it. The negative side to it, is that it usually takes a couple of day before you are able to get your cash. (~2-4days)

(2) Convert your cryptocurrency to another cryptocurrency
That is the why you mentioned, changing your other cryptocurrency into tether. However, this also means you are exposing yourself to a different type of risk.

On the bright side, the chart of Tether of rather stable in comparison to most of other cryptocurrency: https://www.tradingview.com/symbols/USDTUSD/
Because of this price stability, it is a great place to keep your “cash” while you wait for the next trading opportunity.
You need to take into consideration that there is many unanswered questions about Tether, so do consider the risks before jumping into this. One of the main concern for Tether is that there is no legitimate audits for the longest time, and it is a red flag (definitely!)

On their website, it is mentioned that each Tether is not backed by $1 USD. Thus, when a cryptocurrency bubble arises and pops, there might not be enough liquidity in Tether and consequently, lead to its collapse.

Last thing to take note, Tether is a centralized system based on trust that can be easily exploited/ close down by the governments, which is entirely different to what the early adopters of cryptocurrency were trying to achieve and construct.
"The concept and development of a centralized dollar-pegged coin is fundamentally harmful for the crypto-market that is based on decentralization, censorship-resistance and anonymity."
Thus, there is two sides to a [Suspicious link removed]d point being: Fully Backed, Bad point being: Ability to attack the crypto-community by the media, government and banks 

member
Activity: 66
Merit: 14
ICO Bounty Hunting Guides and Tips
April 29, 2018, 08:19:12 PM
#14
I’m on the newer side to crypto, just want to say that first.

Tether always stays between .99 and 1.01. How, I don’t know. With it never really changing in price, why not convert your cryptos to tether to avoid losses when the market is crashing?

Yes, you are new to crypto. Make a vague research before you put your money for more than 5 minutes in Tether.
Just google Bitfinex'ed. He explains everything pretty clear.
member
Activity: 616
Merit: 13
April 29, 2018, 08:18:11 PM
#13
I’m on the newer side to crypto, just want to say that first.

Tether always stays between .99 and 1.01. How, I don’t know. With it never really changing in price, why not convert your cryptos to tether to avoid losses when the market is crashing?

That's really the purpose of that token, to protect our capital from crashes and market volatility. Think of this, If you have created a good amount of profits buying an altcoin, Then you sold it to BTC which is also high at that time. Then BTC and majority of altcoins crashes down . Your profit is gone. But take note, i heard a lot of bad rumors about tethers creating more supply when its marketcap increases in able for it to stay at around 1$ . That makes sense to me but i don't know what will be the bad thing that can happen doing that. Be careful.
legendary
Activity: 3150
Merit: 1069
April 29, 2018, 07:39:05 PM
#12
Tether is indeed the virtual USD. And if you feel to convert your crypto to fiat for short time than they are a solution.
Yes, buying ether while the market is going down would save your currency value in USD but if you were not able to buy back on increase than you might even miss the rise.
newbie
Activity: 154
Merit: 0
April 29, 2018, 07:33:04 PM
#11
I also do the same most of the time when the market is crashing or looks like it is about to crash I convert most of my coins which are in profit to USDT and wait for the market to get stable before buying them again.
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