Buying USDT during crypto dips.your thoughts.

HappyMod

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Quote from: cryptothief on March 20, 2018, 09:10:34 PM

I detest the whole concept of USDT. I am sure if it did not exist, then the market would not experience the extreme drops it has over the past few months. People throw their belief in cryptocurrency out the window when they have an easy option. I honestly believe that if the option was not there, then the market would not have dropped to the extent it has. What to do, it does exist, but I hate it. Used it once a few months ago and have refused to use it since, win or lose. You're either in or out. I'm in.

I'm not sure if USDT can be held accountable for having such a big part in how far the market dropped, but I agree that the concept is bad. I don't trust BitFinex, they don't show proof that they are actually backing each tether with a dollar, and they can just print more whenever they feel like it. I've used it as well, but it's given me more stress than relief.
I'm in as well.

Leonard2016

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if you have done it before crypto blood you made a master move , but changing to usdt when every thing is down , seems like you sell in loss and the price of usdt doesn't change so much , I don't think it's a good idea to change it when every thing is deep coz if they go up usdt won't change that much.

BarbusseH

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When the amount of funds for you is small, the USDT is the best option for maintaining the value of the asset. And if the amount is significant, then transfer to fiat or bitcoin to hardware purse.

valeria113

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Go for real USD. Usdt won't return your usd if usdt has any problem. They stated it in their policy

sksaddam

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It is better option when increase crypto market convert your token to usdt.Then when crush crypto buy your favourite token.If you thought crypto trade is risky for me then convert your token to usdt for stable price.

bitcoinmasterlord

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Quote from: clickerz on March 23, 2018, 11:15:12 PM

Quote from: infer on March 23, 2018, 09:03:41 PM

It is not good at all, You should buy coins during dips and buying usdt during the pump. Because after the dips, everything will be green again. Holding usdt during that time is not good at all. It provides us an opportunity to earn money in the dip so that we need to buy more coins.

This is what I am talking about, that buying USDT during the pump since when the coin is dump you can buy back again. You can gain more profit with this strategy too. Be always vigilant and on t alert, because transaction on exchanges were fast also. Many traders are on the lookout of this strategy too.

I think what OP is trying to tell when dip will start that time we have to convert our coins to USDT. it is right then only you can able to save your profit. when the dip will finish and start to increase slowly that time buys again. all are on the same track but explaining in different ways that's it.

letecia012

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Quote from: Tactical Genius on January 24, 2018, 08:54:19 AM

During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?

Forcme its a good strategy to preserve the vakue of your portfolio it may not going down since it is fix vslue to 1 dollar. i am doing the same when my coins seems gongvdown i sold it to usdt and when it is bottom I buy back so my usdt will give me more number of couns i hold with same amount than before

clickerz

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Quote from: infer on March 23, 2018, 09:03:41 PM

It is not good at all, You should buy coins during dips and buying usdt during the pump. Because after the dips, everything will be green again. Holding usdt during that time is not good at all. It provides us an opportunity to earn money in the dip so that we need to buy more coins.

This is what I am talking about, that buying USDT during the pump since when the coin is dump you can buy back again. You can gain more profit with this strategy too. Be always vigilant and on t alert, because transaction on exchanges were fast also. Many traders are on the lookout of this strategy too.

infer

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It is not good at all, You should buy coins during dips and buying usdt during the pump. Because after the dips, everything will be green again. Holding usdt during that time is not good at all. It provides us an opportunity to earn money in the dip so that we need to buy more coins.

Dwarf42

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Quote from: Tactical Genius on January 24, 2018, 08:54:19 AM

During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?

I think that at the moment you should buy as much USDT as you can see that the market is preparing for a big storm, the price of bitcoin and altcoin today has started to adjust and mitigate for many hours. Immediately. According to my analysis, the bitcoin price will reach $ 7000 tomorrow and still can not recover. You can see that the market is still in the main bear market so it is time to stock up so much USDT so that when the market recovers it can buy the best price.

Thirdspace

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Quote from: Alex077 on March 23, 2018, 10:01:07 AM

The thing is, all the exchanges with a large number of Altcoins work with USDT, and dollar is not in use there.
Aside from Bitfinex, which had issues with the withdrawal of the dollar for a long time, all the other exchanges work with USDT,
Binance, Poloniex, Bitrex... Bitstamp is a good exchange to work with dollar, it operates with large volumes of trades, but there are few crypto-coins in turnover there.

the reason not many exchanges deal with US$ fiat because they need to follow local regulations
they need it to be legally do fiat exchanges and open real banking account
and following the rules, they need to comply KYC AML stuff required as a registered money transfer service
btw as far as I know Poloniex doesn't have 'dollar' (US$) fiat markets

Kawasakinamoto

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That's what i'm actually doing right now, and it gives me alot of profit but actually this is one of the riskiest thing iv'e done in my trading career because sometimes the market is manipulated.

Alex077

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Quote from: Thirdspace on March 21, 2018, 07:56:39 PM

Quote from: Tactical Genius on January 24, 2018, 08:54:19 AM

During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?

isn't that the main real use of USDT? as a "hedge" tool in this crazy volatile cryptocurrency markets
if you think USDT is used to easily cashout or move your crypto, Roll Eyes

you should think twice
your action holding USDT as a way to temporary store and protect your $$ value is considered good
although you might miss the profit opportunity when there is a sudden price increase in BTC/US$ fiat market Tongue

The thing is, all the exchanges with a large number of Altcoins work with USDT, and dollar is not in use there.
Aside from Bitfinex, which had issues with the withdrawal of the dollar for a long time, all the other exchanges work with USDT,
Binance, Poloniex, Bitrex... Bitstamp is a good exchange to work with dollar, it operates with large volumes of trades, but there are few crypto-coins in turnover there.

lite

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Quote from: jerry0 on March 21, 2018, 04:25:14 PM

Does bittrex or binance have nubits, bitusd or trueusd?

Yes, bittrex has nubits(NBT)[1] and trueusd(TUSD)[2], it's not available yet on binance(i hope they add it soon). as for bitusd[3], it can be bought on openledger dex. you can see all the exchanges those coins are traded on (cmc links below).

[1] https://coinmarketcap.com/currencies/nubits/
[2] https://coinmarketcap.com/currencies/true-usd/
[3] https://coinmarketcap.com/currencies/bitusd/

apityeh71

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That good strategy, during any bad news all cryptocurrency will be down and only by sell that all crypto to USDT is better because nearly no fluctuacion of this coin. I also prefer doing trade on pair altcoin with USDT because i can sell all coins to Tether ASAP.

Scallywag

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the best option for what you want is usdt , it does exactly what you need. if you trust them to hold value that is , a lot of people say that there is no proof that every tether is backed by a dollar.

Thirdspace

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Quote from: Tactical Genius on January 24, 2018, 08:54:19 AM

During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?

isn't that the main real use of USDT? as a "hedge" tool in this crazy volatile cryptocurrency markets
if you think USDT is used to easily cashout or move your crypto, Roll Eyes

you should think twice
your action holding USDT as a way to temporary store and protect your $$ value is considered good
although you might miss the profit opportunity when there is a sudden price increase in BTC/US$ fiat market Tongue

janelleshepard

member

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This is the popular way to safe your money when the dump is coming but actually there are many other ways to do it.
Like withdrawing all your cryptos into fiats but you will have to pay much fees for this is the biggest disadvantage for this way.

bitcub

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You are doing it right dude. BTC is not the best option to hedge the value of your investment. uSDT is the only way to preserve it. Thus you can rebuy bitcoin and alts on its dip using usdt. Which gives you more money.

Quote from: Tactical Genius on January 24, 2018, 08:54:19 AM

During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?

dragoz11

sr. member

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that is why tether is printing many coins, but lately there was an issue with tether and u.s so I was in doubt whether to invest on it or not when the market faces a fall.

Topic: Buying USDT during crypto dips.your thoughts. (Read 324 times)