Topic: Buying USDT during crypto dips.your thoughts. (Read 358 times)

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.

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.

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.

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

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.

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.

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

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.

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.

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.

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

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.

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.

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/

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.

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.

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, 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

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.

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.

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.

I just can't see the point in it and I don't understand the people who have faith in it. Even if it works fine, they should not trust it.

Alt only exchanges these days often demand verification too. If you have to verify anyway that means real dollars are available to you on places like Bitstamp and GDAX and they're only a  BTC or LTC transfer away from your alt exchange.

I would never leave any significant value in USDT. I think they have the money. I also think regulators will eventually nail them and there'll be no warning. I'd do it for a day or two. I wouldn't park and them and go away for months. There's a good chance there'll be nothing to come back to.

I believe the market is about to prepare storm so you convert your bitcoin to USDT to be able to preserve the capital. It can be seen that bitcoin and altcoin prices have risen sharply for two days in a row and are now facing signs of slowing down. According to my analysis, today's bitcoin price may be adjusted to $ 8400 before continuing to rise.

I believe that at this point you should sell your bitcoin and convert it to USDT, you can see that the bitcoin price has risen steadily over the past three days as the G20 summit has taken place and has shown the specific path and importance of crypto market Therefore, after several days of continuous price increases, I think bitcoin prices will adjust slightly before continuing to increase. You should sell to take profit and prepare to buy at a better price to trade.

this is the right option to wait for a general decline, usually the USDT is not at all volatile, so it can serve as the currency in which you can wait for a drawdown

Does bittrex or binance have nubits, bitusd or trueusd?

USDT can't be relied upon, there are alternatives though that people can use as these stable coins(nubits,bitusd,trueusd) use collaterals to provide stability/$1 pegging. i encourage people use dollar pegged stable coins like trueusd,bitusd or nubits.

It is a good strategy to buy usdt when the market is down. But you should be extremely attentive, because there were a good deal of nasty news about usdt. Nevertheless, Goldman Sachs have bought Poloniex recently, so things can’t be too bad..!

Understanding the risk should also be taking place, yes it is usable for a while if we understand how the market will proceed, it can serve as a temporary
assets just to convert your holdings to much safer if we are dealing inside the exchange, but just like what you have said there's still some issue that is
needed to clarify before we entrust our investment, better to use it with a lots of understanding and more strategy than frequently using it and make
your entire investment at risk.

Don't forget that Tether is still an unresolved issue. We don't know if they are really solvent, if their USDT is really backed by USD money at a 1:1 ratio or they are doing really fractional reserve banking at small scale which would be enough to create a scarefest and get further panic selling traction. For now, it seems to be working, but sooner or later I think USDT will bust and we will have another bear cycle, excellent to buy because ultimately who the hell cares if some company is doing that in some off shores bank. Bitcoin is beyond these scammy practices. 21 million limited coins no matter what guys, don't forget that.

USDt is the choice of all traders when the market starts fluctuating. As the market goes down, USDT goes up and affects many other Altcoin, and when the market goes up, USDT is chosen as a money storage solution to wait for the next opportunity.

USDT is the best escape route from market dips and crashes but i would suggest to convert half of your cryptos in your local currencies as USDT is also surrounded  with some rumors of not backed by dollars as they claim.

Yes, USDT is a popular coin with high stability and safety. But in my opinion, that is the downside of USDT. Personally I do not like the price stability. USDT does not have the fluctuations and fluctuations necessary in the user base and in the psychology of investors. After the successful phase by the end of 2015. USDT value gradually decrease and become saturated. In other words, USDT has lost its essence and seems to be no longer adjusting to maintain the trend. I like the vibrations from DOGE.

I have the same feeling. USDT encourages more risky behavior from traders in  my opinion.

i dont trust to tether so much. like tether is an altcoin and there is no guarantee that tether will be 1 usd in the future. i would prefer to just cash out instead of exchanging tether. it is much more safe (if it iş avaible in your country) and whenever needed i can cash in again. banks are safer than tether.

Isn't this very profitable if you have btc and notice it keeps dropping down?  Example you got btc at 10k.  It goes up to 13k but then starts dipping to like 10500.  You feel it would dip even more.  You immediately sell it for usdt and get around 10500 so you profit 500.  Now it dips more and more to 8k.  Now you buy back over 1 btc etc.  Now say it goes to 10k again.  You immediately sell everything for usdt.  Let say you gained around 2500 total on this where your usdt balance is now 12500.  Btc is now around 10k or so.  So if you held the entire time, you would have made nothing, thought of course if you dont sell it nothing happens.  But the person that sells it and then buys back etc few time, here they made 2500 worth of profit as they could now immediately sell the 12500 usdt for btc and then immediately sell the 12500 worth of btc to coinbase/gemini or exchange and get real usd to bank account and now profit around 2500 minus fees right?


Because if a coin keeps dipping and going back up, there seem to be good amount of short term profit to be made.  Thus the more volatile it is, the better for the trader.  Thus isn't making sure you have enough usdt for dips like this very important?  Because if you keep everything in btc, and wait for dips, well that doesn't make sense because if you want to buy dips of altcoins, well your btc price will be dipping hard as well but not as bad as altcoins.  Thus with usdt, you want prices to dip hard when you are a trader right? 


Also are ppl really concerned about usdt?  Are there ppl/traders that have like mid 4 figures or 5 figures of usdt where its used to buy at dips?  And do those ppl feel concerned about usdt?  Because ppl say its not real usd but even if thats the case, wouldnt it be really hard for usdt to be zero or nothing?  Because surely tons of ppl have money in usdt especially traders right who trade altcoins?  Now if you trade btc, eth, litecoin and those other coins that could be paired with usd, well they dont have to worry about it.  But to trade altcoins, you need btc/usdt.  But you also dont want to hold btc if everything is dropping at the moment etc.  Thoughts?

I've always felt weary putting money into USDT during a downtrend since a downtrend is the exact time that USDT is most likely to blow up: aka "a bank run" causing the house of cards that it is to fall. So personally, I don't recommend it until Bittrex takes its legitimacy and transparency far, far more seriously. I'm still waiting for a genuine gold-backed token to to be used as a store of value. Perhaps this year there will be a decent one.

   Benefits come form staying in the crypto-currencies. You do not need to sell for dollars
and fall under U.S. law, you buy tether and you are fine. Headline is misleading, you should
buy tether before the dip, that's how you are safe, buying in dip is missed investment. Wrong
thing to do is selling in the dips, you sell on tops, in dips you buy.
   If you read headline and do what creator of this thread suggest you to do you will lose money
with trading all the time. I am not a trader and I know that just from reading here about it. It is
perfectly logical if yoy give it a thought. But I presume it is easier to spam then to make some
effort and actually learn something. People wish easy money, but that usually leads in disaster.

we can not deny that tether has many benefits for traders. for example the fact that it has been worth $1 fixed for more than 90% of its lifetime is a good feature, also it can be transfered with a very small fee compared to fiat transfers. so it is a convenient way for traders to escape to fiat. and it can be used in many trading strategies.

but we should not end up thinking it is the same as fiat. because it is not and we should not forget the risks that this coin has. it is always easy to forget that tether is centralized and that poses a serious risk! not to mention that they are not even guaranteeing anything for their users.

I think that's a good idea and iv'e been doing that alot because btc goes up and down and i want to get alot from that opportunity so i actually usually do that.

it is a good strategy and a terrible one at the same time.
it is a good strategy because during drops you should get out and out to a safe place which is a more stable asset, which in this case can be a currency (fiat). but you are choosing a "fiat-like" altcoin not fiat itself. you are using USDT instead of USD, and that makes it a terrible strategy. tether is one of the shadiest altcoins out there, it is centralized and it can fail at any moment if the company behind it fails or decides to scam people out of billions of dollars.

in short I suggest to do anything else if you can, preferable going back directly to fiat (USD) if possible and use tether as the last option after you tried everything and couldn't find another way.

Tether is quite possibly an artificial and unbacked crypto which has been used to boost the entire market cap. If you think 2 billion dollars of Tether can’t affect the overall market cap, look into the fundamentals. It’s major. Tether is a primary trading pair on nearly every exchange. A significant portion of the volume of all crypto could be fake!! This isn’t FUD this is necessary scrutiny. I’m bullish long term but this is something to be aware of.

I believe that USDT is surely the number one choice for all of us when trading as well as avoiding hurricanes whenever the market is in crisis. We can completely switch to USDT to preserve our capital and wait for the market to recover and start trading again, buying other USDT codes. USDT is worth about $ 1 and is not affected much from the market, so the change to USDT will be very safe for you.

cashing out now is very strange everything on low levels. Why now. Now IMHO is buy time to buy crypto. Carefully, patient but buy time is coming. 

The whole point of USDT is to mimic the us dollar so what your doing is almost the same as cashing out or moving toward fiat.  USDT is the solution exchanges provided for people to move money into fiat without having the exchange having to deal with all the regulations that come with USD.

If you want to go on USD temporarily, you might as well use USDT to bypass all the bureaucracy of going back and fort into fiat, this was the original point of USDT.

The problem: The exchange with the best volume for USDT is Poloniex. Poloniex used to me freedom friendly back in the day, nowadays it's another hellhole of verification. I believe you can't no longer use Poloniex without verification, even to trade between alts, just like Bittrex. So you can't no longer use USDT as an anonymous way to go in and out of crypto in a token that's stable. I don't know if there are more exchanges that are anonymous with USDT, but I wouldn't expect good volumes there. USDT also has an inherent risk of blowing up at any second, just like any token pegged to a fiat currency.

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.

Yes, its a better move. You need a perfect timing in selling your coins to usdt to make a good move. And putting all of your coins into tether or usdt will put your trading into neutral since there are no big price movement in tether. Best way to keep your funds at safe in rough times.

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Recently there have been some talks which have been raised questioning if we are really sure that all Theter is really backed by dollars... so I sense some possible danger there too, if it ever would come out that it isn't.

I mean buying tether really matters based on what exchange your own, as I personally am on GDAX so I can just simply sell my bitcoin get USD (insured by the FDIC if it is to be lost) and then go about trading again if I want to. I don't know why people trust tether and bitfinex, but all of that is beyond me as I am able to avoid it without bothering me.

I'd try to buy it right before the dip though, you could maybe make 4 percent as was seen the other day when it went up to 1.04 -- though if you were to buy at that and then sell at 1.00 it could be a bit annoying, though I guess better then the market taking a shit.

Tether is supposed to be an escape rope when the market are crashing, its a better way of safe keeping your money rather than converting it all the Fiat currency when the market are all red.

Well that's the hole point on buying tether, since it's suppose to act as a a virtual dollar. Of course that since it's not an actual dollar, it can lose value or even be shutdown, since it's centralized. I think that if you can have access to an exchange that actually pairs bitcoin to fiat, you should opt for this instead, as you would be much safer this way. It's still an exchange, and we are seeing some banks temporary closing exchanges accounts, but I would still prefer it to tether. There are also some coins that are outperforming bitcoin right now, so you could also try to accumulate more bitcoin by trading those pairs.

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?