Topic: Do You trust Tether (USDT) Stablecoin? - page 10. (Read 3222 times)

Tether, being widely supported by American investors and backed by substantial funds in a bank, stands out as an exceptionally robust stablecoin. It currently holds a significant market share, making it one of the most prominent stablecoins available. Moreover, it enjoys strong backing from numerous blockchain platforms.

agreed with this statement, as much as many rumours surrounding it. I honestly dont really worry much about the well being of this coin.
since my investment also usually measly amount, i have no doubt about the reliability of this coin, though it's always better if everyone just use this coin
temporarily for a mean of saving wealth against inflation.

The way I see it is you can either go USDT or USDC and then the rest in TUSD or have it decentralized like CurveUSD or wait on AaveUSD I hear DJED is also going Multi-Chain but seriuosly USDT are more established and anything happening to usdt will affect the whole market (the have some us-bonds ). You can never say never but for now they seem alright but maybe divide your cash holdings to USDT and USDC also get some DJED or something just incase

There's nothing to worry about with Tether for now, look at how much the marketcap of Tether is?
yes, Tether is in the top 3 of Coinmarketcap, meaning that Tether trusts everyone, of course, is very trusted,
so there is nothing bad about Tether and even Tether is the top 1 stable coin circulating in the crypto market.

I am in Cryptoworld since 2017, there is no sure about the most credible stablecoin except USDT since there is some stablecoin that crashes, for example, Terra(LUNA).

"LUNA was meant to buffer TerraUSD against market volatility, but it succumbed to extreme selling over recent days. Its trading price was knocked down to $0.03, last week. That’s down 99.9% since May 6.

“It was inevitable Terra crashed as the reliance on using other cryptocurrencies as collateral as well as the minting/burning mechanism of LUNA for Terra was not sufficient to survive any serious market volatility,” says Adam Carlton, CEO of crypto wallet PinkPanda says.

In a bid to save TerraUSD, the Luna Foundation Guard (LFG), the nonprofit that supports the Terra network, depleted its entire reserve of $3 billion in Bitcoin. And it was the fund’s dumping of its Bitcoin reserves in a last-ditch effort to save UST that probably helped contribute to Bitcoin’s volatility."

Source: https://www.forbes.com/advisor/in/investing/cryptocurrency/crypto-market-crash/

In stablecoins, there have generally been successful in maintaining they're pegged, there have been isolated incidents where specific stablecoins faced challenges or failed to maintain their intended stability. These instances can be attributed to various factors, including insufficient collateralization, mismanagement, lack of transparency, regulatory issues, or market shocks. However, it is worth noting that stablecoins such as Tether (USDT), USD Coin (USDC), and DAI have been operating relatively stably and have gained significant traction in the crypto market. These stablecoins are widely used for various purposes, including remittances, trading, and as a store of value. They have established themselves as credible options within the cryptocurrency ecosystem.

It's crucial for users and investors to conduct thorough research and due diligence before engaging with any stablecoin to assess its credibility, track record, and the mechanisms in place to maintain stability. Market volatility and risks are inherent to the cryptocurrency space, and careful consideration is necessary when choosing stablecoins or any other digital assets.

I think that's Tether's huge selling point. It's available on multiple blockchain networks, unlike many of its rivals. Not only that, but the USDT stablecoin has first-mover advantage on the market. It has managed to retain its peg to the US Dollar, even with the banking crisis taking the world by storm.

For Tether to fail, Bitfinex (the issuing company) must cease to exist. And I don't see that happening anytime soon. The company is bigger and stronger than ever. It's likely Tether will remain the sole survivor of the stablecoins group, until CBDCs replace paper money for good. Maybe the US will go as far as adopting USDT as the new "Digital Dollar"? Just my thoughts

well even though tether is like the pioneer of stablecoin it's still doesn't reduce the fact that even a coin like that could collapse, people wouldn't believe it at first they thought they are too big to fail but the chance is still there even though it's rather slim. i'd say the solution you presented to prevent such disaster through spreading the investment to various coins as a mean of diversifying could helps.
but talking from the point of view of an investors that want to keep the wealth from deteriorating from the volatility itself, stablecoin is much certainly the most convenient way and sometimes diversifying too much will just adds
some complexity towards the investment.

As long as people are putting their trust to the tether and im sure nothing happened with it. The only problem if people are not able to trust it. Tether is far better than USDC. USDC is always having problems.
Stable token can't be used as investment.

i don't know who. but someone does hold it. maybe someone doesn't want to withdraw his money because of something like taxes

what is your daily need. are you a trader?

I think it wont go anywhere. usdt is here to stay because the community want it. back then before stablecoin. there is bitcoin is the grand cryptocurrency we trade for another altcoin.
But since 2017 usd tether take control almost everything in daily volume. less and less people gonna trade like UNI/ETH, CAKE/BNB, ETH/BTC or BNB/BTC.

Shipping costs? Are you referring to transaction fees? You are aware that bsc network can move other stable coins as well that are also dirt cheap to use?

Also i don't think many of us are using erc20, for moving small amounts of usdt anyway. Not only it's supported by bsc, you have move it via Arbitrum, Solana, Optimism, Tron, and even Bitcoin.

I am keeping mine in stablecoin if i want to reduce volatility. If i store something in fiat, i feel like i am completely out of the game.

im afraid if i don't trust this stablecoin i'd have no way of going against the fluctuation keeping my assets from being disrupted
by the massive volatility that the market has.
usdt is the longest standing stablecoin there is and I don't think it's gonna go anywhere.

Tether has been a controversial stablecoin in the crypto world. While it has gained widespread adoption, concerns about transparency and market manipulation have been raised. Other credible stablecoin options include USDC, Dai, and TUSD. It's important to research and make informed decisions when investing in stablecoins.

Without USDT we can't imagine trading specially it’s daily needed for the traders. But a lot of rumours about USDT as like it can be collapse anytime. Whatever i think it’s most using stable coin in the market, so it’s quite popular. I'm using Tether USDT in tron network for cheap transaction fees. I trust it for daily uses but will never hold for long time in my wallet.

Tether usdt is most used trading pair in all exchanges and if i am nit wrong tether is no 1 ranking in term of stable coins. Usdt is not back up by any coin and if any kind of bad situation happened then this could lead to massive dump in crypto. despite of all these community still believe in usdt and they are not hesitating to hold large number of usdt. i personally love usdt because most of tokens pair has only usdt and i can easily trade in any exchange.

So far, I personally still use Usdt and so far it's still very safe, although sometimes prices often change from time to time and I think this is reasonable and doesn't really make us feel like we're going to leave it, because until now we often use Usdt for transactions. daily needs. we can still trust Tether ( USDT ) for now.

Many people spread rumors without thinking much about cryptocurrency, those who spread rumors about Tether USDT do not know that they have a long history in cryptocurrency and have been in the market for a long time. I believe Tether USDT is a very reliable stable currency. If someone wants to keep his currency stable then I would say Tether USDT is one of the best options. But storing all your capital in USDT will not be safe. Also you can use BUSD.I have been using USD for a long time and from my experience I have not noticed any anomalies where there is a chance of a scam.But if anyone has any doubts about this, you can keep your capital converted into various trusted currencies as a decentralization.

I trust it enough to use it, not to hold it. But who's holding stablecoins anyway, right?

until now I still believe and use Tether (USDT), because in my opinion Tether (USDT) is a decent stablecoin for me to use, this is evident from the very high volume of Tether (USDT) and Tether (USDT) is also ranked 3rd, so of course that's what makes me confident and believe to using Tether (USDT) until recently.

I use usdt, busd, and usdc according to what exchange I use but I mostly use BUSD because as we know bsc is a network that has shipping costs that are still friendly to its users and is widely used by today's users.
for storage, I never save in stablecoin, but I'm more comfortable saving in fiat

most of liquidity comes from trading who seek different price around crypto exchange. it's not like a bank who provide liquidity in stock exchange.
if there is no evidence that stablecoin reserves equal the circulating supply so there is no evidence that they can back up all USDT at this time.
their own liquidity maybe some stock exchange, USD , some bussiness like hotel, or maybe bank deposits around the world. what if the world economy collapse, Then USDT will be in the same fate.

i wish i have that token. which bussiness they have to print 1 billion stablecoin.
or they want to shut people mouth. tether is not a bank, but i think they treat their coin just like a bank did