Topic: Do You trust Tether (USDT) Stablecoin? - page 15. (Read 3222 times)

LUNA's crush on UST was a very unfortunate occurrence.  However, after this incident, all investors have become very cautious in the field of investment.  And since the crash of stable coins like UST, investors' confidence in USDT, USDC, BUSD has also decreased, so many people are afraid to hold them. But I don't think USDT can crash like UST so I still trust and use USDT a lot but I won't say you use it too it's your personal matter which one you trust and invest in.  I shared only my personal opinion

I don’t know what videos and articles you read, but I’ll note that it’s better not to trust such forecasts and always think with your own head. Anything can be said, and personally I do not jump to conclusions from the opinions of any pseudo-oracles, because they themselves do not know anything. Good stablecoin, I have been using it for a long time and have no complaints

agree with you, apart from UST issues I think all stable coins are worth using. moreover USDT being the most popular stable coin with the largest market cap at the moment, I think there will be no doubts and everyone will say that it is really worth using. regardless of what happens to UST or FTX I think it's an event that no one wants including the team, and I don't think this problem will make all of our trust in crypto disappear.

Can you confirm that Tether has a 100% fiat backup? I doubt that Tether requires such a backup and I'm certain they don't have it. Therefore, it's essential to verify this information.

on the ranking coinmarketcap tether is the top stable coin, with the largest market capitulation, so I believe in tether, even though it was hit by negative issues but until finally and until now it can still be trusted as the biggest stable coin, although there are also some stable coins that are worth using . I often use this coin when waiting for the price to buy coins, even though I wait a long time to get the desired price, I always use it

In my own opinion for crypto to go main stream, it needs the support of government and for government to support anything that will in financials, they must have control over it, like banning wallets, monitoring for KYC and AML, you don't a situation where terorist and hackers will stolen someone's wallet and nothing can be done about it or been traced to the person? I think USDC serves the purpose for government and institutional body's to adopt crypto 

[moderator's note: consecutive posts merged]

Currently, we find ourselves without any alternative to Tether. Regardless of our personal preferences, we are constrained to it due to its status as the stablecoin with the largest market capitalization and liquidity, as well as its presence on major blockchains and exchanges. Tether's influence is growing, and it has become a reputable household name for stablecoins, as evidenced by its substantial profits in the first quarter of this year, which were three times higher than the previous year.

Tether has never had the best of starts as a cryptocurrency and the fact that it's centralised does give me the goosebumps but I think it's the risk most are willing to take to keep a 1:1 value for our money as it's a stablecoin.

Btw talking of trust, trust is something that doesn't come easy these days and I wouldn't toss it around that easily either not for any crypto coin...

Tron based tokens have always been my favourite, the fees are super low and block times are just superb better than Bitcoin which can make you wait for several hours before getting your first confirmation.

I've been analyzing some of the most popular stablecoins currently, and I don't trust any. Nevertheless, I still think they are pretty useful and necessary currently, so I've chosen USDT as the most trustworthy for me. Why? Because of the alternatives:

1- DAI: looks to me just as wrapped USDC with extra steps and risky factors (i.e. most of the collateral backing it right now is indeed a centralized stablecoin...so if USDC collapses it will very likely kill it...and it has a lot of extra complexity in his inner workings that naturally add extra risks...So why the hell just not use USDC?)
2- RAI: It looks to me that decentralized stable coins are experiments right now, which are very dangerous to get involved in, have very complex mechanisms to wrap my head on, and depend on economics principles that I´m not certain they will really work. This coin sounds interesting and is backed 100% by ether, but when I looked on youtube for an interview with the creator, he had difficulties even clearly explaining its workings and principles in my opinion. I support this kind of experiment nevertheless, just don´t trust their principles until they have a lot of maturity in the market.
3- USDC: It seems very connected to the US financial system and government to me, so more easily exposed to regulatory risks, wallet bans, etc. Which is something I don´t like at all. Also, I suspect they have been causing most of the bad news about USDT for gaining adoption of their coin...But who knows, maybe I'm paranoid.
4- BUSD: I just don´t like or trust Binance at all and don´t want to have anything to do with them.

So that leaves USDT, a coin that:
1- Clearly doesn´t have everything backed 1-1 because Tether is doing the same business that banks have been doing for a long time with their fractional reserve system (so I don´t know why everyone is that surprised by this fact really...)
2- I think they are using banks in the Bahamas for their USD deposits (or I think I read about that...so, less regulatory risk)
3- It has been tested with a lot of bad news about the reserves and a lot of crypto bear markets...And the markets weren't able to do a bank run high enough to collapse it...

So, as I said, I don't trust any and I wouldn´t have much money on them, but I choose USDT.

can u guys sell me a tether?? it is very expensive in our city.  1tether=50k toman
or any other suggestion u have.selling, exchanging and sending cryptocurrencies is not difficult for me at all
if i want to buy any cryptocurrency it will be calculated with the price of tether(1tether=50k toman) and this is not interesting at all

There are many stablecoins in crypto, one of which is USDT, USDC, DAI, TUSD. I myself often use USDT or USDC, which is the most credible and of the two, I prefer USDT as far as I use USDT. what stable coin to choose but always be careful and do your own research this is not investment advice.

Many times, I have avoided liquidation by either stocking more stable coins or transferring my cryptos to stable coins. Tether (USDT) is a stable coin that is also applied as exchange commissions for the numerous market transactions. It's crucial to understand the transaction network we employ when transferring our cryptocurrency to another exchange or making an offline withdrawal. For instance, TRC20 is highly recommended because its fee is lower and it is based on the Tron blockchain, while ERC20's fee is higher and it is built on the Ethereum blockchain. BEP-20 is built on the BSC network, but these processes are typically slow in terms of transferring cryptocurrency.

I don't know what you mean by profitable since it is a "stable" coin, which mean it is pegged to 1:1 to the US Dollar. Of course, everything is on the blockchain if that is what you imply for crypto.

Personally, I wouldn't say that a trust Tether (USDT), but it is functioning as designed to yeah I'm using it in some shape or form.

And withdrawals are very quick as well, and again, if you wanted to hedge your crypto against the price going down, stable coins is the way.

Unlike other stablecoins, usdt is a fairly profitable asset and provides real opportunities for keeping your funds on the blockchain.  I personally use trc20.  It also makes it easier for me to trade with ETS and cash out profitably.

If no one trusts USDT why use it? People must believe that USDT is a good stablecoin and has real value which is why they use USDT. You can say that holding large amounts of USDT is another risk which is why people don't hold large amounts through USDT. But you can't say that the USDT is not trustworthy. Its market demand is huge.  And it is a perfect peg for traders

Are you a billionaire? Why are we talking about billions of dollars when we can't earn thousands of dollars or can't hold more than thousands of dollars in cryptocurrencies? I don't think it will be a problem if we keep the amount of income that we can earn and the amount of money that we can afford in USDT. Those who hold billions of dollars may wonder what stablecoin they should hold. But I think to hold high amount should hold through multiple coins like BTC, ETH, USDT, USDC, BUSD etc.

You can expect a huge crypto crash in the future if Tether fails. It's current the largest stablecoin in the market. Tether may live on multiple blockchain networks, but the companies' practices are quite shady. You'll never know when Bitfinex won't be able to honor the peg of USDT at some point in the future. There are simply a lot of risks that can't be ignored.

As I've said before, people are better off selling their crypto to Fiat instead of converting it to a stablecoin. That's because Fiat is backed by the full faith and credit of the government. The market will ultimately decide stablecoins' fate in the long run. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about. Just my opinion

Tether is a good stable coin and from analysis, it is the most used stable coin in the market. It has a great team and I am holding it because it is built under different giving investors opportunity to buy and hold based on there preferred network. Nothing is wrong with USDT so we can use it and not join anybody that will create fud for it.

yes you are right. we use Tether not because we have trust in the stablecoin. but indeed because at this time Tether is one of the best choices. because Usdt is the most widely available in almost all exchanges. before that I rarely used it. I use BUSD more often both in trading and for transactions. but looking at the current BUSD situation it is not good enough because FUD continues to corner BUSD. even I heard the latest news that Coinbase will be suspending BUSD trading on their current Exchange.

I think the main reason we still use it even though we do not trust it that much is the fact that it is not going to be something simple to just stop using it. I mean the trust may not be there, but the utility is there which means that plenty of people will have to use it without wanting to.

If there was a better alternative that we could trust, something that is viable and available everywhere, then we would switch to that for sure but unfortunately that didn't happen and that's the issue. I believe that we couldn't really do something about it just yet, but when the time comes a better alternative will come out eventually for everyone.

If the SEC classifies stablecoins as securities, two things could happen. Either issuing companies comply with securities laws or close up shop for good. Things are getting intense for crypto in the US, so it's likely the last scenario will unfold sooner than later. I think stablecoins would be better denominated in EUR than USD. Only time will tell us if stablecoin issuers will do such change within the not-so-distant future.

Honestly, I can't think of a stablecoin you could really trust since they're all issued by a private company. None of them are backed by the government, so there's always the risk of loss. Cashing out to Fiat would be your only option to avoid such risk. I only see stablecoins useful for day trading, not as something you would put your life savings into. The market will decide which stablecoins stay afloat and which ones will fade into oblivion. We already have decentralized cryptocurrencies, so there should be nothing to worry about. Just my thoughts