Do You trust Tether (USDT) Stablecoin? - page 20.

riantolie

jr. member

Activity: 74

Merit: 1

Quote from: ryzaadit on February 09, 2023, 03:49:34 AM

Nope, you can see how their activity.
1. They can freeze your fund
2. Their asset backup actually not 100%
3. There has some case the value it's not 1$ a couple time, based on the time history chart.

So, with that reason. I think everyone are advising people to not holding your asset into "USDT" with a long term.

I don't think many people are using it for holding. It's a stablecoin, mostly it's used just to send money. I'm using it for about 2 years now, and never had any issues. Never heard if they froze someone's wallet for no reason.

Kelvinid

sr. member

Activity: 2828

Merit: 344

win lambo...

I used USDT and BUSD for my trade but never I tried to hold them or any stablecoins. Fortunately, for the many years that I'm using them, I don't have any bad experiences which is why I still trust them. I don't think there is a problem with this USDT but I think it is the site or trading platform that we use.
I could not distrust USDT as long as I don't have any bad experiences with this coin. As I was using trusted exchanges, I have no worries at all and I believe that it won't disappoint me as well.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Maybe USDC but I also use USDT. But I don't think about the fraudulent potential of USDT or other stablecoins because I only use it temporarily and then use it to buy bitcoins. It's like taking profits in USDT to then buy bitcoins again with USDT Grin

And I think in choosing stablecoins, we have to look for it ourselves and not just follow other people's suggestions. That way, we will know which stablecoins we can be comfortable using.

dimonstration

hero member

Activity: 2758

Merit: 705

Dimon69

Quote from: ashslm on February 09, 2023, 02:46:27 AM

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

USDC is the most trusted Stablecoin for me because it is founded by Circle which is a fully regulated company. You can assure that your USDC fund is backed 100% by fiat since they always have an audit unlike USDT. I would say BUSD since they are stablecoin of Binance but since Binance is now being target by US regulators, There’s a chance that they will suffer same fate with FTX with one wrong move of CZ. For now BUSD is still safe but if you are looking for long term reliability, Choose USDC stablecoin.

blockman

hero member

Activity: 3066

Merit: 629

20BET - Premium Casino & Sportsbook

Everyone will just have to end up with other stable coins as follows in no particular order aside from USDT;

USDC
BUSD
DAI
TUSD
PAXOS
TUSD

Those are the other ones that are being mostly used but if you're for the decentralized, the closer one is dai.

ryzaadit

legendary

Activity: 2688

Merit: 1262

Nope, you can see how their activity.
1. They can freeze your fund
2. Their asset backup actually not 100%
3. There has some case the value it's not 1$ a couple time, based on the time history chart.

So, with that reason. I think everyone are advising people to not holding your asset into "USDT" with a long term.

Why you bully me

member

Activity: 148

Merit: 13

Quote from: ashslm on February 09, 2023, 02:46:27 AM

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

I do not like usdt due to lack of transparency, if I remember correctly according to their own whitepaper if something does happen they can give you another coin or something "equal" of value to replace your usdt. I never heard of any problems with people using and withdrawing USDT even when withdrawing billions and cashing out in small spaces in time but that 100% doesn't mean it won't happen in the future but who knows time will tell.

I personally like USDC, they have a fully reserved stablecoin. Each USDC is backed cash.

Cheesy

hd49728

legendary

Activity: 2044

Merit: 1018

Not your keys, not your coins!

They have long history in cryptocurrency and if there is a stable coin you can trust, USDT is one of the best options you have. Regardless of they cooked their reports, I think they have good treasuries for Tether USD.

However, in cryptocurrency, things can change very fast and we don't know how Tether USDT will change in future. If you want to store your capital in stable coin, I don't think it is safe to store all your capital in only Tether USDT. You can choose some other stable coins to store your capital like BUSD (Binance USD), USDC together with Tether USD.

Decentralize risk of bankruptcy from one stable coin by this way.

ashslm

newbie

Activity: 12

Merit: 1

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

Topic: Do You trust Tether (USDT) Stablecoin? - page 20. (Read 3303 times)