USDT is indeed a stablecoin designed to maintain the US dollar peg. However, there are several concerns that arise in my mind regarding USDT, including, because USDT lacks transparency regarding its reserves. Apart from that, there are also concerns that USDT might be used to manipulate the cryptocurrency market. However, my concerns are based on accusations and controversies surrounding USDT circulating in various news, although this does not mean that all my concerns are valid or that USDT has fundamental weaknesses. However, a lack of transparency and regulatory oversight has contributed to doubts and questions surrounding USDT operations.
I have similar concerns, I agree with your opinion. But I like the fact that for so many years of its operation there have been no major problems that could greatly affect the state of the market. And many will continue to use it every day, which is probably its main advantage. 
Topic: Do You trust Tether (USDT) Stablecoin? - page 4. (Read 3112 times)
USDT is indeed a stablecoin designed to maintain the US dollar peg. However, there are several concerns that arise in my mind regarding USDT, including, because USDT lacks transparency regarding its reserves. Apart from that, there are also concerns that USDT might be used to manipulate the cryptocurrency market. However, my concerns are based on accusations and controversies surrounding USDT circulating in various news, although this does not mean that all my concerns are valid or that USDT has fundamental weaknesses. However, a lack of transparency and regulatory oversight has contributed to doubts and questions surrounding USDT operations.
I don't tust USDT beacuse it's too centralised
If Tether (USDT) is considered the pioneer stablecoin and as long as it's SEC-free and legit, I'm still sticking with it. Yes. Stablecoins play an important role in protecting wealth from market fluctuations, and Tether allows easy liquidation if it wants to lose its peg to the USD.
You can do that to keep your balance safe but i was talking about the altcoin industry here. Most of the projects that is listed in a centralized exchange have a USDT pair. USDT is heavily used pair not only for altcoin but also for bitcoin. So if something bad happens with USDT then this will be a massive blow to the whole altcoin market. All the altcoin will heavily crash as all the pair are mostly in USDT and due to the liquidity shortage these projects will have that time.
Temporary dump is possible if usdt crashed or anything bad happens. I agree that most of the exchanges have only usdt pair for certain altcoins and will be affected with usdt. Top exchanges already knows about this and most exchange have now alternative option for this problem. Binance already have FDUSD, other exchange also have other stable coin. Just like BUSD I think there will be no big problem of liquidity but time will show what really happen that time.
By looking at the USDT market cap, one thing came to mind: what will happen if this thing crashes like UST? This might never happen, but a single stablecoin that is dominating the market can be bad for the overall industry if there is anything bad related to the project. This can be anything like regulatory pressure or dishonesty on the part of the team. Another thing that caught my eye is the rise of USDT marketcap and fall of USDC market cap. They are behaving quite oppositely, so anyone can explain what is happening with them?
Since Tether USD is one of the strong stable coins in the market with good strategy and impressive effort to keep the project stable for as long as possible. We also need to invest wisely just like we have seen with many cryptocurrency projects that had crashed due to bad maintenance and poor management team tending for them. USDT is a good project also we need to check out other strong projects too so that we can be safer than confidently investing in just one stable coin alone. Relying on one stable coin is not good idea If it is for holding purpose..Usdc, Dai are some other stable coins which are available in many exchanges.. If we diversified our stable coin portfolio in all these three coin then it will minimize our risk. Amongst all stable coins USDT has high market cap..If we check exchanges then one thing is clear that most of pair is available only in USDT which show the strength of this stable coin.
However Any stable coin can face security issue just like BUSD .. This is the reason I believe that relying on only usdt is bad choice and we cannot mark usdt fully secured stable coin.
You can do that to keep your balance safe but i was talking about the altcoin industry here. Most of the projects that is listed in a centralized exchange have a USDT pair. USDT is heavily used pair not only for altcoin but also for bitcoin. So if something bad happens with USDT then this will be a massive blow to the whole altcoin market. All the altcoin will heavily crash as all the pair are mostly in USDT and due to the liquidity shortage these projects will have that time.
Of course, I really believe in USDT because its popularity is very high. Apart from that, Tether is a very stable coin, therefore this coin is the best solution when the crypto market experiences inflation like several years ago.
By looking at the USDT market cap, one thing came to mind: what will happen if this thing crashes like UST? This might never happen, but a single stablecoin that is dominating the market can be bad for the overall industry if there is anything bad related to the project. This can be anything like regulatory pressure or dishonesty on the part of the team. Another thing that caught my eye is the rise of USDT marketcap and fall of USDC market cap. They are behaving quite oppositely, so anyone can explain what is happening with them?
Since Tether USD is one of the strong stable coins in the market with good strategy and impressive effort to keep the project stable for as long as possible. We also need to invest wisely just like we have seen with many cryptocurrency projects that had crashed due to bad maintenance and poor management team tending for them. USDT is a good project also we need to check out other strong projects too so that we can be safer than confidently investing in just one stable coin alone. Relying on one stable coin is not good idea If it is for holding purpose..Usdc, Dai are some other stable coins which are available in many exchanges.. If we diversified our stable coin portfolio in all these three coin then it will minimize our risk. Amongst all stable coins USDT has high market cap..If we check exchanges then one thing is clear that most of pair is available only in USDT which show the strength of this stable coin.
However Any stable coin can face security issue just like BUSD .. This is the reason I believe that relying on only usdt is bad choice and we cannot mark usdt fully secured stable coin.
I didn’t seen any reason for untrust usdt because if we are investors then we can use usdt for buy new or old token. Just enough thinking for little investors but if you are a milliner then you can thinking of trust history. I believe usdt good strategy and impressive quality project in the crypto market.
By looking at the USDT market cap, one thing came to mind: what will happen if this thing crashes like UST? This might never happen, but a single stablecoin that is dominating the market can be bad for the overall industry if there is anything bad related to the project. This can be anything like regulatory pressure or dishonesty on the part of the team. Another thing that caught my eye is the rise of USDT marketcap and fall of USDC market cap. They are behaving quite oppositely, so anyone can explain what is happening with them?
Since Tether USD is one of the strong stable coins in the market with good strategy and impressive effort to keep the project stable for as long as possible. We also need to invest wisely just like we have seen with many cryptocurrency projects that had crashed due to bad maintenance and poor management team tending for them. USDT is a good project also we need to check out other strong projects too so that we can be safer than confidently investing in just one stable coin alone.
By looking at the USDT market cap, one thing came to mind: what will happen if this thing crashes like UST? This might never happen, but a single stablecoin that is dominating the market can be bad for the overall industry if there is anything bad related to the project. This can be anything like regulatory pressure or dishonesty on the part of the team. Another thing that caught my eye is the rise of USDT marketcap and fall of USDC market cap. They are behaving quite oppositely, so anyone can explain what is happening with them?
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 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!
My personal view is that there are 2 stable coins that are the most credible and I personally use both, namely Tether (USDT) and USDC, especially USDT. For example, I want to deposit to an exchange using P2P, I do it with Tether USDT, what else is Tether top 3 coinmarketcap based on Coingecko and CoinMarketCap from I used to use Tether, it's still safe, it depends on which stable coin you want to use, but do your own research
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.
It's undeniable that there have been suspicions surrounding Tether for years. People doubt whether Tether's reserve of USD is sufficient to back the amount of USDT they have issued. However, it's crucial to note that Tether is currently the largest stablecoin by market capitalization. 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.
If something were to happen to Tether, I believe the market would plunge into a prolonged crisis, and if there were any issues with Tether, I think they would have surfaced long ago. The recent reports about their reserve and the profits they've generated also provide some reassurance.
Quote
My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?
In terms of trustworthiness, I rate USDC higher than USDT because Circle, a significant player on Wall Street, backs USDC. I believe that in the next cycle, USDC will grow stronger than it is now and capture more market share from USDT.
I think that when it comes to trust, everything is still confusing, if it really wasn't USDT, why would the volume of USDT continue to increase every year, and the amount of USDT supply continues to increase, some rumors say that USDT has no real dollar backup, and other opinions say the opposite.
I personally use USDT as a stable coin when trading, remember when Busd was considered good and safe, now BusD will be delisted next February.
I personally use USDT as a stable coin when trading, remember when Busd was considered good and safe, now BusD will be delisted next February.
As long as your funds aren't coming from shady sources, I would call you a normal user 
Yea, it's similar to traditional banking but there are some pros here like you can exchange easily to or from usdt/usdc without kyc (on instant exchanges/dexes — if cexes require kyc), and also no worry even if you convert huge amounts unlike in banks where if it were $10k you'd be asked whereabouts it came, why are you withdrawing, etc
Indeed. Tether has only been blacklisting address belonging to criminals. I haven't seen or heard of a case where an average person gets his/her USDT funds frozen for an unknown reason. I know PayPal will do it with his stablecoin (PYUSD), especially when the company uses to freeze or restrict customers' PayPal accounts at will. Stablecoins like USDT and USDC are a much safer bet. If you want to avoid KYC, buy/sell USDT through a DEX. As simple as that. Yea, it's similar to traditional banking but there are some pros here like you can exchange easily to or from usdt/usdc without kyc (on instant exchanges/dexes — if cexes require kyc), and also no worry even if you convert huge amounts unlike in banks where if it were $10k you'd be asked whereabouts it came, why are you withdrawing, etc
I wouldn't be surprised if someday the US government requires stablecoin issuers to comply with KYC at the protocol level. That would mean altering the smart contract code that would require users to verify their ID before getting access to it. If this happens, then Tether and other centralized stablecoins will lose ground big time. I'd prefer a decentralized stablecoin anytime because of the benefits it provides. If only DAI had bigger liquidity and an ecosystem as large as USDT's, the majority would've moved to it already. At least we have a choice. Who knows how long will Tether last?
Pretty sure if something like kyc happens to USDT, most exchanges are gonna move to DAI, I have also lots of faith in it because they have done their home work well [1].
Assuming the worst case scenario and already having preparation for it? I'm sold.
Quote
Physically Resilient: The Endgame Plan assumes that at a point in the future, there will be a severe crackdown on use of RWA in crypto. Anything that can be seized by global powers may be at risk of seizure through legal means. Physically Resilient RWA are real-world assets that cannot easily be seized. A DAO like Maker can retain some level of technical sovereignty over such assets.
[1] https://endgame.makerdao.com/concepts/collateral-breakdown
As long as your funds aren't coming from shady sources, I would call you a normal user
Yea, it's similar to traditional banking but there are some pros here like you can exchange easily to or from usdt/usdc without kyc (on instant exchanges/dexes — if cexes require kyc), and also no worry even if you convert huge amounts unlike in banks where if it were $10k you'd be asked whereabouts it came, why are you withdrawing, etc
Yea, it's similar to traditional banking but there are some pros here like you can exchange easily to or from usdt/usdc without kyc (on instant exchanges/dexes — if cexes require kyc), and also no worry even if you convert huge amounts unlike in banks where if it were $10k you'd be asked whereabouts it came, why are you withdrawing, etc
Indeed. Tether has only been blacklisting address belonging to criminals. I haven't seen or heard of a case where an average person gets his/her USDT funds frozen for an unknown reason. I know PayPal will do it with his stablecoin (PYUSD), especially when the company uses to freeze or restrict customers' PayPal accounts at will. Stablecoins like USDT and USDC are a much safer bet. If you want to avoid KYC, buy/sell USDT through a DEX. As simple as that.
I wouldn't be surprised if someday the US government requires stablecoin issuers to comply with KYC at the protocol level. That would mean altering the smart contract code that would require users to verify their ID before getting access to it. If this happens, then Tether and other centralized stablecoins will lose ground big time. I'd prefer a decentralized stablecoin anytime because of the benefits it provides. If only DAI had bigger liquidity and an ecosystem as large as USDT's, the majority would've moved to it already. At least we have a choice. Who knows how long will Tether last?
I trust usdt completely. Over time, this has become a standard in the industry and I think many will agree with this. Yes, if you dig deeper in search of information about real reserves, questions may arise since there is no complete transparency and information. But even this factor does not stop users from keeping their funds in this particular asset.
fairly speaking they does disclose their reserve as well as getting it audited, I think they are transparent enough in this regard.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 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!
My personal view is that there are 2 stable coins that are the most credible and I personally use both, namely Tether (USDT) and USDC, especially USDT. For example, I want to deposit to an exchange using P2P, I do it with Tether USDT, what else is Tether top 3 coinmarketcap based on Coingecko and CoinMarketCap from I used to use Tether, it's still safe, it depends on which stable coin you want to use, but do your own research
until the accusation is proven I will continue to believe and will continue to use Tether. tether is the stablecoin I use most often because the exchange rate available to exchange altcoins that I get from airdrops or bounties is USDT, apart from that I deliberately chose USDT because USDT is the most popular stable coin at the moment. I am sure that issues like this will not affect USDT because people's trust in USDT is already very large.
I trust usdt completely. Over time, this has become a standard in the industry and I think many will agree with this. Yes, if you dig deeper in search of information about real reserves, questions may arise since there is no complete transparency and information. But even this factor does not stop users from keeping their funds in this particular asset.
They indeed freeze assets, but it shouldn't be worry for normal users, even USDC freezes assets, so this is something that is similar to all centralized stable coins. Tether publishes transparency report [1] daily, so I'm unsure why they have suspicious status in category of stable coins. I'm gonna seek clarification from forum users.
[1] https://tether.to/en/transparency/#usdt
Great I would appreciate and would humbly learn too. If they freeze assets, how do you mean it shouldn’t be a worry for normal users? How are you defining normal users? I’m a normal user and for the times I’ve used USDT, I have never had any challenges, but then I worry for the fact that someone somewhere has the ability to freeze my USDT. I mean, isn’t this exactly what the traditional banking system does? Considering that it’s the same case with USDC, I may prefer to stick to USDT. However, maybe Bitcoin is really the best after all. [1] https://tether.to/en/transparency/#usdt
As long as your funds aren't coming from shady sources, I would call you a normal user
Yea, it's similar to traditional banking but there are some pros here like you can exchange easily to or from usdt/usdc without kyc (on instant exchanges/dexes — if cexes require kyc), and also no worry even if you convert huge amounts unlike in banks where if it were $10k you'd be asked whereabouts it came, why are you withdrawing, etc
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 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!
My personal view is that there are 2 stable coins that are the most credible and I personally use both, namely Tether (USDT) and USDC, especially USDT. For example, I want to deposit to an exchange using P2P, I do it with Tether USDT, what else is Tether top 3 coinmarketcap based on Coingecko and CoinMarketCap from I used to use Tether, it's still safe, it depends on which stable coin you want to use, but do your own research
Jump to: