Do You trust Tether (USDT) Stablecoin? - page 5.

soramon

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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!

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

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Quote from: Nazmul012 on November 22, 2023, 12:49:07 PM

Usdt suppose to be trustworthy even for me also cause it keep proving its ability since years. Thus they gained our trust and still top three volume gained coin by rank as people prefer usdt trading in all of exchanges. That's why i also mainly use usdt when need among others stablecoins. I don’t think anyone should be worried about freezing or lost capital. but i don't have any problem if anyone choice dai, tusd or usdc over usdt

Even though there are many views about USDT, for me USDT is still worth using. I only use it temporarily as a backup before making an investment. Stable coins provide several advantages, especially for storing funds while waiting for the price to enter the buy area. That's why I've been using USDT from the start until now, and USDT hasn't been separated from the CoinMarketcap board, so I think it's still safe.

libert19

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Quote from: oktana on November 22, 2023, 04:56:28 PM

Quote from: libert19 on November 21, 2023, 09:53:17 PM

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.

As long as your funds aren't coming from shady sources, I would call you a normal user Tongue

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

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Quote from: libert19 on November 21, 2023, 09:53:17 PM

Quote from: oktana on November 21, 2023, 06:42:52 PM

Quote from: batang_bitcoin on November 14, 2023, 04:54:22 PM

Many still like Tether no matter issues are being thrown on it. With the volume that it has, that only tells one thing and that means that it's being trusted by many. Or not being trusted but because of the volume, they choose to use it instead of any other stable coins.

Quote from: libert19 on November 14, 2023, 08:40:58 AM

Usdc, don't ask for reasons, I just do.

This is the other one that I use these days. I don't know why as well but maybe there's a magnet on it that makes me use it because I have always seen it being said by people.

For someone like me, I have always preferred USDT. I guess it's because this was a common cryptocurrency for payment a couple of years back. And it was my favorite not knowing the things that are possible with it. I have heard that they can freeze your funds (I didn't really know this) and that is disturbing because I don't want anyone having such power over my money. Additionally, I heard that their assets aren't completely backed up, etc. Maybe the USDC is indeed a better choice.

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.

Nazmul012

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Usdt suppose to be trustworthy even for me also cause it keep proving its ability since years. Thus they gained our trust and still top three volume gained coin by rank as people prefer usdt trading in all of exchanges. That's why i also mainly use usdt when need among others stablecoins. I don’t think anyone should be worried about freezing or lost capital. but i don't have any problem if anyone choice dai, tusd or usdc over usdt

cryptoknightt

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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 believe that even though there will be news saying that tether is not backed up, tether is backed up by terrorists and the mafia and other bad news, the fact is that people still use tether and it is recognized as the stable coin with the largest volume in the crypto market.
but for liquidity I think USDC is still more trusted.

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Quote from: Zigabel on November 22, 2023, 05:17:23 AM

After Bitcoin I see USDT as the next coin I trust well enough asides Fiat. Nothing is 100% guarantee and even investing in Bitcoin aswell doesn't give you that guarantee so I'd you can get a 70-90% guarantee in a coin then why not and I think that's all for me because definitely non is risk free.

Well, even if you believe in USDT, maybe I just give a suggestion that if you want to save the money you have in a stable form, choosing Fiat, or keeping it in the bank is the best decision. Personally, I also have confidence in USDT, but I don't have much confidence in holding it for the long term. I might only hold assets in USDT when prices are down and want to secure the assets I have temporarily before buying other coins to hold. However, to date, the stable coin I use most often is USDT, but I have never held it for a long period of time.

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Quote from: CRAIC on November 22, 2023, 08:01:17 AM

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 don't tust USDT beacuse it's too centralised

A lot of cryptocurrencies are not centralised. You'd be surprised, but ethereum also has censorship and some validators may not allow some transactions on the network. Therefore, Tether is not much different from the regular erc 20 token. By the way if you use Tether, there are still no intermediaries in the transaction, like if it was a bank.

CRAIC

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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 don't tust USDT beacuse it's too centralised

Zigabel

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After Bitcoin I see USDT as the next coin I trust well enough asides Fiat. Nothing is 100% guarantee and even investing in Bitcoin aswell doesn't give you that guarantee so I'd you can get a 70-90% guarantee in a coin then why not and I think that's all for me because definitely non is risk free.

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i don't understand why usdt is considered a scam coin. Isn't the value of this coin the same as the value of USD in the global market, so it's only natural that this coin experiences ups and downs along with the value of USD itself?

libert19

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Quote from: oktana on November 21, 2023, 06:42:52 PM

Quote from: batang_bitcoin on November 14, 2023, 04:54:22 PM

Many still like Tether no matter issues are being thrown on it. With the volume that it has, that only tells one thing and that means that it's being trusted by many. Or not being trusted but because of the volume, they choose to use it instead of any other stable coins.

Quote from: libert19 on November 14, 2023, 08:40:58 AM

Usdc, don't ask for reasons, I just do.

This is the other one that I use these days. I don't know why as well but maybe there's a magnet on it that makes me use it because I have always seen it being said by people.

For someone like me, I have always preferred USDT. I guess it's because this was a common cryptocurrency for payment a couple of years back. And it was my favorite not knowing the things that are possible with it. I have heard that they can freeze your funds (I didn't really know this) and that is disturbing because I don't want anyone having such power over my money. Additionally, I heard that their assets aren't completely backed up, etc. Maybe the USDC is indeed a better choice.

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

Belarge

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Quote from: MIner1448 on November 21, 2023, 02:31:24 PM

I trust more than I don't trust. After all, this stemcoin has already been tested by time, it has stood the test of time and any fluctuations in the market, I don’t remember that there were any global problems with it, everyone who asks me which stemcoin is the most stable, I will answer USDT.

Putting my trust in stablecoins 100% because it's general and popular, unlike some projects that are not listed on most popular exchange. Stablecoins are used as gas fees for crypto transactions, that's how these stablecoins operates. I do actually trust these stablecoins because they have been in existence in the past decades, meaning they have survived heavy bear season that affected most crypto projects. USDT is the most stablecoin for me, I've converted most of my crypto assets to USDT because it seems to be more safer and believe me when I say, it have safe me count times from the heavy crashes of the market.

oktana

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Quote from: batang_bitcoin on November 14, 2023, 04:54:22 PM

Many still like Tether no matter issues are being thrown on it. With the volume that it has, that only tells one thing and that means that it's being trusted by many. Or not being trusted but because of the volume, they choose to use it instead of any other stable coins.

Quote from: libert19 on November 14, 2023, 08:40:58 AM

Usdc, don't ask for reasons, I just do.

This is the other one that I use these days. I don't know why as well but maybe there's a magnet on it that makes me use it because I have always seen it being said by people.

For someone like me, I have always preferred USDT. I guess it's because this was a common cryptocurrency for payment a couple of years back. And it was my favorite not knowing the things that are possible with it. I have heard that they can freeze your funds (I didn't really know this) and that is disturbing because I don't want anyone having such power over my money. Additionally, I heard that their assets aren't completely backed up, etc. Maybe the USDC is indeed a better choice.

MIner1448

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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 trust more than I don't trust. After all, this stemcoin has already been tested by time, it has stood the test of time and any fluctuations in the market, I don’t remember that there were any global problems with it, everyone who asks me which stemcoin is the most stable, I will answer USDT.

Publictalk792

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Quote from: Mate2237 on November 21, 2023, 12:13:05 PM

Tether (USDT) is a Centralized Cryptocurrency and that is why it is a stable coin and as others have said, they the exchange can freeze your USDT if anything happens in the process of transaction or other activities so I will only invest in decentralized altcoins which Ethereum also look like one. Though people like USDT because it stable nature and for now all the altcoins which is stable in nature is not in my interest to invest I will look to invest only on unstable altcoins.

Many people use USDT because when they keep they money there and when the price comes down they would not lost much but if it is bitcoin they drastically lost. And USDT is for short term investment though you can use it for long term but short term investors are found in the altcoin more.

Stable coin like USDT is a best option if you want to store some money online and you don't want to invest in any altcoin so USDT is the best option to store.
USDT is a type of cryptocurrency that is controlled by a specific exchange and they can freeze your money at anytime. Unstable altcoins may offer the possibility of making more money but they also have more risks. It really depends on what you want to achieve with your investment. It is a good idea to have a mix of stable and unstable altcoins in your portfolio.
But they thing is that these stable coins can depegg anytime and these can give a loss to you. Like we have an example of UST based on Luna network. When Luna Collapse the UST automatically collapse and they give a huge loss to investors.

Mate2237

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Tether (USDT) is a Centralized Cryptocurrency and that is why it is a stable coin and as others have said, they the exchange can freeze your USDT if anything happens in the process of transaction or other activities so I will only invest in decentralized altcoins which Ethereum also look like one. Though people like USDT because it stable nature and for now all the altcoins which is stable in nature is not in my interest to invest I will look to invest only on unstable altcoins.

Many people use USDT because when they keep they money there and when the price comes down they would not lost much but if it is bitcoin they drastically lost. And USDT is for short term investment though you can use it for long term but short term investors are found in the altcoin more.

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Quote from: mich on November 21, 2023, 02:20:14 AM

I do trust a Stablecoin that I think is doing good deeds. Tether did freeze $225 Million in usdt that the U.S. Department of Justice says is connected to human trafficking.
The blockchain analysis was done by Chainalysis. It is the biggest amount of usdt that has even been froze.
https://beincrypto.com/tether-freezes-human-trafficking-usdt-funds/

But how and who decide that its used for illegal purpose and even if its used for illegal purpose it doesn't mean that all cryptos are used for such activities. Imagine bitcoin having a freeze button in the hands of someone?

Will you still buy bitcoin or prefer that is not centralized?

mich

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I do trust a Stablecoin that I think is doing good deeds. Tether did freeze $225 Million in usdt that the U.S. Department of Justice says is connected to human trafficking.
The blockchain analysis was done by Chainalysis. It is the biggest amount of usdt that has even been froze.
https://beincrypto.com/tether-freezes-human-trafficking-usdt-funds/

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Quote from: Bushdark on November 19, 2023, 05:45:27 AM

We don't have to try any cryptocurrency project because the worse can happen at anytime.

I do try other cryptocurrency project though. But I try with the amount I can afford to lose.
Although, I prefer using USDT in most cases because it has always been pegged.

Topic: Do You trust Tether (USDT) Stablecoin? - page 5. (Read 3297 times)