Topic: Do you trust USDT? - page 29. (Read 7100 times)
USDT is very useful for me in trading, I use the stable coin to avoid loss in bitcoin value and I buy back at cheaper rate, its a very handy stable coin and one of the most popular, just because its centralized doesn't mean its scam although we have better options that are Decentralized
Of course, to this day I still believe in the USDT because for me this project is a project that has been long and stable in price, but we should not believe 100% with all projects even though they are large it does not reject the possibility they will scam
USD Tether is a Bitfinex issued ERC-20 token which is claimed to be backed by dollar at 1:1 ratio. There are controversial opinions about this and some say it's a scam.
Do you trust USDT or believe it might be a scam?
Definitely it is not a scam but it may get collapsed at any time when more number of people cashing out their tether savings. I highly doubt about their reserve funds at the ratio of 1:1. They had stopped their transparent auditing functionality of their bank accounts which were held in Bahama islands. I am sure like most governments in the world, tether also must be having more circulating volume than the worth of their actual reserve funds.Do you trust USDT or believe it might be a scam?
I am currently not holding any tether but my exchange uses it for P2P trading. I hear many people are using tether for locking their profits of cryptos. You agree or not after the introduction of tether, people are able to short bitcoins even in the spot trading.
I am not so sure that USDT is really backed up 1: 1 with real dollars. I was able to get some information that the USDT actually backed up was only 70% of the current total allocation. many people have pros and cons arguments about this. so I chose to hesitate rather than trust 100%.
They are not, they run on "fractional reserves", just like banks.
Quote
Fractional-reserve banking is the most common form of banking practised by commercial banks worldwide.[1] It involves banks accepting deposits from customers and making loans to borrowers, while holding in reserve an amount equal to only a fraction of the bank's deposit liabilities.
https://en.wikipedia.org/wiki/Fractional-reserve_banking
They even refused to be audited, so how can you trust a services like that? The people behind are very shady as hell, so used them at your own risk.
USD Tether is a Bitfinex issued ERC-20 token which is claimed to be backed by dollar at 1:1 ratio. There are controversial opinions about this and some say it's a scam.
Do you trust USDT or believe it might be a scam?
USDT is the most favourite stable coin for crypto traders and it has the highest trading volume compared to other stablecoins so I think its safe but Decentralized stable coins are better e.g DAI Do you trust USDT or believe it might be a scam?
DAI is different than all others. It is completely decentralized and its price may fluctate sometimes.
But it based on Dao Makers DeFi platform. So there will be reserve behind it. DeFi colleteral will keep it safe all the time.
USDT is different. I like it also. But if I have to choose one, I always choose DAI.
USD Tether is a Bitfinex issued ERC-20 token which is claimed to be backed by dollar at 1:1 ratio. There are controversial opinions about this and some say it's a scam.
Do you trust USDT or believe it might be a scam?
It's no gainsaying that so many folks use USDT and it has more users than any other stablecoin, perhaps because it was the first to be issued, which came as a result of the swap of realcoin. There have been a lot of controversies about it. A lot of things are until now, not clear. Such as an official audit, to truly shows that they have US Dollars in reserve, for every USDT that has been minted. However, I use it, but do not totally rely on it. In a bid to ensure that I do not become a victim to whatever unseen circumstances that may come up in future, I do not use it to hold down my fund for a long time. Do you trust USDT or believe it might be a scam?
USD Tether is a Bitfinex issued ERC-20 token which is claimed to be backed by dollar at 1:1 ratio. There are controversial opinions about this and some say it's a scam.
Do you trust USDT or believe it might be a scam?
USDT is the most favourite stable coin for crypto traders and it has the highest trading volume compared to other stablecoins so I think its safe but Decentralized stable coins are better e.g DAI Do you trust USDT or believe it might be a scam?
The presence of the USDT only helps traders, because it is easier to move between exchanges to other exchanges, when compared with fiat. For now, I still believe in USDT, but I don't keep my money there for too long. IMO if you have some money and don't want high volatility, I think keeping it in a bank is better. The USDT is a stable token that is centralized, and I don't know the fiat reserves they hold, but the USDT volume is greater compared to other crypto assets, so far it is still safe to save money on USDT. -IMO-
compare to other stable coins ? yes ofc man i fully trust this brand becuase i am more familiar with it . not just me but im sure many people are also familiar with usd becauase it was always listed on many exchanges . people also speculate this coin on this forum and recomend it to others for those who are dont like the volatile nature of cryptos . i dont doubt its security if this coin will turn into a scam or not but i believe they wont . why would they scam if they are already indemand and earning huge ?
I believe that, because the 1: 1 ratio can be seen from the price of USDT that tends to always be at $ 1. I believe that usdt will really be a stable crypto and worth the same amount in dollars.
I constantly make exchanges from various cryptocurrencies in USDT and I often have USDT in my portfolio and I don’t have any problems and I don’t think that something will happen, therefore, as I trusted USDT, I will trust in the future, so you can work with USDT without worrying.
From the past that I was still day trading coins like ADA, I managed to stumble upon this USDT. I thought it was like any other altcoins you would see in the market that is specialized to be day traded. Turns out it is a stable currency after all.
It has been existing and resisting for the past a year already, and I just trusted the coin way too late already because of fear. This is where most traders put their profits so that instability will not screw up their trades.
Personally, I trust USDT.
It has been existing and resisting for the past a year already, and I just trusted the coin way too late already because of fear. This is where most traders put their profits so that instability will not screw up their trades.
Personally, I trust USDT.
Scam or not, right now it is the only option to hedge during a severe market downturn - case in point, Bitcoin dipped from 10k+ to 9.8k an almost 4% drop in the market can really do wonders to your portfolio. So I'd say among the available stable coins, it's probably the most patronized and that's some credit to credibility. So yes, I do trust USDT.
USDT is a place for temporary asset parking while waiting for the market to return to bullish. so we can buy at cheap prices. but this coin is not suitable for investment, because there is no increase in price and tends to be stable even when the market is bearish
A little less suitable if we mention the USDT is a place to park our assets, because USDT is a stable token so the decline is not so much and the rise is not so much, so there is no cheap word on tokens like that. 
USD Tether is a Bitfinex issued ERC-20 token which is claimed to be backed by dollar at 1:1 ratio. There are controversial opinions about this and some say it's a scam.
Do you trust USDT or believe it might be a scam?
Do you trust USDT or believe it might be a scam?
If it's actually a scam I think it would have been ignored at least it isn't the only stable coin in the crypto space. However, am not disputing the fact that they have some unanswered questions begging for answers, and these unanswered questions points to or rather gives everyone the impression they have something they are hiding which isn't good in any way.
Now about if I trust them, I would rate the trust on a 60% owing until all is cleared. Nevertheless, I still trade with it every now and then, and I also store most of my earnings in it.
USD Tether is a Bitfinex issued ERC-20 token which is claimed to be backed by dollar at 1:1 ratio. There are controversial opinions about this and some say it's a scam.
Do you trust USDT or believe it might be a scam?
I do not trust USDT absolutely. But to be honest, this is the best stablecoin and has the best liquidity in this market. Almost everyone uses it so I think that there won't be any major problems, If you are looking for stablecoins, this would be the best option Do you trust USDT or believe it might be a scam?
USDT is not the only stable coin to discuss it. If you feel unsafe with the USDT then you could consider trading with other popular stable coins like USDC and TUSD which has a volume of around 400 Million and 140 M respectively or even the BUSD native stable coin in Binance.
All this fud around it is harmful for the industry. If tether will leave the market we will see great dumps of everything
I am not so sure that USDT is really backed up 1: 1 with real dollars. I was able to get some information that the USDT actually backed up was only 70% of the current total allocation. many people have pros and cons arguments about this. so I chose to hesitate rather than trust 100%.
USD Tether is a Bitfinex issued ERC-20 token which is claimed to be backed by dollar at 1:1 ratio. There are controversial opinions about this and some say it's a scam.
Do you trust USDT or believe it might be a scam?
Do you trust USDT or believe it might be a scam?
Strange, but as the number of stable coins on the market increases, my trust in Tether increases. So they're doing something right, more are coming into the market.
Still, it would be nice if they were still a little bit more transparent.
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