Topic: Don't trust Tether (USDT), it's very dangerous! - page 2. (Read 149 times)
Years ago, I remembered that the price of USDT went down, and it was all because of the news about the printing of USDT and not really backing it up with 1:1 USD. They had problems with audits and had somehow delayed anything with it. I remember them burning USDT, but they claim that it wasn't related to it whatsoever. We won't really know unless it happens already. Right now, the majority of traders are using it as well. If we are talking about all stable coins, I would recommend USDC, though.
A well known stablecoin is Tether (USDT) and it has reached already a very high position on Coinmaketcap. Stablecoin suggests "stable" but it doesn't mean it is safe.
Nobody really knows if all USDT ist backed 1:1 by USD.
Wikipedia writes:
People holding USDT have a risk if USDT collapses to lose funds. Keep in mind, you should avoid USDT because people owning it have a high risk of holding a potentially fraudulent coin.
It is very concerning to see such fraudulent coins at such high positions at Coinmarketcap.
Nobody really knows if all USDT ist backed 1:1 by USD.
Wikipedia writes:
Quote
On 30 April 2019 Tether Limited's lawyer claimed that each Tether was backed by only $0.74 in cash and cash equivalents.
https://en.wikipedia.org/wiki/Tether_(cryptocurrency)People holding USDT have a risk if USDT collapses to lose funds. Keep in mind, you should avoid USDT because people owning it have a high risk of holding a potentially fraudulent coin.
It is very concerning to see such fraudulent coins at such high positions at Coinmarketcap.
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