Topic: How safe is Tether? (Read 1792 times)
Tether is a very safe place to exchange from altcoins.
all most everything is risk so the tether is also risky. put that in mind.
Tether is a token with proof of reserve concept. Algo work on 1:1 it means when we deposit 1$ to the tether then they will launch new tether into the market. i am confused how to we can believe on single bank which holds our deposits. If any thing happen with the bank how tether will exchange USDT to USD. All crypto's are on the developing face so we need to wait until they becomes developed....
I somehow trust tether than other crypto right now. It has a big volume on binance which shows that there are many traders that are using it as a pair to their trades. having a value of 1$ per coin and maintaining it's value on this bearish market is outstanding.
Why we have to trust this coin means the value will always stable at $1 and this is good for trading. But holding our profit in USDT for a long time is not safe. end of the day this is also one cryptocurrency so anything can happen. but yes we have to appreciate one thing on this bearish market it maintained the value it's great.
for me tether is not safe at all, its better if you walk away and choose another ico project besides tether, for me tether is another scam.
I have to admit I am using Tether at times to hold before trading back in to the main coins such as Bitcoin or Ethereum. I am doing this on Binance and it seems useful as a hedge. Maybe it is time to change out to FIAT instead, I wish the situation was clearer.
How safe is it to hold your money in tether? It's based in Hong Kong and some of the terms and conditions are cringey. If something were to happen to it do you think polo and bittrex would honor your money some how?
There are different opinions on Tether situation.I personally do not belive to this crypto, because their bank statments are just papers and they even to not have its own blockchain
I would not reccoment to to keep money in Tether, but it is my view.
I somehow trust tether than other crypto right now. It has a big volume on binance which shows that there are many traders that are using it as a pair to their trades. having a value of 1$ per coin and maintaining it's value on this bearish market is outstanding.
There are too many rumors about tether but i know that they burned some coins and now it looks legit to me.
But i never hold any tether for now and i will not hold i prefer to turn fiat rather then tether.
Sometimes i use to trade BTC-USDT but not very frequently.
But i never hold any tether for now and i will not hold i prefer to turn fiat rather then tether.
Sometimes i use to trade BTC-USDT but not very frequently.
Someone told this cost must 1 USD but i see 0.99 Usd.
Main problem is was not yet cleared if all the coin minted were backed by cash. Plus the fact bitfinex basically own it and may have used it to push the price up artificially is not very encouraging.
There are a lot of troubled stories related to this crypto currency, so I do not buy it yet. It is unclear why it was created and what benefits it brings. Maybe this is a kind of spy in the crypto world as well as the ripple
There is no such thing as trust or guarantee in the crypto money world. Follow well, interpret and invest in graphics.
And from 0.9854 to 0.9936 USD again, while nobody is able to validate if they can cash out for USD. Everyone's hiding there?
Hope you're out then if/before the US government takes action.
Hope you're out then if/before the US government takes action.
I believe Tether just received an inquiry from the Federal Agencies in the US. Their auditors just pulled out and they have been printing tethers into the systems for months now.
With just pulled out meaning just a few minutes ago? hours? days?
All those services, development etc.. costs money. Tether will never be able to deliver 1 Tether = 1USD, it is just not mathematically and economically possible.
Yes that raises questions. I mailed them some time ago if their employers all worked for free, but it wasn't answered
Just think of it, USD and USDT differ only one letter, and the USD is being printed without backup since 1971. And most if not all currency use the USD as backup atm.
Maybe the most important thing is that USDT is still being bought at this moment. There are minor variations in the USD/USDT rate, but none reflect the massive withdraw from that USDT coin. Actually there was a drop about 8-9 hours ago to +/- 0,96-0,97 (+/- 1ct depending on the chart), but it has recovered from that and is now back close to 0,99+. Someone is covering for USDT by buying them?
I believe Tether just received an inquiry from the Federal Agencies in the US. Their auditors just pulled out and they have been printing tethers into the systems for months now.
All those services, development etc.. costs money. Tether will never be able to deliver 1 Tether = 1USD, it is just not mathematically and economically possible.
All those services, development etc.. costs money. Tether will never be able to deliver 1 Tether = 1USD, it is just not mathematically and economically possible.
I am also wondering about Tether. I read a few articels about it and did not get a solid anwser about his saftey.
Just quoting this because exactly this has not changed. Whether or not USDT holds it's value, the people behind have to do better to keep this up. As soon as speculation arises that they might not hold the exact amount of USD, at any time, they should be able to provide evidence, e.g. an audit by (preferably) an authority, to suppress that kind of sentiment. Now the media is creating their own story just the way they like it, because adequate information on this is not well provided.
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Each tether issued into circulation will be backed in a onetoone ratio with the equivalent amount of corresponding fiat currency held in reserves by Hong Kong based Tether Limited. As the custodian of the backing asset we are acting as a trusted third party responsible for that asset. This risk is mitigated by a simple implementation that collectively reduces the complexity of conducting bothfiat and crypto audits while increasing the security, provability, and transparency of these audits.
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The provability of DUSD (dollarUSD=tetherUSD) will rely on several processes:
■ We publish the bank account balance on our website’s Transparency page.
■ Professional auditors will regularly verify, sign, and publish our underlying bank
balance and financial transfer statement
■ We publish the bank account balance on our website’s Transparency page.
■ Professional auditors will regularly verify, sign, and publish our underlying bank
balance and financial transfer statement
Their last audit was in September 2017, which showed the exact amount of USD on that bank account. However the fact that there's USD in a bank account tells nobody anything about there being an option to cash out USDT for USD.
Be very careful about Tether. I cannot confirm myself whether the articles that I have read about the Tether issue are true or not but I think it will at least serve as some sort of a precautionary warning to dig deeper about the truth behind it. I think I have only used Tether once or twice. I would rather see my portfolio's value go down with Bitcoin rather than be stable with something that is not 100% secure. At least I know that with Bitcoin, it will rise after some dumps.
it's always stable, but i wouldn't put my money in it for long term.
i will store my money in it for day or 2 to wait the the correction of other coins and then buy in again.
in crypto nothing is impossible.
i will store my money in it for day or 2 to wait the the correction of other coins and then buy in again.
in crypto nothing is impossible.
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