I would say that I got confused about Tethers salty after their last saga of minting 5billion USdt out of nowhere. It only means that they don't have any specific total supply and could mint any amount of token at anytime which is not safe for cryptocurrency in general
yes, that's what happened. this is a stable asset, and it will not be different from fiat money. they are free to duplicate and re-create the amount that exists and circulates in the market. but I think developers will definitely calculate how to control prices so they don't become too expensive or too cheap. 
Topic: How safe is Tether.to/USDT? - page 10. (Read 7137 times)
Hi everyone,
I'm just wondering about people's opinions on how safe is Tether.to/USDT? In terms of putting largish amount of money in there ($10k+), what is the risk of the service going out of business, or not honoring withdrawals? I.e. what is the risk of another Mt Gox, Mintpal or Cryptsy incident on here?
I can see that it still says "Beta" on the main page, and that it's a Hong Kong outfit. Not sure what kind of financial regulation/overwatch they have over there when it comes to these things.
I guess other little warning bells are that they don't have an easily accessible support link on their user interface (you can however email [email protected]), or at least I couldn't easily find it.
Is there a safer way (which is still easy and cheap) to park some USD while BTC is going through it's fluctuations?
Thanks
I'm just wondering about people's opinions on how safe is Tether.to/USDT? In terms of putting largish amount of money in there ($10k+), what is the risk of the service going out of business, or not honoring withdrawals? I.e. what is the risk of another Mt Gox, Mintpal or Cryptsy incident on here?
I can see that it still says "Beta" on the main page, and that it's a Hong Kong outfit. Not sure what kind of financial regulation/overwatch they have over there when it comes to these things.
I guess other little warning bells are that they don't have an easily accessible support link on their user interface (you can however email [email protected]), or at least I couldn't easily find it.
Is there a safer way (which is still easy and cheap) to park some USD while BTC is going through it's fluctuations?
Thanks
Ive been trading USDT in binance for a quite some time, and i never experienced any difficulties regarding my deposits and withdrawals, but of course we have different experienced and expectation to a coin, but most of the time that i used this coin, i never had any problems at all, i dont know the others, but this is just based on my own experienced. Among all stable coins, id still recommend USDT.
I would say that I got confused about Tethers salty after their last saga of minting 5billion USdt out of nowhere. It only means that they don't have any specific total supply and could mint any amount of token at anytime which is not safe for cryptocurrency in general
I have long been using usdt and never had problems with the fact that the coin did not reach and so on , a lot of negativity about this coin but I think not reasonable , I keep a lot of money in the usdt and do not worry about it.
Negativity about usdt has a fair point. Their audit report is doubtful , they say they keep in real estates and bitcoins , there s not details about this. Only talking about keeping in usd reserves is not really cutting the point. and the most strange thing is they just keep on minting tokens as they like . Its like they are holding bitcoins , then minting more to pump again bitcoin price. Its fairly been established Tether s used for pumping btc price big time
Most of the crypto traders convert their coins to ustd in crypto crash or crypto volatility . but Tether and Bitfinex has dispute in their transaction which kept tether token in rummor speculation it is better to diversfy in Ustd tokens
With that USDT already had so many negative news and scandals that I just decided not to use this coin for myself until the competent authorities give their conclusion. I do not want to risk it.In addition, there are many other stablecoins that are really backed up by the dollar
I don't see any reason why you should be thinking of holding USDT for long term, because it's a stable coin and the price never changes so I doubt you would be making any profits anytime soon... Tether is meant to be held temporarily in my opinion, just something you convert to while waiting for other coins you are trading to stabilize.
Never heard of tether.to, may be it is a scam site. Why don't you use an exchange to convert those into usdt. I think it's available in various exchange as well as swap websites.
Unfortunately, I would say, tether is not safe at all.
Also, why would you want to park your usd in tether while btc fluctuates?
Wouldn't you rather actively trade to take advantage of those fluctuations.
Also, why would you want to park your usd in tether while btc fluctuates?
Wouldn't you rather actively trade to take advantage of those fluctuations.
Those who parked their BTC in Tether during the last ATH would be telling you that they could by 6 times more BTC back when it was at $3k a few months ago. And anyone who parked in Tether 2 weeks ago would be very happy to buy BTC yesterday at 9.2k.
It's all a matter of perspective but you're right. I would never trust Tether longer than a few seconds.
Many traders convert btc to Tether when btc goes down, I consider it very secure but I normally switch to Pax because its value is always the same or very similar to the value on Bitmex
I don't advice you to convert your alt coins to usdt as it is not fully backed by asset as they claimed. They just printed 5 billion usdt and it's not a good sign. Instead convert your alt coins to USDC or Dai because it's much safer and reliable compared to Usdt.
That's a very good suggestion, I will choose USDC. For conversions from altcoin to USDC, because in my opinion USDC is one of the stable coins that is safe. And now I save all my assets in USDC. Maybe someone can use this suggestion for those who want to secure their assets because the crypto market is not good.I don't advice you to convert your alt coins to usdt as it is not fully backed by asset as they claimed. They just printed 5 billion usdt and it's not a good sign. Instead convert your alt coins to USDC or Dai because it's much safer and reliable compared to Usdt.
That's a very good suggestion, I will choose USDC. For conversions from altcoin to USDC, because in my opinion USDC is one of the stable coins that is safe. And now I save all my assets in USDC. Maybe someone can use this suggestion for those who want to secure their assets because the crypto market is not good.
I don't advice you to convert your alt coins to usdt as it is not fully backed by asset as they claimed. They just printed 5 billion usdt and it's not a good sign. Instead convert your alt coins to USDC or Dai because it's much safer and reliable compared to Usdt.
I no longer think tether is safe after they recently minted about 5billion usdt out of nowhere and then burnt it. That wasn't a good News for tether as that shows a huge red flag. I hope they can make better explanation and correct what just happened
Hi everyone,
I'm just wondering about people's opinions on how safe is Tether.to/USDT? In terms of putting largish amount of money in there ($10k+), what is the risk of the service going out of business, or not honoring withdrawals? I.e. what is the risk of another Mt Gox, Mintpal or Cryptsy incident on here?
I can see that it still says "Beta" on the main page, and that it's a Hong Kong outfit. Not sure what kind of financial regulation/overwatch they have over there when it comes to these things.
I guess other little warning bells are that they don't have an easily accessible support link on their user interface (you can however email [email protected]), or at least I couldn't easily find it.
Is there a safer way (which is still easy and cheap) to park some USD while BTC is going through it's fluctuations?
Thanks
I'm just wondering about people's opinions on how safe is Tether.to/USDT? In terms of putting largish amount of money in there ($10k+), what is the risk of the service going out of business, or not honoring withdrawals? I.e. what is the risk of another Mt Gox, Mintpal or Cryptsy incident on here?
I can see that it still says "Beta" on the main page, and that it's a Hong Kong outfit. Not sure what kind of financial regulation/overwatch they have over there when it comes to these things.
I guess other little warning bells are that they don't have an easily accessible support link on their user interface (you can however email [email protected]), or at least I couldn't easily find it.
Is there a safer way (which is still easy and cheap) to park some USD while BTC is going through it's fluctuations?
Thanks
it is absolutely not safe, it's just candy wrappers that give out for a dollar, I try to spend less time trading to usdt, but alas, on some top exchanges, trading to the US dollar is closed (
Tether or USDT is a kind of stable coin, isn't it? Actually, it is quite safe to bold, but of course, it may not give you big profits. However, about safe or not, I think every coin has a different chart of their security systems. And so far, there are no big negative issues about it.
There is a drama on USDT, that only 74% of USDT printed from USD or other monetary funds stored in banks. It means there is an assumption that BTC might drop around 30 percent from its current price. However, it is a drama, and I don't believe BTC will fall like this.
Tether is "safe" as long as you are only using it as a temporary hedge against the altcoin market during its dumps for example when you want to dump your altcoins to get a fiat value and keep it until the dump ends. as long as the duration is not that long (preferable less than a day) i'd say the risks are low.
also another usage would be to transfer value between exchanges.
anything other than that, such as storing it for long term, storing large amounts of money in it,... is the worst idea that you can have. because Tether may not look it but it is really shady and we all know it is centralized and because of that it is very possible that it can disappear some day without warning.
also another usage would be to transfer value between exchanges.
anything other than that, such as storing it for long term, storing large amounts of money in it,... is the worst idea that you can have. because Tether may not look it but it is really shady and we all know it is centralized and because of that it is very possible that it can disappear some day without warning.
Hi everyone,
I'm just wondering about people's opinions on how safe is Tether.to/USDT? In terms of putting largish amount of money in there ($10k+), what is the risk of the service going out of business, or not honoring withdrawals? I.e. what is the risk of another Mt Gox, Mintpal or Cryptsy incident on here?
I can see that it still says "Beta" on the main page, and that it's a Hong Kong outfit. Not sure what kind of financial regulation/overwatch they have over there when it comes to these things.
I guess other little warning bells are that they don't have an easily accessible support link on their user interface (you can however email [email protected]), or at least I couldn't easily find it.
Is there a safer way (which is still easy and cheap) to park some USD while BTC is going through it's fluctuations?
Thanks
I'm just wondering about people's opinions on how safe is Tether.to/USDT? In terms of putting largish amount of money in there ($10k+), what is the risk of the service going out of business, or not honoring withdrawals? I.e. what is the risk of another Mt Gox, Mintpal or Cryptsy incident on here?
I can see that it still says "Beta" on the main page, and that it's a Hong Kong outfit. Not sure what kind of financial regulation/overwatch they have over there when it comes to these things.
I guess other little warning bells are that they don't have an easily accessible support link on their user interface (you can however email [email protected]), or at least I couldn't easily find it.
Is there a safer way (which is still easy and cheap) to park some USD while BTC is going through it's fluctuations?
Thanks
Tether is now the stablecoin with the biggest cap, over $ 3 billion, so I think your $ 10k compared to the amount they have is very small. If they go bankrupt, many people die before you j/k
nothing is really safe when you are in the crypto scope.
everything can happen and if there is a fluctuation in bitcoin it is natural and depends on how we react.
everything can happen and if there is a fluctuation in bitcoin it is natural and depends on how we react.
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