How safe is Tether.to/USDT? - page 2.

meto012

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Quote from: johnwinds123 on June 12, 2016, 09:49:39 PM

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?

In long term Tether is pretty unpredictable, there are both good reviews and rumors around it.
I believe you can safely put any amount in it for a year at least, but I still would keep an eye on it and news about the company.

Shasha80

sr. member

Activity: 1876

Merit: 318

It is very safe to save the money we have in USDT, because the price is not volatile and very stable. So if we look at cryptocurrency
market capitalization, USDT trading volume is the highest, even USDT volume is above Bitcoin. Because investors trust is quite high
in USDT. I also keep most of my capital in USDT, so there is no need to worry about the crypto market which is currently experiencing
a correction.

MiningBattalion

full member

Activity: 333

Merit: 103

Quote from: bastian466 on September 21, 2020, 12:28:26 PM

Quote from: FTrader on September 21, 2020, 08:45:53 AM

The problem is not the crypto/token asset the real problem is the wallet where you store them. If you store you Tether.to/USDT on a Exchange or unsafe wallet, your are not safe. If you store it in your own wallet, you are in the safest position as you can.

So in essence the security of your money depends on how you keep it, if stored in a safe place it can reduce the risk of thieves,Free to choose a well known wallet and large exchanges. Keep your passwords lest anyone else find out. Increase security to the most level high

USDT was a safe project. Mostlly the price of usdt won't reduce below of 9.99 or 9.98 usd.So you won't lose much in this two coins.If you hold your money in a Locker, it may be stole by thieves, wallet is safer one now then that of Lockers.Don't forgot to save your private key.

bastian466

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Quote from: FTrader on September 21, 2020, 08:45:53 AM

The problem is not the crypto/token asset the real problem is the wallet where you store them. If you store you Tether.to/USDT on a Exchange or unsafe wallet, your are not safe. If you store it in your own wallet, you are in the safest position as you can.

So in essence the security of your money depends on how you keep it, if stored in a safe place it can reduce the risk of thieves,Free to choose a well known wallet and large exchanges. Keep your passwords lest anyone else find out. Increase security to the most level high

leeboy

jr. member

Activity: 105

Merit: 2

It safe enough to use it for everyday trading - short answer. If usdt will collapse then the whole crypto will collapse

TastyChillySauce00

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Quote from: bison on July 24, 2020, 08:33:04 AM

Quote from: bittick on July 24, 2020, 08:23:01 AM

Quote from: Apostlekin$$$ on July 21, 2020, 01:44:18 AM

Not safe for criminals or any illegal activities and fraud money, honestly I just trust USDT more than even BUSD and USDC, it's a matter of choice of course but definitely a bad choice for scammers, hackers and fraudsters

I think so because the stolen amount can be frozen anytime when there was a report about that, if USDT has a very bad reputation like what already accused by some people and it will never be used by a lot of people in all of crypto exchange sites.

some exchanges already have their stable assets or other stable assets that support the daily trader. The USDT may have a large market, but like binance, it has created its stable assets and is now even supported for fiat currencies.

Binance's stable coin or any other exchange's stablecoin is honestly only good at their ecosystem while USDT is the most widely accepted stablecoin till now and have existed for many years without any scam acussation.
It's just a matter of your choice and heavily depends on which exchange you decide to use.

FTrader

newbie

Activity: 32

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The problem is not the crypto/token asset the real problem is the wallet where you store them. If you store you Tether.to/USDT on a Exchange or unsafe wallet, your are not safe. If you store it in your own wallet, you are in the safest position as you can.

wack slacker

full member

Activity: 966

Merit: 102

Right now Tether is safer than any crypto because Bitcoin and Altcoins are bleeding. The market goes down is when Tether is chosen by everyone to be the best shelter.
We often think that Tether is only guaranteed 70% of value based on the dollar but everyone uses Tether so it's liquidity is good and safe.

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

Quote from: mich on September 21, 2020, 01:35:29 AM

Tether is very safe and price stays at $1.
I am a holder of it as stable coin.
With market cap increase 4x in 2020 to 15$ billion, thanks to the surging DeFi sector.
https://cointelegraph.com/news/tether-market-cap-increases-almost-4x-in-2020-to-15-billion

You are free to put your trust in any asset and I am not going to say anything against it. Your money, and so no one has the right to say anything against your decision. But there is no such thing as a "trusted" or "safe" resource in the world of cryptocurrency. We realized this many times, when exchanges such as Mt Gox, BTC-e, Wex.nz and Cryptopia went down all of a sudden. Now USDT is nothing more than a token which is issued by the Bitfinex exchange. Do you think that we can trust this token more than the exchange which is issuing it?

Google+

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Quote from: ruli stylon on September 21, 2020, 02:17:52 AM

So far I have never saved USDT to Tether. I prefer to save it on erc20 or in an exchange which of course the legality of the market has been recognized in the country.

And so far I feel safe, depending on how we protect our assets.

There are many advantages when you store it in an exchange because we can use it for trading and instantly get a lot of profit when the market conditions are good, so instead of waiting for a very long process to send USDT to an exchange it is better to keep it in an exchange wallet.

ruli stylon

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So far I have never saved USDT to Tether. I prefer to save it on erc20 or in an exchange which of course the legality of the market has been recognized in the country.

And so far I feel safe, depending on how we protect our assets.

mich

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Tether is very safe and price stays at $1.
I am a holder of it as stable coin.
With market cap increase 4x in 2020 to 15$ billion, thanks to the surging DeFi sector.
https://cointelegraph.com/news/tether-market-cap-increases-almost-4x-in-2020-to-15-billion

jacafbiz

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Very safe. Tether is one project that people failed to give the due credit it deserves in this space, Tether team has been here during the thick and the thin period and have served the space well. I believe it is the best Stable coin in the space forget the FUD, people do not ask questions when USDC hit $1 Billion marketcap but spread the FUD when Tether did, just do not understand

ampu

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Quote from: KimmyF on July 31, 2020, 06:00:42 PM

Tether is one of the top stablecoin, coinmarketcap volume is much higher than 10k USD. Bitcoin fluctuations are now more interesting than before, you can earn from them. The Tether has been a very old stablecoin since 2014. Centralized exchange has only two problems KYC and no control on your funds. To save your information in centralized exchange, you can't withdraw the whole money at one time.

I agree with your point of view. Although there are many stable coins currently available, tethers are the most popular of the trading pairs and have better liquidity than other stable coins. Compared to previous years, tether has issued more than 13 billion tethers, which helps investors to choose as a shelter when the market has bad signals.

Eco_111

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It's centralized, if that's what you feared then use DAI instead but I'm more satisfied with USDT, the highest time I've hold USDT is just 5 months and no issue or whatsoever, the choice is yours to make though

mich

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How is Tether helping Bitcoin’s demand?

“Given that, on average in the last seven days, a Tether received by the median large exchange is traded 19 times, Tether is supporting tens of billions of dollars of liquidity a day.”

https://eng.ambcrypto.com/how-is-tether-helping-bitcoins-demand/

Gunday_07

member

Activity: 280

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Tether is reliable than other stable coins apart from BUSD from binance exchange, forget the centralized thing that many are complaining about, tether gives me peace of mind than others and I'm not into any illegal activities so tether is good enough for me

mich

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Tether on a tear as market cap hits $11 billion

Record BTC and USDT inflows push market cap up nearly a half a billion dollars as on-ramps for crypto get more traffic.

https://decrypt.co/37636/tether-on-a-tear-at-market-cap-hits-11-billion

KimmyF

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Tether is one of the top stablecoin, coinmarketcap volume is much higher than 10k USD. Bitcoin fluctuations are now more interesting than before, you can earn from them. The Tether has been a very old stablecoin since 2014. Centralized exchange has only two problems KYC and no control on your funds. To save your information in centralized exchange, you can't withdraw the whole money at one time.

bitkanu

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Quote from: Bitbtc8 on July 30, 2020, 12:57:42 AM

If you are so worried that something can happen to USDT some day you can swap for BUSD or DAI Stable coins, I don't see reason to anyway so I will continue using USDT for trading and holding stable coin, USDT is the best

I have the same opinion as you. We know that the USDT holders never encounter a serious problem when all of their funds were not coming from steal from others or another criminal act.

USDT is also the safe choice right now consider it has traded anywhere and it has a very huge volume. There was a lot of options for USDT too.

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