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
The first thing you should know about cryptocurrency Investing is that, it comes with its own risks and one of the best ways to reduce this risks is by keeping large funds outside exchanges and into your personal wallet. Secondly, I don't know the type of exchange you are referring to but major exchanges have been trying their best to maintain their integrity, so if you buy there is every tendency you will withdraw. Lastly, talking about Tether mainly, it has been around for years and the only reason it keeps growing is because people have come to trust it, so I think there is nothing like going out of business because many people are now involved. In addition, the only safer way is to buy from exchanges that are trustworthy.