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Topic: How safe is Tether.to/USDT? - page 5. (Read 7137 times)

legendary
Activity: 3248
Merit: 1179
July 07, 2020, 06:50:56 AM
Tether is highly popular and is accepted on almost every exchanges. I'd have been madly in love with it if it just made it clear that they hold the amount of dollar bills equal to the coins they mint. They have been accused of falsely minting token and their answer is even more confusing. I'm no expert and if a lot of good exchanges are using it as a primary stalbcoin, I'd have not much choice.

And its good only for that, to bypass some trade, to save your dollar value when the value of crypto is going down. Its good for that because its imitate dollar and its good for all of us, its crypto but in the same time its a dollar. Its good for trading and only for that, for sure its not good for buying it and keeping it for a long run.
full member
Activity: 948
Merit: 105
July 07, 2020, 04:55:46 AM
Tether is highly popular and is accepted on almost every exchanges. I'd have been madly in love with it if it just made it clear that they hold the amount of dollar bills equal to the coins they mint. They have been accused of falsely minting token and their answer is even more confusing. I'm no expert and if a lot of good exchanges are using it as a primary stalbcoin, I'd have not much choice.
member
Activity: 434
Merit: 19
July 07, 2020, 03:02:56 AM
Usdt is safe enough for me, though I don't use it for long term hold but it's my favorite for trading, whether it's centralized or not it does the job well, moreover it's the highest marketcap stablecoin and it's available on Tron network as well, not just ERC20
legendary
Activity: 3122
Merit: 1032
#1 VIP Crypto Casino
July 07, 2020, 02:07:32 AM
Tether’s Booming Popularity in China Sparks a New Wave of Crypto Crackdowns

Tether (USDT) has seen massive inflows of capital throughout 2020, with much of this coming about not as a result of turbulence within the crypto market, but rather due to that seen in the traditional markets.

https://www.newsbtc.com/2020/07/06/china-sees-new-wave-of-crypto-crackdown/
legendary
Activity: 3122
Merit: 1032
#1 VIP Crypto Casino
July 03, 2020, 07:51:21 AM
Tether market capitalization surges close to $10 Billion

Tether is still the only stablecoin with a market capitalization greater than $1 billion.

https://nairametrics.com/2020/07/02/tether-market-capitalization-surges-close-to-10-billion/
legendary
Activity: 3122
Merit: 1032
#1 VIP Crypto Casino
July 01, 2020, 12:14:01 AM
Tether: Challenging the USD’s Hegemony, Championing CBDC and Beyond

Exploring six major points regarding Tether’s impact on geopolitics and the future development of sovereign digital currency.

https://cointelegraph.com/news/tether-challenging-the-usds-hegemony-championing-cbdc-and-beyond
newbie
Activity: 16
Merit: 3
June 30, 2020, 06:29:35 AM
It's a good question. I'm thinking to add some thoughts from this thread to my article about Teather https://defiwiki.org/wiki/Tether_(USDT)
full member
Activity: 1904
Merit: 138
★Bitvest.io★ Play Plinko or Invest!
June 30, 2020, 02:08:19 AM
It is safe until regulators come and regulate it Smiley. That means that even Tether as a company is legit, you bet that future will be friendly for Tether. But everyone who created own money was punished in history, so think about it in this way Smiley.
have you seen the problem that faced by tether? even tether has been getting a big problem and tether can pass it. Regulators are interesting to issue their own digital currency.
Tether issues more money based on its dollar supply.

You believe it or not, there is a lot of spoofy are lying under Tether industry, you may know around 31 million worth of USDT were stolen on November 2017, there are too many controversies are fluting on online about Tether money. I don't know any other stable coin which has so much fuss at the market like USDT.


Also, last year Tether admitted that they are not fully backed by USD assets. So right now, we don't know if they are already saying the truth about their assets. So just be careful in holding this stable coin. Only time will tell what another breaking news they will inform the public.

https://www.bloomberg.com/news/articles/2019-04-30/tether-says-stablecoin-is-only-backed-74-by-cash-securities
legendary
Activity: 2884
Merit: 1115
Leading Crypto Sports Betting & Casino Platform
June 30, 2020, 01:40:37 AM
It is safe until regulators come and regulate it Smiley. That means that even Tether as a company is legit, you bet that future will be friendly for Tether. But everyone who created own money was punished in history, so think about it in this way Smiley.
have you seen the problem that faced by tether? even tether has been getting a big problem and tether can pass it. Regulators are interesting to issue their own digital currency.
Tether issues more money based on its dollar supply.

You believe it or not, there is a lot of spoofy are lying under Tether industry, you may know around 31 million worth of USDT were stolen on November 2017, there are too many controversies are fluting on online about Tether money. I don't know any other stable coin which has so much fuss at the market like USDT.
newbie
Activity: 34
Merit: 0
June 30, 2020, 12:38:35 AM
I read the name of the topic with a smile, how long ago it was. Tether has shown himself well in recent years. But they print too many new coins. I was disappointed in him. Now I plan to purchase other stablecoins, like eurg
legendary
Activity: 3108
Merit: 1029
June 22, 2020, 09:22:34 PM
It is safe until regulators come and regulate it Smiley. That means that even Tether as a company is legit, you bet that future will be friendly for Tether. But everyone who created own money was punished in history, so think about it in this way Smiley.
have you seen the problem that faced by tether? even tether has been getting a big problem and tether can pass it. Regulators are interesting to issue their own digital currency.
Tether issues more money based on its dollar supply.
legendary
Activity: 3122
Merit: 1032
#1 VIP Crypto Casino
June 22, 2020, 03:19:03 AM
Tether’s USDT Stablecoin Grows Faster on Compound Protocol than Others, Has Potential to Streamline Cross-Border Payments: Report

“USDT has grown faster than all rival offerings on the Compound protocol… Some of the USDT investors indirectly interact with the Compound protocol, which focuses on establishing money markets that are a pool of assets with algorithmically derived interest rates.”

https://www.crowdfundinsider.com/2020/06/163002-tethers-usdt-stablecoin-grows-faster-on-compound-protocol-than-others-has-potential-to-streamline-cross-border-payments-report/
sr. member
Activity: 854
Merit: 264
Crypto is not a religion but i like it
June 19, 2020, 06:26:30 AM
Quote
what is the risk
There is always a risk, but no one can tell you exactly which one. We are in crypto space. I think that you can keep this amount of money, usdt is the most popular stablecoin
copper member
Activity: 966
Merit: 14
June 19, 2020, 06:01:11 AM
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.
full member
Activity: 896
Merit: 102
June 19, 2020, 05:48:11 AM
It is safe until regulators come and regulate it Smiley. That means that even Tether as a company is legit, you bet that future will be friendly for Tether. But everyone who created own money was punished in history, so think about it in this way Smiley.
jr. member
Activity: 198
Merit: 2
June 19, 2020, 05:06:36 AM
I won't say very safe, but i would state that the advantages of usdt is top notch, and is more than its disadvantages.

On a scenario, with USDT, you have an opportunity to avoid a dump, by selling your btc, or etherum to usdt pairs.
But on another scenario, staying and too comfortable in usdt could lead you to miss out on a potential pump.

You ability and speed to move in and out of usdt will prove pivotal in defining how safe tether or usdt for each individual.
hero member
Activity: 2282
Merit: 505
June 19, 2020, 04:31:50 AM
I'm not sure how safe tether is I've been hearing fud for as long as I can remember. It has been around for a few years but I would rather use usdc or some other option in case something goes wrong my concern would be they don't have the actual dollars to back the coins
If they don't have enough USD to convert to USDT, I believe they will soon collapse. In 2019 I saw a few FUDs like that for USDT, but fortunately they overcame it and the price just collapsed slightly. Hopefully this will never happen again
We will see what will be the next update that will be released by tether about how much dollars were available on their wallet. As far as i know if that was also using another collateral to backed the price of tether too.
legendary
Activity: 3122
Merit: 1032
#1 VIP Crypto Casino
June 19, 2020, 01:55:35 AM
Tether strongly correlates with future returns on major crypto pairs

“As a matter of fact, a simple trading strategy based on a long-short portfolio generates significant outperformance with respect to naive, commonly used, investments in the cryptocurrency space such as an equal-weight portfolio and a buy-and-hold position on BTC.”

https://eng.ambcrypto.com/tether-strongly-correlates-with-future-returns-on-major-crypto-pairs/
member
Activity: 784
Merit: 21
June 18, 2020, 04:40:19 AM
Usdt is the most used stable coin as store of value by traders, it has the max market cap among other stable coins and it's not a new project, some said the project is centralized, if you are worried about this then switch to Dai
full member
Activity: 531
Merit: 100
June 18, 2020, 04:28:30 AM
I'm not sure how safe tether is I've been hearing fud for as long as I can remember. It has been around for a few years but I would rather use usdc or some other option in case something goes wrong my concern would be they don't have the actual dollars to back the coins
If they don't have enough USD to convert to USDT, I believe they will soon collapse. In 2019 I saw a few FUDs like that for USDT, but fortunately they overcame it and the price just collapsed slightly. Hopefully this will never happen again
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