I don't have Tether (USDT) wallet. Can I still use and trade it? - page 2.

Flight-87

newbie

Activity: 56

Merit: 0

Quote from: haroldtee on April 27, 2018, 05:10:45 AM

You can easily get to trade LTC/USDT pair on exchanges like bittrex, binance or poloniex, without having to register on the tether platform, which I believe should make things easy for you. Here is a step to guide you.

- Open an account on https://bittrex.com or https://binance.com
- Familiarize yourself with the exchange
- Deposit your LTC on any of the exchange address
- Then, you can search for the LTC/USDT pair and there you have it.

However, as a complete noob who wants to trade, I really hope you know what you are doing.

Excellent answer

This is the answer I was looking for. Thanks a lot!

haroldtee

sr. member

Activity: 644

Merit: 299

Quote from: Awesomus Maximus on April 27, 2018, 05:47:02 AM

Quote from: haroldtee on April 27, 2018, 05:10:45 AM

- Deposit your LTC on any of the exchange address

While you probably don't need a Theter wallet, you certainly need a good LTC wallet. If you haven't figured that part out, I recommend using electrum for LTC. Keep most of your LTC locally in your electrum wallet.

That is a really good point and thanks for bringing that up with respect to my initial post. I skipped that since we are in the context of trading but in the real sense, it is important to always store your assets in a decentralized wallet with an address where you have the private key (you simply have no asset, if you do not have the private key to where they are stored) and never put what you cannot afford to lose on an exchange since if anything happens to the exchange, everything is gone. Just thought I should expantiate on that!

Quote from: Flight-87 on April 27, 2018, 06:10:40 AM

Quote from: Awesomus Maximus on April 27, 2018, 05:47:02 AM

Quote from: haroldtee on April 27, 2018, 05:10:45 AM

- Deposit your LTC on any of the exchange address

While you probably don't need a Theter wallet, you certainly need a good LTC wallet. If you haven't figured that part out, I recommend using electrum for LTC. Keep most of your LTC locally in your electrum wallet.

I am using Coinbase's LTC wallet to store my 8 LTC as sometime I need to send LTC to other CB users and I can do that without paying fees (email transfer). I guess Electrum is a software wallet stored on my hard drive which may be a safe option but I don't want to store my coins on my PC. So, Online wallets seems convenient for me. What's your thoughts on LTC wallet of Coinbase?

Just as I already said above. Coinbase offers a centralized wallet and you only have your public address. If you are holding long term, it is preferable if you are using a cold storage or at least a desktop wallet like electrum or exodus that gives you access to your private keys. You can just leave few of the coins you may want to transact with in your coinbase wallet but not all you have.

Flight-87

newbie

Activity: 56

Merit: 0

Quote from: Awesomus Maximus on April 27, 2018, 05:47:02 AM

Quote from: haroldtee on April 27, 2018, 05:10:45 AM

- Deposit your LTC on any of the exchange address

While you probably don't need a Theter wallet, you certainly need a good LTC wallet. If you haven't figured that part out, I recommend using electrum for LTC. Keep most of your LTC locally in your electrum wallet.

I am using Coinbase's LTC wallet to store my 8 LTC as sometime I need to send LTC to other CB users and I can do that without paying fees (email transfer). I guess Electrum is a software wallet stored on my hard drive which may be a safe option but I don't want to store my coins on my PC. So, Online wallets seems convenient for me. What's your thoughts on LTC wallet of Coinbase?

Awesomus Maximus

member

Activity: 392

Merit: 66

Quote from: haroldtee on April 27, 2018, 05:10:45 AM

- Deposit your LTC on any of the exchange address

While you probably don't need a Theter wallet, you certainly need a good LTC wallet. If you haven't figured that part out, I recommend using electrum for LTC. Keep most of your LTC locally in your electrum wallet.

avikz

legendary

Activity: 3080

Merit: 1500

Quote from: Flight-87 on April 27, 2018, 04:51:20 AM

I was planning to trade LTC/USDT pair and discovered that Tether.to is not accepting new registrations. Is there any way I can use it? Can I still get an online wallet like omni wallet or exchanges wallet and store it there? Does omni or exchanges give private key to the wallet? I'm a complete noob here, enlighten me please Embarrassed

before you proceed with the trading, please be informed that Tether is a centralized currency and claimed to be backed up by real dollars. However, no one is sure about the legitimacy of this claim. So understand the risk before you move to trading. The only good thing is that the price of this currency is somewhat stable to $1.

Now coming back to your original question. Exchanges won't give you a private key, it will just give you an address to store your Tether. So if you are not planning to trade with a significant volume, you can still use exchange address. But it is not recommended for huge volumes. I am not experienced in Omniwallet, so I won't be able to assist you with that. But my little search shows that you can import your existing wallets into Onmiwallet as well as export/backup them. But I may be wrong here.

Another wallet you may want to try is Bitshares wallet. It has an integrated order book with the wallet so you can trade directly from your wallet. You can give it a try as well. Also let us know your findings.

haroldtee

sr. member

Activity: 644

Merit: 299

You can easily get to trade LTC/USDT pair on exchanges like bittrex, binance or poloniex, without having to register on the tether platform, which I believe should make things easy for you. Here is a step to guide you.

- Open an account on https://bittrex.com or https://binance.com
- Familiarize yourself with the exchange
- Deposit your LTC on any of the exchange address
- Then, you can search for the LTC/USDT pair and there you have it.

However, as a complete noob who wants to trade, I really hope you know what you are doing.

Awesomus Maximus

member

Activity: 392

Merit: 66

If you really need a tether wallet, you can use tether.to The registration is only currently suspended. However, tether is probably not a currency one should trust too much because it is completely controlled by one company. I personally think it is more or less the same as if you would keep your coins on an exchange. In both situations you are trusting a company.

Flight-87

newbie

Activity: 56

Merit: 0

I was planning to trade LTC/USDT pair and discovered that Tether.to is not accepting new registrations. Is there any way I can use it? Can I still get an online wallet like omni wallet or exchanges wallet and store it there? Does omni or exchanges give private key to the wallet? I'm a complete noob here, enlighten me please Embarrassed

Topic: I don't have Tether (USDT) wallet. Can I still use and trade it? - page 2. (Read 318 times)