Topic: If all your wages were paid in USDT, would you accept it? - page 4. (Read 1044 times)

It wouldn't matter as long as I could convert it to something else immediately. Same goes for bitcoin or any other crypto/non-crypto currency as well. I might even accept to take my salary in sea shells as long as I could sell them on the markets for something else right away.

I probably wouldn't hodl on to those USDT for a long time though. It is because USDT is kind of worse than the real thing because the issuer of USDT can face legal complications in the future and that would be a disaster for the USDT holders. I trust legit crypto currencies like BTC<C more than I trust USDT. I'd rather prefer to get paid in LTC tbh.

Yes. 

As long as it's a payment that is liquid then there will be no problem for the most of us to receive it. We're receiving that from the payments and invoices that we have.

And that's so, not a problem if my wage will be on it. It's a modern day it is and even in the freelancing world, there are clients that are teaching their employees to setup a wallet and get paid with any crypto.

I know that USDT just like every other stablecoins depeg but the value of my local currency is continually going down as if it wants to discover oil. Just earlier this year, it fell to its lowest value ever. So yes, I wouldn't mind being paid my salary in USDT. It would be an added advantage to me as I can always choose to trade to my local currency for immediate usage or swap to Bitcoin and hodl long term.

Actually it would really be depending on how you would really be finding yourself be needing up that salary per month on which we know that not all would really be able to save up some coins into their own wallet
on converting their USDT to Btc on which its most likely you would really be converting those things into fiat on which this is something that a common approach that you would really be considering.
Its true that it wont really be that much of an issue on whatever the things that they will really be accepting. As a worker or employee if the management would really be having that kind of integration
then it would really be ending up with that kind of acceptance on which you dont really have any choice. As long it do have value and could be able to convert out to fiat directly without
issues then i dont see for this thing to be that much of a concern if there would really be on such transition in between fiat salary and a stable coin.

I can see why one would consider BTC as a salary option because I get that too and it's definitely a good way to make it work. However, USDT doesn't make sense, of course we could just get paid in USDT and turn it into USD right away, there were few times when I was paid in USDT for example and all I did was just get it to my bank account and just use USD and didn't hold it as USDT for more than 5 minutes I think.

It is literally fiat currency that is created fake by some company, there is really no need to trust this, I can see why moving it from one place to another could work well for it, but holding it makes absolutely no sense to me a tall and will definitely avoid that as much as I possibly could. Not going to really trust USDT as long as I am alive for sure.

Honestly, I would accept anything that doesn't cost me a lot of fees etc.

USDT? Sure of course. Just send my salary to an exchange, immediately exchange for BTC and withdraw to my wallet.

Bitcoin first of course. I don't even care people say high fees it's nothing compared to bank/paypal.

It's fine for me and much better since I am more into cryptocurrency right now and I think my funds are more likely 40% fiat, and 60% cryptocurrency (Bitcoin, stablecoins, altcoins).

So for me, since I am active in cryptocurrency market, it is helpful to me to have USDT because I can easily use it especially in my trading and investments.

Even though USDT is an altcoin that has a very dark past, I have seen a lot of news about USDT in the past, but still USDT is still on the cryptocurrency market so I really wouldn't mind receiving my salary in USDT, it would be very advantageous to buy more coins in times of price drops in the cryptocurrency market. Now about buying things in the real world, the usdt would probably be very limited, but there is an option to sell part of the usdt for usd and buy things in the real world with usd. In this market, things are moving towards legalization, so USDT is no longer being seen in a very bad way as in the past

This is because people know that governments are keeping an eye on this market, so the guys behind usdt would not be stupid enough to commit illegal acts in these times knowing that governments would easily catch them and imprison them with prison sentences of many years. This is why usdt is being used a lot by people on exchanges, because it has a low risk of owners disappearing from the market or carrying out the shady schemes that were accused of in the past. Today things are very different from the past when there was a lot of impunity in this cryptocurrency market. Today, a mistake on the part of the owner of a cryptocurrency company can easily result in that owner being arrested. so I don't have any problem with usdt if they paid me as salary

I think that none of the forum participants will have any problems exchanging USDT for any other cryptocurrency or fiat currency. Therefore, our main task is to earn as much as possible, and at the same time we should not care in what currency the salary will be paid.

It seems that many responses here assume that someone paid in USDT must keep his earnings in USDT forever. However, I interpret the question as: If all your wages were paid in USDT. For me, this option is good because it allows an easy exchange of the stablecoin for other cryptocurrencies or even fiat currencies, unless there are issues or reasons that prevent using exchanges or finding a suitable one to convert stablecoins to local currency in your area.

Personally, I would accept being paid in USDT, as I have in my past online jobs, and I had many options to trade them for Bitcoin or other coins, or to easily exchange them for fiat(our local currency). The question here concerns the method of payment, not storing all your salary or savings in USDT, which would be a bad choice due to the risks of de pegging of stable coins. But as long as you are being paid in USDT or another stablecoin, you can trade it safely with minimal risks in that period only.

In this I will bring one question do we believe USDT or can it be trusted? If yes then there is nothing panicking for me to accepting USDT as my salary.
Because current situation of me is kinda receiving the payments of my works on cryptocurrencies and then making some investing on bitcoin and the rest of fund going to exchange for USDT and holding them in usdt. So my current scenario like cryptocurrencies>USDT>CASH(FIAT) so in my case there is nothing better option to accepting USDT. I also also say incase of US dollar as payment because of easy accessibility If I own a non-custodial wallet the I'm the owner of my own bank.

What do you mean by fluctuation? You mean depegging from US dollar value?
Let's do some fact check how many times USDT has depegged from US since they went life since 2014.



This is a chart of USDT since it was launched back in 2014 to now, it has depegged from USD price to $0.6 and that has something do with the authenticity of their audit regarding usd in the vault and the USDT printed, there was trust then but people has learn to trust USDT, they are the oldest and far the largest in term of market cap.

I'm not sure about other stable coin but USDT remain the best stable coin to use in crypto and yiu shouldn't have anything to fear using it, getting paid as a medium of exchange and also to hold value.

Yes, there are risks, but I think they are minor. As long as USDT is a widely accepted cryptocurrency, there is no significant risk. The risk that it will de-peg and lose its value is negligible, and only exists if you decide to hold the USDT for a longer period.  Personally, I would exchange it to a currency I have more confidence in as soon as I receive the payment.

It depends on what you do with the USDT that you receive as your wages. If you sell them for cash or use them to trade other cryptocurrencies, I don't see anything wrong with that because, at the end of the day, their price is pegged to the US dollar and they both would have the same value essentially apart from the fact that the US dollar can get affected by inflation and then lose purchasing power and USDT stays unaffected from such things.

There can be some downsides to this as well as said by other members. Stablecoins can sometimes de-peg and lose value, and if something like that happens, you will lose your money in case it doesn't regain the peg again but the odds of that happening aren't very high.

It's the same as getting paid in real world job, you get some ATM card and the company will pay you through that and you have to withdraw it wherever you can withdraw it. It's just the same as getting paid with USDT and that's why for me, it's not going to be a problem if that's the crypto that will used for paying my salary. It's not about that you're going to spend it directly on businesses because it's the same as Bitcoin that not all businesses do accept it and we have the process of converting it.

I don't think there's no reason why not to accept it so, yes, I will accept it.

What are the risks? Hacking? As an investor, it's your responsibility to take care of your coins and that includes the USDT that you will get. De-peg? I can't remember the last time USDT de-pegged, so the chances of it happening is kind of low, but not impossible as well.

What I would do though is to convert it immediately either into different altcoin (or Bitcoin), or into our own fiat currency. I don't think that there's any company that implemented this though. I don't think that there's a company that pays their employees through USDT and now USD or their own fiat currency.

That's what I mean, because everyone has their own preferences.
Although they are also happy with crypto or as traders, sometimes they don't want the salary from their real work to go into crypto.
This is certainly optional if it is implemented, but until now I have not found a company that pays its employees with crypto, because it is quite high-risk.

I also don't expect any company to be able to pay with crypto because it is risky.
Regulations that have been in effect really must be applied, if it is not allowed then do not do it.

I am in a country that does not allow traditional fiat money to be replaced with other currencies,
because the use of Fiat currency is the best way for everyone nowadays.

In fact, the fluctuations are not too high compared to other cryptocurrencies. However, for people who are used to paying using US Dollars, this might be more of a hassle for some people. Or even for those who are completely new to crypto, this will be quite difficult to understand and do. So it will actually cause a small loss when selling it. However, if you are already familiar with crypto and its use, then I think this is not a big problem. This will depend on how we manage the USDT after it is received.

However, when it comes to risks, it cannot be denied that there will definitely be high risks. Because after all, crypto is risky, whatever the coin. This is related to security and other things. There will definitely be risks.

So, yes, you should consider the pluses and minuses first.
If I'm personal, it's actually not a problem. and if I'm worried about some things, then I will immediately convert to fiat. It's just that this service also requires a fee for the transfer.

It wouldn’t be something that I’d prioritise but if I was enjoying the job & paid a good salary in comparison to other fiat salaried jobs that I could get then yeah, sure, why not. As long as I could exchange the USDT for my local fiat currency & withdraw to my bank quickly after getting paid without high fees then it wouldn’t be much different to getting paid normally in fiat.

You’re right, he is thinking of the potential de-pegging risk which is normal in stablecoins if it’s not backed properly by USD or the custodian bank for the reserves got bankrupt. This happened on USDC before but they manage to survive due to the Feds help on banks bankruptcy.

I don’t want to receive USDT as payment to my real job salary since I use it immediately for my personal expenses while having USDT will give me more hassle to convert back to fiat just to spend it physically since merchants doesn’t accept crypto until now.