Topic: Is it ok to convert my BTC savings to Tether when the price is high? - page 2. (Read 428 times)
June 30, 2018, 04:43:45 PM
It is really advisable especially when the price of bitcoin is continuously dropping the best option then is to convert it to Tether and buyer the Bitcoin back when price stabilizes.
June 30, 2018, 04:01:21 PM
I think at this moment it is wise choice to convert coins into tether. Tether seems to follow the other way. Its feels good to know that there is some coin we can rely on in this situation of the market.
June 30, 2018, 03:41:18 PM
Currently all the coins are declining accept few coins and tether. Tether is going another way. Its kind of stable sometimes increasing a bit. So i personally think your idea a great Idea. Actually I think everyone is doing the same. They are converting all coin to tether thats why it is able to withstand current situation.
June 30, 2018, 03:10:52 PM
Well, I think that's a very good idea. you can invest on converting your Bitcoins to tether. tekla is nowadays a good option to invest in.
June 30, 2018, 12:38:31 PM
You can use exchange , most of the exchange have the option of tether and USD so just find out which one you like and trade with btc/usdt or USD just as easy as that no other way than that except you have people in your area that need btc and paying in cash then you can have your funds at hand and save it to buy back when you think is best to.
June 30, 2018, 12:24:59 PM
I think it is not a bad idea. You can sell it to tether as its price is same as dollar. Moreover, don’t regret because BTC price is unpredictable and no one knows when the market jump again. I hope that the market will recover soon within the end of this year.
June 30, 2018, 02:55:37 AM
There is nothing wrong with the idea If you trust Tether. It's actually what everyone is doing right now since it's more convenient.
If you're like me and you have some doubts about USDT and don't believe that it will maintain it 1 USD value forever then It's not suggested, at least not for storing for a long period of time anyway.
If you're like me and you have some doubts about USDT and don't believe that it will maintain it 1 USD value forever then It's not suggested, at least not for storing for a long period of time anyway.
I know this suggestion is good one but it always made me think why not convert the currencies to the fiat? I mean whats the difference between converting them to the Tether and a Dollar bill? Isn't converting them into the fiat also keeps the same value in terms of USD. I always do the conversion to the Fiat currency because unlike Tether there is full guarantee that you will have your 1000 dollars worth 1000 dollars after a period has surpassed. Also we minimise the risk that way and in case of Tether it could be the case that it may not stay worth dollar. Just thought.
June 30, 2018, 02:51:42 AM
Yes if the prices rise then the value of our savings will also rise and we can buy things in much quantity if the value rises and in the future if the value rise then we can convert all our savings into different altcoins while some of the commodity too.
June 30, 2018, 02:17:06 AM
it can be a good idea if the market situation is good but there is no ensurity that tether will maintain the price and the process can be time consuming also. well ups and down is common thing in this market so it up to the holder who they want to deal with their bitcoin.
June 29, 2018, 10:43:36 PM
It seems Tether released evidence that they're actually fully backed:
https://uk.reuters.com/article/us-cryptocurrencies-tether/cryptocurrency-firm-tether-releases-law-firm-report-attesting-to-u-s-dollar-reserves-idUKKBN1JG1SB
But yeah, Tether was conceived for this purpose after all, and their only real drawback is lack of proof that they're backed fully. I personally would prefer just converting to fiat to be more liquid, but with this evidence in mind, Tether should be as good an option as any.
https://uk.reuters.com/article/us-cryptocurrencies-tether/cryptocurrency-firm-tether-releases-law-firm-report-attesting-to-u-s-dollar-reserves-idUKKBN1JG1SB
But yeah, Tether was conceived for this purpose after all, and their only real drawback is lack of proof that they're backed fully. I personally would prefer just converting to fiat to be more liquid, but with this evidence in mind, Tether should be as good an option as any.
June 29, 2018, 07:51:31 PM
It is possible to do that. USDT is used as a safe haven currency for many traders expecially day traders to keep their profit secured. If you are into daily trading and you want to lock your profit, it is prudent to use Tether.
June 29, 2018, 07:48:34 PM
You can convert it whenever you want.
If you are afraid because it take too long and don't want to be late when the prices rise and you find your self in a loss, simply convert it to USDT whenever suits you and you will be able to withdraw at any time with no problems.
If you are afraid because it take too long and don't want to be late when the prices rise and you find your self in a loss, simply convert it to USDT whenever suits you and you will be able to withdraw at any time with no problems.
June 29, 2018, 03:39:33 PM
As the market value of BTC changes the investors takes advantages of it. The motive, to buy at low value and sell at higher value. But to completely take advantage of this opportunity the correct timing is required. Problems are faced by sellers due to geographic locations and which method of fiat currency or crypto currency to trust.
June 29, 2018, 03:31:09 PM
Yes since tether has a stable price same a the dollar. It is good to convert bitcoin to tether before the price collapse like today the bitcoin goes $5000 and you are lucky if you convert your bitcoins to tether when the price is high for example $10,000 before it collapse it means that you dont need to deposit dollars to buy bitcoin when you already have tether. It is what I planned before but sad to say i have no bitcoin at that time.
June 29, 2018, 03:18:49 PM
It would be a good idea. But if the price of bticoin rise just after that you will loss something. You can wait a few time more. Market has not grow from long time,. So there is a chance of prise rise soon. But since this is your money, so you should research more before doing it finally.
June 29, 2018, 03:15:52 PM
That is even the best ways to save your bitcoin from being undervalued. You tether it and forget it there until price appreciate again to you recovert it back to bitcoin and by that time you are going to be exchanging for a current high price.
June 29, 2018, 03:09:47 PM
Sure, its okey to convert to tether, but remember, maybe after you sell your btc the price still up and up and up, and once again you will regret to not holding it. For me, im doing it, sell coin to tether when im think the price is overpump, but i dont hold my fund long time on tether, i always withdraw it with real fiat, im just not feeling safe to hold my fund on tether, and when i think the price is overdump, im buying again btc with my fiat.
June 29, 2018, 03:05:03 PM
That's basically what most traders are doing. I assume you're do day or short-trading, you should keep that way of you want to use USDT as a pair to BTC. Anything longer is not safe for the reasons repeatedly stated by members above.
June 29, 2018, 02:52:20 PM
All the crypto currencies are reliable if you choose correctly. So it is okay to transfer saving from one coin to another.
June 29, 2018, 05:26:02 AM
Yes, you can convert BTC to USDT when the price is high. I also often use this method. Because when the BTC price drops, I will use USDT and convert to BTC
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