Topic: Is it ok to convert my BTC savings to Tether when the price is high? (Read 430 times)
In this crypto market no one can’t predict the price. Price depends on the demand condition of the market. But if you think price will decrease then i suggest you can sell your coin.
July 08, 2018, 02:15:10 PM
If you can rely on tether, way not? Well, it is known that tether has a fixed value and this has been a controversy for quite some time now. Although, you have a good idea, which might save you from loosing your money. You can go on with it, but do not forget to exchange it back into bitcoin or any other at the right time.
July 08, 2018, 12:21:56 PM
It's better if you convert your crypto currency when the price is low. It will help you further.
You mean convert it when the price starts dropping and not when it is low because then it is a pure loss 
Buy low and sell high, this is the key for success
July 07, 2018, 03:21:39 PM
That's how it turns out to fix your deposit, those who managed to do it during the period when bitcoin was $ 20,000 very well could make money on it, but by that time many people did not understand how to use Tether correctly.
July 03, 2018, 05:37:32 PM
I'm never able to sell on time... and just regret every that why I did not sell when the price was high.
Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
How you guying doing this? Please let me if you have any other idea?
Any replies much appreciated. Thanks
yes, its ok, since it is your own money, there is no one that can control you for what you should do with it, you are the only one who can decide of what you're gonna do with that. Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
How you guying doing this? Please let me if you have any other idea?
Any replies much appreciated. Thanks
July 03, 2018, 05:30:13 PM
It is a very good idea, I normally convert few of my coins to USDT, I will leave just in case we enter bear market, I will use the USDT and buy more alt coins and wait for them to gain so that i can sell off.
July 03, 2018, 05:29:01 PM
I'm never able to sell on time... and just regret every that why I did not sell when the price was high.
Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
How you guying doing this? Please let me if you have any other idea?
Any replies much appreciated. Thanks
Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
How you guying doing this? Please let me if you have any other idea?
Any replies much appreciated. Thanks
If you are not satisfied with the USDT, you can exchange coins for real money on any exchange, that supports trading in a pair to the fiat money. Use better-proven exchanges. But do not forget that for the exchange to real money, 99% of exchanges require an account confirmed by documents.
July 03, 2018, 05:23:34 PM
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.
Yes i agree with that. For short period and especially in exchanges dealing with cryptocurrencies only, USDT is the best alternative to keep your earning. For long periods, no one will know if its price will remain the same or will be divided.
July 03, 2018, 05:22:53 PM
Your opinion is very good but in my opinion when the BTC rate is high, if you have not reached the peak then you should hold instead of convert to USDT. I usually only convert to USDT when the market rate is low to avoid losses. In addition to ETH and BTC, hold for long-term is a way to make huge profits.
July 03, 2018, 05:21:56 PM
I think it’s okay if you keep your bitcoins in tether
It means that if you store 1000$ of bitcoin to tether when bitcoin is 20,000$
When bitcoin drops to 5000$ and u want to withdraw your tether balance
You will withdraw back 1000$ of tether back to bitcoin and get 99% of your money back
Very safe, fast and prompt for short term storages
It means that if you store 1000$ of bitcoin to tether when bitcoin is 20,000$
When bitcoin drops to 5000$ and u want to withdraw your tether balance
You will withdraw back 1000$ of tether back to bitcoin and get 99% of your money back
Very safe, fast and prompt for short term storages
July 03, 2018, 05:08:10 PM
Basically there are at least two levels of strategy when it comes to trading. You can either tether it to preserve its value in USD, or you can exchange it to a coin that has higher potential. For example, if you you see that ETH is gaining faster than BTC, then you'll convert BTC to ETH, if then you see that ZIL is gaining faster than ETH, then you convert ETH to ZIL. Keep doing this every time there is a breakout and you'll net a fair profit.
July 03, 2018, 12:57:01 PM
I'm never able to sell on time... and just regret every that why I did not sell when the price was high.
Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
Basically, that's a great tactic. The question is: "When will you exchange USDT into BTC again?". That is the key to this idea. In short, this strategy is suitable for people with good trading skills. You may need more experience to be able to do it in a good way.
July 03, 2018, 12:47:37 PM
IN market there are lots of coins are there based on this you need to choose right one also this idea is good also I don’t have any idea about USDT but as far I know its not so good so before invest or transfer judge that coin and be aware of scams.
July 01, 2018, 09:28:04 AM
It's proven that bitcoin is more valuable than USDT or Tether. As long as you are a trader you can convert it to Tether and you can swap it on bitcoin if it's surge high. believe me Bitcoin Price right now is way more better than any fiat currency.
July 01, 2018, 08:47:12 AM
the best way to earn a profit is to sell when you have started getting it some people do this. I do not really want to pass on my bitcoin to tether. But if you believe that tethering will retain its value, you can convert your bitcoin as much as you want
July 01, 2018, 01:51:09 AM
In market there are lots of coins are there but you need to choose the right coins among them based on this btc is giving good profits to their customers also this have good future value but this idea is really good for me I think this process will help you.
July 01, 2018, 01:08:11 AM
I'm never able to sell on time... and just regret every that why I did not sell when the price was high.
Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
How you guying doing this? Please let me if you have any other idea?
Any replies much appreciated. Thanks
Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
How you guying doing this? Please let me if you have any other idea?
Any replies much appreciated. Thanks
Yes. If you have good market sentiment skill.
I do it all the time
July 01, 2018, 01:07:25 AM
wow wasn't expecting this much replies, thank you every one.
I guess I'm late into this... anyway looks like this is a normal practice and FUD about tether is wrong. Now I have to wait for ATH and god knows when it will come hehehe
I guess I'm late into this... anyway looks like this is a normal practice and FUD about tether is wrong. Now I have to wait for ATH and god knows when it will come hehehe
FUD about Tether was not completely wrong. there are some good points in there too, some real issues with Tether and the company. but the FUD added other stuff to both exaggerate it and create panic among investors to crash bitcoin price using that panic.
you still need to be cautious when using USDT since the fact that it is shady doesn't change.
July 01, 2018, 01:00:25 AM
Having hard time to belive tether will stay arround $1 for much longer. Better to FIAT usd than again buy low
I don't have any easy option to cash out to USD.... and for me Tether suits better... but I was skeptical about it before and never tried it.
July 01, 2018, 12:44:52 AM
wow wasn't expecting this much replies, thank you every one.
I guess I'm late into this... anyway looks like this is a normal practice and FUD about tether is wrong. Now I have to wait for ATH and god knows when it will come hehehe
I guess I'm late into this... anyway looks like this is a normal practice and FUD about tether is wrong. Now I have to wait for ATH and god knows when it will come hehehe
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
June 29, 2018, 05:23:49 AM
I'm never able to sell on time... and just regret every that why I did not sell when the price was high.
Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
How you guying doing this? Please let me if you have any other idea?
Any replies much appreciated. Thanks
Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
How you guying doing this? Please let me if you have any other idea?
Any replies much appreciated. Thanks
There is no right time to sale. The market is unpredictable.
A general rule, the bigger the market cap, the more stable the price. BTC is relatively stable.
If you want, you can use USDT, which is tethered to the US dollar.
https://coinmarketcap.com/currencies/tether/
it has its own risks though.
June 29, 2018, 04:56:32 AM
what you need to know is that nobody is guaranteeing Tether to have the same value. for example the company behind it will not guarantee 1 USDT to be 1 USD. so don't count on it.
but also know that in the pasts the price of it was 1 USDT for about 98% of its lifetime.
additionally they do not guarantee exchange of USDT and USD although so far it has been possible.
and finally it is centralized so everything about this coin depends on health of the company that issues this coin. if someday this company disappears price of this coin will drop to 0 immediately.
but also know that in the pasts the price of it was 1 USDT for about 98% of its lifetime.
additionally they do not guarantee exchange of USDT and USD although so far it has been possible.
and finally it is centralized so everything about this coin depends on health of the company that issues this coin. if someday this company disappears price of this coin will drop to 0 immediately.
June 29, 2018, 04:22:25 AM
Some people are doing this. I dont really want to conveft my BTC to tether. But if you believe that tether is will maintain their value then you can convert your btc as much as it is convenient for you. But the best way to collect profits is sell when you already are gaining.
June 29, 2018, 03:41:51 AM
Yes, that is a common strategy among traders, it goes something like this:
1. Buy in at a low price, e.g. $6,000
2. Wait until a small bull run to around $6,300
3. Tether it
4. Wait until it dips back to ~$6,000
5. Buy back in
6. Wait until a small bull run to around $6,300
7. Repeat
Doing this you can net yourself some small, but eventually significant micro-gains.
1. Buy in at a low price, e.g. $6,000
2. Wait until a small bull run to around $6,300
3. Tether it
4. Wait until it dips back to ~$6,000
5. Buy back in
6. Wait until a small bull run to around $6,300
7. Repeat
Doing this you can net yourself some small, but eventually significant micro-gains.
June 29, 2018, 03:37:56 AM
Just think that is exactly the meaning of investment. When the profit comes, you take it out. I don't know why you would still want to convert it to tether and not fiat.
June 29, 2018, 03:31:00 AM
If you believe that tether will maintain its value nearly at 1 USD then its a good move however that may change anytime. So its better to convert your crypto to fiat when price is high and you've made profits. At least you'll 100% sure that its value will not decrease suddenly.
June 29, 2018, 03:19:32 AM
In my opinion, it's better if you convert your money into cash and then buy as the price is low now. It may help you in future.
June 28, 2018, 10:37:54 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.
yes, most people do that to store value temporarily before buying back again when the price dips and usually it's the only way on some exchanges that don't have real USD fiat trade pair
but when you need $ it's better to sell BTC than Tether, just use Tether for short period hedging
June 28, 2018, 10:28:34 AM
It is also a good idea if you want to have a rest on trading cryptocurrency without pulling out your money on exchanges and if you think that the market will start to have a price correction since tether has a stable value. Actually it is nothing new because traders do use it for that purpose for a long time and this is why tether became the 2nd cryptocurrency that has the most trading volume next to bitcoin.
June 28, 2018, 10:21:22 AM
We can't tell if Tether can hold when all those who converted will cash out. We're not sure if USDT has enough fiat to back it up. You might be saved because of your mistake. Just keep on hodling because your already on it.
June 28, 2018, 10:20:09 AM
Having hard time to belive tether will stay arround $1 for much longer. Better to FIAT usd than again buy low
June 28, 2018, 10:18:41 AM
I'm never able to sell on time... and just regret every that why I did not sell when the price was high.
Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
How you guying doing this? Please let me if you have any other idea?
Any replies much appreciated. Thanks
Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
How you guying doing this? Please let me if you have any other idea?
Any replies much appreciated. Thanks
Nothing to regret, no one can predict exactly when the price is high it will go down, you might be thought the price will higher so you not sell.
yes it's good to sell it to thether if you thing the price will go down because thether price is same as dollar, it will not go down or up.
June 28, 2018, 10:10:39 AM
I'm never able to sell on time... and just regret every that why I did not sell when the price was high.
Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
How you guying doing this? Please let me if you have any other idea?
Any replies much appreciated. Thanks
Yes, this is very very good idea. But only only problem that people never know when is ATH to convert their BTC to Tether.Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
How you guying doing this? Please let me if you have any other idea?
Any replies much appreciated. Thanks
Also as OmegaStarScream said he don't believe in USDT so there are some alternate once such as USDT and you know some exchange already support fiat so problem not about you truth Tether or not. It is WHEN the right time come to do that
June 28, 2018, 09:55:26 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.
June 28, 2018, 12:28:06 AM
I'm never able to sell on time... and just regret every that why I did not sell when the price was high.
Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
How you guying doing this? Please let me if you have any other idea?
Any replies much appreciated. Thanks
Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?
How you guying doing this? Please let me if you have any other idea?
Any replies much appreciated. Thanks
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