Is USDT a trustable? - page 12. | Bitcointalksearch.org

Congyang

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Quote from: Fredomago on October 11, 2021, 02:36:12 PM

Quote from: Congyang on October 11, 2021, 01:55:42 PM

I actually think that USDT is something that has quite a big risk, especially for the long term.
they are supervised and audited by a third party in this case indirectly they are the same as someone who is behind it and this makes usdt not good enough for the long term.
I'm not saying it's bad but with a system like this it will be very risky in the long term even though their liquidity is large

As used to prevent big losses when red downfall is ongoing, USDT is one of the best option to trade your crypto while waiting for the final dip, experienced traders use this stable coin as good advantage controlling the value of your investment capital, but if you are talking about long term, I follow you with your opinion, is not good for investment those negative news about this coin will hurt the reputation in some point.

If you want or if you are planning to find an alternative, BUSD, USDC and DAI serves as how USDT being used from this industry
you can use one or more if you are not comfortable placing your entire money with one basket.

yes it is true for scalping and short term stable coins like this are still a good target for traders but of course those who are experts and those who already understand very well with the placement where they have to enter and where they have to get out in order to get the maximum profit.
but it never hurts for beginners to try as an exercise for them to understand better. but remember with proper TA and research don't use instinct.

I think I will try according to the advice you said thank you for the advice you offer.

poldanmig

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Quote from: nikola22 on October 12, 2021, 06:22:16 AM

there is a lot of controversial information about USDT and nobody really knows about their reserves. but may be regulation of stablecoins from USA could reveal such data because it will be mandatory to show all of them.

Actually in the last few years, theter continues to get pressure from the SEC and they have to continue to deal with the authorities in the courts, but so far usdt has been able to survive and maintain their price stability in the market, I agree with what you say, because right now it is very the little information we can get about how big their reserves are and obviously this is a problem for the SEC, now I see on coinmarketcap if the circulating USDt supply is around 68.2 billion. But despite any controversy that exists against usdt, I personally really believe that usdt will continue to survive and become the best stable coin in the crypto world.

Slon55koz

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Quote from: nikola22 on October 12, 2021, 06:22:16 AM

there is a lot of controversial information about USDT and nobody really knows about their reserves. but may be regulation of stablecoins from USA could reveal such data because it will be mandatory to show all of them.

Even with my not very extensive experience in the cryptocurrency world, I have a positive impression about USDT. It seems to me that this is a good asset thanks to which you can fix profits without worrying that market volatility will reduce it at one moment.

darahjuang

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

In my opinion, the news is inaccurate if the content of the news says that USDT is a scam. So far USDT is very stable and we have never heard of USDT being a scam. If something can't be ascertained correctly, it's better not to publish it even though it's news that you hear.
Can you show the news link here?

nikola22

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there is a lot of controversial information about USDT and nobody really knows about their reserves. but may be regulation of stablecoins from USA could reveal such data because it will be mandatory to show all of them.

Azar138

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

Actually, there was hate around USDT all the time, but as I know Tether Limited passed all audits. Personally I am not in favour of centralised stable coins at all as I consider them to be less safe, but centralised stable coins are usually backed, so they are more trustful. If there is confirmed news that Tether lied about collateral, tether will drop very quickly I think, so if you are doubting its reliability you should diversify and buy several types of stable coins.

Orange89

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I wanted to start by saying crypto is really a volatile field USDT is although consider as the stable coin consider all of it it is really hard to make scam with USDT as USD is the native token of many countries and no county wanted their currency to go to zero don't fall for the rumours and believe in the future blockchain technology

doomloop

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Quote from: wiss19 on October 11, 2021, 04:51:27 PM

Even usdt is not trustable fully, I guess for time being may go with it but only in small amount and only for short duration of holding.

When all the crypto people are not having any other option, then they need to go for what most people are making use of. This is the reason I believe tether is a still highly successful stablecoin in this crypto space. But, we must need to go for something highly reliable like how we are doing bitcoin and all other decentralized coin.

When we are depending on decentralized stablecoin then there will be less possibilities of getting into problems. Hence, I believe this is must be the right time to go for a complete decentralized a stablecoin but unfortunately some people are mentioning that there is no such coin is available in crypto space yet.

leetcoiner

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I suppose so. Despite the fact that there are always some scandals with the participation of Tezer, nevertheless, some unforeseen things have not happened for a long time, such as a drop in its price (namely, this has already happened at least 2 times).
Therefore, I think that there is nothing to worry about yet.

CaVO32

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Quote from: wiss19 on October 11, 2021, 04:51:27 PM

Quote from: shield132 on October 11, 2021, 02:49:09 PM

If you don't trust USDT, you can just simply convert your USDT into USD or GBP or Euro or any other currency you trust. There should be one fiat that you trust the most and with most of exchanges, that's not a problem.

The problem in converting into any of those fiats is, you may need to clear KYC for doing so. In most countries you cannot sell your crypto for fiats without unveiling your identifications. So, this is the reason why most people here are still depending on tether and other stablecoins.

Even usdt is not trustable fully, I guess for time being may go with it but only in small amount and only for short duration of holding.

I believe when you are already dealing with USDT and want to convert with your fiat, most exchanges are already asking for KYC, so you can't really avoid this requirement anymore. Anyway, the past of USDT was tainted when they admitted that they were not fully backed by assets way back in 2019. So I can understand the OP's worries here. But I am not following what bad news recently was he hearing. Can he elaborate more on this? Their true backing is I think the major factor why some are hesitant to go into stablecoins.

wiss19

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Quote from: shield132 on October 11, 2021, 02:49:09 PM

If you don't trust USDT, you can just simply convert your USDT into USD or GBP or Euro or any other currency you trust. There should be one fiat that you trust the most and with most of exchanges, that's not a problem.

The problem in converting into any of those fiats is, you may need to clear KYC for doing so. In most countries you cannot sell your crypto for fiats without unveiling your identifications. So, this is the reason why most people here are still depending on tether and other stablecoins.

Even usdt is not trustable fully, I guess for time being may go with it but only in small amount and only for short duration of holding.

shield132

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If you want to hold USD, then just hold USD and if you are an active trader, then hold USDT to use to for everyday activities in crypto trading platforms. USDT is the most popular and most trusted stablecoin right now. I don't see any reason for it to happen something bad or wrong. Every exchange, even Binance prioritizes it over it's own BUSD.
If you don't trust USDT, you can just simply convert your USDT into USD or GBP or Euro or any other currency you trust. There should be one fiat that you trust the most and with most of exchanges, that's not a problem.

Fredomago

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Quote from: Congyang on October 11, 2021, 01:55:42 PM

Quote from: Amejoaquim on October 10, 2021, 10:21:33 PM

Seems like USDT has better liquidity and it's more universally adopted especially when using other trading platforms. I don't use Binance as trade platform; I use it to buy/sell USDT. But if we're talking about risk, I think it's incredibly risky. They're not audited by 3rd parties and they're very opaque. For another option maybe you can choose DAI for stable coin.

I actually think that USDT is something that has quite a big risk, especially for the long term.
they are supervised and audited by a third party in this case indirectly they are the same as someone who is behind it and this makes usdt not good enough for the long term.
I'm not saying it's bad but with a system like this it will be very risky in the long term even though their liquidity is large

As used to prevent big losses when red downfall is ongoing, USDT is one of the best option to trade your crypto while waiting for the final dip, experienced traders use this stable coin as good advantage controlling the value of your investment capital, but if you are talking about long term, I follow you with your opinion, is not good for investment those negative news about this coin will hurt the reputation in some point.

If you want or if you are planning to find an alternative, BUSD, USDC and DAI serves as how USDT being used from this industry
you can use one or more if you are not comfortable placing your entire money with one basket.

devil2man

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maybe there was some bad news about usdt but for now it is resisting and it is the main stablecoin also adopted by many exchanges as a unit of measurement / value however as valid alternatives i would say that there are busd and dai

Congyang

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Quote from: Amejoaquim on October 10, 2021, 10:21:33 PM

Seems like USDT has better liquidity and it's more universally adopted especially when using other trading platforms. I don't use Binance as trade platform; I use it to buy/sell USDT. But if we're talking about risk, I think it's incredibly risky. They're not audited by 3rd parties and they're very opaque. For another option maybe you can choose DAI for stable coin.

I actually think that USDT is something that has quite a big risk, especially for the long term.
they are supervised and audited by a third party in this case indirectly they are the same as someone who is behind it and this makes usdt not good enough for the long term.
I'm not saying it's bad but with a system like this it will be very risky in the long term even though their liquidity is large

jerrison

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USDT a digital fiat currently peggd to the value of one US dollar and also backed by a real dollar is the most reliable stablecoin to be used in process of hedging against the volatile prices of crpto and also the alternative to use in saving money in as compared to saving it in the bank or any financial institution that promises to keep your funds safe enough for you.

Valak

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

What are you worried about with USDT? And what happened to Tether that you think USDT is a scam? Exchange of other coins with USDT so far will generate large profits for USDT, so that the number of USDT circulation is increasing. Perhaps the most basic question about Tether is, does Tether have USD reserves with the amount of USDT circulating in the crypto market today? Of course Tether has foreign exchange reserves in accordance with the amount of USDT although it is not in real money, but it can also be in the form of Bitcoin.

LimLims

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

If you are seeking people’s recommendation, then it’s better to invest on Btc.
Though I won't say that USDT is bad.
It’s one of the most popular coin after BTC and ETH probably.
But yes if you are seeking for good profits in shorter period of time, then better to go for ETH or BTC.
Rest is upto you.

aylabadia05

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

Which references did you hear about the USDT scam. Can you prove the news here?
So far USDT is a very stable coin with a price of $1 and you can see for yourself how stable USDT is on market charts. I think it's fake news before you can prove it.

meldrio1

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I'm not surprised if there is another bad news about USDT. It seems many haters in USDT I don't know why they spread FUDs about this coin. USDT is the most highest volume in the crypto market so this means people are trusted to USDT, no need to change other stablecoin.

Topic: Is USDT a trustable? - page 12. (Read 1748 times)