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Topic: Is USDT Tether safe? - page 16. (Read 23520 times)

hero member
Activity: 3094
Merit: 537
Leading Crypto Sports Betting & Casino Platform
September 30, 2019, 08:52:15 AM
USDT has been stable for more than 4 years, it has been showing stability all the time, personally I use taking profits on exchanges in connection with an unstable situation. USDT helps me a lot in this.
Without the majority's preference, USDT would not have been ranked in the top ten. It is obvious that it creates convenience for traders but we always have the question of whether or not it will continue as it is. Once you already trade with a lot money, you do not have much choice. Choosing one of the stabe coins will charge less fee.
Well, the company printed USDT like crazy and also USDT is listed on so many popular exchanges. Knowing that, USDT ranked among top ten is to be expected.
If we are talking about the safety I'm pretty sure that there's no cryptos that have absolute safety to offer even it's USDT there's still a chance that the company could go bankrupt or doing exit scam any time. I'd only recommend to people, if they are willing to exchange their money to USDT just take a few steps and convert the USDT to real money and transfer to your bank account. That's the safest way to go.
full member
Activity: 1004
Merit: 111
September 30, 2019, 08:46:10 AM
Yes it is safe, i can see USDT in big exchanges and it really helps if you want to go away from any cryptocurrency.
Like you think everything will go low that day, that the scape door you should go, convert it to USDT.
sr. member
Activity: 464
Merit: 250
September 30, 2019, 08:01:31 AM
USDT is stable for a long time, I personally use it to take profits, it helped me for quite some time, about two years, there are no complaints at all.
member
Activity: 756
Merit: 12
September 30, 2019, 03:41:06 AM
If I need to use a USD stablecoin, my personal preference is USDC.
Personally, I prefer USDT over USDC, even though they are both stable coins than USD, I prefer USDT,
and it's certainly very safe to use in trading on any exchange.

USDT has been traded longer than USDC but in my opinion the two tokens are the same because they have a liquidity guarantee every time they mint new tokens. In my opinion, choosing between USDT or USDC is about our trust in liquidity
sr. member
Activity: 2324
Merit: 263
September 30, 2019, 03:03:04 AM
If I need to use a USD stablecoin, my personal preference is USDC.
Personally, I prefer USDT over USDC, even though they are both stable coins than USD, I prefer USDT,
and it's certainly very safe to use in trading on any exchange.
hero member
Activity: 983
Merit: 502
September 30, 2019, 01:53:03 AM
Until now, keeping USDT is still very safe. USDT is said to be linked to USD so people trust and use USDT for their transactions. However the future of the cryptocurrency market is unpredictable, if you want to hold USDT long term be careful.
member
Activity: 742
Merit: 16
September 30, 2019, 12:41:06 AM
If I need to use a USD stablecoin, my personal preference is USDC.
USDC stable coin is newer than Tether and tether has been around for a very long time now even after few investigation was been carried out at that point in time and now tether still stand strong, its now available on tron blockchain as well, tether is the best choice
full member
Activity: 251
Merit: 100
September 30, 2019, 12:10:26 AM
If I need to use a USD stablecoin, my personal preference is USDC.
legendary
Activity: 3038
Merit: 1024
Leading Crypto Sports Betting & Casino Platform
September 29, 2019, 08:33:56 PM
personally my trust in USDT  dwindled the day I discovered it's not completely backed against the dollar currency. It's quite shocking that they keep printing and issuing fresh USDT into the market but yet we can't see much influence on the crypto space. In my opinion, only my local currency is safe Grin
Not completely but with over 70% fiat backing and others asset. It has a lot of legal biding within and outside US, and had been under series of investigations the past years and still in market. Some opinions on the coin speculates a strong influence on bitcoin price, though less than $4b market but will see more supports with strong interest.
Okay, and I have a question what kind other assets used by tether to backed its coin? Loan?
So many times tether has already changed its claim about 100% assets(USDT) backed by traditional fiat money.
https://www.forbes.com/sites/francescoppola/2019/03/14/tethers-u-s-dollar-peg-is-no-longer-credible/#6c556f7a451b
I agree with the writer in that article.

Those opinions are not the only speculation only but so many parties have made a study to the 2017's bullrun and the majority of the result were saying the same if tether is the main actor behind the bitcoin pump.
https://www.investopedia.com/news/bitcoins-2017-rise-was-market-manipulation-tether-study/

This company is not again credible in my eyes.



member
Activity: 1134
Merit: 10
September 29, 2019, 01:28:30 PM
USDT has a very advanced market share, and many are supported by billionaires in the world in currency concepts like the dollar, the price is as the dollar exchange rate on fiat or money exchange, yes that is my interpretation, for that is definitely the level of security also must be tightened to anticipate things that are not wanted, to increase the value of the trust of USDT users, in storing and buying and selling processes, the more advanced a coin including USDT, the tighter the security.
hero member
Activity: 2464
Merit: 519
September 29, 2019, 12:30:39 PM
personally my trust in USDT  dwindled the day I discovered it's not completely backed against the dollar currency. It's quite shocking that they keep printing and issuing fresh USDT into the market but yet we can't see much influence on the crypto space. In my opinion, only my local currency is safe Grin
Not completely but with over 70% fiat backing and others asset. It has a lot of legal biding within and outside US, and had been under series of investigations the past years and still in market. Some opinions on the coin speculates a strong influence on bitcoin price, though less than $4b market but will see more supports with strong interest.
sr. member
Activity: 1039
Merit: 256
September 28, 2019, 03:26:19 PM
USDT has been stable for more than 4 years, it has been showing stability all the time, personally I use taking profits on exchanges in connection with an unstable situation. USDT helps me a lot in this.
sr. member
Activity: 719
Merit: 250
September 28, 2019, 03:03:12 PM
I've been cryptocurrency for about 2 years now and when I need to fix a certain amount of money, I always used USDT, personally I have no claims to USDT
jr. member
Activity: 406
Merit: 5
I-CHAIN - The Revolution of Digital Advertising
September 28, 2019, 02:25:02 PM
personally my trust in USDT  dwindled the day I discovered it's not completely backed against the dollar currency. It's quite shocking that they keep printing and issuing fresh USDT into the market but yet we can't see much influence on the crypto space. In my opinion, only my local currency is safe Grin
sr. member
Activity: 951
Merit: 259
September 28, 2019, 02:11:10 PM
Many people write that USDT is not stable, I personally have been using this coin for a long time and I am fully satisfied with it, it has proved its safety over time

Yeah, it's absolutely true. USDT is the most stable of all stable coins. There are various statistics on this and the standards of the USDT have been proven.

I haven't used any stable cryptocurrency other than USDT until now, but I can say I'm pretty confident.
sr. member
Activity: 1246
Merit: 306
September 28, 2019, 01:29:36 PM
I honestly hate USDT. I hate it. The company behind that token is valuable because of the peoples who need to put trades all day long. The reputation is the case here, look!. Imagine, one day you open CoinMarketCap and you dig and search for Tether, you get rekt when you see the supply of Tether getting increased into 1000 billion USDT, that volume keeps growing and getting injected in the BTC/Any other Altcoin's marketcap, that will make that coin soar. Now, imagine that the company behind USDT have bought 70% of the supply of that coin (who got pumped) and now, after the incredible pumps, sell orders and BIG sell orders starts showing till the coin gets dumped to near 0 value. Now, imagine that this scenario happens with BTC, what will the world face? tell me?
sr. member
Activity: 859
Merit: 251
September 28, 2019, 12:45:50 PM
Tether has been around since 2017, and has experienced a lot of FUD and volatility so far, but it still stands and keep the No. 1 position of stable coin in the market. So we can trust it, especial when they use Tron and Ethereum chain to reduce fee.

Well, apparently the FUD presented by Twitter user @Bitfinexed, is mostly hot air. There is a grain of truth in what he said but it is not something to worry about. In fact, I believe it was not Tether's fault that the dollar backing went to 85%. I think it was the state of New York.
full member
Activity: 335
Merit: 100
September 28, 2019, 11:08:46 AM
Tether has been around since 2017, and has experienced a lot of FUD and volatility so far, but it still stands and keep the No. 1 position of stable coin in the market. So we can trust it, especial when they use Tron and Ethereum chain to reduce fee.
full member
Activity: 954
Merit: 104
ludenaprotocol.io
September 28, 2019, 10:20:11 AM
USDT is as safe as American Dollar, if we forget that it is managed by a central private authority.
America has a lot of problems, a trade war with China and other countries, which puts the stability of the dollar at risk, so I'd rather choose other stable coins.  Wink
hero member
Activity: 2464
Merit: 519
September 28, 2019, 10:14:29 AM
Nowadays i am very confused about that usdt, it become terrible about more than blockchain, i stopped to use it.
If you want to buy btc, you can do it with usd or tether, but I don’t understand for what reason people buying usdt and hold it.

Holding USDT is having the same risk as holding your cryptocurrency in an exchange wallet. In case of the second option, your coins are being held by the exchanges and they can get hacked, or the owners may vanish with your coins at anytime. On the other hand, if you hold USDT then you are holding the tokens by yourself. But these tokens can become worthless, as their real value is being held by the individuals who store the backup for Tether tokens.
You dont understand the use of Tether, if you do you wont ascribe such a damaging reference to it. It is not as volatile as any coin which makes it easy to keep the value of any coin while taking profit. There are several wallet that hold tether with your access to their private keys, that can keep it as long as u demand.
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