Is USDT Tether safe? - page 6. | Bitcointalksearch.org

osasshem

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Quote from: daoquanghuan on June 26, 2018, 08:00:44 AM

Today, the tether continues to print 250 million tether, raising the tether's market capitalization to more than $ 2.7 billion to reach the top 10 coinmarketcap. People say that every time a tether is printed, the bitcoin price increases because the tether pumped USDT onto the floor to push the bitcoin price. What do you think about this and keep the USDT safe?

In terms of store of assets during the price dump, the tether is safer for that purpose, because the price is not really affect the move of the market, and this is a very good reason for the presence of the stablecoins in the crypto market. I use the USDT as a means of storing my assets when the price of the market is on a down trend, I sell my assets for USDT and when the market recovers from its down trend, I use the USDT to recover the assets I have sold before to still be on a step ahead of the market price.
The rise of USDT in the ranking of the coinmarketcap has been successful over time and I am sure it will have a long time in the crypto market. At the point of it being safe is at the market down trend.

OZmaster

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Quote from: nurilham on July 26, 2021, 05:49:37 PM

Quote from: Orange89 on July 25, 2021, 01:47:15 PM

Why USDT IS SAFE, USDT is backed up by UNITED STATE DOLLAR (USD) it is a stable Crypto currency it had fully transparency

Are you sure about this? Is USDT really backed by USD? And Is it fully transparent?
I am not sure about this because I even don't get valid information about its transparency and USD backup. However, I don't against USDT, but I am just curious about it. You should enclose the proof such as an article or statement from developers related to the matter. So far, I trust USDT because it is used by most crypto users and be the top 10 crypto coins. And USDT is also covered by trusted teams.

I have no idea whether this ever changed but as far as I can remember there have never been official reports about the fiat currency reserves that are supposed to back USD Tether in real banks. I think they were once forced to conduct a full audit, but I am not sure if they were obliged to publish the report. Anyway, Tether isn't risk free given the fact that they have stored their money in real banks and they claim that for ever USDT out there, there is also a dollar in a bank. Who knows whether that is true or not. I can't verify it and others can't either.

nurilham

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Quote from: Orange89 on July 25, 2021, 01:47:15 PM

Why USDT IS SAFE, USDT is backed up by UNITED STATE DOLLAR (USD) it is a stable Crypto currency it had fully transparency

Are you sure about this? Is USDT really backed by USD? And Is it fully transparent?
I am not sure about this because I even don't get valid information about its transparency and USD backup. However, I don't against USDT, but I am just curious about it. You should enclose the proof such as an article or statement from developers related to the matter. So far, I trust USDT because it is used by most crypto users and be the top 10 crypto coins. And USDT is also covered by trusted teams.

Tahid12

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there is no altcoins which is out of various issues and negative news. but instead of believing those, you should rather analysis fast. For example usdt is still safe and being trading om top crypto exchanges with large number of trading volume. And many big companies are accepting usdt as their payment method. so you Should realise, people wouldn’t still use usdt if its unsafe.

Hasan986

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I think Safe. Had a case against them a few days ago. Which they have won. USDT has been performing best ever since. People's faith has increased. It is currently the favorite stable coin of many trader & holder.

Valak

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Quote from: daoquanghuan on June 26, 2018, 08:00:44 AM

Today, the tether continues to print 250 million tether, raising the tether's market capitalization to more than $ 2.7 billion to reach the top 10 coinmarketcap. People say that every time a tether is printed, the bitcoin price increases because the tether pumped USDT onto the floor to push the bitcoin price. What do you think about this and keep the USDT safe?

I don't think there's any good reason for us to say that Tether isn't safe, as long as the Tether developers are still able to provide real money or other assets that match the amount of Tether. So that when Tether holders withdraw their money can still be accommodated with their assets.

aemma

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Irrespective of when this post was made, I have seen a lot people ask same question which also comes in different forms and most times the answer is yes. My own reason for choosing yes is this; USDT Tether have been growing in volume even in the midst of all the fud or whatever news surrounding them and the most interesting thing is that, a lot of blockchain networks now support it in order to make transactions cheaper, easier and faster. Now if it isn't safe, I don't think such integrations or support will occur.
Nevertheless, the word safe can be relative, that is, it is an already established fact that centralised coins and tokens comes with less security since the team decides the fate of all users, therefore when it comes to stablecoins most says DAI is quite better and safer than USDT. However, in any aspect, I would still say, USDT is safer moreover there are many stablecoins now and almost all are centralized with good trading volume.

Rakeshten

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I think USDT is safe. Everyone is holding USDT for buying any other coin in the dip. I am also holding USDT for buying other coins in the dump. So I think there is nothing to worry about. I know it is also a cryptocurrency so It can fall to zero but It will not happen.

Orange89

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Before understanding about USDT you needed to understand aboutUSD, USD is the fiat money that we all stored in our bank account and if we putt Tether then it became USDT that is the world third biggest cryptocurrency we mostly used for the trading and exchanging

Why USDT IS SAFE USDT is backed up by UNITED STATE DOLLAR (USD) it is a stable Crypto currency it had fully transparency and everything is managed daily everything is locked but truth is that its fluctuation can be monitored

SO THAT'S THE SOME REASON PEOPLE Believe THAT USDT IS SAFE

Cornia

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I think USDT Tether is safe and i believe this cryptocurrency. I often convert my asset to USDT when market is going to down. USDT is the mostly used stablecoin. So people also trust this coin.

campusnet

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Quote from: ?? on ??

USDT tether is the safest coin today. unaffected by market conditions and stable prices. nowadays many trades use USDT as a comparison, and for safe asset storage it is better to USDT because it does not go up and down in price

actually, the stability of USDT assets is also not completely stable. you can see how USDT is also moving as its adoption increases. it happens when the market goes down.
after several cases related to USDT which you may have also heard on this forum. in fact, USDT is still popular for trading.
but for me who trades on the binance exchange, I use BUSD more than USDT.

Brus123

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Tether is a fiat pegged centralized currency, and as long as people believe in Tether, as long as it is convenient and people want to work with it, there is no point in worrying.
It is obvious that people trust this stablecoin. As not only is it a stablecoin with the biggest market cap, but also the trading volume of Tether is 15 times bigger than it is in case with Binance USD and USDC.

OZmaster

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Quote from: sgenuine on July 23, 2021, 07:40:12 AM

My answer is yes, it is a fiat-pegged stablecoin with the biggest market cap and the biggest trading volume, so can it collapse? There were cases when stablecoins fell down, but it was about algorithmic stablecoins that couldn’t fight against panic, when people stop believing in a project. Actually, Tether was accused of not having required collateral, but as I know there were several audits that confirmed that Tether had the right sum of money. So the most important thing in crypto is trust. As long as people believe in Tether and use it, there is no point in worrying.

Have you totally forgotten why crypto exists? Doesn't crypto exist because it avoids all the risk about single point of failure problems? If you have a close look at how USDT Tether works, what is the first thing you realize?

Malam90

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Few months ago, we were in tensed about USDT but later it was come to fine till now. BTW, USDT still haven't published any audited results whether they have fully backed by assets. As one of the top 3 coins in CMC, we are using USDT mostly without any problem so far.

sgenuine

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My answer is yes, it is a fiat-pegged stablecoin with the biggest market cap and the biggest trading volume, so can it collapse? There were cases when stablecoins fell down, but it was about algorithmic stablecoins that couldn’t fight against panic, when people stop believing in a project. Actually, Tether was accused of not having required collateral, but as I know there were several audits that confirmed that Tether had the right sum of money. So the most important thing in crypto is trust. As long as people believe in Tether and use it, there is no point in worrying.

ttcsalam

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Quote from: daoquanghuan on June 26, 2018, 08:00:44 AM

Today, the tether continues to print 250 million tether, raising the tether's market capitalization to more than $ 2.7 billion to reach the top 10 coinmarketcap. People say that every time a tether is printed, the bitcoin price increases because the tether pumped USDT onto the floor to push the bitcoin price. What do you think about this and keep the USDT safe?

As a small-time, I saw nothing is impossible in this currency market so when anyone wants to save this capital he or she convart USDT. If an Account is not safe such as 2 FA and verification etc any token and coin can hack any time so at fast you to confirm you save on the Account security then USDT is a saved investment I think. otherwise not save.

OZmaster

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Quote from: Fivestar4everMVP on July 22, 2021, 01:47:59 PM

Alot of talks have been going around tether USDT of late that it's becoming like scary to transact or keep money in it, I really don't know what do believe anymore, I've been using USDT tether for a very long time ever since the stable coin came into existence, and am one kind of a person who don't like jumping from one stables am already familiar with to another I absolutely know nothing about, but then, one thing I still don't like about tether is them having to keep printing millions and billions of it from time to time, I don't know if this is good for its continues growth long term, I don't know how sustainable is this, this is the only fear I have with tether, I don't know what others think, am also reading comments to know what others think about the safety of transacting and storing our wealth in tether.

The question whether USDT Tether is safe has a very simple answer: as with every centralized system with a single point of failure, it is safe until the moment it is not. Are banks safe to use? I would say yes, until we have a big fat crash and the money goes poof! There is no definite answer because nobody knows all the loopholes hackers could use, or what if policy makers freeze Tether accounts or prohibit banks from storing cash reserves for Tether and so on and so forth. I use Tether, but I am fully aware of the fact that I would wake up and the party is over. Can the same happen with Bitcoin? No! That is the value decentralization intrinsically carries.

Fivestar4everMVP

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Alot of talks have been going around tether USDT of late that it's becoming like scary to transact or keep money in it, I really don't know what do believe anymore, I've been using USDT tether for a very long time ever since the stable coin came into existence, and am one kind of a person who don't like jumping from one stables am already familiar with to another I absolutely know nothing about, but then, one thing I still don't like about tether is them having to keep printing millions and billions of it from time to time, I don't know if this is good for its continues growth long term, I don't know how sustainable is this, this is the only fear I have with tether, I don't know what others think, am also reading comments to know what others think about the safety of transacting and storing our wealth in tether.

dificanovi

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Quote from: daoquanghuan on June 26, 2018, 08:00:44 AM

Today, the tether continues to print 250 million tether, raising the tether's market capitalization to more than $ 2.7 billion to reach the top 10 coinmarketcap. People say that every time a tether is printed, the bitcoin price increases because the tether pumped USDT onto the floor to push the bitcoin price. What do you think about this and keep the USDT safe?

I still think Tether is still safe because its price will not go down and up drastically like what happened to Bitcoin. If Tether continues to be printed and causes the price of bitcoin to be expensive in my opinion that is a natural event, in fact I am very happy to see the price of bitcoin can go up because of Tether.

Refrumatrix

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For now I believe it's safe because it has the highest volume overall other stable coins and we all know that USDT is centralised, they have issues in past years but usdt will remain my favourite, it's well supported and if the worst happens we got DAI and stable coins

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