Is USDT trusted to use? - page 10. | Bitcointalksearch.org

mdzahed134

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Quote from: Btcbeginners on April 07, 2020, 04:06:32 AM

Currently, USDT daily trading volume is over the Bitcoin trading volume and fourth highest market cap according to Coinmarketcap. My opinion is We can't trust the centralized stable coin to keep the money. Also, news around the USDT is not good, and it may be shut down by the authorities.

What is your opinion about the USDT coin?

I use the DAI to keep the stable value & will shift to the SAI in the near future where the money I'm not investing.

I depend on USDT when i need to freezing my money instead of altcoins. In my thought it’s definitely better choice of different stable coins. Actually no coins are guaranteed, crypto is volatile, but you can used USDT because which one choosing/recommend most of members, it’s getting more promotion for a lot of bad. Who's will never invest stable coins for long term.

Bitstar_coin

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Quote from: Btcbeginners on April 07, 2020, 04:06:32 AM

Currently, USDT daily trading volume is over the Bitcoin trading volume and fourth highest market cap according to Coinmarketcap. My opinion is We can't trust the centralized stable coin to keep the money. Also, news around the USDT is not good, and it may be shut down by the authorities.

What is your opinion about the USDT coin?

I use the DAI to keep the stable value & will shift to the SAI in the near future where the money I'm not investing.

my best Stable coin at the moment is BUSD because 1 BUSD is backed by 1 USD (not claimed by CZ)..it is also audited by New York Department of Financial services NYDFS..USDT is backed by no human in this world..the most approved and real stable coins..PAX..BUSD and USDC...but overall, be careful while handling stable coins. Don't get too comfortable

ballerin and giroud

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I only choose USDT for my trading pairs and also I choosing it when the bitcoin and altcoin price are decreasing I will choose USDT to put my money. I think when I do this thing will save me when there is a bad thing happen. Also I was thinking that choosing USDT for long term holding is not a good way, firstly you have to aware that you came to this industry because you need to add your money or your initial money whereas USDT is not an investment place. You can see its movement price, need a long term for you to make your initial money is increas.

BChydro

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Quote from: litepool.ru on April 12, 2020, 07:04:58 AM

There is no project that is absolutely safe in this market, but for USDT we will never have a problem with it. I have been using USDT for years and have not had any problems with it, and certainly in the future it will be the same. You can completely put your faith in this stablecoin

No one claims that Tether have a problem right now when it comes to transaction but the problems comes when there is an investigation coming out regarding the backing they claim are forged and if that happens the complete market crashes and considering that risk then you cannot completely put a blind faith of these so called stable coins, i will never suggest anyone to use these stable coins to hold for a long period but if you are trading momentarily then it is fine as long as you are monitoring everything.

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Quote from: Vishnu.Reang on April 12, 2020, 08:39:21 AM

There is always a certain degree of risk associated with using Tether (USDT) despite its widespread acceptability. The problem is that the USDT promoters have lied in the past about the backup funds. They claimed that the token was 100% backed up with real assets, when in reality it was established that the backup level was much lower than what they claimed. And then came the Bitfinex-Tether scandal, in which the exchange used funds from Tether backup for trading, without any intimation to the users.

I guess I heard this before, but people are still using TETHER now and we've seen its good volume, it has the biggest volume of all the stable coins.
That time I just don't pay attention to the news since personally I am not using stable coins with my assets, I prefer to do short term hold or just hold longer when the market is unstable and just wait until the price will rise.

and with OP's question..

Quote

Is USDT trusted to use?

I think most traders are using it, so it's trusted.

Vishnu.Reang

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There is always a certain degree of risk associated with using Tether (USDT) despite its widespread acceptability. The problem is that the USDT promoters have lied in the past about the backup funds. They claimed that the token was 100% backed up with real assets, when in reality it was established that the backup level was much lower than what they claimed. And then came the Bitfinex-Tether scandal, in which the exchange used funds from Tether backup for trading, without any intimation to the users.

thesmallgod

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Quote from: DeadCoin on April 12, 2020, 07:28:32 AM

Quote from: litepool.ru on April 12, 2020, 07:04:58 AM

Quote from: inanilujimi on April 11, 2020, 10:59:19 PM

Have you ever experienced problems with USDT so far ??
because until now I personally have never experienced any error, because in crypto there is no one that is safe, everything has its own risks.
we must understand that it is now more popular that is centralized than not.

There is no project that is absolutely safe in this market, but for USDT we will never have a problem with it. I have been using USDT for years and have not had any problems with it, and certainly in the future it will be the same. You can completely put your faith in this stablecoin

But it is not good to keep hold this stable coin. A stable coin is very useful in trading but not on holding. You cant able to gain with the stable coin because this will not fluctuate. The value will the same to fiat like dollar base. It is safe but not recommended to hold, it's better to hold hold Bitcoin than holding a stable coin in your portfolio.

You may not be able to gain USDT when you hodl but when you are trading it, you can gain especially with those leverage tokens and this is the reason why the trading volume of USDT is very high as stated by op because alot of crypto trader trade it other pair and they use it to minimize lost during volatility

thesmallgod

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How? Isn't USDT an ERC20 based ? maybe because it is a stable coin of which it is not the only one but most preferably used to minimize risk. I do not thin there is any risk that makes it at higher risk more than the other cryptocurrencies in as much as you used it on reputable exchange platforms. Do not forget there are many stable coins but USDT has been around for a long time

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Quote from: Btcbeginners on April 07, 2020, 04:06:32 AM

Currently, USDT daily trading volume is over the Bitcoin trading volume and fourth highest market cap according to Coinmarketcap. My opinion is We can't trust the centralized stable coin to keep the money. Also, news around the USDT is not good, and it may be shut down by the authorities.

What is your opinion about the USDT coin?

I use the DAI to keep the stable value & will shift to the SAI in the near future where the money I'm not investing.

I trust USDT and USDC, in addition I do not trust any other stablecoins. because USDT and USDC have been appraised by the SEC and legal agencies for prestige and technology mechanism, and it is completely qualified. When we use USDT, there is no need to worry too much about manipulation or fraud. As for the other stablecoins, I am not too interested and do not want to use it because the volume is quite low.

DeadCoin

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Quote from: litepool.ru on April 12, 2020, 07:04:58 AM

Quote from: inanilujimi on April 11, 2020, 10:59:19 PM

Have you ever experienced problems with USDT so far ??
because until now I personally have never experienced any error, because in crypto there is no one that is safe, everything has its own risks.
we must understand that it is now more popular that is centralized than not.

There is no project that is absolutely safe in this market, but for USDT we will never have a problem with it. I have been using USDT for years and have not had any problems with it, and certainly in the future it will be the same. You can completely put your faith in this stablecoin

But it is not good to keep hold this stable coin. A stable coin is very useful in trading but not on holding. You cant able to gain with the stable coin because this will not fluctuate. The value will the same to fiat like dollar base. It is safe but not recommended to hold, it's better to hold hold Bitcoin than holding a stable coin in your portfolio.

litepool.ru

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Quote from: inanilujimi on April 11, 2020, 10:59:19 PM

Have you ever experienced problems with USDT so far ??
because until now I personally have never experienced any error, because in crypto there is no one that is safe, everything has its own risks.
we must understand that it is now more popular that is centralized than not.

There is no project that is absolutely safe in this market, but for USDT we will never have a problem with it. I have been using USDT for years and have not had any problems with it, and certainly in the future it will be the same. You can completely put your faith in this stablecoin

ampere

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Quote from: Btcbeginners on April 07, 2020, 04:06:32 AM

Currently, USDT daily trading volume is over the Bitcoin trading volume and fourth highest market cap according to Coinmarketcap. My opinion is We can't trust the centralized stable coin to keep the money. Also, news around the USDT is not good, and it may be shut down by the authorities.

What is your opinion about the USDT coin?

I use the DAI to keep the stable value & will shift to the SAI in the near future where the money I'm not investing.

When it comes to discussing usdt or other stable coins, i believe it depends on the type of personality.

If you are a trader, you can use usdt as a store gap, to quickly store your profit, before you enter another trade.
If you are an investor, you also keep your money in usdt, so that you can retain original value during dips period

A bounty hunter has no business with usdt.

In summary, USDT is trusted, but it can as well dip towards 0.9$, and always remember to store your assets in your personal wallet.

inanilujimi

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Have you ever experienced problems with USDT so far ??
because until now I personally have never experienced any error, because in crypto there is no one that is safe, everything has its own risks.
we must understand that it is now more popular that is centralized than not.

bitkanu

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Quote from: jaywizzy on April 11, 2020, 04:45:04 PM

Yes! USDT is save due to the fact that it can retain is value in most cases unlike others coins which are use for trading that can depreciate in value at any point in time.

That's true. the volatility that happened with another coin will be removed when we are using USDT and this is the best thing to be used when we are still facing this pandemic to make sure everything will fine about that.
Im also one of usdt users and this coin can be trusted anytime. There are some choices too like USDC and other

Denreal

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The way in which USDT is being operated, also makes me be sceptical about it. However, I looked at the history and what is currently happening to the market in general, crypto enthusiasts need it a lot. The fact remains that I use it, but I do not hold t for long, believing more in investing in what will grow, than that which will just stay stagnant at a point.
So, since I do not hold it and it serves the function it is meant to whenever I want to use it, then I am fine with it.

jaywizzy

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Yes! USDT is save due to the fact that it can retain is value in most cases unlike others coins which are use for trading that can depreciate in value at any point in time.

mahibul49

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yes it is!in my opinion USDT is safe and it is very important stable coin for the crypto ecosystemi personally use USDT but i will suggest you do your own research

jahepahit

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because the economy is experiencing a big shock right now, people prefer usdt as the alternative that exists at the moment. of course through these circumstances the users choose USDT coins as the right choice

Alohadanc3

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At this moment usdt is the most used and most popular stable coin available in the market. Almost every exchanges have usdt pair also. I know there is many rumors regardig usdt. But still it most of the people using it. It's fine. If you don't have trust on usdt then use more than one stable coin. In this market a lots of stable coin available. Divide your asset and hold on every stable coin. That's it.

jrrsparkles

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Everyone who uses stable coin need to have a look at this thread Most Stablecoins Can Be Frozen, Even When in Your Own Wallets

So its more likely you are trusting your banks when you are dealing with such stable coins,so be aware of the consequences and hold the decentralized one.

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