Is USDT trusted to use? - page 11. | Bitcointalksearch.org

thisnewcoin

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Quote from: bluebit25 on April 10, 2020, 10:38:31 AM

Quote from: Furryball on April 10, 2020, 10:17:18 AM

Judging by adoption rate and usability with volume yes USDT is one of the most favourite stable coins in crypto space, but there are few better stable coins like DAI and BUSD or USDC, they are just better

DAI, BUSD, USDC... They are stablecoins created after USDT, and their volume is not so much so you can not comment like that. USDT is still the leading stablecoin in this market and no one will ever surpass it

Though USDT has greater volume but considering the reputation I think he was right! USDC is better than USDT, even BUSD is doing good too! BUSD will have real-life use cases very soon, I read some articles about it! Though I am confused about DAI, once it looked great to me, but now I don't feel positive enough to store my coin in DAI!

dady12

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Quote from: Lordshiva on April 10, 2020, 10:47:09 AM

Quote from: nreal on April 07, 2020, 05:07:48 AM

For me in the cryptocurrency space, no money is 100% safe, so is USDT. Although since the USDT was created it has a lot of bad news but it is the most widely used stable currency, and for me USDT is just a currency to avoid volatility not to invest so I do not keep USDT long time.

Yes you can not invest on USDT in a hope it will grow overnight....it is the most stable crypto till now..no volatility at all and if some one wants to hold crypto without any kind of risk...it is the best goo

but technically it is not true - the usd itself is not stable so USDT won't be stable too.
In reality it is quite stable and safe (in terms of losing you funds due to quick price drop).
There are a lot of rumors around tether in general, however I haven't seen anyone getting literally scammed by tether

mongkie

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you beed to trust USDT as you trust other cryptocurrency because its just a representation of the fiat money. i use it to exit on the market when its bleeding and just go back to btc and alts once market is good.

mindrust

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It is not safe indeed. Use it only temporarily and if you have no other choice. I wouldn't touch that crap with a 10 ft pole though. USDT in curculation is over 6billion USD and that's nuts. That's crazy. It is a timed bomb.

Stay the fuck away. It is a major scam.

Lordshiva

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Quote from: nreal on April 07, 2020, 05:07:48 AM

For me in the cryptocurrency space, no money is 100% safe, so is USDT. Although since the USDT was created it has a lot of bad news but it is the most widely used stable currency, and for me USDT is just a currency to avoid volatility not to invest so I do not keep USDT long time.

Yes you can not invest on USDT in a hope it will grow overnight....it is the most stable crypto till now..no volatility at all and if some one wants to hold crypto without any kind of risk...it is the best goo

bluebit25

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Quote from: Furryball on April 10, 2020, 10:17:18 AM

Judging by adoption rate and usability with volume yes USDT is one of the most favourite stable coins in crypto space, but there are few better stable coins like DAI and BUSD or USDC, they are just better

DAI, BUSD, USDC... They are stablecoins created after USDT, and their volume is not so much so you can not comment like that. USDT is still the leading stablecoin in this market and no one will ever surpass it

minairia3

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Quote from: Alvi69 on April 09, 2020, 12:03:57 PM

Yes it is trusted because here is in every exchange you have one confirm trade pair BTC-USDT as we are comparing bitcoin against usdt so this is not a risky option to be in usdt.

Youre looking on the outside matter of it. Of course it may be looking that USDT backed by US since its has been on every exchange but as others are mentioned even them themselves arent sure that they are. What does it mean? It seems they only relying on their firm to prove this back up thing but the truth is once this shutdown every market and crypto pair will be paralyzed. Remember it is owned privately and we dont know until when they can hold some losses sometime. There is no insurance even with tether.

Furryball

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Judging by adoption rate and usability with volume yes USDT is one of the most favourite stable coins in crypto space, but there are few better stable coins like DAI and BUSD or USDC, they are just better

ScamViruS

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Quote from: AmoreJaz on April 07, 2020, 04:45:12 PM

Quote from: ScamViruS on April 07, 2020, 03:20:40 PM

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.

USDT is a stablecoin. Which traders use when they trade. USDT claims 1 usdt backed by 1 USD. But reality is something shady. No one knows exactly how much usdt's original supply is. They everyday print usdt as much as they want. I certainly wouldn't tell anyone to use usdt. It's hard to believe those who keep everyone in the dark.

remember at one point USDT team admitted that they are not 100% backed by US$..i think up until now they are still not saying the absolute truth regarding their reserves..so holding it long term is really a no no...youll never know whats gonna happen once one of their team members decides to quit or run away..

Yeah. This is a hidden secret. Usdt never gives any information about their reserves. No one knows how they add new supplies. If you look at their current marketcap you will see that a large amount of usdt has been printed in these days! Why add so much usdt? Who bought these? None of us know the real truth. So this is a risky asset, for long-term hold.

DarkDays

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I personally stay well away from Tether. I read that their last audit showed that they are only 76% backed by USD, which basically means they are operating a fractional reserve.

The entire purpose of Tether is to be redeemable against the USD whenever the customer wants. If everybody to decide to do a tether run (like a bank run), then 24% of the money would be unavailable.

That's why I stick with Gemini dollar and TUSD now, they're far more transparent than USDT.

Kong Hey Pakboy

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In my own opinion, USDT is really safe and trusted because it is one of the best stable coins and it's 24 h volume is also high like other top coins. USDT is also being used as a safe asset because when we are experiencing a bear market some people convert their coins to USDT for them to avoid huge losses.

Alvi69

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Yes it is trusted because here is in every exchange you have one confirm trade pair BTC-USDT as we are comparing bitcoin against usdt so this is not a risky option to be in usdt.

Denongels

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Hard to believe because in the past tether was indirectly involved in bitcoin price manipulation in 2017 conducted by bitfinex and because of this I think there is a slight flaw in tether, but this stablecoin has the most exchange compared to the others and also this stablecoin network hast two models (ethereum and omnichain). but unfortunate for omni the fee is quite expensive, and my personal opinion if you use this stablecoin should never be used to be stored as a long-term asset and it's better to choose another stablecoin like DAI.

slackovic

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Quote from: umbara ardian on April 09, 2020, 06:00:16 AM

USDT is the leading stablecoin in this market, and its 24h volume is even higher than bitcoin. So why do you doubt it? If you don't trust USDT, I think you shouldn't trust any other project, even bitcoin. You should leave this market as soon as possible if you dont trust this market

Well, actually, crypto should be a trustless system so users shouldn't have to trust no one. When you have a centralized crypto project (like Tether), then users must trust the team behind the project. That trust is (at least for me) broken for Tether. True, all stablecoin pairs have the best volume with Tether, but I would never leave my money in Tether for the long period.

I trust USDC and I use it as my favorite stablecoin. True, it is another centralized system, but they have monthly audits that show that they really have $ in the amount of USDC.

umbara ardian

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USDT is the leading stablecoin in this market, and its 24h volume is even higher than bitcoin. So why do you doubt it? If you don't trust USDT, I think you shouldn't trust any other project, even bitcoin. You should leave this market as soon as possible if you dont trust this market

Btc_1856

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Quote from: itsv on April 08, 2020, 07:49:11 AM

Quote from: masterrex on April 08, 2020, 07:19:34 AM

I think there is a lot of stable coins out there to choose from and not just limited to USDT alone, so why we bother ourselves with it, but let's accept the fact that USDT is most used USdollar-backed stable coin in the market, so if you don't trust USDT, then you can pick other US dollar-backed stable coins like USDC, PAX, etc and even the Gold-backed stable coins if you wish. IMO, centralized or decentralized aspect is not a big deal to me as long as there is an option to choose.

yea USDT is most popular among exchanges and it has most trading pairs available. But i agree there are lots of other stable coins as well. It all depends on which school of thought you believe or follow if you listen to Chico Crypto on youtube he has done numerous video's on the shady things that are going on with USDT.

For me, most of the cases I used to hold my profits in USDT only, for many days, we are seeing one of the best stable coins in the market. Of course, there are many negative videos about the Bitcoin too, Crypto is always crypto, we should liquidate whenever we need, so always to hold a little amount of money in USDT in order to reduce the risk.

bittraffic

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Is it really possible that authorities will freeze USDT in the future?

It seem a big project really, it even have a TRON and ETH version of USDT that we can either store it outside the exchange in the TRX or ETH wallet.

Quote from: htsy585 on April 08, 2020, 06:48:40 PM

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.

To be honest, security is among the core features proposed by blockchain technology but the entire underlying of the cryptocurrency market is not secure, all the hacks and the fact that the market isn't meant to be regulated validates the fact that cryptocurrency is not a secure form of financial institution. A developer owning a cryptocurrency might decide to shut everything overnight without any much repercussions to him other than running millions of people bankrupt. But i think USDT is the most used and trusted stablecoin out there, i used them personally and i don't think they are going any time soon

It ranked in the 4th with $6B cap. Its the most used stablecoin despite the development of more stablecoin in the market like USDC and BUSD, Tether still is the most used.

htsy585

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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.

To be honest, security is among the core features proposed by blockchain technology but the entire underlying of the cryptocurrency market is not secure, all the hacks and the fact that the market isn't meant to be regulated validates the fact that cryptocurrency is not a secure form of financial institution. A developer owning a cryptocurrency might decide to shut everything overnight without any much repercussions to him other than running millions of people bankrupt. But i think USDT is the most used and trusted stablecoin out there, i used them personally and i don't think they are going any time soon

olabiyijummy02

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I realize that USDT should be a steady coin which keeps on rising to one US dollar what ever the cost of Bitcoin is . In any case, I have likewise perused a few reports that they kept on printing boundless measure of USDT during the bull run in 2017 so that can receive in the benefits . So be cautious . Crypto is still crypto.

beerlover

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I don't get people who take a look at the volume of USDT and think that it is a trusted currency right away just because of it. I am sorry but even bitcoin cash and ripple has high volumes but nobody should trust them neither, these are coins all centralized and all controlled from one source and I will never believe into something that has a centralized place.

USDT basically has the tether company, tomorrow that company could come up and tell everyone "sorry people, we are no longer supporting it and you can't get dollars for it anymore" and the whole currency will be waste of digital ones and zeros all of a sudden, in like a minute. Same goes for all the centralized ones like BCH, BSV, XRP all of them could literally worth zero tomorrow if the owners want to, I will never trust a coin like that.

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