Is USDT trusted to use? - page 12. | Bitcointalksearch.org

itsv

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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.

masterrex

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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 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.

puremage111

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Despite of their controversy
We can't deny the fact that most people are using USDT and most of the newly minted stablecoins are on USDT
It has the liquidity everywhere thus lower down spread between pair

Look at Binance USD pair, the liquidity ain't good enough thus the spread is big on certain pairs
Well i won't really put full trust on USDT yet i do use it as a method of transaction
Just take care of what's happening around it and you will be fine i guess

FairUser

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Of course it's reliable, you can use it or hold it for as long as you want. The price of USDT will never change because it is backed by USD, the largest FIAT in the world. I have been in this market for many years but have never seen USDT crash even though they have a lot of FUD in the past.

Anonylz

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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.

Although I can not say I completely trust usdt or not but usually use sometimes to store my funds in exchange since many exchange support it, but recently I read about BUSD in Binance and how it is 100% backed by us dollars, the fourth largest stable coin with a market cap of about $200 million and is also regulated by the new york state department of financial services (NYDFS), I think this is worthy to look at.

ElmedoRator

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No cryptocurrency is really reliable in this market. Its price could collapse anytime if there is FUD, and you need to accept this if you are here and want to make a profit. USDT is one of the leading stablecoins in this market and you can trust and use it

shaheer001

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USDT I like fiat currency and this is a very good entry in decentralized market as when you consider market s going down then you can exchange your crypto assets like BTC, Ethereum, BNB in USDT to avoid losses.

matchi2011

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Quote from: trauchot on April 08, 2020, 04:10:49 AM

As for me, it is safe to keep your investments in USDT, of course, do not forget about various risks in the cryptocurrency sphere, but judging by the volume of USDT trades, a very huge number of investors constantly keep their investments in USDT and this means that very many people trust USDT.

It's the way of taking advantage of certain situation, if you are planning to save your investment into USDT due of seeing that there's a major crash that will going to take place then better doing it. There are large numbers of traders who also use this assets and convert it if they've seen opportunities. It's how traders works for every chances that they can take, Do your deeper research for you to be more comfortable using this asset.

tabas

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If you happen to think that USDT might be frozen by the authorities then you better stop using them as your stable coin. There are choices that you can have from USDC, GUSD, DAI and other stable coins that have no current issues.

Quote from: trauchot on April 08, 2020, 04:10:49 AM

As for me, it is safe to keep your investments in USDT

You better not.

trauchot

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As for me, it is safe to keep your investments in USDT, of course, do not forget about various risks in the cryptocurrency sphere, but judging by the volume of USDT trades, a very huge number of investors constantly keep their investments in USDT and this means that very many people trust USDT.

gundala

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Quote from: LbtalkL on April 07, 2020, 06:24:36 PM

There is some bad rumor about USDT but it is the most used stablecoin so far with lot of volume bigger volume than bitcoin, almost available in all exchanges. I heard before that USDT was used to pump the market they just print and pump but I guess they can also dump or crashed the market or should I say manipulate the market. Some stablecoin has the ability to frozen any USDT asset it is like a centralized coin for me. But it is useful on trading In fact, I am using it but not holding it for a long time.

Because of the many bad rumors, I also only use USDT to move assets. Moreover, volatility is low, if used as an investment is less effective. Unless there is an unexpected event when the sharp decline due to the domino effect of the pandemic in all investment product markets a few weeks ago.

LbtalkL

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There is some bad rumor about USDT but it is the most used stablecoin so far with lot of volume bigger volume than bitcoin, almost available in all exchanges. I heard before that USDT was used to pump the market they just print and pump but I guess they can also dump or crashed the market or should I say manipulate the market. Some stablecoin has the ability to frozen any USDT asset it is like a centralized coin for me. But it is useful on trading In fact, I am using it but not holding it for a long time.

flagpara

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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 found several post about this USDT coin, in all every one has doubt hold or not in this coin. For me I'm using it without any problem for long time. If you don't feel safe than I would suggest to go with DAI or new Binance USD. Binance exchange is the most trusted exchange in cryptocurrency. Cryptocurrency has almost 6-7 stable currency.

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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.

If you think that the authorities has the ability to shut centralized stable coins then the rest of the stable coins will vanish just like that, the first that will be targeted will be the privacy coins we have and i am also not a fan of USDT because they are running a shady business and so is the case with the rest of the stable coins, what these centralized coins say we ought to believe and other than that i do not have a clarity whether they really peg what they are claiming.

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

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.

Not heard or used these and hence no idea.

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.

You can always convert your bitcoin to Dollars or Euro according to the exchanges you are trading if you really do not trust these crypto stable coins and that is how i do and that is the safest option in the market.

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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.

Buddy, it should be better if you showed the picture. So, people won't think it is your opinion but the fact. Wink

Note: the picture was taken from CMC at Tue, 07 Apr 2020 22:23:00 UTC

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

What is your opinion about the USDT coin?

There is no problem to hold USDT coin, it is a trusted coin. The current fact is clear proof to show us that people trust in USDT. Also, It is in fourth place in CMC list, no doubt it has great performance lately. Although, it is likely the impact of people's fears of the world economic recession. But we must know that USDT is not the best choice for an investment purpose. It has low volatility, less chance for a big profit. When you put money on USDT, it's more like saving than investing.

tycsols

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If you have any doubts then you should use dai or usdc most probably but personally i trust and like usdt because it is availabe to trade in most pairs and also i enjoy it due to huge liquidity and massive volume in usdt pairs especially with btc and eth.

Youghoor

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Sure, USDT is one of the popular stable coins that is used by most crypto enthusiasts when they want to escape the ups and downs of the crypto market. I have personally used it most of the times and I have not had any issues with it. It being centralized that not mean is bad to use and also i have not heard anything about it being shut down anytime soon. Maybe the OP can show us any proof of such publication.

pikkie

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Quote from: Swordsoffreedom on April 07, 2020, 03:27:48 PM

USDT is a centralized stable token that's why it's remain less volatile like other stable coin, it is safe cause it can save you from market dump, USDT can be used to protect your investment against unfortunate market dumps but it is not a good idea for holding usdt for a long time cause it is safe but not like Bitcoin or ETH.

although such stablecoin cannot provide a guarantee that the price movement is always safe, there will definitely be price movements that can be frightening and make many traders panic, the benefits of usdt are also not too fast.

AmoreJaz

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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..

nelson4lov

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In my experience, sticking with USDT is your best bet. Yes, it might be centralized and USDT has been shady on some occasions but it has always gotten the job done. That's the most important thing. But if you still want to be on the safer side, you should only use it only when the need arises – otherwise stick to alternatives. There's a popular saying that the devil you know is better than the angel you don't know and I agree. Using USDT for years now without complains.

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