Topic: reasons why someone wants to pay in tether and not bitcoin? - page 4. (Read 684 times)

Besides the long confirmation time, the volatility of bitcoin is also a reason, I really don't want to pay in bitcoin because I don't want to incur any additional loss if bitcoin volatility. Bitcoin could be profitable in the future so using it really feels wasteful, while tether or stablecoin is not profitable and is no different from fiat, so I would use that instead of bitcoin.

To me, bitcoin is an asset, an investment. I am trying to accumulate as many bitcoins as possible, I only use them when I have no other choice, other than that, I will hold them until I reach my goal.

I have transfer tether between with friends several times. It was a great way to list these stablecoins as they arrived instantly and their amount was accurate. In bitcoin, you would have to wait a certain amount of time. It all depends on the parameters at which it is sent. Recently, the payment for the bounty campaign from the manager went to my wallet for 10 hours.

I think there could be several reasons why someone may want to pay in Tether (USDT) instead of Bitcoin (BTC):

1. Stability: Tether is a stablecoin, which means that its value is pegged to a stable asset, such as the US dollar. This makes it more stable in terms of price fluctuations compared to Bitcoin, which is known for its high volatility. If someone wants to transact in a cryptocurrency that has a more stable value, they may choose Tether over Bitcoin.
2. Speed: Tether transactions typically have faster confirmation times compared to Bitcoin due to Tether's lower network fees and higher transaction throughput. This could be an advantage in situations where speed is important, such as for day-to-day transactions or for trading on cryptocurrency exchanges.
3. Liquidity: Tether is one of the most widely used cryptocurrencies and has a high level of liquidity. This means that it can be easily exchanged for other cryptocurrencies or fiat currencies, making it a more convenient choice for some users.
4. Reduced counterparty risk: In some cases, Tether may be preferred over Bitcoin due to the potential counterparty risk associated with holding Bitcoin. Tether is issued by a company that claims to hold reserves of US dollars to back the value of the coin, which could provide some users with a greater sense of security and trust compared to Bitcoin.

although there are also risks associated with Tether, such as concerns around its reserve holdings and its role in market manipulation. It's always important to do your own research and consider the potential risks and benefits before transacting in any cryptocurrency.

Tether might be the best option for a stablecoin though I don’t know the reason why your account will be freeze if you do make transactions using USDT, not unless you use a not good exchange here but if you use your hard wallet or any personal wallet, I guess it should be fine. The price of Bitcoin fluctuates, that could be the main reason why some are not ok to accept payment in Bitcoin, they want to preserve the value of their money and we all have a choice for this.

People have their reasons which could range from any of the following

• trying to get transactions faster confirmation times
• to avoid always have to know if network is clogged and paying more as transaction fees aren't consistent with BTC
• Could be as simple as ones preference
  

Definitely one of the reasons,btw frozen sounds harsh of a word prefer suck as it's temporary and in rare cases transactions get dropped...

Tether exists on different blockchains by the way and you could be spending a tiny fraction in fees to send to a different party and value is locked in...if you sending a dollar it Will always be a dollar unlike BTC which could be plus or negative because market conditions are continuously changing!

Tether being a stable coin solve the volatility problem of Bitcoin.  Some people wanted to pay in tether because of the reason that they don't have to worry about the high price fluctuation since theter is pegged to $1, if there is any discrepancy it is just a small amount which is almost negligible.



The advantage of tether in a transaction is it's being stablecoin that is pegged to the dollar.  The user doesn't have to worry about being short of funds in paying for merchandise because of the price crashing if they just have enough funds for the item.

Probably, that user don't want to lose any value after making a transaction since Bitcoin is very volatile while a stablecoin is not.
I usually asked for a USDT payment from someone since I know the volatility of the market, and it has been my stablecoin which I can be used anytime to buy Bitcoin or altcoins if i see some opportunity. This will also depend on a mode of transaction, since USDT are way more cheaper compare to BTC transaction.

Despite that Tether has a stable value and people are aware that it can freeze anyone's asset anytime and have it blacklisted, they're choosing it because it's exempted from volatility.
And as we all know bitcoin, if someone wants to pay it, he's paying it depending on the market's value in real-time. That's why we get to see campaigns and other services getting paid in bitcoin based on USD value from the very moment the payment will be sent, so, as it's volatile the value might change and it's not stable.

They each have advantage and disadvantage, the reason why people want to pay or accept USDT is that it doesn't fluctuate like the way bitcin does, it is 1 dollar equivalent to 1 USDT and can be redeem into cash if you so wish to that over the counter in Tether office but the problem with it is that, it is centralized, it can be frozen if Tether that issued them feel you vilolated their policy but bitcoin on the other hand is not centralized, it has no middle man, you can redeem it into a cash but the problem with it is that, it has volatility and do crash when there is bad news.

The buying trend of Dogecoin, Shiba Inu and Floki Coin can be caused by various factors, including their popularity on social media and cryptocurrency markets. For example, Elon Musk once gave public support to Dogecoin which then made the price of Dogecoin soar. In addition, Shiba Inu is also often referred to as "Doge Killer" by some people, because this coin is similar to Dogecoin. Meanwhile, the buying trend of Floki Coin may be related to the hype that occurred after Elon Musk announced that one of his dogs was named Floki.
indeed this was very hype at that time what else was the influence of elon musk, many people wanted to buy the coin just wanted to follow the hype

because they want the security and stability of the this coins, and also tether is a stable coin with the largest market capitalization.
stable coins can also prevent temporary price volatility where the crypto market is very volatile, thus avoiding the loss of reducing the value of a coin if we save usdt.

Yes, there is not much difference between the tether and the United States dollar and the only difference is that while the dollar is a traditional currency, the tether on the other hand is a blockchain-based cryptocurrency that has a stable price and it's a peg to the US dollar on a 1:1 ratio.
But then with tether, one can easily pay for a service with low fees and faster transactions compared to the high fees and slow transactions in the traditional dollar systems.
-Tether is a centralized currency, but with some elements of cryptocurrency since its run on the blockchain but is controlled by a third party, which limits the right of the holders over their coins.

Though there are still business who accepts crypto payment that doesn't have these payment processors, Most of them are small businesses and just starting their way to accept crypto payments. I believe those business is just doing p2p transactions which is somehow inefficient given the amount of time waiting  for transaction confirmation and also the transaction fee. Somehow they prefer do accept crypto payment as well as being stable as I believe it is more suitable for small business at the same time. USDT is available on different blockchains which is more viable to fast transaction speed.

I think this is not the issue for OP. The goal of OP is to pay someone with cryptocurrency which is either Bitcoin or USD Tether(USDT). So for me, there are a lot of payment processors now that accept both cryptocurrencies or even other alternative cryptocurrencies.
Using USDT Tether for me is like using fiat currencies in a digital way, you can avoid the volatility of cryptocurrencies.

Traceable, what do you mean by that I am sure it is easier to trace tether since it is centralized and under the control of the team, which makes it possible for it to be locked even while it is in your private wallet.
-But Bitcoin on the other hand have the freedom from external influences which makes it easier for both holders and merchants to have total control and freedom over their Bitcoin holding.

Among the many reasons starting from volatility of btc, your usdt is not getting frozen for no reason. And if you are involved in some big heist or something, it's likely that your bitcoin addresses are flag and your CEX fiat ramp will froze your account when you eventually try to cash out. Even washing that money is soon difficult because of fatf rules.

I totally understand that someone is paying with btc or gets paid with btc out of principle. But i being afraid that government seizes your pocket money seems paranoid and give way too much credit for any governments capacity to focus on something like that.

Some have all their stash in Tether USD and others in Bitcoin traders most especially like to DCA and at that will like to hold the balance in stablecoins tether is the most popular stable coin and with relatively low fees and fast transactions, and so many other reasons are why some choose to use the tether compared to Bitcoin.
-But we still have a large number of other cryptocurrency holders who will prefer Bitcoin to USTD.

As many members have said, volatility is something not everyone likes so they may prefer holding Tether to Bitcoin. Even though by holding bitcoin, they can get more profit if they keep holding it and only sell it after the price goes up high.

But we also can't force them to accept payments with Bitcoin if they don't like it and prefer to accept Tether. But other businesses may offer altcoins or even stable coins like Tether in addition to Bitcoin as the main payment in addition to accepting other payment methods.

Stable coins have stable price and not really drop or up drastically like Bitcoin, many people still interested with payment using tether than Bitcoin because for long term convert to be fiat still profitable or not loss when using tether or stable coin, but have two possibility when using payment with Bitcoin between price going drop or pump when convert it in fiat.

There are not problem with every one accepted payment with tether than Bitcoin, my friend have influencer side job and all his costumer more priority payment using tether than Bitcoin.

People can still deal with bitcoin payments while avoiding its volatility. All they have to do is to withdraw btc to local currency right after they execute the negotiation. This way there is no advantage for stablecoins in comparision to bitcoin, as stability is the only benefit stablecoins can offer. Then if you neutralize bitcoin's volatility by doing what I mentioned above, the cons of stablecoins will be emphasized, especially due to the lack of guarantees (coverage) issued by the central organization behind them to peg the price in 1 : 1 to dollar.