Yes, you are correct regarding the USDT to USD equivalency. But consider the other case, if the value of the dollar drops with respect to bitcoin, you will experience that as well.
Regarding poloniex, whatever verification and limits would be set would be done by poloniex. They have verification if you want to withdraw a certain amount of cryptocurrency from the site, which is above their limit.
Do a search on tether, a number of other points have been discussed.
Topic: Tether questions (Read 394 times)
I have visited Tether.to which is supposed to be the official website, while trying to make account, I figured out that my country is not supported so I have a few questions before proceeding as I don't want to lose money. If I buy through Poloniex or any other exchange, will I need to do any kind of verification while depositing or withdrawing?
I also want to know what is a real case scenario where someone could use Tether because I suppose I didn't fully get it, from my understanding, It's to maintain the value of your coins? If we assume that the current price of 1 BTC = 2000$ and I exchange that BTC to USDT, It should give me 2000$, If bitcoin price ever drops to, say 1000$ , I will be able to buy 2 BTC using that USDT?
I also want to know what is a real case scenario where someone could use Tether because I suppose I didn't fully get it, from my understanding, It's to maintain the value of your coins? If we assume that the current price of 1 BTC = 2000$ and I exchange that BTC to USDT, It should give me 2000$, If bitcoin price ever drops to, say 1000$ , I will be able to buy 2 BTC using that USDT?
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