Why are you planning on buying USDT in the first place? When you're holding USDT, you're trusting Bitfinex that the value will stay $1, which I really don't suggest doing. They've been pretty shady for a while now so I personally wouldn't hold USDT for more than 24 hours. If holding actual USD is not possible for you, I'd trust other stablecoins like PAX and TUSD instead.
Do you due diligence as always.
This guy says smart things. The problem is that USDT is not a fiat currency, but only represents it like any stable coin of this type.
The Bitfinex exchange is responsible for USDT, however.
Although USDT is not fiat currency it mirrors the price of the USD as it peg for 1:1 ratio making it quite stable. Stable coin like this is a good safe haven for trader to avoid market high volatlity and provides a quick in and out action as the market plummets. Bitfinex and USDT has the same CEO but they are negotiating differently for payment settlements.
I've read an article addressing problem with USDT 7 months ago but noticed that the price did not dive given that the team behind USDT mistakenly type an amount while transferring to TRON chain. Ridiculous.
this exchange has a lot of attention from the law and regulators, which is not very good.
I don't go to Bitfinex very much often but yeah just look at this tweet post by them, seems like they have an ongoing lawsuit.
https://twitter.com/bitfinex/status/1195399042009841669?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5EtweetI'll withdraw from Bitfinex as much as possible. imo.
