It still doesn't make sense for there to be a "stablecoin" based on a fiat currency which is prone to inflation.
What's the matter yall? Are you afraid of a little market action?
Who holds coins on exchanges anyways? That's crypto newbie 101.
Any money you might save from a market downturn you will lose in a market upturn and vice versa. The market never sleeps either, so you could be in dream land while the market surges and your stable coins are sitting there like a frog on a log.
Topic: Why hold Tether when you can hold Cash? - page 2. (Read 257 times)
I never understood the logic. Anyone use USDT? Why? 
Maybe because they want to make it stay so that when there's good opportunity comes they have balance available to used and sure they would never miss those good chance to gain something. There's lots of things happening online and we need to prepare on those matter that's why there are some people choose to have USDT.
Fiat is easy to grab and we don't need to spend much effort to spend it and acquire it. Also we are in crypto scene where USDT is important asset for those people who afraid of volatility since stable characteristic of this coin give some relief for people who's afraid to experience a dump while holding a crypto.
USDT is easily transferrable/converted to other cryptos while fiat it can take some time and 3rd party processing can hold your payment which makes it inconvenient.
Besides all the reason people have mentioned here about how easy it can be for people trading and doing e-commerce to access liquidity to use USDT instead of cash, I would also add a little fact about holding using USDT and personal security: we you live in a country where security and law and order is strong for all citizens, it would make sense people would not be afraid to hold some important amount of cash in their home, ottherwise, when we talk of developing countries like mine, it is safer and more discreet to keep savings in cryptocurrency/Stablecoins, either on an exchange or within a hardware wallet.
There are several reasons why people prefer to have USDT in their accounts rather than physical cash in their homes or wallets.
We could also argue whether USDT is fully backed or not by USD equivalents or people should move their wealth to a different Stablecoin, but that is a completely different discussion to have, for other occasion.
There are several reasons why people prefer to have USDT in their accounts rather than physical cash in their homes or wallets.
We could also argue whether USDT is fully backed or not by USD equivalents or people should move their wealth to a different Stablecoin, but that is a completely different discussion to have, for other occasion.
I never understood the logic. Anyone use USDT? Why?
This is because USDT is crypto and we are in a crypto era where everyone wants to be in the crypto space. It is only crypto and you can use to convert into another crypto in a exchange. If you are holding USD fiat, you pass through buying crypto with fiat via p2p, but if you have a USDT already in your wallet or exchange, you can swap it whenever you want.Trading involves buying and selling and USDT is is Ed for that not fiat.
I think that is because you still need to do some conversion and transferring when you have cash. While with Tether or with any stable coins, you're ready to transfer it anytime and trade it for any other crypto that you wish to have. So, that's one of the advantages of having your cash into Tether. But having cash has also its advantages specially if you wanna spend it on grocery stores, shops and wherever you go.
Not all stores are accepting Tether and as we all know, many still prefer to get paid in cash instead of cryptos. They have cashless transactions but that's still in fiat. It is what I think that Tether(USDT) is mostly for trades, buying the dip and cashing out profits to make it lesser volatile while waiting for another opportunity to come or when the market seems to both high and less volatile.
But the question is, instead of holding Tether and cash why not hold BTC?
Not all stores are accepting Tether and as we all know, many still prefer to get paid in cash instead of cryptos. They have cashless transactions but that's still in fiat. It is what I think that Tether(USDT) is mostly for trades, buying the dip and cashing out profits to make it lesser volatile while waiting for another opportunity to come or when the market seems to both high and less volatile.
But the question is, instead of holding Tether and cash why not hold BTC?
I never understood the logic. Anyone use USDT? Why?
It’s for easier buying of cryptocurrencies in exchanges.Time is crucial especially if you are trading. You would want to enter the market on the perfect time which is when the price is dropping. It’s just much easier if you already have some USDT on your exchange ready to be bought as crypto.
I never understood the logic. Anyone use USDT? Why?
Because you can't hold cash basically on usb stick and trade it against altcoins in DEXes. I guess those are the reasons most people are using it for. And maybe yield farming.Obviously if you don't plan to do that then cash is way better way to deal with anything money related in a real world. And just holding it can be useful in cases where you need to buy something fast and you don't trust market enough to keep it in eth or other trading pair.
I never understood the logic. Anyone use USDT? Why?
Tether is handy for moving dollar value between exchanges when seeking arbitrage opportunities. Some folks also find it simpler and less expensive to keep assets in stablecoins rather than constantly switching in and out of fiat money and Im puzzled why this use case isnt intuitive to you. Stablecoins essentially function as digital dollars within the crypto economy, transferring value without the hassle of traditional banking. While the merits of Tether specifically can be debated, the concept behind it fills a clear niche.
If I'm from the US or I base myself in areas where I can have free access to the USD and make use of it on a daily basis, I don't think there will be any need for me to hold USDT. I even prefer holding USD cash to keeping it in the bank.
But here in Nigeria, where I live, we have more access to USDT than USD (you can still buy US dollars in the black market), but it's easier to buy and hold USDT since it's more crypto than USD. Due to our currency devaluation, I prefer to hold it than hold my local currency.
But here in Nigeria, where I live, we have more access to USDT than USD (you can still buy US dollars in the black market), but it's easier to buy and hold USDT since it's more crypto than USD. Due to our currency devaluation, I prefer to hold it than hold my local currency.
I never understood the logic. Anyone use USDT? Why?
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