Topic: Why would you want to exchange your coins for USDT ? (Read 127 times)
Well USDT has been safe the entire time right? So people are worried that one day USDT would be worth nothing and say you have a lot of USDT on the exchange, then its basically 0?
The reason people exchange to Tether is because they can’t wait for Bitfinex and Jan Ludovicus van der Velde to fuck them out of all their money.
In periods of high volatility, you may wish to "exit" some positions in crypto. Instead of converting into FIAT you could just buy USDT which is pegged to the USD dollar value for the time being, and then you may want to buy crypto back once the turmoil ends.
nobody wants to exchange their coins to USDT. some people do it because they have no other choice. for example when you are trading altcoins all day long and have poloniex as your place of trading, you can't just go somewhere else and find a USD market to exchange to it. instead you are forced to use USDT and go there IF you wanted to have fiat temporarily for example when that altcoin is getting dumped hard.
Maybe because it’s like trading against the USD but without all the stuff that comes with it.
Why not just exchange for BTC/ETH/LTC on GDAX and then exchange for USD? Is it because of taxes? For example exchanging into USD creates a taxable event but exchanging into USDT does not? Can someone please explain this to me?
Jump to: