Altcoins Talks - Cryptocurrency Forum
Local => Nigerian Languages => Topic started by: Rex067 on March 02, 2024, 05:47:11 PM
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Tether is definitely making impact on the crypto market as a whole. Tether is a stable coin, that's it's design to maintain a stable value of $1 per coin. It's also use as a safe during times if volatility in crypto market. Tether has done great job in the maintenance, it's peg to the dollar, it's considered as a safe asset.
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Tether is definitely making impact on the crypto market as a whole. Tether is a stable coin, that's it's design to maintain a stable value of $1 per coin. It's also use as a safe during times if volatility in crypto market. Tether has done great job in the maintenance, it's peg to the dollar, it's considered as a safe asset.
Well tether it self is a stablecoin value same as dollars, the price of dollar or the increase as cause the price of commodity to increase, high cost of living leading to the increase of cement in Nigeria, the price of dollar as made many people to eat 2 time daily meal, high cost of living. We are really affected the negative way, but on the other hand those earning in dollars are making profits and benefits from the price of dollar now.
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trading the usd to your local currency, that's how you can see how it could affect lives of people around the world. if you wanted to buy BTC or any other crypto, you wanna to buy usdt using your local currency and then you can will realized how much you need to acquire 1USDT.
with the inflation today, one could argue if its the safest asset today. i certainly feel like there will be a runaway inflation by how US government handles it affairs.
if you mean how its price affects crypto trader, it don't affect much as its a stablecoin which tokens and BTC are priced in stablecoin.
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I don't see tether to be a secure asset instead I would prefer DAI is more secure than usdt and can lose its value at any time, so for those who loves holding usdt during bearrun should be very active monitoring their stable coin. DAI is decentralized coin while usdt is a centralized coin so the most trusted is DAI but most people love using usdt even me inclusively except for a long period of holdings.
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Tether is definitely making impact on the crypto market as a whole. Tether is a stable coin, that's it's design to maintain a stable value of $1 per coin. It's also use as a safe during times if volatility in crypto market. Tether has done great job in the maintenance, it's peg to the dollar, it's considered as a safe asset.
It's affecting the life's of our society and youths, the increase of price of dollar has caused many industry and projects on hold, this as results to many construction projects to be paused because of the price of cement and high cost of building material. This has make many people in Suffering those with low salary and high cost of goods or food . transportation on the other hand is also affected.
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Tether is definitely making impact on the crypto market as a whole. Tether is a stable coin, that's it's design to maintain a stable value of $1 per coin. It's also use as a safe during times if volatility in crypto market. Tether has done great job in the maintenance, it's peg to the dollar, it's considered as a safe asset.
It's affecting the life's of our society and youths, the increase of price of dollar has caused many industry and projects on hold, this as results to many construction projects to be paused because of the price of cement and high cost of building material. This has make many people in Suffering those with low salary and high cost of goods or food . transportation on the other hand is also affected.
The increase in dollar have affected us both positively and negatively. Negatively for those who does not end in dollar, positively for those who earn in dollar. They are people who are happy by the increase of the dollar to naira, because as the dollar keep climbing they are making more money. So to you it's my be affecting you negatively but to others it's my be are affecting them positively, the truth of the matter the increase of dollar is affecting either positively or negatively, so to you which way is it affecting you?
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The high price of ussd is really affecting the economy and every sector in it, you wouldn't know this if only you're not in this country 🇳🇬🇳🇬
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Tether has done great job in the maintenance, it's peg to the dollar, it's considered as a safe asset.
You posted it yourself that it is pegged with US dollar. Which means it can depegged. If something happened and the banks or the reserves they have become affected, the coin might be depegged. The safest that you can use is the United States dollar itself. But I understand that it is more centralized and not easily acceptable unlike the stablecoins
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Op please make it clear is it USD or USDT? Which of them? And I am also seen another person used USSD so I am really lost in the currency sign here. And I think it is USD that is affecting naira and not USDT. And why dollar is affecting the naira because in we use dollar more than the naira. Even in radio programmes instead calling naira but they called dollar. We give the valu to dollar instead of naira. So the country is dollarcentric . Tether is a stable coins and we all know that and if a cryptocurrency is equal to a dollar then that coin can't move market because people are interested to invest to a coin that is volatile and has bear time and bull time. I don't know for the security of the project since I am not using it for now.
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Op please make it clear is it USD or USDT? Which of them? And I am also seen another person used USSD so I am really lost in the currency sign here. And I think it is USD that is affecting naira and not USDT. And why dollar is affecting the naira because in we use dollar more than the naira. Even in radio programmes instead calling naira but they called dollar. We give the valu to dollar instead of naira. So the country is dollarcentric . Tether is a stable coins and we all know that and if a cryptocurrency is equal to a dollar then that coin can't move market because people are interested to invest to a coin that is volatile and has bear time and bull time. I don't know for the security of the project since I am not using it for now.
USDT follows the price movement of USD, so all currency conversions around the world are based on USD, including the naira which still follows USD exchange. Our currency doesn't have much value out there, whereas USD already has a lot of value that can be used for buy whatever we want.
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The high price of ussd is really affecting the economy and every sector in it, you wouldn't know this if only you're not in this country 🇳🇬🇳🇬
To my own observation USD is affecting our economy due to our dependant on crude oil Nigeria is importing crude from abroad using USDT but thanks be to God with the help of our new government and private sector i.e dangote that is try by all means to invest in our dear country on crude oil we will be able to buy it in NG not in dollar that's why we can see that Naira is gaining power against USDT today