Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => USDT Forum => Topic started by: Malam90 on February 01, 2021, 10:19:46 AM
-
It's no secret that most traders seek to lock in their profits, but due to the high volatility of cryptocurrencies, this has been quite problematic to do. This is because users need to exchange their cryptocurrency assets for fiat currency to pay for various goods and services and to trade on the market.
Doing this without involving fiat currency and constant withdrawals is quite troublesome. Stable-coins, crypto-assets that help lock profits at a ratio of about 1:1 to major fiat currencies, have come to save the market.
One of the most in-demand and popular cryptocurrencies on the market is USDT (Tether).
Small backstory
USDT cannot be mined, and there is no limit to the tokens that can be issued. According to the founders, this is made possible because the cryptocurrency is secured by real assets.
It is this fact that raises the most doubts in the cryptocurrency community. This skepticism is also reinforced by the absence of a third-party audit of the company.
At the same time, on its official website Tether states that USDT is not money and they have no real price, and the company does not have to guarantee the value and security of each token.
Also, the company has no obligation to return USDT to users and reserves the right to refuse service and compensate users who violate the user agreement. If Tether goes bankrupt, alarmists caution, no one will return funds to users.
Nevertheless, the founders have repeatedly assured that they do not pass third-party audits only to maintain commercial secrecy, and the official project website regularly publishes reports on the security of the coin with real assets.
Another complaint against Tether is considered to be its centralization. A number of experts believe that this can lead to uncontrolled monetary emission. But if we consider USDT a hybrid of both cryptocurrency and fiat, its centralization is more likely to demonstrate its similarity to conventional fiat institutions. Source Link (https://www.hackernoon.com/is-tether-a-reliable-stablecoin-or-is-it-a-high-risk-asset-b62f32mz)
-
It is a pity that there is no specific information about how much USDT is backed by the dollar or securities, as the team claims. I believe that such information could increase the confidence of cryptocurrency users in Tether.
-
And in my opinion, stable coins are not a big risk because the price is already stable.
I also love cryptocurrency and it's something that can make a little money for everyday life in the real world.
Such as trading between stable coins USDT x Fiat because usually stable coins also always give prices that change even though slightly.
Suppose that from a change of USD to Fiat Euro between 1 changes to 1.3 or 1.4 USD to 1 Euro and even though a change of 0.1 USD is quite profitable when used with 1000 USD.
-
If necessary, I always hold my investments in USDT and I have not had any problems with this, of course there have been some rumors lately that USDT has problems with the SEC, only it is not clear whether this is true or not, and in general, recently more people hold their investments in USDT and I think there is no need to worry about USDT.
-
I think there will be no problems with USDT and I sometimes buy USDT for short-term storage. I am sure that everything will be fine with USDT as negative information would be a disaster for all crypto.
-
USDT is a stable Cryptocurrency coin, so it is very safe. but does not have a high fluctuating price, so if you want to invest with high returns, USDT is not the right choice.
-
Tether (USDT) is the most widely used stablecoin, with a market cap of over $62 billion, according to data from Nomics. While Tether claims that each USDT token.
-
Tether is really a coin that is very difficult to say will be a bad coin because Tether in my opinion is still a good coin to trade with stable coin reserves.
I am also sure that this stable Tether coin is really attractive for all investors who have large funds because Tether has a very large marketcap and of course Tether is a stable coin that I love the most.
-
This tether is really a reliable stable coin because I see this tether when paired with Fiat trading in other countries it is not much different or almost the same as the value of Fiat in the Bank.
I also believe in Tether that Tether is really serious in creating something called psa and fixed price stability throughout the Bank and this is proof of the seriousness of Tether.
-
This tether is really a reliable stable coin because I see this tether when paired with Fiat trading in other countries it is not much different or almost the same as the value of Fiat in the Bank.
I also believe in Tether that Tether is really serious in creating something called psa and fixed price stability throughout the Bank and this is proof of the seriousness of Tether.
Yes I agreez tether USDT is stable coin.
I always used this coin when the market is dump to save my assets.
When market seems will grow, buy more again the coins.
that's my way as trader
-
Maybe now there are a lot of traders who store their coins in stable coins because the market may be considered dangerous for some traders and it is better to keep them in stable coins.
But I prefer coins that have a lot of ecosystems to store my assets, for example I don't have stable coins but I have Solana, Ethereum, Cardano and BNB.
Indeed, a stable coin is very safe, but the rate of increase and decrease is very little, aka the profit and loss is small.
-
Stable coins are not a risky asset to have. They are good for managing assets when is not going in your favour. I used them to protect my asset when there is a bear market and during the bullish I use them.
-
In general I find stablecoins useful and safe assets, but I personally like to opt for other stablecoins and avoid tether since the controversy that went down a couple of years ago. Even though its price is stable, I don't have much trust in tether.
-
At this point, most people wish they had sold Crypto when BTC hit $69K. USDT has always been an important asset for us to protect our investment in this market. If we have 20%-50% assets in USDT, now we can buy many good cryptos at very low prices like LINK, DOT, ATOM…
-
if I am just someone who is investing in the market with the intentions of holding the coins for a long a time, then USDT is the least thing that I am going to consider, because it doesn’t increase in value (doesn’t fluctuate) since it pegged to the US Dollar and would always maintain a value that is same or very close to US Dollar. But as a trader, you would usually see the need for USDT as it’s going to help you save value at times when the market is bad, you can just switch to USDT and save value while the market drops.
-
1 usdt will always be worth about 1 dollar and can't be more, by the principle of its structure. Stablecoin was created so that traders can cope with the volatility of the market, it is a kind of cryptocurrency dollar rather than an investment and it is designed that no one will raise it in value and lower it, yes there are risks, but they are even if you keep fiat currency at home, it simply can depreciate.
-
1 usdt will always be worth about 1 dollar and can't be more, by the principle of its structure. Stablecoin was created so that traders can cope with the volatility of the market, it is a kind of cryptocurrency dollar rather than an investment and it is designed that no one will raise it in value and lower it, yes there are risks, but they are even if you keep fiat currency at home, it simply can depreciate.
Yeah, I have used USDT to cope my asset while market volatile.
Maybe others doing too.
I still believe tether is a reliable stablecoin , not high risk asset.
I think We can keep in USD Fiat, it's also safe. Not depreciate
-
Tether (USDT) is one of the most widely used stablecoins, and its reliability has been a topic of discussion within the cryptocurrency community. Several factors contribute to the perception of Tether:
**Reliability:**
1. **Market Dominance:** Tether is often the most traded stablecoin and is widely accepted on various cryptocurrency exchanges.
2. **Liquidity:** Its high liquidity makes it a preferred choice for traders and investors.
**Concerns:**
1. **Transparency Issues:** Tether has faced criticism regarding the transparency of its reserves. Questions have been raised about whether it has sufficient fiat currency reserves to back the circulating USDT.
2. **Regulatory Scrutiny:** Tether has been subject to regulatory scrutiny, and uncertainties about its compliance with regulations in different jurisdictions may pose risks.
It's essential for users to stay informed about these factors, conduct their own research, and consider their risk tolerance. While Tether is widely used, some investors prefer stablecoins with more transparent and verifiable backing. As with any investment, there are both potential benefits and risks associated with Tether.
-
3 years after your post mate , now its proven that Tether is something that we can trust as stable coin and indeed that reliability needs time tobe proven.
I am a sole tether user in terms of stable coin as I don't use any than this coin.
-
--snip--
**Concerns:**
1. **Transparency Issues:** Tether has faced criticism regarding the transparency of its reserves. Questions have been raised about whether it has sufficient fiat currency reserves to back the circulating USDT.
[b}2. **Regulatory Scrutiny:** Tether has been subject to regulatory scrutiny, and uncertainties about its compliance with regulations in different jurisdictions may pose risks.
[/b]
Yeah people should definitely know that USDT can be frozen anytime, thanks to its nature.
That's why I don't use it, same with USDC. If tomorrow the DEX I use if flagged for having issues with regulators (issues with AML, CTF, or being used by North Korea/other "US ennemies", etc..), my USDT could be frozen and become worthless. I don't trust the regulators and law makers enough when it comes to cryptocurrencies to take this risk. I really prefer to use DAI.
-
There was one piece of positive news that came out today, namely: "Tether, USDT issuer, will actively cooperate with Uzbekistan - plan to jointly develop blockchain technology, P2P and telecommunications infrastructure."
P.S. Who has any opinions on this? Do you still have confidence after such news?
Link to official source: https://tether.to/en/tether-signs-mou-with-republic-of-uzbekistan-to-develop-blockchain-and-peer-to-peer-telecommunication-infrastructure-foster-innovation
-
There was one piece of positive news that came out today, namely: "Tether, USDT issuer, will actively cooperate with Uzbekistan - plan to jointly develop blockchain technology, P2P and telecommunications infrastructure."
P.S. Who has any opinions on this? Do you still have confidence after such news?
Link to official source: https://tether.to/en/tether-signs-mou-with-republic-of-uzbekistan-to-develop-blockchain-and-peer-to-peer-telecommunication-infrastructure-foster-innovation
I think it is positive news. Why we aren't confident with USDT? TBH, USDT is the most stable coins I used for my trading activities. So far, I don't see something wrong with USDT, the market caps looks increasing well.
If it may have a new cooperation for the development, it is a good sign for USDT. It means the teams behind this coin are still aware of developing USDT through cooperation with other parties.
-
Those who say that Tether is a great campaign, it's worth it to them and t.c. And how will you react when your wallet with funds( the same company) = blocked. Because they feel like it?
Here is an example of such a situation: "Tether has blacklisted 4 addresses that hold a total of 21,230,000 USDT."It's the same as always, so few questions and so few answers. ::)
Link to official source: https://twitter.com/PeckShieldAlert/status/1764939314977522158