Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => USDT Forum => Topic started by: yousufatik on September 28, 2018, 11:58:43 PM
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Hi everyone,
I'm just wondering about people's opinions on how safe is Tether.to/USDT? In terms of putting largish amount of money in there ($10k+), what is the risk of the service going out of business, or not honoring withdrawals? I.e. what is the risk of another Mt Gox, Mintpal or Cryptsy incident on here?
I can see that it still says "Beta" on the main page, and that it's a Hong Kong outfit. Not sure what kind of financial regulation/overwatch they have over there when it comes to these things.
I guess other little warning bells are that they don't have an easily accessible support link on their user interface (you can however email [email protected]), or at least I couldn't easily find it.
Is there a safer way (which is still easy and cheap) to park some USD while BTC is going through it's fluctuations?
Thanks
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I think save, but low use tether, only bitfinex and polo support tether, and tether not support all the world country, several country can't acces and not supported membership and use tether
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There is a risk with Tether like any other crypto. It is not backed by anything substantial and is only implicitly tied to USD, if something major happens then it would definitely drop below 1:1. Short term it can be worthwhile to trade in tether but long term I would advise against holding large amounts of tether.
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in my personal opinion the use of USDT is very safe and comfortable, I really like to have USDT, and I really believe the potential for the future will be better in the future, and we can save and benefit from it all.