Bitcoin Forum

I was planning to trade LTC/USDT pair and discovered that Tether.to is not accepting new registrations. Is there any way I can use it? Can I still get an online wallet like omni wallet or exchanges wallet and store it there? Does omni or exchanges give private key to the wallet? I'm a complete noob here, enlighten me please  :-[

If you really need a tether wallet, you can use tether.to The registration is only currently suspended. However, tether is probably not a currency one should trust too much because it is completely controlled by one company. I personally think it is more or less the same as if you would keep your coins on an exchange. In both situations you are trusting a company.

You can easily get to trade LTC/USDT pair on exchanges like bittrex, binance or poloniex, without having to register on the tether platform, which I believe should make things easy for you. Here is a step to guide you.

- Open an account on https://bittrex.com or https://binance.com
- Familiarize yourself with the exchange
- Deposit your LTC on any of the exchange address
- Then, you can search for the LTC/USDT pair and there you have it.

However, as a complete noob who wants to trade, I really hope you know what you are doing.

before you proceed with the trading, please be informed that Tether is a centralized currency and claimed to be backed up by real dollars. However, no one is sure about the legitimacy of this claim. So understand the risk before you move to trading. The only good thing is that the price of this currency is somewhat stable to $1.

Now coming back to your original question. Exchanges won't give you a private key, it will just give you an address to store your Tether. So if you are not planning to trade with a significant volume, you can still use exchange address. But it is not recommended for huge volumes. I am not experienced in Omniwallet, so I won't be able to assist you with that. But my little search shows that you can import your existing wallets into Onmiwallet as well as export/backup them. But I may be wrong here.

Another wallet you may want to try is Bitshares wallet. It has an integrated order book with the wallet so you can trade directly from your wallet. You can give it a try as well. Also let us know your findings.

While you probably don't need a Theter wallet, you certainly need a good LTC wallet. If you haven't figured that part out, I recommend using electrum for LTC. Keep most of your LTC locally in your electrum wallet.

I am using Coinbase's LTC wallet to store my 8 LTC as sometime I need to send LTC to other CB users and I can do that without paying fees (email transfer). I guess Electrum is a software wallet stored on my hard drive which may be  a safe option but I don't want to store my coins on my PC. So, Online wallets seems convenient for me. What's your thoughts on LTC wallet of Coinbase?

That is a really good point and thanks for bringing that up with respect to my initial post. I skipped that since we are in the context of trading but in the real sense, it is important to always store your assets in a decentralized wallet with an address where you have the private key (you simply have no asset, if you do not have the private key to where they are stored) and never put what you cannot afford to lose on an exchange since if anything happens to the exchange, everything is gone. Just thought I should expantiate on that!

Just as I already said above. Coinbase offers a centralized wallet and you only have your public address. If you are holding long term, it is preferable if you are using a cold storage or at least a desktop wallet like electrum or exodus that gives you access to your private keys. You can just leave few of the coins you may want to transact with in your coinbase wallet but not all you have.

Excellent answer  :) This is the answer I was looking for. Thanks a lot!

Thanks for the confirmation and your suggestions!  :)

Oh yes, so in that sense storing coins on coinbase is no different than storing it on exchanges. I have little knowledge on desktop wallets but as far as I know if I have the private key of my wallet stored somewhere safe and if someday my hard disk blows up, I can still get my wallet  and full balance back with the private key, is that correct? Also can I password protect the electrum software?

It is a little bit more complicated than that, but yes you are right. With electrum, rather than dealing directly with your private key, you have to memorise a seed. Your seed is a random sequence of words that correspond to your private key. And you can write them on a piece of paper and store them securely. In case your hard drive blows up, you can install a new installation of electrum wallet on a new disk and just import your memorised seed and all your balance is under your control again.

Not that you can, but you should. That brings another layer of protection to your wallet.

Nice one. Thanks for the explanation. Another fear keeps me from using desktop wallets is that I am skeptical that these apps may secretly spy on my activity and steal things on my pc. Maybe that's absurd, but who knows? Is electrum open source?

Yes it is an open source. The source code can be checked on Github, https://github.com/pooler/electrum-ltc You can find the windows version executable here: https://electrum-ltc.org/ Just make sure you download it from the correct URL

You dont have chance in this pair

I dont use it and can't say for sure but i think you can register this wallet without any problems or you can look for another wallet and trade them through it . It is not  a must to have this one only

I think that it's better to leave Tethers in the exchange platform wallet. Tether has also very high transaction fees due to Omni Layer. That what you need to know is that both Tether and exchange platform wallet belongs to a company and it's centralized.
Most of traders use USDT only to avoid losing money when market crash.

Yes you can still use and trade Tether, having a wallet is not a criteria for trading so long you're using a fairly reliable exchange like Bittrex, Binance, etc. The Tether wallet opening problem will also be resolved in no time and you should not go into trading as a noob, there are lot of content on this forum to assist you.

Tether is also in ethereum platform I don't know if it works fully right now, you will be probably able to store it on ethereum wallet. You can now buy it on exchanges and trade.

You can still use it, but only between exchanges.

When you open an account in some of the USDT supporting exchanges (list here: https://coinmarketcap.com/currencies/tether/#markets), when you click on depositing Tether, they will generate you an address.

Thnaks mate! Much appreciated :)

Bittrex and binance is the best for Tether or  USDT trade so you can start btc-usd or eth-usd or ltc-usd.Bittrex and binance is most safest and security exchanger i was seen so you can try this exchanger for usdt trade.I think usdt trae is best for new trader and no need to keep pricate key for this and always use 2fa for security purpose.

You can check here at coinmarketcal dot com.

https://coinmarketcap.com/currencies/litecoin/#markets
https://www.okex.com/market?product=ltc_usdt
https://www.huobi.pro/ko-kr/ltc_usdt/exchange/
https://hitbtc.com/exchange/LTC-to-USDT
https://www.binance.com/trade.html?symbol=LTC_USDT

well that's the link, hopefully can help you in terms of trading LTC - USDT.
spirit !

I think there are some ways that can be a alternative aside from tether (USDT) wallet. You have to be resourceful enough in order to overcome that problem because it will enhance your skills.

I think yes, you can use and trade it without the tether(USDT) wallet, because in cryptocurrency there are lots of ways on how to trade and income in legal ways .

Tether is currently most popular stable coin and mostly all big exchanges provide wallet for Tether, but now there are any rumors Tether is not legit and not auditable. In the market now there are others stable coin that comply with AML and auditable, like GUSD, USDC, and more exchanges added another these stable coin.

Many crypto exchange still offer trading pair crypto with stable coin of USDT, and USDT still has the highest trading volume and market cap compared others stable coin. To trade USDT with others crypto is not need to create the personal wallet, and if you want to hold any crypto in personal wallet is better hold Bitcoin because this coin has more potential to offer big profit in the long run.

You can't really "use" it, it is just for trading on the exchanges so you know how much dollars you have but it works for nothing else. I have always hated tether and I would suggest you to not use them for now anyway. However if you really want to than you can go to any exchange that has tether and just pick it up with your money, than you can start to trade it with any coin they provide to the tether pair.

Usually they allow you to trade big coins like bitcoin and ethereum and what not. I would honestly prefer to trade bnb at binance for other coins instead of using tether. At least that one has a purpose and a reason to exist, help you get your trading fee half down instead of paying the full price for it. Tether doesn't have that and it is used nowhere and worth nothing.

You can still trade with LTC/USDT pair on so many exchange like Binance, Bittrex, Hitbtc, Cryptopia etc. But I personally recommend Binance exchange.