Bitcoin Forum

Within these several months, there is a bear market in cryptocurrency.
As we know,  USDT is a dollar-pegged token, each USDT is backed by one U.S. dollar without fear of market fluctuations.

But how can we use USDT to make a profit in such this market？
The majority might say no.

Is there any decentralized wallet can do this for users in the case of ensuring the principal?
wanna figure it out

I was also under the impression that one can use usdt to preserve the value of earnings since its pegged to the value of usd and as such should be very stable compare to other coin, which means you can sell btc to usdt when the price is high and latter buy back btc with usdt when the price is low since usdt is suppose to be stable and don't fluctuate, but the question now is does usdt actual can be stable even in the worst condition of market?

if you want to benefit from the only one way is to follow the ico token that you believe that the project will give you income

You may not be right to say that we cannot make a profit from USDT. This is possible because in our country there is an exchange platform where you can make transactions to make a profit based on the USDT price difference. You can still earn profits from USDT.

It's impossible to profit in the market if you are using USDT. Cryptocurrency market fluctuates a lot while Tether sticks with USD, so its really impossible no matter what you do to profit in the market while there is a run in price.

The concept of a stablecoin, or a cryptocurrency which has its value pegged to a fiat currency, is mostly thought to be beneficial to traders. Tethers (USDT) are often seen as a safe haven for traders who want to avoid periods of market volatility.

I only use USDT when market is falling, I quickly convert about 70% of my coin holdings to USDT in other for my portfolio not to over depreciate in an unfavorable condition. I do trade BTC against the USDT too. I am not aware of any program that pays dividend in USDT except some very few rare bounties that pay in USDT instead of their native tokens.

I don't use it as much as possible even for trading :) Why should I use its wallet :) It makes more sense to use TrueUSD instead of Tether. The reserve can be traced for TUSD.

Stable coins are a tool for hedging risks and not for making a profit. So people fix their profits in stable coins

You can't make a profit with usdt expect some uncanny times (like when it was 0.80-0.90$ each)

However if you turn crypto to usdt right time you can grow your portfolio. Like if you turn btc to usdt when it was 20k and buy back when 4k it means you have still 20k worth of money but instead of 1 btc you have 5 now.

Definitely yes, as they are created to be a stable coin, people will still consider it as stable even the market seems no good. In addition, developers might also set the exact price of the USDT in order to avoid it to be dumped when the market is critical. That is so, USDT can stay at its position no matter what happens, maybe small fluctuations may do.

That is something that  can be said for all other stable coins too not only USDT, I do agree that stable coins made trading much easier but at the same time stable coins are one from many reasons responsible for the falling of Bitcoin even if it is not in a direct way, we all remember when people would convert their coins to Bitcoin in bad market so even when other coins was falling Bitcoin may hold its ground but now since stable coins are widely used people started to convert to stable coins which helped the market to fall farther.

So USDT will continue to be stable there will be no drastic decline so many people use USDT to hold and trade.

Honestly i dont get and fully understand what you mean even the Thread title is confusing, But lets put it these way, USDT is a stable coin so dont expect to make a huge profit out of it stable coin is pegged in US dollar so its like you are doing a forex thing like fiat trading, and you mention also a USDT Wallet i think it has already USDT wallet in existince just try to look around im sure you can find it.

You are looking for a wallet where your USDT can earn interest. That does not exist. USDT is not a currency. There is no lending market using USDT, nor banks or financial operators. USDT is only a currency used by exchanges to facilitate transactions.

But there are several other stable coins projects where you can earn interest. One of the main ones is the DAI. Where you can profit from DAI or ETH.

https://makerdao.com/en/

DAi uses what is called collateralized debt positions (CDPs). They are smart contracts that allow you to borrow or receive a loan.

With stable crypto, profit will be a little bit hard. Yes, there are small movements, but you need to know the time of those movements and have a very big money. A couple of months ago there was a big price difference, but we can not know when it will be repeated.

You want to deposit USDT and take some interest of it while it's sitting on that dedicated wallet?

---

Don't look for a wallet like this, you are peg to scammers if you have a mindset like this. Just accept the fact that the main use of USDT is to save the value of your holding for awhile if you are afraid of fluctuations.

And the title of this thread is a little bit misleading. The USDT is only good to save our profit from the market and that's it the real point of USDT, until we will never try to put it into the promising platform and that will never grow.
It backed by fiat that makes USDT stable.

I don't believe in USDT wallet, for me is another way scammers are using to gain their ground. Scamming now becoming rampant this days and with this USDT wallet, a set of new people will be scammed again

Even if we can make profits from USDT, I am sure the amount should be not really high. Why not choose other coins that have higher potential to make profits. There are a lot of choices such as Ethereum, Ripple, Litecoin, Binance Coin, and etc. Those coins are much better to buy as our investment. They have high volatility and it allows for significant increases.

The chances for making profit using usdt is very slim, this currency is very stable and fluctuate really slow, its good to be used as currency but for trading or CFD it's not a good coin, usually people used the usdt features as the pair for trading, not to make any profit

For trading and speculation reasons usdt is a good tool. if you think market will go down, sell for usdt and buy your cryptos on a lower point back.
me personally havent used or owned usdt ever, im not a trader i'm an investor. i believe in bitcoin so i'm in for the longterm.

Many people who were able to successfully fix their profits really became much richer now, and those who did not have time to do so now became very poor. These situations are comparable to real life situations in the real world.

If you see such a wallet - know, they are fraudsters.
Do you want to increase the number of USDT? Use the trade: buy bitcoin for 5000 dollars, and sell for 6000 dollars. So much for the profit in USDT! :)

Which one of these lets you send USDT without having to pay tx fees in either ETH or BTC? Can people still open accounts for the official online Tether wallet?

Yes, bitcoin is good for the long term, while USDT is only for daily trading, because prices will not go up high will not go down.

USDT is a game changer in the crypto market and any wise trader should learn to use it to their advantage. The value is pegged against the US dollars which makes it stable. So traders use it to hold up the value of their investments during the bear market or dump period, then use the money to buy the bottom and wait for the bull run or pump to make maximum profit. It is a necessity for every wise trader.

Tether is not about profit, it serves for the development of cryptocurrency. The more stable the cryptocurrency, the more people will use it, the more easily it will be for all of us to live.
In particular, it is very convenient for institutional investors and business in general:  fast, anonymous, and at the same time stable transactions. You wouldn't make such transfers with ETH, cause it "jumps". Well, probably you can, but on a global scale, it won't become popular. As I said before, the business still needs stability.

I am not a fan of USDT, but I can tell you that USDT have made me a lot of profit in the trading market and still making money, especially when we are having a bearish market.

Since, the price of USDT is stable and can't change, it is possible to swap a coin to USDT once the market is bad, and then swap back to that same coin once the market wants to look good, trading between USDT and other coins make me up to 10% profit daily.

There is no guarantee to earn 10% profit daily with USDT but your idea on how to use it is correct and being used by a lot of traders. Actually, we can just convert our altcoins into fiat money; however there are limits and fees are expensive if we're going to do it vice versa. With USDT also, we're using cryptocurrency as a bank and not as an asset.

   I still don't fully get stable coins'  universe and what's going on with them and how to react. However  altcoins  look like going to be over and these BTC fluctuations a little bit above 5000$ were the last-ditch effort. The market signals show there are no plenty of alternatives. new era of crypto is coming, and it won't be like bets or  stock exchange. lets try to adapt to it and accept it as real money.

Usdt is only useful in retaining the USD value of a coin especially when it's drastically going down and you are looking for something to edge out the risk and buy again later when there's a sense of stability in the market. As per usdt being peg with USD, I don't think all usdt in circulation are being pegged with USD

Ensuring what principles ? You mean that you want to be sticking within decentralization yet you want good returns for your capital along with US dollar backing for not worrying about market fluctuations, right ? I guess there is no such opportunity is existing. Reserve backing up is possible only for stable coins hence you cannot multiply your capital with stablecoins.

USDT can be used to STORE or LOCK dollar value. I heard traders are going for shorting way of trading by making use of stablecoins such as USDT.

Since the price of USDT is already fixed, there is no way profit can be made, except you invest it into a coin.
Although, if you keep or store your fund in USDT and btc dumps, if you eventually buy bitcoin at a lower price and wait for it to rise, you will make your profit.

I think with the existence of stable coin such as USDT, many traders can trade and making profits with this coin.
Some companies reserve their cryptocurrency by converting it to USDT to facing the volatility of cryptocurrency value.
I guess you can use USDT for trading to get most profit.

As everyone says above I'll agree with it. USDT just stable coin that you won't have a chance to gain profit with it, either for long term investment or short term investment. I never watch the USDT price up more then $1,5 the price just touch $1,5 in a high. Most people just use USTD for trading pair or they safe the coin into USDT when the market ongoing.

Why not, there are many altcoin listed with USDT, you can invest in altcoin that can increase. It is investment and investment always comes with risks

Tether is not created for the purpose of making profit because its being controlled and the value does not fluctuate, since tether market is not a volatile market, the only benefit of it are the ones you and I knows, having you money stacked in a safe zone.

It is also very effected as utility token, it is tether that I see can really compete with cash and banks. The principal use of tether is use to keep ones coin value from other tokens without having to change it to fiat when the market is going down, I think tether is more beneficial to traders too, not in profit making but in terms of the services being rendered by it.

USDT plays a key role in crypto, just behind bitcoin. In other words, if bitcoin is the first backbone of crypto world, USDT is the second one. It has also been considered as one of the most stable altcoins, that operates on the second layer of bitcoin network. Bitcoin and USDT has mututal correlation, and can not survive without each other, in my perspective. So, if bitcoin has changed our lives, it will be the same for USDT because they can not be separated each other.

Is there a desktop wallet for USDT like Bitcoin Core or only exist online wallets like tether wallet?

If I may get it right, I am just trying to get use to this whole tether idea and its usage, I thought tether is only to preserve your investment, and since there is not form of increase or decrease going on, you can only use it to store your fund, so even if they pair it with other altcoins, it is not the USDT that is increasing, it is the altcoins itself that is performing the increase, while people change it immediately to USDT to preserve that particular value of the altcoins, instead of keeping it in the coin because of its high fluctuation rate.

Tether USD is something like an insurance stable asset and can be used to determine value of Bitcoin at first, then altcoins. It is a bit strange to see Tether USD has such role in crypto, especially for Bitcoin because it is built on the second layer of Bitcoin network. Today, years after the birthday of Tether USD, it has played solid position in crypto. There are some potential substitutes, but itis hard for them to really replace Tether USD.

At first, I do not think that USDT is really pegged 1:1 to USD.
At second, I do not think that it is a decentralized cryptocurrency, so why you are thinking about a decentralized wallet? It doesnt matter or?

USDT is a stable coin, but if you are into trading this is very useful, why because, you can put your money in their wallet, and whenever the market is down you can use this to trade others, id rather use USDT rather than other coins, for me it is very useful compared to the others out there.

There are no such Tether wallets like BTC core wallet is. Official sites of Tether has had only Web Wallet. You have to register on their website to use the wallet and pass KYC to convert USDT to USD. Here are some https://cryptocreed.com/best-tether-usdt-wallets-in-2019/ best tether wallets.

And for Official tether wallet was hacked and more than 31 Million of USDT was stolen in back 2017.