johnwinds123 (OP)
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June 13, 2016, 02:49:39 AM |
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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 support@tether.to), 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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vlom
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June 13, 2016, 08:57:06 AM |
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sorry. but i can't answer your question. because i searched for tether to find an answer to you question...
and because i dont have any experience with Tether.to i will hold my USDT on polo.
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johnwinds123 (OP)
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June 14, 2016, 11:19:27 AM |
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Hi vlom,
Isn't that risky to hold money on an exchange? I lost a couple of BTC on MintPal, and almost lost some money on Cryptsy (had to sell coin for Doge at a bad price to get out). Since then I try to never keep money on any exchange (even if it's supposedly safe, like poloniex).
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mobnepal
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June 14, 2016, 05:30:11 PM |
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Hi vlom,
Isn't that risky to hold money on an exchange? I lost a couple of BTC on MintPal, and almost lost some money on Cryptsy (had to sell coin for Doge at a bad price to get out). Since then I try to never keep money on any exchange (even if it's supposedly safe, like poloniex).
It is very risky to trust any one exchanger totally, its better to hold all bitcoin in different exchanger and you can sell them whenever you like and with this you can also do arbitage trading in different platforms. |
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yudy
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July 01, 2016, 02:01:03 PM |
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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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amacar2
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July 01, 2016, 05:39:15 PM |
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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
Isn't tether meant to be used globally? Did they also have country restriction, i am also in quite deli-ma just like OP in holding my fiat in tether as i have heard it is also a decentralized platform with fiat backing its value. Beta stage sound really scary to hold, so i think its better to hold in perfect money wallet half and half in fiat form in exchanger. |
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Lagduf
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June 21, 2019, 01:47:30 AM |
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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
Oh yeah, it's country and not exchange site. Go to the mcap and find how many markets are still accepting tether. https://coinmarketcap.com/currencies/tether/#marketsNot all of country can't access it because that depends on the regulation that followed by exchange site. If you are talking US and then only a little percentages |
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DebitMe
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June 21, 2019, 01:55:14 AM |
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I dont think you can transfer money into tether anyway. Last time I checked it is still locked down for new users.
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tsaroz
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June 21, 2019, 02:42:02 AM |
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Tether is a stablecoin from bitfinex exchange. They are backed up by the same amount of USD reserve. There were some accusations and problems in its accounting but now I believe everything is settled. They proved they do hold the proper amount to insure the price of the token and Tether is one of the most legit centralized stablecoin to trade with.
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Nalbo
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June 21, 2019, 02:44:23 AM |
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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 support@tether.to), 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 Tether is the most used and widely accepted stable coin. They have the largest volume among stablecoins and are stabler than many others. Tether is used as a tool by daily traders and also is a mean of making cheaper option for interchange transfer as the withdrawal fees are lower than most of crypto and it retains the USD value at the time of exchange. |
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Tipstar
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June 21, 2019, 02:47:01 AM |
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It's in the top 10 by marketcap for a reason. Tether is the first of widely recognized stable coin. There were many others but they were either low in volume or were not able to retain the fixed value while Tether became the first to successfully convince people of its stability. And it's the only stable coin you could find in almost all exchanges.
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z21770179
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June 21, 2019, 03:46:03 AM |
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The amount of 10k compared to the value and current circulation of USDT is very small, I don't think there will be any risk with such an amount.
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pinoy.bolanon
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June 29, 2019, 04:47:41 AM |
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Everything is risky my friend, and there is no solid proof that this project will exist for so long, we all know the game of crypto, some of it, popular at the current time, but after so many months they are gone, i could not say that it would not last long, but my point is that we are aware of what we are doing or taking, but for now, i trust USDT and some of my funds are stored in it in some exchanges as i do some short trading to my coins.
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Jpti
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June 29, 2019, 05:31:41 AM |
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I think stable coins are the best way to store your bitcoin or ethereum to retain the value of your bitcoin. So stable coins are meant to serve this purpose of the people to store their money and tokens. As far as I know tether is performing well in the market, and it is the old and established coin. I favour this coin.
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r_delossa
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June 29, 2019, 10:21:01 AM |
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USDT has a bad reputation on this forum, because they do not have a limited supply. They always releasing like 10 million of new coins, without any background and due to this fact a lot of traders are making loses.
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ivaf
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June 30, 2019, 10:32:29 AM |
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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 support@tether.to), 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 There is an old proven way. Bring your virtual dollars to fiat. And keep them in cash. Well, do not forget about the other stablecoins (for example, TUSD, PAX). |
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Atang Sulaeman
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June 30, 2019, 10:49:22 AM |
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what I know for Tether.to/USDT is a stable currency because it follows fiat currencies.
but all risks must be there.
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martychubbs
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July 14, 2019, 10:28:38 PM |
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Hi vlom,
Isn't that risky to hold money on an exchange? I lost a couple of BTC on MintPal, and almost lost some money on Cryptsy (had to sell coin for Doge at a bad price to get out). Since then I try to never keep money on any exchange (even if it's supposedly safe, like poloniex).
It is very risky to trust any one exchanger totally, its better to hold all bitcoin in different exchanger and you can sell them whenever you like and with this you can also do arbitage trading in different platforms. Agreed. Keeping Btc in one exchange is very risky. It locks up your money. Better to hold off the BTC among different exchanges. |
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Belianez
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July 14, 2019, 11:02:14 PM |
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I have long been using usdt and never had problems with the fact that the coin did not reach and so on , a lot of negativity about this coin but I think not reasonable , I keep a lot of money in the usdt and do not worry about it.
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chocopapaya
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July 15, 2019, 12:59:42 AM |
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Unfortunately, I would say, tether is not safe at all.
Also, why would you want to park your usd in tether while btc fluctuates?
Wouldn't you rather actively trade to take advantage of those fluctuations.
Another thing to consider, is do you even need a stable coin?
In a lot of ways, a stable coin can actually work against you.
The main reason is that the stable coin is actually not really stable at all.
It's only real use is to use it in crypto trading and the market is entirely unstable.
I mean, just think of this, keep your usd in a normal savings account, you'll at least get some interest.
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