How safe is Tether.to/USDT?

[sorrros]

With this big sum of money why you do not choose any other alternative? Paxos or Gemini dollar seems like most trusted stable assets with many regular audits.

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[glendall]

theter is one of the very good stable coins, even DAI is less popular with thether,
but here I don't want to compare, it's just that if I look at theter it's not a problem as long as the coin function is still running and there are still many large exchanger who want to accept it.

[dearbesz1219]

Tether changed rules and they are not backed 1:1 to american dollar but to other assets and loans. That doesn't look trustworthy for a long term hodl.

[asriloni]

Tether changed rules and they are not backed 1:1 to american dollar but to other assets and loans. That doesn't look trustworthy for a long term hodl.

They have changed the rules and they have lost all of the credibility and tether is not a credible stable coin again and look at the latest news of tether and how it can print a new tether anytime and the latest bews said tether is a big scam in the world. the team can print even billion tether anytime.

[wack slacker]

I don't like that they constantly print new coins, but you know, usdt is a basement of whole crypto sphere, so crypto depend on it and we should trust to usdt

I agree on your point of view.  USDT is an intermediary asset to prevent market collapse.  When the market collapses, it is better to transfer assets to usdt than to swallow up all markets.

[wack slacker]

Tether changed rules and they are not backed 1:1 to american dollar but to other assets and loans. That doesn't look trustworthy for a long term hodl.

If considering assets to keep for a long time, surely all investors will never choose usdt because Usdt's ability to generate profits is very low and they only buy usdt to see it as a reserve asset when  have investment opportunities and when the market gets worse.

[ilovealtcoins]

Tether changed rules and they are not backed 1:1 to american dollar but to other assets and loans. That doesn't look trustworthy for a long term hodl.

They have changed the rules and they have lost all of the credibility and tether is not a credible stable coin again and look at the latest news of tether and how it can print a new tether anytime and the latest bews said tether is a big scam in the world. the team can print even billion tether anytime.

The issuance of no limits makes USDT like the same currency is USD. USDT with the current number is suitable and assurance rules for USDT makes the other stable coin has the opportunity to compete. If not sure about the opportunity to put the whole of the property of USDT is an advantage as it is stable similarly the same dollar, we will be safer than the difference in a little value.

The crypto market is too small and I realize that every time the market goes up or down, the value of usdt tends to follow.  I have witnessed a time of 1usdt with a price difference of 1usd about 1.05 times.  Therefore, the issuance and circulation of Usdt requires a larger amount to ensure the stability needed for exchange rates.

[Maxre]

nothing is really safe when you are in the crypto scope.
everything can happen and if there is a fluctuation in bitcoin it is natural and depends on how we react.

[Mikcik]

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 now the stablecoin with the biggest cap, over $ 3 billion, so I think your $ 10k compared to the amount they have is very small. If they go bankrupt, many people die before you j/k   

[Red-Apple]

Tether is "safe" as long as you are only using it as a temporary hedge against the altcoin market during its dumps for example when you want to dump your altcoins to get a fiat value and keep it until the dump ends. as long as the duration is not that long (preferable less than a day) i'd say the risks are low.
also another usage would be to transfer value between exchanges.

anything other than that, such as storing it for long term, storing large amounts of money in it,... is the worst idea that you can have. because Tether may not look it but it is really shady and we all know it is centralized and because of that it is very possible that it can disappear some day without warning.

[dungp3132]

There is a drama on USDT, that only 74% of USDT printed from USD or other monetary funds stored in banks. It means there is an assumption that BTC might drop around 30 percent from its current price. However, it is a drama, and I don't believe BTC will fall like this.

[carrigan]

Tether or USDT is a kind of stable coin, isn't it? Actually, it is quite safe to bold, but of course, it may not give you big profits. However, about safe or not, I think every coin has a different chart of their security systems. And so far, there are no big negative issues about it.

[Daha19]

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

it is absolutely not safe, it's just candy wrappers that give out for a dollar, I try to spend less time trading to usdt, but alas, on some top exchanges, trading to the US dollar is closed (

[OptimusPrime_3]

I no longer think tether is safe after they recently minted about 5billion usdt out of nowhere and then burnt it. That wasn't a good News for tether as that shows a huge red flag.  I hope they can make better explanation and correct what just happened

[AgentZero23]

I don't advice you to convert your alt coins to usdt as it is not fully backed by asset as they claimed. They just printed 5 billion usdt and it's not a good sign. Instead convert your alt coins to USDC or Dai because it's much safer and reliable compared to Usdt.

[stigmacryptonight]

I don't advice you to convert your alt coins to usdt as it is not fully backed by asset as they claimed. They just printed 5 billion usdt and it's not a good sign. Instead convert your alt coins to USDC or Dai because it's much safer and reliable compared to Usdt.

That's a very good suggestion, I will choose USDC. For conversions from altcoin to USDC, because in my opinion USDC is one of the stable coins that is safe. And now I save all my assets in USDC. Maybe someone can use this suggestion for those who want to secure their assets because the crypto market is not good.

[ilovealtcoins]

I don't advice you to convert your alt coins to usdt as it is not fully backed by asset as they claimed. They just printed 5 billion usdt and it's not a good sign. Instead convert your alt coins to USDC or Dai because it's much safer and reliable compared to Usdt.

That's a very good suggestion, I will choose USDC. For conversions from altcoin to USDC, because in my opinion USDC is one of the stable coins that is safe. And now I save all my assets in USDC. Maybe someone can use this suggestion for those who want to secure their assets because the crypto market is not good.

yeah.  USDC is better guaranteed with a more reputable organization but it certainly won't be as popular as usdt because there are many blockchain platforms that support usdt such as omni, Ethereum, TRX, EOS and more.

[Cryptostudio.info]

Many traders convert btc to Tether when btc goes down, I consider it very secure but I normally switch to Pax because its value is always the same or very similar to the value on Bitmex

[slaman29]

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.

Those who parked their BTC in Tether during the last ATH would be telling you that they could by 6 times more BTC back when it was at $3k a few months ago. And anyone who parked in Tether 2 weeks ago would be very happy to buy BTC yesterday at 9.2k.

It's all a matter of perspective but you're right. I would never trust Tether longer than a few seconds.

[Drai]

I don't see any reason why you should be thinking of holding USDT for long term, because it's a stable coin and the price never changes so I doubt you would be making any profits anytime soon... Tether is meant to be held temporarily in my opinion, just something you convert to while waiting for other coins you are trading to stabilize.