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Author Topic: How safe is Tether.to/USDT?  (Read 6685 times)
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September 21, 2020, 02:03:49 PM
 #201

Not safe for criminals or any illegal activities and fraud money, honestly I just trust USDT more than even BUSD and USDC, it's a matter of choice of course but definitely a bad choice for scammers, hackers and fraudsters
I think so because the stolen amount can be frozen anytime when there was a report about that, if USDT has a very bad reputation like what already accused by some people and it will never be used by a lot of people in all of crypto exchange sites.
some exchanges already have their stable assets or other stable assets that support the daily trader. The USDT may have a large market, but like binance, it has created its stable assets and is now even supported for fiat currencies.
Binance's stable coin or any other exchange's stablecoin is honestly only good at their ecosystem while USDT is the most widely accepted stablecoin till now and have existed for many years without any scam acussation.
It's just a matter of your choice and heavily depends on which exchange you decide to use.

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September 21, 2020, 03:36:04 PM
 #202

It safe enough to use it for everyday trading - short answer. If usdt will collapse then the whole crypto will collapse
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September 21, 2020, 05:28:26 PM
 #203

The problem is not the crypto/token asset the real problem is the wallet where you store them. If you store you Tether.to/USDT on a Exchange or unsafe wallet, your are not safe. If you store it in your own wallet, you are in the safest position as you can.
So in essence the security of your money depends on how you keep it, if stored in a safe place it can reduce the risk of thieves,Free to choose a well known wallet and large exchanges. Keep your passwords lest anyone else find out. Increase security to the most level high

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September 21, 2020, 09:07:29 PM
 #204

The problem is not the crypto/token asset the real problem is the wallet where you store them. If you store you Tether.to/USDT on a Exchange or unsafe wallet, your are not safe. If you store it in your own wallet, you are in the safest position as you can.
So in essence the security of your money depends on how you keep it, if stored in a safe place it can reduce the risk of thieves,Free to choose a well known wallet and large exchanges. Keep your passwords lest anyone else find out. Increase security to the most level high

USDT was a safe project. Mostlly the price of usdt won't reduce below of 9.99 or 9.98 usd.So you won't lose much in this two coins.If you hold your money in a Locker, it may be stole by thieves, wallet is safer one now then that of Lockers.Don't forgot to save your private key.

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September 21, 2020, 09:23:17 PM
 #205

It is very safe to save the money we have in USDT, because the price is not volatile and very stable. So if we look at cryptocurrency
market capitalization, USDT trading volume is the highest, even USDT volume is above Bitcoin. Because investors trust is quite high
in USDT. I also keep most of my capital in USDT, so there is no need to worry about the crypto market which is currently experiencing
a correction.


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September 22, 2020, 07:16:33 AM
 #206

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?
In long term Tether is pretty unpredictable, there are both good reviews and rumors around it.
I believe you can safely put any amount in it for a year at least, but I still would keep an eye on it and news about the company.
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September 22, 2020, 10:22:38 AM
 #207

If you aren't storing big money in USDT you shouldn't be scared of getting your address freezed, spread your fund across other stable coins as well if stable coins is a must have for you, there are USDC, BUSD, DAI and few others too, I have no problem with USDT and this can't make me stop using it too
tbh if anyone who uses the stablecoin didn't do anything shady or criminal then there should be nothing to be worried of in term of money freezing. most of the time they freeze and demand for KYC indeed but that's just it and it rarely happens.
Moreover if the money is a small money these stablecoin provider not gonna care that much.

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September 22, 2020, 10:25:02 AM
 #208

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 always risky to hold any big amount in exchange even if is USDT which is supposedly backed by real us dollar. Always keep it in a personal wallet and preferably hardware wallet.


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October 02, 2020, 06:29:31 AM
 #209

Imagine a NEW crypto with the Name 'Rope' has a trading volume of over 5 millions usd on uniswap. A visit to the website 'https://rope.lol/" has a BOLD Image of a hanging rope with further inscription 'Do not buy it' followed with a grinding face that looked like someone who got scammed.
In a summary, the webpage is saying. do not buy 'ROPE' you could loose everything and you will regret it. But the reverse is the case.  As a matter of fact. this token made 118%
within 24 hours of listing and have a volume of 5 millions usd on Uniswap.
My observation on this. Most people no longer care about the objectives of a project. they just want to Make GAINS.
the days of do your Research is fast diminishing and most market users cared less about what they do with their money that they can invest on a project with BOLD description "this is a scam' as long as there is a return.
i tried to trade the token but after visiting the site, i lost my little sense in trading on uniswap.
I think you should understand 2 things after witnessing this particular case: 1) almost any coin possibly can be listed on uniswap, all responsibility on your side and that is the price of DEX service.
2) after 2015, year when bitcoin started to hit big numbers there already were people who were here for gains only.
For sure there are more of those in here now, but there tons of serious investors that are interested in projects developing
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October 02, 2020, 08:56:09 PM
 #210

Hasn't tether always been close to the dollar ever since?


So if someone had a ton of tether like 5000 usdt or 50000 usdt, shouldnt they feel safe though?
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October 02, 2020, 09:11:11 PM
 #211

Hasn't tether always been close to the dollar ever since?


So if someone had a ton of tether like 5000 usdt or 50000 usdt, shouldnt they feel safe though?
But do you feel safe as holding $50K or $500K in fiat? For me no. USDT is centralized and often seized even on our wallet for shady transaction history even if you are not involved in any such activity.

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October 02, 2020, 10:05:40 PM
 #212

Hasn't tether always been close to the dollar ever since?


So if someone had a ton of tether like 5000 usdt or 50000 usdt, shouldnt they feel safe though?
But do you feel safe as holding $50K or $500K in fiat? For me no. USDT is centralized and often seized even on our wallet for shady transaction history even if you are not involved in any such activity.


If i had that type of money in my US bank account, of course I would... unless im missing what you mean here?


But if you had that type of money in USDT, you would be concerned?  Because all i see in the last few years, tether has always been on par with the dollar... sure it might bee 0.98 at the worst i believe.. but arent you always going to pegged it to the dollar?  So are you saying its possible one day if someone has like 50000 usdt... then its possible on a day... that 50000 usdt could be worth half that or nothing?  Is that even possible?  If so, what could make it possible?  If btc is worth close to nothing?  Then again it should be on par with btc right?
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October 02, 2020, 10:50:42 PM
 #213

Though anything related to cryptocurrency is always attached to risk, but for me is better risking saving ur money with USDT than anyother coin if I get u right, when u are in USDT, nothing to fear because no dip nor dump.

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October 03, 2020, 12:48:28 AM
 #214

Hasn't tether always been close to the dollar ever since?


So if someone had a ton of tether like 5000 usdt or 50000 usdt, shouldnt they feel safe though?
But do you feel safe as holding $50K or $500K in fiat? For me no. USDT is centralized and often seized even on our wallet for shady transaction history even if you are not involved in any such activity.


If i had that type of money in my US bank account, of course I would... unless im missing what you mean here?


But if you had that type of money in USDT, you would be concerned?  Because all i see in the last few years, tether has always been on par with the dollar... sure it might bee 0.98 at the worst i believe.. but arent you always going to pegged it to the dollar?  So are you saying its possible one day if someone has like 50000 usdt... then its possible on a day... that 50000 usdt could be worth half that or nothing?  Is that even possible?  If so, what could make it possible?  If btc is worth close to nothing?  Then again it should be on par with btc right?
If you are talking about the price alone yes still I am concerned and I won't be holding USDT for longer I will prefer Fiat rather.

USDT has been printed a lot in this year and no one really knows it is pegged to the dollar value or enough of USDT in the reserve to back it up. Compared to USDT, DAI is better stable coin to hold because it is decentralized.

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October 03, 2020, 07:21:38 AM
 #215

The both coin or token are stable coin, which traders normally used Tether/USDT to hold on trade, while analysing the market movement, in other words, the coin are designed to be stable, one is to one dollar, in the crypto currency industries.

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October 03, 2020, 12:10:22 PM
 #216

for now the movement of USDT is relatively more stable than other coins, even so in the world of cryptocurrency it is not 100% safe, because basically the nature of cryptocurrency is fluctuating

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October 03, 2020, 12:25:34 PM
 #217

for now the movement of USDT is relatively more stable than other coins, even so in the world of cryptocurrency it is not 100% safe, because basically the nature of cryptocurrency is fluctuating
from the past, did you see the USDT movement in the market can be very volatile? USDT is a stable asset of course its movement will not be as fast as other cryptos. although it will not equal the fiat USD, it is still believed by many to be the most popular stable asset.

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mich
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October 12, 2020, 06:10:18 AM
 #218

I read that some 'experts' are predicting that in 2021 that USDT will replace ETH with the Number.2 spot in Market Cap.

USDT right now has market cap of 15,735,170,074$ and ETH is 42,356,606,836$ so it still has some ways to go.

Main reason is popularity in Stable Coins and USDT was the 1st one. 
VDraci
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October 12, 2020, 06:22:13 AM
 #219

USDT have gain strong foundation around crypto space now and if it collapse it will go down with crypto, yes, USDT is that strong, it's available on OMNI, ETH, TRON blockchain and almost 99% of crypto exchanges implement USDT pair trading, it's the no 1 stable coin out there

mich
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October 14, 2020, 12:15:05 PM
 #220

USDT have gain strong foundation around crypto space now and if it collapse it will go down with crypto, yes, USDT is that strong, it's available on OMNI, ETH, TRON blockchain and almost 99% of crypto exchanges implement USDT pair trading, it's the no 1 stable coin out there
With 70% of the trading volume being for USDT it is no wonder why this is most popular and used Stable Coin.

Just for a comparisons purpose, BITCOIN trading pairs accounts for about 15% of all trading volume.

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