Tether/USDT verification

[ulhaq]

Has anyone undergone their verification process to buy USDT directly and what is required? It used to be 2 forms of photo ID, bank statement, etc, etc, but that was a year ago, is it still the case? I do not mind verifying my identity but I would be more concerned that tether would get hacked and then I'd have to worry about identity theft.

[1714138948]

1714138948

[Loepuenkyou]

requirement ID verification in tether/USDT ini tether.to is very high
and not all country supported and can join to USDT, in my country not support to join in tether.to
so you can't upload fake ID, must new and not fake

[tobi4255]

Has anyone undergone their verification process to buy USDT directly and what is required? It used to be 2 forms of photo ID, bank statement, etc, etc, but that was a year ago, is it still the case? I do not mind verifying my identity but I would be more concerned that tether would get hacked and then I'd have to worry about identity theft.

Even though subject is a tad bit old, here goes.

I just did my verifications a few days ago.. I am from Denmark and my country is supported

The process was insane to be honest. I had to:

• Upload proof of residence (not older than a couple months).
• Upload a selfie with me, my passport, and a custom message with date and the word "tether" + my signature it
• Upload the bio-data page of my passport + enter passport number
• Upload both a front and a back scan of my national ID card.
• Connect my mobile phone to their 2fa security
• Connect my Bank account with iban number / Swift etc.

So far, i've waited 3 days time for a response or approval. If anyone is considering verifiying a tether.to account then please be aware they wont accept screenshots etc of your documents, only files scanned are approved.

[European Central Bank]

why the hell are you going balls deep with tether considering you still can't turn them into real dollars?

[tobi4255]

why the hell are you going balls deep with tether considering you still can't turn them into real dollars?

Say whaaaat? It is explicitly mentioned on their site that verified users can withdraw USDT to their connected bank account at a 1-to-1 rate for real USD..

You are saying this is not possible "still"?

Please elaborate that.

[European Central Bank]

Say whaaaat? It is explicitly mentioned on their site that verified users can withdraw USDT to their connected bank account at a 1-to-1 rate for real USD..

You are saying this is not possible "still"?

Please elaborate that.

tether has the same problems that bitfinex does. they bank in taiwan and taiwanese banking has been frozen out of international transfers. you can't put money in or take it out. this was a few weeks ago and nothing's changed since.

at one point tether had fallen to about 91c per dollar in the places you can trade it against usd like kraken.

https://cointelegraph.com/news/tethers-bank-problems-create-unease-as-token-value-slides-below-1

[tobi4255]

Say whaaaat? It is explicitly mentioned on their site that verified users can withdraw USDT to their connected bank account at a 1-to-1 rate for real USD..

You are saying this is not possible "still"?

Please elaborate that.

tether has the same problems that bitfinex does. they bank in taiwan and taiwanese banking has been frozen out of international transfers. you can't put money in or take it out. this was a few weeks ago and nothing's changed since.

How professional of them to put a notice somewhere on the site. *excuse my sarcasm*

I've heard some major concerns being aired regarding Bitfinex. Should i worry that USDT could go belly-up, or simply dissappear?

I did not know Bitfinex and Tether.to was affiliated. Thank you for the info Sir!

[European Central Bank]

How professional of them to put a notice somewhere on the site. *excuse my sarcasm*

I've heard some major concerns being aired regarding Bitfinex. Should i worry that USDT could go belly-up, or simply dissappear?

I did not know Bitfinex and Tether.to was affiliated. Thank you for the info Sir!

one thing bitfinex has never been is professional.

bitfinex's parent company, ifinex, is involved with tether.

read their terms and conditions carefully and you won't be reassured.

https://tether.to/legal/

"There is no contractual right or other right or legal claim against us to redeem or exchange your Tethers for money. We do not guarantee any right of redemption or exchange of Tethers by us for money. There is no guarantee against losses when you buy, trade, sell, or redeem Tethers."

maybe it'll all be fine but there's no way i'd take the risk.

[ulhaq]

Current value of tether: $0.971510 USD

So almost 3% off. If you were to purchase it now and it gets back to dollar parity, then you would make a 3% profit.

[Samarkand]

Has anyone undergone their verification process to buy USDT directly and what is required? It used to be 2 forms of photo ID, bank statement, etc, etc, but that was a year ago, is it still the case? I do not mind verifying my identity but I would be more concerned that tether would get hacked and then I'd have to worry about identity theft.

Even though subject is a tad bit old, here goes.

I just did my verifications a few days ago.. I am from Denmark and my country is supported

The process was insane to be honest. I had to:

• Upload proof of residence (not older than a couple months).
• Upload a selfie with me, my passport, and a custom message with date and the word "tether" + my signature it
• Upload the bio-data page of my passport + enter passport number
• Upload both a front and a back scan of my national ID card.
• Connect my mobile phone to their 2fa security
• Connect my Bank account with iban number / Swift etc.

So far, i've waited 3 days time for a response or approval. If anyone is considering verifiying a tether.to account then please be aware they wont accept screenshots etc of your documents, only files scanned are approved.

Wow, this is really crazy! Here I was thinking that some gambling sites had ridiculous requirements for verification, but Tether apparently plays in yet another league.

It is interesting though, that in the bloodbath today, Tether seems to be the stable safe harbour due to its unique nature compared to all the other cryptos.

[xiaohang07]

The verification is just so strict.

[marioG]

I'm using USDT at Poloniex, and never had any issue.

[sp_skeptic]

why the hell are you going balls deep with tether considering you still can't turn them into real dollars?

Say whaaaat? It is explicitly mentioned on their site that verified users can withdraw USDT to their connected bank account at a 1-to-1 rate for real USD..

You are saying this is not possible "still"?

Please elaborate that.

Read the terms of service. Tether specifically and unequivocally disclaims any obligation to exchange Tethers for fiat.

[European Central Bank]

Wow, this is really crazy! Here I was thinking that some gambling sites had ridiculous requirements for verification, but Tether apparently plays in yet another league.

It is interesting though, that in the bloodbath today, Tether seems to be the stable safe harbour due to its unique nature compared to all the other cryptos.

you're dealing in dollars ultimately, and it's a dollar token put together by ass covering idiots who have long practiced zero transparency. of course they're gonna try and dot the i's.

[derzsia]

Has anyone undergone their verification process to buy USDT directly and what is required? It used to be 2 forms of photo ID, bank statement, etc, etc, but that was a year ago, is it still the case? I do not mind verifying my identity but I would be more concerned that tether would get hacked and then I'd have to worry about identity theft.

Even though subject is a tad bit old, here goes.

I just did my verifications a few days ago.. I am from Denmark and my country is supported

The process was insane to be honest. I had to:

• Upload proof of residence (not older than a couple months).
• Upload a selfie with me, my passport, and a custom message with date and the word "tether" + my signature it
• Upload the bio-data page of my passport + enter passport number
• Upload both a front and a back scan of my national ID card.
• Connect my mobile phone to their 2fa security
• Connect my Bank account with iban number / Swift etc.

So far, i've waited 3 days time for a response or approval. If anyone is considering verifiying a tether.to account then please be aware they wont accept screenshots etc of your documents, only files scanned are approved.

Im waiting for 10 days, no verificationn nothing hapening. I think the site is dead.
Where can is buy tether with Mastercard, Some other place  than tether.to please? Thx.

[European Central Bank]

Im waiting for 10 days, no verificationn nothing hapening. I think the site is dead.
Where can is buy tether with Mastercard, Some other place  than tether.to please? Thx.

it's designed to be bought with bitcoin, eth, and any other crypto pairing.

there is a usd/tether market on kraken. you won't be able to use a card.

[sobadsoccer]

I am currently 7 days submitted waiting for verification...nothing happening. 

I remember I set up a MtGox account in 2013 and did not get verified before that whole fiasco...luckily before I funded.  Hopefully this is not dejavu.

Ill come back and let you know when approved...  Tether if you are reading this...get on it!

[European Central Bank]

I am currently 7 days submitted waiting for verification...nothing happening. 

I remember I set up a MtGox account in 2013 and did not get verified before that whole fiasco...luckily before I funded.  Hopefully this is not dejavu.

Ill come back and let you know when approved...  Tether if you are reading this...get on it!

what's the point getting verified when you can't move money in or out? tether currently has no banking unless you're in taiwan, but they said they've moved money out so who knows where it is now?

[lisnic]

Waiting verification from 20.03.2017...  Today is 04.06.2017     
Writed some times to support:"Answer: Please wait..."

[MrPilot]

Waiting verification from 20.03.2017...  Today is 04.06.2017     
Writed some times to support:"Answer: Please wait..."

I also signed up but a bit more recently (approx. 2 weeks ago). For most of that time absolutely nothing has happened with regard to Tether's verification of my ID details. I was getting very concerned so withdrew my Tethers to Poloniex, swapped it for ETH or BTC then transferred that to CoinBase where I sold it for Euros so that I could transfer that to my UK bank. What a fiasco when you think about it, and charges all along the way.

Going back to Tether though; yesterday I noticed that Tether had *finally* updated the ID verification page. They haven't checked/approved it yet (no sections at all and there are several which took many hours to sort out and upload) but at least they've now given me a position in the queue. F.Y.I. it's in excess of number 1500. I also waited to see how many the number dropped by in the last 24 hours and the number is a disappointing 6! So, at that rate, I need to wait another 8+ months before they'll get to even look at my data. Hmm. Not a great system if you ask me but I guess they now have their dollars so probably have no great urgency to swap them back to Tether crypto tokens.

[qct222]

Waiting verification from 20.03.2017...  Today is 04.06.2017     
Writed some times to support:"Answer: Please wait..."

I also signed up but a bit more recently (approx. 2 weeks ago). For most of that time absolutely nothing has happened with regard to Tether's verification of my ID details. I was getting very concerned so withdrew my Tethers to Poloniex, swapped it for ETH or BTC then transferred that to CoinBase where I sold it for Euros so that I could transfer that to my UK bank. What a fiasco when you think about it, and charges all along the way.

Going back to Tether though; yesterday I noticed that Tether had *finally* updated the ID verification page. They haven't checked/approved it yet (no sections at all and there are several which took many hours to sort out and upload) but at least they've now given me a position in the queue. F.Y.I. it's in excess of number 1500. I also waited to see how many the number dropped by in the last 24 hours and the number is a disappointing 6! So, at that rate, I need to wait another 8+ months before they'll get to even look at my data. Hmm. Not a great system if you ask me but I guess they now have their dollars so probably have no great urgency to swap them back to Tether crypto tokens.

do you get approved? I have the same idea as you, I wanna exchange USD cash to USDT, and then move to Poloniex, buy BTC or ETH etc and withdraw to my country, sell them and  get money...

but the verification is so strict ,  I haven't uploaded it because I gonna apply for a CityBank card first.

[MrPilot]

Waiting verification from 20.03.2017...  Today is 04.06.2017     
Writed some times to support:"Answer: Please wait..."

I also signed up but a bit more recently (approx. 2 weeks ago). For most of that time absolutely nothing has happened with regard to Tether's verification of my ID details. I was getting very concerned so withdrew my Tethers to Poloniex, swapped it for ETH or BTC then transferred that to CoinBase where I sold it for Euros so that I could transfer that to my UK bank. What a fiasco when you think about it, and charges all along the way.

Going back to Tether though; yesterday I noticed that Tether had *finally* updated the ID verification page. They haven't checked/approved it yet (no sections at all and there are several which took many hours to sort out and upload) but at least they've now given me a position in the queue. F.Y.I. it's in excess of number 1500. I also waited to see how many the number dropped by in the last 24 hours and the number is a disappointing 6! So, at that rate, I need to wait another 8+ months before they'll get to even look at my data. Hmm. Not a great system if you ask me but I guess they now have their dollars so probably have no great urgency to swap them back to Tether crypto tokens.

do you get approved? I have the same idea as you, I wanna exchange USD cash to USDT, and then move to Poloniex, buy BTC or ETH etc and withdraw to my country, sell them and  get money...

but the verification is so strict ,  I haven't uploaded it because I gonna apply for a CityBank card first.

Not yet. After just shy of a week since by post above, using Tether's queue numbers this morning I worked out that they're doing only about 6 verifications per day as I had feared. So approval or even any kind of feedback looks like it'll take 8+ months as I said (my queue number is well over #1500). Disgraceful in my view. It also leaves me wondering why Poloniex would support such a thing if Tether cannot be used in the real world for the purpose intended (well, not without an 8 month wait and even that assumes the ID verification is accepted first time).

[qct222]

Waiting verification from 20.03.2017...  Today is 04.06.2017     
Writed some times to support:"Answer: Please wait..."

I also signed up but a bit more recently (approx. 2 weeks ago). For most of that time absolutely nothing has happened with regard to Tether's verification of my ID details. I was getting very concerned so withdrew my Tethers to Poloniex, swapped it for ETH or BTC then transferred that to CoinBase where I sold it for Euros so that I could transfer that to my UK bank. What a fiasco when you think about it, and charges all along the way.

Going back to Tether though; yesterday I noticed that Tether had *finally* updated the ID verification page. They haven't checked/approved it yet (no sections at all and there are several which took many hours to sort out and upload) but at least they've now given me a position in the queue. F.Y.I. it's in excess of number 1500. I also waited to see how many the number dropped by in the last 24 hours and the number is a disappointing 6! So, at that rate, I need to wait another 8+ months before they'll get to even look at my data. Hmm. Not a great system if you ask me but I guess they now have their dollars so probably have no great urgency to swap them back to Tether crypto tokens.

do you get approved? I have the same idea as you, I wanna exchange USD cash to USDT, and then move to Poloniex, buy BTC or ETH etc and withdraw to my country, sell them and  get money...

but the verification is so strict ,  I haven't uploaded it because I gonna apply for a CityBank card first.

Not yet. After just shy of a week since by post above, using Tether's queue numbers this morning I worked out that they're doing only about 6 verifications per day as I had feared. So approval or even any kind of feedback looks like it'll take 8+ months as I said (my queue number is well over #1500). Disgraceful in my view. It also leaves me wondering why Poloniex would support such a thing if Tether cannot be used in the real world for the purpose intended (well, not without an 8 month wait and even that assumes the ID verification is accepted first time).

wow, since it'll take so much time, seems like mission impossible, is there any other way to exchange USD cash to USDT or btc(same price as Poloniex or Bittrex) ?

[MrPilot]

Waiting verification from 20.03.2017...  Today is 04.06.2017    
Writed some times to support:"Answer: Please wait..."

I also signed up but a bit more recently (approx. 2 weeks ago). For most of that time absolutely nothing has happened with regard to Tether's verification of my ID details. I was getting very concerned so withdrew my Tethers to Poloniex, swapped it for ETH or BTC then transferred that to CoinBase where I sold it for Euros so that I could transfer that to my UK bank. What a fiasco when you think about it, and charges all along the way.

Going back to Tether though; yesterday I noticed that Tether had *finally* updated the ID verification page. They haven't checked/approved it yet (no sections at all and there are several which took many hours to sort out and upload) but at least they've now given me a position in the queue. F.Y.I. it's in excess of number 1500. I also waited to see how many the number dropped by in the last 24 hours and the number is a disappointing 6! So, at that rate, I need to wait another 8+ months before they'll get to even look at my data. Hmm. Not a great system if you ask me but I guess they now have their dollars so probably have no great urgency to swap them back to Tether crypto tokens.

do you get approved? I have the same idea as you, I wanna exchange USD cash to USDT, and then move to Poloniex, buy BTC or ETH etc and withdraw to my country, sell them and  get money...

but the verification is so strict ,  I haven't uploaded it because I gonna apply for a CityBank card first.

Not yet. After just shy of a week since by post above, using Tether's queue numbers this morning I worked out that they're doing only about 6 verifications per day as I had feared. So approval or even any kind of feedback looks like it'll take 8+ months as I said (my queue number is well over #1500). Disgraceful in my view. It also leaves me wondering why Poloniex would support such a thing if Tether cannot be used in the real world for the purpose intended (well, not without an 8 month wait and even that assumes the ID verification is accepted first time).

wow, since it'll take so much time, seems like mission impossible, is there any other way to exchange USD cash to USDT or btc(same price as Poloniex or Bittrex) ?

If I understand your question correctly, you're asking how to get in and out of fiat currency to/from crypto currency. The most reliable way I have so far found is to use CoinBase (which I have found to be very good other than a few outages in very busy trading times). So, in a nutshell, you can have any number of different crypto coins (including USDT) at, say, Poloniex, but then transfer them to CoinBase to cash them in (see below for more detail).

Buying crypto using fiat

So, for example, I use CoinBase to buy into LTC, BTC or ETH using fiat (Euros specifically, for me [UK based] as support for GBP is patchy at time of writing although they say they're trying to fix the GBP gateway). They also take dollars as far as I'm aware - but I haven't tried them.

Selling crypto to get back to fiat

I had most of my crypto coins at Poloniex, simply because they handle way more than just LTC, BTC and ETH .... MAID for example ... and Tether if you want to 'ring-fence' (ish) a given crypto value at any point.
However, now that Tether has proved unusable at least for getting back to fiat currencies, when I want to 'cash out' back to fiat, I simply swap whichever coin I want to cash in for ETH, LTC or BTC so that I can send those to my CoinBase account. Once there I can swap the ETH, LTC or BTC back to Euros (or, if I wanted, USD or GBP) very quickly and easily and then send to my SEPA bank account (needs to be SEPA in my case to handle Euros, although they arrive back in my UK account as GBP). It's actually pretty slick and the only thing you have to be careful with, other than getting your wallet addresses spot on, is timing. To clarify, I tend to try to do the swap-out when the price of LTC, BTC or ETH is rising because then, after the wait for the transactions to go through, hopefully I will have gained a bit rather than lost a bit in the ensuing wait. If nothing else, that will offset some or all of the bank/transaction/coin swap fees. For speed, therefore (if there is not a defined upward trend in coin value at time of transactions) it makes more sense to use ETH or LTC as they will be quicker to be confirmed by the blockchains and then any volatility is likely to be less of an impact.

I'm not sure if an affiliate link is allowed here (apologies if not - I'm sure the mods will let me know if not and then one or other of us will remove it) but my CoinBase affiliate link is https://www.coinbase.com/join/5773a4ddd677dc15730007b7 and here's the reason I'm including it other than the obvious: if fiat is used to buy - or possibly sell - at least I think $100 worth of a crypto coin at CoinBase through such a link, then both the newly signed up person and myself will each receive $10 worth of BTC for signing up through that link (so it's a win-win).

Coinbase take bank transfers AND cards, by the way, for buying coins using fiat currency. While their fees are not particularly cheap, I have found their rates when selling back to fiat very fair (unlike the UK banks' fees by the way - they seem rather hefty but it is what it is and C/Base do make it easy!).

Localbitcoins is, I suspect, another way of going to/from fiat but I've never used them.

I hope this helps and, again, let me know if that affiliate link breaks a rule and I'll amend as needed.

[IamHigh]

Waiting verification from 20.03.2017...  Today is 04.06.2017    
Writed some times to support:"Answer: Please wait..."

You waited almost 2.5 months. And you will probably wait much more than this. Because tether has serious problems in united states with banks. The subject was sent to the american courts already.

[jk_14]

Could someone brief me on the USDT please?

So far I've just (blindly) assumed that it was another coin that could be traded on exchanges any time with a more or less fixed value of 1 USD/USDT. I was going to make use of this during bear markets, but if that's not even possible without verifying ID then I might just as well sell the BTC for real cash instead? Did I miss anything or are these tokens useless based on this scenario?
If so, what purpose, if any, do these USDT have other than providing fees to the creators?

[MrPilot]

Could someone brief me on the USDT please?

So far I've just (blindly) assumed that it was another coin that could be traded on exchanges any time with a more or less fixed value of 1 USD/USDT. I was going to make use of this during bear markets, but if that's not even possible without verifying ID then I might just as well sell the BTC for real cash instead? Did I miss anything or are these tokens useless based on this scenario?
If so, what purpose, if any, do these USDT have other than providing fees to the creators?

Well, if you're talking about doing that via the Tether site itself then it would be difficult given the current backlog of ID verifications (it looks like I'll be waiting months for my ID to be looked at, let alone accepted). However, if you are wanting to do it via somewhere like Poloniex, then that's feasible as things stand and, in fact, I do it all the time. So if I ever want to 'pin' the value of a crypto coin, I can 'cash out' (to all intents and purposes) to USDT at Polo, knowing that the value will be pretty much locked down to a given Dollar value (small fluctuations in the value of USDT aside) then buy back into ETH or BTC or MAID or whatever when I'm more confident of the direction of travel of those coin values. It does all, however, assume USDT is "going nowhere" (i.e. folding) any time soon. Here's hoping as it's a very useful tool for the kind of 'hedge' I describe above.

[jk_14]

Could someone brief me on the USDT please?

So far I've just (blindly) assumed that it was another coin that could be traded on exchanges any time with a more or less fixed value of 1 USD/USDT. I was going to make use of this during bear markets, but if that's not even possible without verifying ID then I might just as well sell the BTC for real cash instead? Did I miss anything or are these tokens useless based on this scenario?
If so, what purpose, if any, do these USDT have other than providing fees to the creators?

Well, if you're talking about doing that via the Tether site itself then it would be difficult given the current backlog of ID verifications (it looks like I'll be waiting months for my ID to be looked at, let alone accepted). However, if you are wanting to do it via somewhere like Poloniex, then that's feasible as things stand and, in fact, I do it all the time. So if I ever want to 'pin' the value of a crypto coin, I can 'cash out' (to all intents and purposes) to USDT at Polo, knowing that the value will be pretty much locked down to a given Dollar value (small fluctuations in the value of USDT aside) then buy back into ETH or BTC or MAID or whatever when I'm more confident of the direction of travel of those coin values. It does all, however, assume USDT is "going nowhere" (i.e. folding) any time soon. Here's hoping as it's a very useful tool for the kind of 'hedge' I describe above.

I definitely see the value as a hedge and would love to use it myself, but I'm a bit concerned/worried that it would just disappear or become too illiquid at a bad time.
Thanks for the info regarding the backlog by the way, as well as clarifying that I don't really have to use their site to use the USDT.

[apple_talk]

So far they only processed 2-3 applications in last 2 weeks. with 1500 in queue.

So based on this either they are fraud or don't care.
Calculating above takes one week to process per application, It would require over 28 yrs... maybe you unborn kids will be able to use TETHER.

[European Central Bank]

So far they only processed 2-3 applications in last 2 weeks. with 1500 in queue.

So based on this either they are fraud or don't care.
Calculating above takes one week to process per application, It would require over 28 yrs... maybe you unborn kids will be able to use TETHER.

holy moly there's enough red flags already. i can't believe anyone's willingly choosing to run towards it.

the only people they might be processing for would be whales with taiwanese banking but maybe they're not even bothering with that.

[ulhaq]

I'm surprised someone else doesn't make a clone - $319 million in market cap for USDT - all time high, despite all the concerns.

[Kevindb87]

Tether converts cash into digital currency, to anchor or tether the value to the price of national currencies like the US dollar, the Euro, and the Yen. Tether’s blockchain-enabled technology delivers world-class security while meeting international compliance standards and regulations.

[apista]

No idea wtf is going on there. Currently being number 3805 in the queue and started the process roughly a week ago.

[geo500]

I'm currently at 2801 in the queue and it seems to be moving at ~15 per day.

[romani245]

I'm currently at 2801 in the queue and it seems to be moving at ~15 per day.

Why are you bothering to verify with them? Bitfinex (and therefore Tether) hasn't been able to wire out USD in many months. Not since late March of this year. So verifying now is just giving up your documents to some unknown/unreputable company in Hong Kong -- and they can't even get your money to you.

I would only use Tether to move money from exchange to exchange. I would only hold it for the short term. It's more dangerous than simply keeping funds on an exchange: you are not only exposed to the third party risk of that exchange, but also to that of Bitfinex/Tether.

[Moxleytgf]

Three days later it arrived. It was an error on their end. This whole experience has been one big red flag. They are only responsive via email mon-fri.
Please accept our apologies for the delay, the deposit has been credited to your account.
We utilize an independent scanning solution to notify us of new transactions to user accounts. It appears the notification for this transaction did not come through properly and caused the transaction to get stuck in a processing state.
We fully understand the trouble this may cause you and we hope you accept our sincere apologies for the delay.

[tobi4255]

Three days later it arrived. It was an error on their end. This whole experience has been one big red flag. They are only responsive via email mon-fri.
Please accept our apologies for the delay, the deposit has been credited to your account.
We utilize an independent scanning solution to notify us of new transactions to user accounts. It appears the notification for this transaction did not come through properly and caused the transaction to get stuck in a processing state.
We fully understand the trouble this may cause you and we hope you accept our sincere apologies for the delay.

Are you affiliated with tether.to ? You make it sound like it...

I have been "in review" for several months and i am starting to get a bit frustrated...

Does you, or anyone, have any updates on the situation? As far as i can understand, even if i am approved succesfully, the features are limited at the moment due to some banking issues?

Appreciate any updates on the situation. I love the idea/concept of a fiat-pegged crypto easily convertable and movable.

[MrPilot]

Waiting verification from 20.03.2017...  Today is 04.06.2017    
Writed some times to support:"Answer: Please wait..."

I also signed up but a bit more recently (approx. 2 weeks ago). For most of that time absolutely nothing has happened with regard to Tether's verification of my ID details. I was getting very concerned so withdrew my Tethers to Poloniex, swapped it for ETH or BTC then transferred that to CoinBase where I sold it for Euros so that I could transfer that to my UK bank. What a fiasco when you think about it, and charges all along the way.

Going back to Tether though; yesterday I noticed that Tether had *finally* updated the ID verification page. They haven't checked/approved it yet (no sections at all and there are several which took many hours to sort out and upload) but at least they've now given me a position in the queue. F.Y.I. it's in excess of number 1500. I also waited to see how many the number dropped by in the last 24 hours and the number is a disappointing 6! So, at that rate, I need to wait another 8+ months before they'll get to even look at my data. Hmm. Not a great system if you ask me but I guess they now have their dollars so probably have no great urgency to swap them back to Tether crypto tokens.

do you get approved? I have the same idea as you, I wanna exchange USD cash to USDT, and then move to Poloniex, buy BTC or ETH etc and withdraw to my country, sell them and  get money...

but the verification is so strict ,  I haven't uploaded it because I gonna apply for a CityBank card first.

Not yet. After just shy of a week since by post above, using Tether's queue numbers this morning I worked out that they're doing only about 6 verifications per day as I had feared. So approval or even any kind of feedback looks like it'll take 8+ months as I said (my queue number is well over #1500). Disgraceful in my view. It also leaves me wondering why Poloniex would support such a thing if Tether cannot be used in the real world for the purpose intended (well, not without an 8 month wait and even that assumes the ID verification is accepted first time).

wow, since it'll take so much time, seems like mission impossible, is there any other way to exchange USD cash to USDT or btc(same price as Poloniex or Bittrex) ?

If I understand your question correctly, you're asking how to get in and out of fiat currency to/from crypto currency. The most reliable way I have so far found is to use CoinBase (which I have found to be very good other than a few outages in very busy trading times). So, in a nutshell, you can have any number of different crypto coins (including USDT) at, say, Poloniex, but then transfer them to CoinBase to cash them in (see below for more detail).

Buying crypto using fiat

So, for example, I use CoinBase to buy into LTC, BTC or ETH using fiat (Euros specifically, for me [UK based] as support for GBP is patchy at time of writing although they say they're trying to fix the GBP gateway). They also take dollars as far as I'm aware - but I haven't tried them.

Selling crypto to get back to fiat

I had most of my crypto coins at Poloniex, simply because they handle way more than just LTC, BTC and ETH .... MAID for example ... and Tether if you want to 'ring-fence' (ish) a given crypto value at any point.
However, now that Tether has proved unusable at least for getting back to fiat currencies, when I want to 'cash out' back to fiat, I simply swap whichever coin I want to cash in for ETH, LTC or BTC so that I can send those to my CoinBase account. Once there I can swap the ETH, LTC or BTC back to Euros (or, if I wanted, USD or GBP) very quickly and easily and then send to my SEPA bank account (needs to be SEPA in my case to handle Euros, although they arrive back in my UK account as GBP). It's actually pretty slick and the only thing you have to be careful with, other than getting your wallet addresses spot on, is timing. To clarify, I tend to try to do the swap-out when the price of LTC, BTC or ETH is rising because then, after the wait for the transactions to go through, hopefully I will have gained a bit rather than lost a bit in the ensuing wait. If nothing else, that will offset some or all of the bank/transaction/coin swap fees. For speed, therefore (if there is not a defined upward trend in coin value at time of transactions) it makes more sense to use ETH or LTC as they will be quicker to be confirmed by the blockchains and then any volatility is likely to be less of an impact.

I'm not sure if an affiliate link is allowed here (apologies if not - I'm sure the mods will let me know if not and then one or other of us will remove it) but my CoinBase affiliate link is https://www.coinbase.com/join/5773a4ddd677dc15730007b7 and here's the reason I'm including it other than the obvious: if fiat is used to buy - or possibly sell - at least I think $100 worth of a crypto coin at CoinBase through such a link, then both the newly signed up person and myself will each receive $10 worth of BTC for signing up through that link (so it's a win-win).

Coinbase take bank transfers AND cards, by the way, for buying coins using fiat currency. While their fees are not particularly cheap, I have found their rates when selling back to fiat very fair (unlike the UK banks' fees by the way - they seem rather hefty but it is what it is and C/Base do make it easy!).

Localbitcoins is, I suspect, another way of going to/from fiat but I've never used them.

I hope this helps and, again, let me know if that affiliate link breaks a rule and I'll amend as needed.

OK I have an update about my experience with tether.to and accounts there:

Firstly, the good (and, given the above, surprising) news — out of the blue my account was verified in the last fortnight. The entire process took about ~5 months rather than the longer wait that I had anticipated given the apparent slow progress of accounts clearing each day. So, on the face of it this was great news and also my account was simply verified with no iffs and buts (no need to re-upload this document or that etc.). So, I assumed I was good to go and would now be able to log into my Tether account and cash out any tether tokens direct to my bank account (which was linked up as part of the original verification and KYC set-up). I logged into my account and yes, it also said I was now verified there.

Now the bad news - in the withdrawal area there was a new message:
"Withdrawals are currently restricted. Due to regulatory and banking limitations, withdrawals are restricted to verified corporate customers requesting 50k or more which are not in a restricted location. If you believe you can meet these requirements email support@tether.to with your request information/details."

WTF!?

By the way, I'm in a European country (sorry to be vague but clearly Tether people are patrolling this thread) and I don't recall my country being a restricted zone.

To be honest, I now bitterly regret uploading all my ID, banking details, proof of residency etc. Who knows who now has access to that in Hong Kong or elsewhere.

I will update again if anything else occurs.

[European Central Bank]

I will update again if anything else occurs.

the 50k thing is a well known requirement. are you anywhere near that? if not then there's no action for you.

i'd love to know of anyone who isn't one of their 'institutional investors' who did manage to withdraw 50k. i've never heard of one yet.