USDT vs USD

[felixyz]

On many exchanges we can find option to exchange BTc on 2 pairs BTC/USDT or BTC/USD. Is there any rules/differences between them (despite volume)?

[Rannasha]

USDT is a crypto-token issued by a company that advertises with a 1:1 peg to the Dollar, but has no means to make good on this (they lack usable banking partners just like Bitfinex) and they explicitly reject any guarantees in their terms of service.

USDT is reasonably stable around $1, so it can be used as a temporary way to get out of crypto or to transfer funds between exchanges, but don't rely on it keeping its value.

[felixyz]

I see - but does it mean that trading is different - do we have to go through another verufication to trade usd/btc?

[Xavofat]

I see - but does it mean that trading is different - do we have to go through another verufication to trade usd/btc?

Withdrawing dollars tends to require a lot of verification.  Holding them in an exchange is a different matter, if you intend to end up with Bitcoin in the end.

Trading USDT just requires going on an altcoin exchange like Bittrex, and withdrawing them to a USDT wallet.

The difference is that you can sovereignty over the funds like you do with cryptocurrencies, without going through the verification process of real fiat.

However, I wouldn't trust USDT because the price fluctuates a lot more than you would imagine.

[felixyz]

I see - but does it mean that trading is different - do we have to go through another verufication to trade usd/btc?

Withdrawing dollars tends to require a lot of verification.  Holding them in an exchange is a different matter, if you intend to end up with Bitcoin in the end.

Trading USDT just requires going on an altcoin exchange like Bittrex, and withdrawing them to a USDT wallet.

The difference is that you can sovereignty over the funds like you do with cryptocurrencies, without going through the verification process of real fiat.

However, I wouldn't trust USDT because the price fluctuates a lot more than you would imagine.

So depositing btc, turning to usd and back to btc with witdrawal does not require any verification? Only some limit like 2000$ on poloniex?

[Red_Sanford]

USDT is backed by nothing.
USD is backed by the full faith in the US government (lol as if that means anything).
BIT-USD which is traded on openledger is backed by at least 1$ of bitshares. You can always buy atleast 1$ of BTS with BIT-USD. Meaning it is always worth a minimum of 1$ sometimes 1.05$ . This is considered a smart coin and is your safest bet. There are other examples of BIT-xxx like BIT-CNY which is traded on openledger and bittrex. There is massive amounts of volume related to BIT-CNY. Check it out, it is very interesting

[que91]

On many exchanges we can find option to exchange BTc on 2 pairs BTC/USDT or BTC/USD. Is there any rules/differences between them (despite volume)?

Not much difference, USDT just a cryptocurrency have value follow USD and it very stable (best choice and safest when have breakout market). Many trader use USDT as USD for keep their profit before the market fall down and it can help buying crypto fast than use FIAT

[felixyz]

On many exchanges we can find option to exchange BTc on 2 pairs BTC/USDT or BTC/USD. Is there any rules/differences between them (despite volume)?

Not much difference, USDT just a cryptocurrency have value follow USD and it very stable (best choice and safest when have breakout market). Many trader use USDT as USD for keep their profit before the market fall down and it can help buying crypto fast than use FIAT

I can imagine it's impossible to say what can happen when btc would crash badly. So I am more interested whether those exchanges offering USD/BTC trading pair have any limits different from those ofering tether?

[enixon291077]

New Trading Pair HAV/USDT Is Available on KuCoin

https://news.kucoin.com/en/new-trading-pair-hav-usdt-is-available-on-kucoin/

[zhaviabieber405]

one is backed by a multi trillion $ economy and the other is backed by nothing.

[ankurguta87]

USD are dollars that are held directly in a bank account. USDT are coins that issued by Tether which some exchanges will accept,
but the money doesn’t go into the exchange’s bank account and to the exchange, it’s just another coin.

Some exchanges prefer USDT. Because it’s not “real cash” you can send it from point A to point B without hitting money transmission laws.

[BountyLord]

The difference is that withdrawing USDT is much easier than USD. USDT is not real money and, accordingly, many of the requirements of the law do not apply to them.

[Harriti]

USD and USDT are totally different ). USD is really currency while USDT is cryptocurrency which you only can use on cryptocurrency exchange while you can use USD anywhere and anywhen . Beside you need to have USDT wallet if you want to withdraw USDT from your exchange account while you need to have bank account if you want to withdraw USD from cryptocurrency exchange. Beside there are a lot of investors and traders are fighting against USDT cause they think that it's a scam cryptocurrency.

[olenka.1988]

I would have moved everyone to an outcome than to the etherium at the training facilities