Buying USDT during crypto dips.your thoughts.

[Tactical Genius]

During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?

[FrueGreads]

During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?

Well that's the hole point on buying tether, since it's suppose to act as a a virtual dollar. Of course that since it's not an actual dollar, it can lose value or even be shutdown, since it's centralized. I think that if you can have access to an exchange that actually pairs bitcoin to fiat, you should opt for this instead, as you would be much safer this way. It's still an exchange, and we are seeing some banks temporary closing exchanges accounts, but I would still prefer it to tether. There are also some coins that are outperforming bitcoin right now, so you could also try to accumulate more bitcoin by trading those pairs.

[HorribleGuy01]

During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?

Tether is supposed to be an escape rope when the market are crashing, its a better way of safe keeping your money rather than converting it all the Fiat currency when the market are all red.

[squatz1]

I mean buying tether really matters based on what exchange your own, as I personally am on GDAX so I can just simply sell my bitcoin get USD (insured by the FDIC if it is to be lost) and then go about trading again if I want to. I don't know why people trust tether and bitfinex, but all of that is beyond me as I am able to avoid it without bothering me.

I'd try to buy it right before the dip though, you could maybe make 4 percent as was seen the other day when it went up to 1.04 -- though if you were to buy at that and then sell at 1.00 it could be a bit annoying, though I guess better then the market taking a shit.

[JesusCryptos]

Recently there have been some talks which have been raised questioning if we are really sure that all Theter is really backed by dollars... so I sense some possible danger there too, if it ever would come out that it isn't.

[Alvaro094]

During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?

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[Jorosss]

During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?

Yes, its a better move. You need a perfect timing in selling your coins to usdt to make a good move. And putting all of your coins into tether or usdt will put your trading into neutral since there are no big price movement in tether. Best way to keep your funds at safe in rough times.

[cryptothief]

I detest the whole concept of USDT. I am sure if it did not exist, then the market would not experience the extreme drops it has over the past few months. People throw their belief in cryptocurrency out the window when they have an easy option. I honestly believe that if the option was not there, then the market would not have dropped to the extent it has. What to do, it does exist, but I hate it. Used it once a few months ago and have refused to use it since, win or lose. You're either in or out. I'm in.

[cellard]

During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?

Well that's the hole point on buying tether, since it's suppose to act as a a virtual dollar. Of course that since it's not an actual dollar, it can lose value or even be shutdown, since it's centralized. I think that if you can have access to an exchange that actually pairs bitcoin to fiat, you should opt for this instead, as you would be much safer this way. It's still an exchange, and we are seeing some banks temporary closing exchanges accounts, but I would still prefer it to tether. There are also some coins that are outperforming bitcoin right now, so you could also try to accumulate more bitcoin by trading those pairs.

If you want to go on USD temporarily, you might as well use USDT to bypass all the bureaucracy of going back and fort into fiat, this was the original point of USDT.

The problem: The exchange with the best volume for USDT is Poloniex. Poloniex used to me freedom friendly back in the day, nowadays it's another hellhole of verification. I believe you can't no longer use Poloniex without verification, even to trade between alts, just like Bittrex. So you can't no longer use USDT as an anonymous way to go in and out of crypto in a token that's stable. I don't know if there are more exchanges that are anonymous with USDT, but I wouldn't expect good volumes there. USDT also has an inherent risk of blowing up at any second, just like any token pegged to a fiat currency.

[Sinecoin]

The whole point of USDT is to mimic the us dollar so what your doing is almost the same as cashing out or moving toward fiat.  USDT is the solution exchanges provided for people to move money into fiat without having the exchange having to deal with all the regulations that come with USD.

[Vit83]

cashing out now is very strange everything on low levels. Why now. Now IMHO is buy time to buy crypto. Carefully, patient but buy time is coming. 

[pissyas]

During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?

I believe that USDT is surely the number one choice for all of us when trading as well as avoiding hurricanes whenever the market is in crisis. We can completely switch to USDT to preserve our capital and wait for the market to recover and start trading again, buying other USDT codes. USDT is worth about $ 1 and is not affected much from the market, so the change to USDT will be very safe for you.

[sachdientugoogle]

Tether is quite possibly an artificial and unbacked crypto which has been used to boost the entire market cap. If you think 2 billion dollars of Tether can’t affect the overall market cap, look into the fundamentals. It’s major. Tether is a primary trading pair on nearly every exchange. A significant portion of the volume of all crypto could be fake!! This isn’t FUD this is necessary scrutiny. I’m bullish long term but this is something to be aware of.

[Pursuer]

it is a good strategy and a terrible one at the same time.
it is a good strategy because during drops you should get out and out to a safe place which is a more stable asset, which in this case can be a currency (fiat). but you are choosing a "fiat-like" altcoin not fiat itself. you are using USDT instead of USD, and that makes it a terrible strategy. tether is one of the shadiest altcoins out there, it is centralized and it can fail at any moment if the company behind it fails or decides to scam people out of billions of dollars.

in short I suggest to do anything else if you can, preferable going back directly to fiat (USD) if possible and use tether as the last option after you tried everything and couldn't find another way.

[GelsoAM]

I think that's a good idea and iv'e been doing that alot because btc goes up and down and i want to get alot from that opportunity so i actually usually do that.

[BitcoinHodler]

we can not deny that tether has many benefits for traders. for example the fact that it has been worth $1 fixed for more than 90% of its lifetime is a good feature, also it can be transfered with a very small fee compared to fiat transfers. so it is a convenient way for traders to escape to fiat. and it can be used in many trading strategies.

but we should not end up thinking it is the same as fiat. because it is not and we should not forget the risks that this coin has. it is always easy to forget that tether is centralized and that poses a serious risk! not to mention that they are not even guaranteeing anything for their users.

[Bezobraznike]

we can not deny that tether has many benefits for traders. for example the fact that it has been worth $1 fixed for more than 90% of its lifetime is a good feature, also it can be transfered with a very small fee compared to fiat transfers. so it is a convenient way for traders to escape to fiat. and it can be used in many trading strategies.

but we should not end up thinking it is the same as fiat. because it is not and we should not forget the risks that this coin has. it is always easy to forget that tether is centralized and that poses a serious risk! not to mention that they are not even guaranteeing anything for their users.

   Benefits come form staying in the crypto-currencies. You do not need to sell for dollars
and fall under U.S. law, you buy tether and you are fine. Headline is misleading, you should
buy tether before the dip, that's how you are safe, buying in dip is missed investment. Wrong
thing to do is selling in the dips, you sell on tops, in dips you buy.
   If you read headline and do what creator of this thread suggest you to do you will lose money
with trading all the time. I am not a trader and I know that just from reading here about it. It is
perfectly logical if yoy give it a thought. But I presume it is easier to spam then to make some
effort and actually learn something. People wish easy money, but that usually leads in disaster.

[OriginTrain]

I've always felt weary putting money into USDT during a downtrend since a downtrend is the exact time that USDT is most likely to blow up: aka "a bank run" causing the house of cards that it is to fall. So personally, I don't recommend it until Bittrex takes its legitimacy and transparency far, far more seriously. I'm still waiting for a genuine gold-backed token to to be used as a store of value. Perhaps this year there will be a decent one.

[jerry0]

Isn't this very profitable if you have btc and notice it keeps dropping down?  Example you got btc at 10k.  It goes up to 13k but then starts dipping to like 10500.  You feel it would dip even more.  You immediately sell it for usdt and get around 10500 so you profit 500.  Now it dips more and more to 8k.  Now you buy back over 1 btc etc.  Now say it goes to 10k again.  You immediately sell everything for usdt.  Let say you gained around 2500 total on this where your usdt balance is now 12500.  Btc is now around 10k or so.  So if you held the entire time, you would have made nothing, thought of course if you dont sell it nothing happens.  But the person that sells it and then buys back etc few time, here they made 2500 worth of profit as they could now immediately sell the 12500 usdt for btc and then immediately sell the 12500 worth of btc to coinbase/gemini or exchange and get real usd to bank account and now profit around 2500 minus fees right?


Because if a coin keeps dipping and going back up, there seem to be good amount of short term profit to be made.  Thus the more volatile it is, the better for the trader.  Thus isn't making sure you have enough usdt for dips like this very important?  Because if you keep everything in btc, and wait for dips, well that doesn't make sense because if you want to buy dips of altcoins, well your btc price will be dipping hard as well but not as bad as altcoins.  Thus with usdt, you want prices to dip hard when you are a trader right? 


Also are ppl really concerned about usdt?  Are there ppl/traders that have like mid 4 figures or 5 figures of usdt where its used to buy at dips?  And do those ppl feel concerned about usdt?  Because ppl say its not real usd but even if thats the case, wouldnt it be really hard for usdt to be zero or nothing?  Because surely tons of ppl have money in usdt especially traders right who trade altcoins?  Now if you trade btc, eth, litecoin and those other coins that could be paired with usd, well they dont have to worry about it.  But to trade altcoins, you need btc/usdt.  But you also dont want to hold btc if everything is dropping at the moment etc.  Thoughts?

[Stavri]

i dont trust to tether so much. like tether is an altcoin and there is no guarantee that tether will be 1 usd in the future. i would prefer to just cash out instead of exchanging tether. it is much more safe (if it iş avaible in your country) and whenever needed i can cash in again. banks are safer than tether.