Is USDT Tether safe?

[bussybuddy]

But lately I'm also very familiar with FUDs, we have seen FUDs from governments in countries that have not yet supported crypto, and now to FUD usdt. Perhaps we are about to enter a new phase as these FUDs drop.

I personally still think it's completely safe, but if you're skeptical, you can have a lot of options with other stable coins.

[1714724019]

1714724019

[1714724019]

1714724019

[MarjorieZimmermanGinger]

Today, the tether continues to print 250 million tether, raising the tether's market capitalization to more than $ 2.7 billion to reach the top 10 coinmarketcap. People say that every time a tether is printed, the bitcoin price increases because the tether pumped USDT onto the floor to push the bitcoin price. What do you think about this and keep the USDT safe?

This means that tether has an attachment to bitcoin, if you analyze what you have said, this pattern has been carefully prepared by bitcoin, which in order to maintain the existence of bitcoin, it is necessary to prepare the right rare and this is in line with what is happening in the crypto world today. My question is does USDT have a big influence in pumping bitcoin itself?

If not, then USDT must use other patterns to maintain its existence now and in the future, given the increasingly fierce competition to maintain it, people will also see the level of risk when they want to use its services in investing, the level of security is very influential for the people who use its services.

[OZmaster]

Since they never had a real audit i do not think it is safe and would stay clear from it as much as possible.

Is there an institution that deserves to audit tether.to? I don't know if any institution has the right to audit a crypto project. By the way, even a project is audited, I am not sure the team will publish the detail to the public. You must contact the team privately if you are really curious about the audit. FYI, for me, as long as it is one of the top crypto coins, it will be quite safe although no audit announcement on the site.

That is a big problem in my opinion. A product like Tether and the company behind it should be obliged to frequently provide a full audit report about the reserves that are supposed to back USDT 1 to 1. We are not talking about a stable currency that is handling a few million USD volume per day. We are talking about a massive product/market that could cause enormous harm to the whole industry if something goes wrong or if mistrust arises. I have no idea whether there is really a dollar for every single Tether.

[vabchgent]

Since they never had a real audit i do not think it is safe and would stay clear from it as much as possible.

Is there an institution that deserves to audit tether.to? I don't know if any institution has the right to audit a crypto project. By the way, even a project is audited, I am not sure the team will publish the detail to the public. You must contact the team privately if you are really curious about the audit. FYI, for me, as long as it is one of the top crypto coins, it will be quite safe although no audit announcement on the site.

That is a big problem in my opinion. A product like Tether and the company behind it should be obliged to frequently provide a full audit report about the reserves that are supposed to back USDT 1 to 1. We are not talking about a stable currency that is handling a few million USD volume per day. We are talking about a massive product/market that could cause enormous harm to the whole industry if something goes wrong or if mistrust arises. I have no idea whether there is really a dollar for every single Tether.

As the author in this article says, it remains murky.

"https://www.coindesk.com/tether-first-reserve-composition-report-usdt"

They are indeed not obligated to provide a full report. Tether now presented a report but that is nothing really official. It is not an independent audit firm. Very suspicious and the other stable coins, even that one from Gemini, doesn't provide reports at all. That surprises me given how much authorities would love to crack down on cryptocurrencies.

[Qirtov]

The controversy over USDT in 2018 and 2019 may have caught the attention of many cryptocurrency users. This certainly makes most people worried and afraid that USDT is not safe. If you plan to keep USDT/EURT for the long term, choose a safer option by storing Tether locally in an official digital wallet (e-wallet).
There are currently no Tether hardware wallets available, but starting in late 2017, AsicVault hardware wallets became available which have support for the USDT cryptocurrency. The official Tether wallet can be used via the browser at wallet.tether.to/app/, but there is also a Tether app for iOS and Android available in the app store.

[nimogsm]

as proof I have had USDT since 2019 and until now there are still around $175 and safe there is no loss that I get so far. I think USDT is the safest coin for storage than other types of coins

But for a long time it is worth keeping other steblcoins, it will be safer in all aspects. I believe that usdt will be fine for a long time, but risks are always and everywhere.

[gustavroy]

Tether is a brand located in some off Shore island. When you are buying tether you are trusting the company behind it. I would like you to suggest to use decentralised stable coins like DAI, sUSD

[efreeti]

The controversy over USDT in 2018 and 2019 may have caught the attention of many cryptocurrency users. This certainly makes most people worried and afraid that USDT is not safe. If you plan to keep USDT/EURT for the long term, choose a safer option by storing Tether locally in an official digital wallet (e-wallet).
There are currently no Tether hardware wallets available, but starting in late 2017, AsicVault hardware wallets became available which have support for the USDT cryptocurrency. The official Tether wallet can be used via the browser at wallet.tether.to/app/, but there is also a Tether app for iOS and Android available in the app store.

I think the problem isn't so much that people don't know how and where to store your Tether, but rather whether Tether the currency will hold its promises and always pay back one dollar for each Tether. That is the major risk. If Tether collapses, billions of dollars will collapse along with it within a blink of an eye. I guess that is what people are concerned about. So far it has been holding its peg strong.

[vabchgent]

The controversy over USDT in 2018 and 2019 may have caught the attention of many cryptocurrency users. This certainly makes most people worried and afraid that USDT is not safe. If you plan to keep USDT/EURT for the long term, choose a safer option by storing Tether locally in an official digital wallet (e-wallet).
There are currently no Tether hardware wallets available, but starting in late 2017, AsicVault hardware wallets became available which have support for the USDT cryptocurrency. The official Tether wallet can be used via the browser at wallet.tether.to/app/, but there is also a Tether app for iOS and Android available in the app store.

I think the problem isn't so much that people don't know how and where to store your Tether, but rather whether Tether the currency will hold its promises and always pay back one dollar for each Tether. That is the major risk. If Tether collapses, billions of dollars will collapse along with it within a blink of an eye. I guess that is what people are concerned about. So far it has been holding its peg strong.

Yes that is why I shared the article above. It is indeed impossible to know whether these stable coin providers hold the reserves they claim to hold. What if something like a bank run happens and everyone out of a sudden wants to exchange their Tether for USD? Will they be able to meet the demand? Or maybe did they use the dollars to speculate on the market themselves? If Tether collapses, crypto will go into a new crypto winter.

[nurilham]

A product like Tether and the company behind it should be obliged to frequently provide a full audit report about the reserves that are supposed to back USDT 1 to 1.

It should be, but who can force them to give the audit report fully and regularly?
Not sure if it is possible. Maybe an institution like SEC can ask for the audit reports, but this can make a new problem. If it happens, crypto company seems not decentralized anymore. It will be a disaster if crypto companies can be intervened by an institutinon.

[efreeti]

The controversy over USDT in 2018 and 2019 may have caught the attention of many cryptocurrency users. This certainly makes most people worried and afraid that USDT is not safe. If you plan to keep USDT/EURT for the long term, choose a safer option by storing Tether locally in an official digital wallet (e-wallet).
There are currently no Tether hardware wallets available, but starting in late 2017, AsicVault hardware wallets became available which have support for the USDT cryptocurrency. The official Tether wallet can be used via the browser at wallet.tether.to/app/, but there is also a Tether app for iOS and Android available in the app store.

I think the problem isn't so much that people don't know how and where to store your Tether, but rather whether Tether the currency will hold its promises and always pay back one dollar for each Tether. That is the major risk. If Tether collapses, billions of dollars will collapse along with it within a blink of an eye. I guess that is what people are concerned about. So far it has been holding its peg strong.

Yes that is why I shared the article above. It is indeed impossible to know whether these stable coin providers hold the reserves they claim to hold. What if something like a bank run happens and everyone out of a sudden wants to exchange their Tether for USD? Will they be able to meet the demand? Or maybe did they use the dollars to speculate on the market themselves? If Tether collapses, crypto will go into a new crypto winter.

There has now been even more news that leading officials of Bitfinrx and Tether are investigated for lying to banks in their early days about the purpose of those bank accounts that were opened with for example Wells Fargo. Wells Fargo demanded that no cryptocurrency related  activities should take place with the accounts opened with them. Bitfinex lied and did it regardless. Now the Department of Justice is probing things and they are going for some high profiles of the company.

[gabbie2010]

as proof I have had USDT since 2019 and until now there are still around $175 and safe there is no loss that I get so far. I think USDT is the safest coin for storage than other types of coins

But for a long time it is worth keeping other steblcoins, it will be safer in all aspects. I believe that usdt will be fine for a long time, but risks are always and everywhere.

The stability in the price of  USDT makes it a safe haven for many cryptos hodlers especially during massive dumping of the prices of cryptocurrencies although it is a centralized token, I always have a sign of relief after exchanging all my Bitcoin to USDT in a bearish season until I observe a turnaround in the market sentiment of the prices of cryptos before buying some coins.
 The fact that you hodl your USDT for two years attested to the fact that it is safe, secure and stable being the most popular stable coin it liquidity among the other stable coins is second to none and it also has a huge trading volume while being equated to U.S dollar is an added advantage.

[nurilham]

I dont think that we should be worried for USDT, that is safe and for sure most of the investors are using USDT

Safe or not, depends on what aspect do you consider. If you consider its audit transparency, I can say it is quite risky and not really safe. But if we consider how many people use USDT, it is surely safe enough with its high market caps and strong support from crypto community.

USDT is the best when you want a stable coin

I am not sure to call it the best. I never compare it to other stable coins, but considering the issue related to USDT, I think it is not as the best as you think. Other stable coins probably have better performance and with no negative issues.

USDT has also a lower transaction fee compared to other stable coon.

What network?
For TRC20, yes it is cheap transaction fees. But for another network, the transaction fees are quite expensive.

[JohnBitCo]

I dont think that we should be worried for USDT, that is safe and for sure most of the investors are using USDT when they are just waiting to buy a certain cryptocurrency. USDT is the best when you want a stable coin or you are waiting for crypto to invest. USDT has also a lower transaction fee compared to other stable coon.

USDT Tether is safe and we should not believe in the fuds related to USDT. If anything wrong happen to USDT Tether, the entire crypto market will collapse and i am sure this will never happen.
I am hopeful that USDT Tether will clear their case very soon.

[efreeti]

I dont think that we should be worried for USDT, that is safe and for sure most of the investors are using USDT when they are just waiting to buy a certain cryptocurrency. USDT is the best when you want a stable coin or you are waiting for crypto to invest. USDT has also a lower transaction fee compared to other stable coon.

USDT Tether is safe and we should not believe in the fuds related to USDT. If anything wrong happen to USDT Tether, the entire crypto market will collapse and i am sure this will never happen.
I am hopeful that USDT Tether will clear their case very soon.

there is nothing to worry about with tether, but indeed we cannot develop assets with tether, as it is a stable coin. but with this coin it is very useful for the transit of funds from our trade, so that our funds are not affected by fluctuations

There is nothing to worry about? For how long have you been in crypto? Do you know that a 1:1 backed stable coin can blow up within an instant? Literally, within an instant! It just needs very bad political decisions that get announced right now and stable coins, especially those that are fully centralized are in a hell of trouble. Along with stable coins being in trouble I can assure you stable coin holders will freak out completely. You know what that could lead to.

[feelideb]

Tether (USDT) stable coin is as safe as it get. There are many controversies surrounding the issuance of Tether coin, it's ability to pay all  it's supply in USD one for one and the irregularities of the bank deposit of Tether. We also heard of different lawsuit and the investigations by the authorities in the US about tether operations! Considering all the issues surrounding tether, it is however a good option for cryptocurrency users who need stability to create value and for those who wants to spend in fiat and hold usd for trading purposes! Tether has come to stay in cryptocurrency sphere and going forward, I believe tether will find solutions to it's problem one after the other!

[Nazmul012]

Usdt is still three no. lagest Cryptocurrency with billions dollar market share. I'm trading with it so long time and haven’t fall in any trouble or hear about such thing. Its true that printing millions of teher could manipulate the market and could be awfully effect on crypto industry but Your fund is safe with it. So i can say to you, Just feel free to trading with usdt as millions of people are doing currently

[vabchgent]

Usdt is still three no. lagest Cryptocurrency with billions dollar market share. I'm trading with it so long time and haven’t fall in any trouble or hear about such thing. Its true that printing millions of teher could manipulate the market and could be awfully effect on crypto industry but Your fund is safe with it. So i can say to you, Just feel free to trading with usdt as millions of people are doing currently

But if there will be trouble one day, the trouble will be real I promise that. When there is something similar to a bank run going to happen on those types of stable currencies, I don't even know how they would handle it logistically. They probably can't liquidate fast enough, people lose trust and start dumping their Tether perhaps at a discount. Which leads me to the point that even the companies themselves who provide stable coins would have an incentive to infiltrate the community with rumors about their own stable currency being in a bad situation, starting to buy up their own stable coin at a discount or a so called profit margin.

[LordMiguel]

Currently, as of August 2021, Usdt is save. they have cleared their issues with the Fed and also prove that that they are a stable token with pegged to the Dollar. it is a relief to many supporters. The Usdt is even stronger than more stablecoins. been the oldest and the first stablecoin in the crypto market, i think it is stable and safe to use. you can exchange your tokens with usdt.

[llecrf]

Today, the tether continues to print 250 million tether, raising the tether's market capitalization to more than $ 2.7 billion to reach the top 10 coinmarketcap. People say that every time a tether is printed, the bitcoin price increases because the tether pumped USDT onto the floor to push the bitcoin price. What do you think about this and keep the USDT safe?

USDT is based on Fiat USD currency and I think it's safe, USDT multichain makes it easy for all users to make transfer this stablecoin to other networks that are supported by Ethereum, Bsc, Tron and other blockchain.

- https://bscscan.com/token/0x55d398326f99059ff775485246999027b3197955

If you invest in Bitcoin and convert it into a stablecoin, I think it's safe, because so far there have been no problems affecting users because they have this stablecoin, because usdt is the same as fiat, the price doesn't fluctuate