Is USDT Tether safe?

[Mikcik]

I am not a big fan of centralized stable coins like USDT. It is backed by $ but the real problem is how to control it, and audit it all the time. Some doubt will always be present. I have more faith in decentralized solutions like DAI has.

I personally don't understand why people decided not to give Tether the credit which it is due, there is no Sable coin in the space now that is well capitalized as Tether. I am not saying they have all their tokens backed by USD but they have huge Fiat reserve to backed up their claims. DAI have a good designed but will not scale to a Billion Dollar project IMO because of so many limitations

If i remember right there are rumors about manipulating USDT by bitfinex management who behind this stable coin idea. TrueUsd should have backup and it will be more safe to prefer TrueUsd than USDT.

But then USDT was retested, and it is now guaranteed to have that amount. However, now that many stablecoins exist, I think its position is shaken when there are many competitors and they prove that their currencies are much safer than USDT.

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[Gryphet]

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?

Well, in 2017 there was a lot of negativity in the usdt, but as far as I heard that this coin was audited and now you can safely look at this audit , I think you should not worry much

[trudovik]

What can I say about Tether USDT. If my memory does not change me, then I think that most of the projects today were really pumped up by the USDT, so they have already shown what they can do. But still there are big questions to the project.

[whiteblue]

you should already know in cryptocurrency and for the USDT tether it cannot guarantee security because all cryptocurrency has a risk and you must be careful with all existing cryptocurrency.

[bolshojkush]

I am not a big fan of centralized stable coins like USDT. It is backed by $ but the real problem is how to control it, and audit it all the time. Some doubt will always be present. I have more faith in decentralized solutions like DAI has.

I personally don't understand why people decided not to give Tether the credit which it is due, there is no Sable coin in the space now that is well capitalized as Tether. I am not saying they have all their tokens backed by USD but they have huge Fiat reserve to backed up their claims. DAI have a good designed but will not scale to a Billion Dollar project IMO because of so many limitations

If i remember right there are rumors about manipulating USDT by bitfinex management who behind this stable coin idea. TrueUsd should have backup and it will be more safe to prefer TrueUsd than USDT.

But then USDT was retested, and it is now guaranteed to have that amount. However, now that many stablecoins exist, I think its position is shaken when there are many competitors and they prove that their currencies are much safer than USDT.

All stable cryptocurrencies appeared after the USDT and it says a lot. USDT is a pioneer, as in its time bitcoin. Therefore, it will forever remain the main stable cryptocurrency.

[mutrang23]

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 currently the most stable Altcoin because everyone recognizes its value as USD and it is the best intermediate Altcoin. Although the amount of exchange is huge every day the volatility is very low because of its high stability, it attracts many favorite investors.

[macstrong12]

Since binance and okex are using it, I would use it too, I know it has been a bit shady recently but we need to use some stable coin anyway , There are many stable coins these days and I use TUSD too, I don't know which one is better actually!

[St4yInTh3D4rk]

you should already know in cryptocurrency and for the USDT tether it cannot guarantee security because all cryptocurrency has a risk and you must be careful with all existing cryptocurrency.

OP might be asking about the stable value of USDT,but its definitely not and there is no assurance that the value will be much stable at these and we can already see the price dropped because of bearish trend even with stable coins.So don't use any stable coins for long term purpose.

[Sanderion]

Since binance and okex are using it, I would use it too, I know it has been a bit shady recently but we need to use some stable coin anyway , There are many stable coins these days and I use TUSD too, I don't know which one is better actually!

I can't agree with your logic about Binance and Okeks =) I think you should not blindly follow these exchanges. As for Tether, I think this is a fairly reliable coin. In my opinion, all the negative news about Teter was more of a manipulation. If something really bad happens to Tether, then the whole cryptocurrency market will have huge problems, and no one is interested in that.

[Belianez]

I myself now use usd it is well established in the market and I think that it is unlikely it will be able to close or something will happen to him

[Chemcrier]

Even with all the controversies that has been surrounding this coin in recent times, they still manage to stay afloat up till now, so I guess it is as safe as any Cryptocurrency can ever be.

[asayoyaasa]

I think USDT is safe currency for saving long term or saving when BTC crushed like last year. The best currency for people who affraid if their asset decreased cause cryptocurrency's volatile.

[James Corden]

What is Tether?

A common issue faced by cryptocurrency traders is the pace of movement of funds. See a better rate on a different exchange for your favorite cryptocurrency? It’s going to take a while before you withdraw funds from your exchange and move to another.

See your coin’s price dropping? Want to sell it for another cryptocurrency? What if that one witnesses a price drop as well? That’s where Tether (USDT) comes in.

Tether: The Basics?

Just like the name suggests, Tether is a controversial cryptocurrency that is allegedly tethered to unending trading disputes and dubious ownership. This digitized token claims to be supported by US dollars reserve, portraying a 1:1 relationship with the underlying fiat currency.

This simply means that one Tether issued by the company has an equal value as of 1 dollar. However, the company has typically not able to produce conclusive evidence of their currency reserves, which has attracted a lot of negative attention from the markets and regulators alike.

Initially named as "Realcoin", the Tether cryptocurrency enables you to facilitate the transfer of national currencies, use Tether as an alternative to other cryptos and offer a quick exchange to other cryptos. Also, it shares a complex relationship with Bitfinex, one of the largest cryptocurrency trading platform. In short, it has a history worth sharing in the world of cryptos.

What are the benefits of Tether?

According to the parent company, a Tether coin is a stable currency, where each unit of Tether is pegged to each unit of a standard currency like the US Dollar.
Moreover, as per the website, it is 100% backed ie, 1 unit of Tether ( 1 USDT) is supported by 1 USD in reserves, against which they are issued.
This tethering to the USD allows traders to quickly come in and out of their cryptocurrency holdings, which is faster than dealing with fiat currency, and especially more economical than dealing with other cryptocurrencies.
For eg., if Bitcoin were to dip, a trader could quickly sell his Bitcoin holdings for USDT, which would retain their value, only to enter Bitcoin again at lower prices.

[Geenstijl]

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?

I don't think it's safe enough, but it has the largest cap, history and every day volume between stable coins. Nevertheless I prefer to diversify my deposit to fiat USD and different other stable coins.

[Psynthax]

I am not a big fan of centralized stable coins like USDT. It is backed by $ but the real problem is how to control it, and audit it all the time. Some doubt will always be present. I have more faith in decentralized solutions like DAI has.

I personally don't understand why people decided not to give Tether the credit which it is due, there is no Sable coin in the space now that is well capitalized as Tether. I am not saying they have all their tokens backed by USD but they have huge Fiat reserve to backed up their claims. DAI have a good designed but will not scale to a Billion Dollar project IMO because of so many limitations

If i remember right there are rumors about manipulating USDT by bitfinex management who behind this stable coin idea. TrueUsd should have backup and it will be more safe to prefer TrueUsd than USDT.

But then USDT was retested, and it is now guaranteed to have that amount. However, now that many stablecoins exist, I think its position is shaken when there are many competitors and they prove that their currencies are much safer than USDT.

But this one is still lack of transparency and how they can print more USDT in every period? That doesn't make sense and i never heard this company has an active source to get income. This is possible to be called as a manipulation.

[thefoex]

so far there has been no problem for USDT. there is no hacking and I see tether becoming one of the stable coins even when the market fell a few months ago.

but despite all that, there are many questions about this coin. even though I use USDT for trading but I still have doubts about this coin.

[ibrahim160994]

Usdt has succeeded in pushing BTC prices, what to watch out for is that the high winds that will be caused by USDT if their material is not enough to maintain this position

[gunhell16]

I hope that the wallet in my country where you can exchange BTC and other cryptocurrency to FIAT will include this one USDT.
There are some tokens or coins which can only be traded on USDT which we need to buy BTC or ETH for us to transfer it to wallet then change it to FIAT again.
This will make better if USDT will be available on wallet IN EVERY WALLET all around the world.

[ned.ryerson]

I hope that the wallet in my country where you can exchange BTC and other cryptocurrency to FIAT will include this one USDT.
There are some tokens or coins which can only be traded on USDT which we need to buy BTC or ETH for us to transfer it to wallet then change it to FIAT again.
This will make better if USDT will be available on wallet IN EVERY WALLET all around the world.

I think this will never happen. because the goal of the cryptocurrency world is to switch to payments in cryptocurrency and not in stable coins

[valek.bruno]

It seems to me that the USDT project has been in the shadow for a very long time. Probably today it is one of the most hidden projects that can show people how greedy they are, because this project is just a printer of its kind and nothing more.