Is USDT Tether safe?

[Nivelir]

A lot of noise around this project. You remember that at the beginning of the fall in prices for BTC there was something similar, I hope that this time there will be nothing of the kind. because the prices for BTC today are already very small.

[De_nis]

I think USDT can be trusted, because if not them then where to get a stable coin through which you can record profits?

[bustedsynx]

It doesn't backed or tied with anything. Try not to keep your assets with Tether, there will be always questions such centralized coin. Tether is great when you need to ride out a storm or simply make some breathing space. I am not a big fan of Tether, yet I feel good with it in bearish time.

I feel dirty exchanging my bitcoins to Tether when I do hedging or preserve my portfolio's worth. It's great for shorting but that's it. I don't trust holding it for long. I might run into bad news and be left holding a bag of worthless USD wannabe.

[vennali]

I think USDT can be trusted, because if not them then where to get a stable coin through which you can record profits?

Thats an invalid excuse to trust something that might scam later. There are many stable coins. These include USDC which is offered by Coinbase, and then there is Dai which is backed by dollars and has proof to do so. With tether, nothing is audited, so you might end up holding nothing but 0 value coins incase they get audited and it comes to light they are not backed by actual dollar.

[rachman mahesa]

USDT and USDC like very safe and stable. If you experience a decline, it's not too significant like the other altcoins. I am sure that in the future this will work well as it should. Until now it can be said that it is still safe because the USDT ratio will remain 1: 1 with USD.

[puremage111]

No and never
An audit was recently made and Tether had only 74% asset/cash to back up all their Tether IIRC

Tether has been flagged a huge red big flag by the crypto community for quite some time because of how shady and non transparent they is

[Sithara007]

No. Tether is not safe, as it is not fully backed up by cash or other equivalents.

A few days back Zoe Phillips of Morgan Lewis, the attorney representing Tether admitted that USDT is only 74% backed up by cash or equivalents. The details can be accessed here:

https://www.scribd.com/document/408190969/Zoe-Phillips-Filing-4-30?campaign

There is no immediate threat to anyone, as I don't expect that more than 74% of USDT will be redeemed in one go. But the fact that USDT is an asset that is not fully backed up is a concern for us.

[vennali]

USDT and USDC like very safe and stable. If you experience a decline, it's not too significant like the other altcoins. I am sure that in the future this will work well as it should. Until now it can be said that it is still safe because the USDT ratio will remain 1: 1 with USD.

How can something be seen to be safe for the future based on its current standing ? Just because a stock is trading at a good price right now doesn't mean its safe and will continue to do so in the future. You should read up on tether and the accusations made against it.

No and never
An audit was recently made and Tether had only 74% asset/cash to back up all their Tether IIRC

Tether has been flagged a huge red big flag by the crypto community for quite some time because of how shady and non transparent they is

I feel even 74% is too big of an amount, I expect the number to be close to 40%. I wouldn't trust an affidavit by their lawyer though. An actual audit companies need to look into the numbers.

[edwardmolasses]

I made an alert to notify if Tether is becoming unstable, hopefully useful to someone here.

Free at chrome webstore: https://chrome.google.com/webstore/detail/usdt-tether-alert/bcplcldimgcjgjjcghmilomdkbmoogai

Explanation of the metrics is in the webstore description.

[z21770179]

I think USDT can be trusted, because if not them then where to get a stable coin through which you can record profits?

It is possible that in the current stable coin it is the highest security coin. Because if anything happens to it, it can greatly affect this market

[Runbitup]

I think USDT can be trusted, because if not them then where to get a stable coin through which you can record profits?

It is possible that in the current stable coin it is the highest security coin. Because if anything happens to it, it can greatly affect this market

talking about security, coin mooring is quite safe, but if for the long term it is still a mystery, so we cannot believe fully if the coin will always be stable because anything can happen in crypto.
so for now I think Tether is good enough to buy.

[Aryleeto]

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 use usdt for a long time and never this coin did not fail , I think if you fix the profit only to the usdt because the liquidity is very good!

[ub27]

USDT in my own opinion is not bad, I've been using it to convert my coins when I think there will be an incoming dip or when I want to close my trades to reduce volatility.

[iqlimasyadiqa]

USDT in my own opinion is not bad, I've been using it to convert my coins when I think there will be an incoming dip or when I want to close my trades to reduce volatility.

right, that at the moment is in a very good position. prices that can be said to be stable make us become the choice for many people. usdt, bitcoin and etherum are in the top position. so we will feel much safer and can even avoid negative situations caused by the volatility of the digital currency prices. I recommend USDT as one of the best investments in digital currencies that can provide security and stability to the assets we have.

[btcsmlcmnr]

The USDT drama is not new, it has been here since 2017, but it has still been the biggest stable coins in crypto. During the bull run of Bitcoin in 2017, lots of news said about unlimited USDT can be launched to satisfy market demands. It means USDT is not a actual stable coin, and another drama later on. Generally it is not good if someday USDT collapse, which will create instant and long delayed effects on crypto. In addition, one of basics stuffs of Tether I don;t like is it dependence on Bitcoin network. When Bitcoin network got troubles, fees are high, USDT got same issues. I think we need substitute stable coins that operate on non-bitcoin network.

[pedpedped101]

We really need a control mechanism that would help is curtailing unnecessary increase in the amount or total supply of a coin. USDT might have remained the only stable coin, if not for its instability in total supply. This on its own affects it might have remained as the only stable coin. Well it is now good that there are now so many of them in the crypto space.

[mangsitin]

I think USDT is very good as Crypto stable coin, because the market capacity of USDT is very large and currently USDT is in the top rank of CMC, so it is very good for me.

[prof7bit]

I think USDT is very good as Crypto stable coin, because the market capacity of USDT is very large and currently USDT is in the top rank of CMC, so it is very good for me.

This is a simple and very convenient tool for fixing the fiat value of cryptocurrency assets! I advise you to use USDT everyone!

[xtraelv]

https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=/_PLUS_iqIuzGOBBoAaaiknE4Ag==

New court documents show:

Over the past year, cryptocurrency platforms Bitfinex and Tether have allegedly issued tethers as loans to investors, run an unregistered securities offering and conducted business in New York despite being banned from operating in the state.

https://decrypt.co/7795/investigators-tether-loaned-usdt-to-investors-illegally-traded-in-new-york-ran-an-unregistered-securities-offering

Tether now surpasses Bitcoin in market volume trade.





https://twitter.com/whale_alert/status/1148252407983497216

100 million new tether minted

There is a crypto moon coming or a tether apocalypse !

Tethers have been issued unbacked as “loans” to certain investors, despite prior claims that the so-called stablecoin is backed “one to one” by dollars in an offshore bank account (Though executives now say it is “74 percent” backed).

https://decrypt.co/7795/investigators-tether-loaned-usdt-to-investors-illegally-traded-in-new-york-ran-an-unregistered-securities-offering

[Barracuda]

For now, the stable coin that I still believe is USDT. Indeed, today there are a lot of stable coins, but what many believe is of course USDT compared to others. So you don't need to be afraid right now.