Is USDT Tether safe?

[bengsabeng]

last year this coin was used by many people because at that time the price of BTC and altcoin was dropping very dramatically, people saved their assets in the form of USDT because this coin has a stable value.

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[umbara ardian]

For me, USDT is very safe until now. This is the only stable stablecoin in the market with the highest market capitalization. It doesn't matter if you hold USDT for a long time, it can't collapse

[akirasendo17]

as far i can see tether coin never goes down as the lowest i see is like .99 usd or .9usd as lowest
this is being use by bitcoin holders to be safe from bitcoin while it crash their money will never suffer or not experience a lot of lossess why?
because once bitcoin goes down tether goes up they even get free money from it

[Marnihughes82]

I don't know if keeping usdt is safe. But I see all exchange support usdt and everyone uses it a lot, and it can directly convert to legal money. Therefore I also keep usdt. Hope that it maintains its criteria

[cunguks]

I don't know if keeping usdt is safe. But I see all exchange support usdt and everyone uses it a lot, and it can directly convert to legal money. Therefore I also keep usdt. Hope that it maintains its criteria

I have it, even I often use it to store my daily trading assets. it's safer than storing in other crypto forms that move very dynamically.

[Alohadanc3]

If you asked me this same question 1 year earlier I would say it is safe. 1-2 year back there is not much stable coin like today. We all used tether most of the time as a stable coin. There was one and two more popular stable coin. But suddenly in the market we got some news regarding tether that was not good they are not purely backed up and printing whenever they want. So people are afraid and started to using other stable coins. Many established project started to offer stable coins. But as a stable coin I still use tether and it's works fine for me. Now it's upto you cause in this market now many choices available.

[guydin]

Usually printing more money are bad signs, i don't believe there will be good news regarding USDT.

It is just a drama, that repeatedly makes alive over time, in order to force the price of bitcoin falling down as deeply as possible, and if can have significant impacts on general crypto market (massively massacre), it is fine, too. So, whenever such kind of drama occurs, you should know that price will highly falls down, but the interesting point is some weeks or months later, they all will recover so well to where they start to decrease. That's all you need to know, USDT, USDC, USD X, or whatsoever USD z, it does not make sense if you know those basic rules of whales' price manipulation efforts.

50 billion USTD that were printed and then burnt is proof that nothing can be safe and secure. Stable coins also can bring their investors a loss. Suppose that after this mistake, and together with the hype around Libra Facebook coin, everything can happen to Tether.
nevertheless, stable coins are needed as the alternative of traditional money, but online.

[Eadefemi]

I don't know if keeping usdt is safe. But I see all exchange support usdt and everyone uses it a lot, and it can directly convert to legal money. Therefore I also keep usdt. Hope that it maintains its criteria

I have it, even I often use it to store my daily trading assets. it's safer than storing in other crypto forms that move very dynamically.

Most trader prefer to keep their assets in tether because there's no fear of dump or whatsoever. I think tether is very safe. Printing of tether and the that affecting the price of bitcoin is what I do not understand. Nevertheless, we all need the market to grow and tether being a part of the market is one growth if the presence will bring improvements.

[disconnectme]

I don't know why some people are scared of Tether, for me there is nothing to worry about, all these FUD stated with the influx of more stable coins to the market and since they all want to have a share of the market they need to fight the top dog in the space, Tether is save and people need to credit the team for all they have done for the space

[Annisa_crypto]

Just buying a tether like any other stable coins makes no sense, since they alone cannot make a profit. Stable coins are created more for ease of use of cryptocurrency, so as not to withdraw our fiat cryptocurrency funds in some critical situations, and then, when the time is right, do not return these funds back to cryptocurrency. Previously, without stable coins it was quite difficult, and they make it easier for us to move from one type of cryptocurrency to another, when it is urgent to withdraw, and investing in another type is still early.You can invest on btc to usdt for good returns

The best thing you can take from the answers here is a list of cryptocurrencies that have been recommended, then conduct your own analysis to evaluate which cryptos may have a good future.

[Chemcrier]

Even with all the controversy surrounding Tether, there is no doubt that it is much needed in the crypto market right now and so it's a neccessary sin and therefore safe, this is evidenced by the fact that:
1. It is being used daily especially when it comes to Stop-loss
2. It is being integrated into more and more blockchains
3. It has been around for a long time (I think it's first stablecoin)
4. If anything ever happens to Tether, the crypto market might not recover from it fast.

[Mrpumperitis]

When the USDT tether printer switches off, expect Bitcoin and the whole crypto market to drop Minimum 10x.

Tether has never been audited and they admit its not backed by  1-1 real dollars.
They admit USDT is up to 75% backed by a mix of assets.
 "reserves, which include traditional currency and cash equivalents and, from time to time,other assets and receivables from loans made by Tether to third parties."

Aside from inflating the crypto market, USDT offers alot of fake buy support, keeping prices high.
When the buy support gets shut down, liquidity buy side will disappear and almost everyone will make huge losses.

Tether scam will make all crypto look like a scam as most do not understand the difference....
Many Tether backed exchanges will go off aswell, taking users coins/funds.

So no, Tether is not safe and we are all at risk more now than ever before thanks to Tether and its friends.


Long term once USDT is shut down, Stablecoins will be replaced with CBDC.

[DU18]

It's stable coin and not have so much pump or dump, do in my opinion, it's safe.

If you want to save funds, it's good to choose usdt because usdt often experience stable price movements, but in this case, as a trader certainly is not a safe point to look for, because without an increase in price there is certainly no profit to be gained from investing usdt, for those of you who wants to look for profit, it's better to invest in another altcoin that is more potential than usdt

[Mrpumperitis]

When the USDT tether printer switches off, expect Bitcoin and the whole crypto market to drop Minimum 10x.

Tether has never been audited and they admit its not backed by  1-1 real dollars.
They admit USDT is up to 75% backed by a mix of assets.
 "reserves, which include traditional currency and cash equivalents and, from time to time,other assets and receivables from loans made by Tether to third parties."

Aside from inflating the crypto market, USDT offers alot of fake buy support, keeping prices high.
When the buy support gets shut down, liquidity buy side will disappear and almost everyone will make huge losses.

Tether scam will make all crypto look like a scam as most do not understand the difference....
Many Tether backed exchanges will go off aswell, taking users coins/funds.

So no, Tether is not safe and we are all at risk more now than ever before thanks to Tether and its friends.


Long term once USDT is shut down, Stablecoins will be replaced with CBDC.

Remember Bitfinex/USDT MUST hand in all requested documents by the NYAG regarding USDT before 14th Oct 2019
IMO
Do not hold any USDT.
Do not trade on USDT only exchanges.
If you have profits just now...take them.
If you are breaking even, get out now.
If you have a bit of loss, accept it before you lose all.
Wait until the investigation is finished then decide what to do...Good luck everyone.

[Emilyp]

Tether isn't safe
It doesn't have any backing whatsoever
It's price isn't dependent on anything
There's no supply cap rather it gets printed from time to time.

[farraddy]

Tether can be used for short-term storage of funds when there is no desire or opportunity to go to fiat. I would not use USDT as the main currency for long-term storage.

[Mrpumperitis]

Tether can be used for short-term storage of funds when there is no desire or opportunity to go to fiat. I would not use USDT as the main currency for long-term storage.

If you have no desire or opportunity to go to fiat, then prepare to be REKT.
Holding USDT risk is now the highest it has ever been...same goes for having funds on exchanges that offer no fiat options.

[MMA Rats]

As for me, USDT is safe, I often use it and it suits me completely like steyblkoin, but on the other hand I hear a lot of negativity in its direction

[Mrpumperitis]

https://beincrypto.com/tether-co-founder-it-doesnt-really-matter-if-usdt-backed-by-equal-amount-of-dollars/

The whole crux of the Tether controversy rests on the fact that the leading stablecoin likely is not backed by what it claims to have in reserves. With the Tether Treasury minting more USDT on a semi-consistent basis, it may feel like a lot of USDT is just some hot air based on ‘trust.’ However, in a shocking admission by the co-founder of Tether, that may just be all there is to it.

As Lisa Abramowicz of Bloomberg Radio reports, William Quigley, both the CEO of WAX and the Co-founder of Tether, believes that having the exact amount of USD reserves to back USDT is not that important. In fact, what is important is that investors believe it is worth $1.

[Vishnu.Reang]

As Lisa Abramowicz of Bloomberg Radio reports, William Quigley, both the CEO of WAX and the Co-founder of Tether, believes that having the exact amount of USD reserves to back USDT is not that important. In fact, what is important is that investors believe it is worth $1.

In case any of this is true, then we should avoid USDT like plague. I would never trust any of the stablecoins. They are diametrically opposite to the idea of decentralized cryptocurrencies. Linking the cryptocurrency technology with fiat currency is never going to work. Take Bitcoin for example. The advantage with Bitcoin is that you are capable of storing your money by yourself. That is not applicable for USDT. You may be holding the tokens, but the real money is being held by someone else.