Is USDT Tether safe?

[esofelap]

Nowadays i am very confused about that usdt, it become terrible about more than blockchain, i stopped to use it.

If you want to buy btc, you can do it with usd or tether, but I don’t understand for what reason people buying usdt and hold it.

Holding USDT is having the same risk as holding your cryptocurrency in an exchange wallet. In case of the second option, your coins are being held by the exchanges and they can get hacked, or the owners may vanish with your coins at anytime. On the other hand, if you hold USDT then you are holding the tokens by yourself. But these tokens can become worthless, as their real value is being held by the individuals who store the backup for Tether tokens.

Keeping your funds on exchanges is not the right idea, it’s better to use purses specially made for each cryptocurrency.

[MMA Rats]

Many people write that USDT is not stable, I personally have been using this coin for a long time and I am fully satisfied with it, it has proved its safety over time

[esofelap]

Many people write that USDT is not stable, I personally have been using this coin for a long time and I am fully satisfied with it, it has proved its safety over time

First of all, USDT is a token and not a coin, and secondly, why exactly do you use USDT and for how long?

[asradoni]

I use USDT as an islet of earnings on the depreciation rate, it is more stable and hard times can be spent on it. At the expense of security, I would not keep it as the main asset.

[tonyvo2017]

USDT is really important in the CMC market. Every time the whales print USDT, it means that the market is about to be pumped up and USDT is an integral part of the market.
But I'm quite concerned about printing so much money, where does it rely on to print money automatically?
I am afraid that the amount of money printed too much will affect the market in the coming years.

[Impaler]

Yes I think So. I am a long time user of usdt. And I never faced any kind of problem. There was a fomo about usdt about it backed up asset. But its going fine. And still it ihas the most volume among all stable coins. And if you think it is not safe then  you can go for other stable coins. There are so many available.

[3x2]

USDT was created just to be equivalent to USD. people love it and when the market is down the streets in blood they love to convert all assets to USDT as it guarantees the usd price at the timestamp we bought it.

there are few issues of institutions making more and more USDT which can be a dangerous sign in long term.

You can read Article by Forbes that USDT no longer guarantees 1:1 USDT to USD peg. https://www.forbes.com/sites/francescoppola/2019/03/14/tethers-u-s-dollar-peg-is-no-longer-credible/

[bitcon]

I think at this moment usdt is safe. I used usdt for a long time and I never faced a problem with a problem with it. But at a time usdt has a problem. There is a news about usdt that usdt doing something wrong. There is news about usdt that they are printing unusual. And that point many  people don't like ustf. And at this time many stable coin comes up. But I think still usdt is fine for use.

It is safe and it has many pluses. The main one is almost no volatility. USTD is close 1 dollar all the time. Secondly, transactions are very fast, and sometimes, they are completely free. Of course, Tether is mostly for using it not for investing money. This is a great tool to deal with the digital form of fiat, getting fast-speed and very safe operations. Thus, I would add Tether into the wallet.

[royalfestus]

Nowadays i am very confused about that usdt, it become terrible about more than blockchain, i stopped to use it.

If you want to buy btc, you can do it with usd or tether, but I don’t understand for what reason people buying usdt and hold it.

Holding USDT is having the same risk as holding your cryptocurrency in an exchange wallet. In case of the second option, your coins are being held by the exchanges and they can get hacked, or the owners may vanish with your coins at anytime. On the other hand, if you hold USDT then you are holding the tokens by yourself. But these tokens can become worthless, as their real value is being held by the individuals who store the backup for Tether tokens.

You dont understand the use of Tether, if you do you wont ascribe such a damaging reference to it. It is not as volatile as any coin which makes it easy to keep the value of any coin while taking profit. There are several wallet that hold tether with your access to their private keys, that can keep it as long as u demand.

[sorrros]

USDT is as safe as American Dollar, if we forget that it is managed by a central private authority.
America has a lot of problems, a trade war with China and other countries, which puts the stability of the dollar at risk, so I'd rather choose other stable coins. 

[wywoc]

Tether has been around since 2017, and has experienced a lot of FUD and volatility so far, but it still stands and keep the No. 1 position of stable coin in the market. So we can trust it, especial when they use Tron and Ethereum chain to reduce fee.

[bustedsynx]

Tether has been around since 2017, and has experienced a lot of FUD and volatility so far, but it still stands and keep the No. 1 position of stable coin in the market. So we can trust it, especial when they use Tron and Ethereum chain to reduce fee.

Well, apparently the FUD presented by Twitter user @Bitfinexed, is mostly hot air. There is a grain of truth in what he said but it is not something to worry about. In fact, I believe it was not Tether's fault that the dollar backing went to 85%. I think it was the state of New York.

[FaucetKING]

I honestly hate USDT. I hate it. The company behind that token is valuable because of the peoples who need to put trades all day long. The reputation is the case here, look!. Imagine, one day you open CoinMarketCap and you dig and search for Tether, you get rekt when you see the supply of Tether getting increased into 1000 billion USDT, that volume keeps growing and getting injected in the BTC/Any other Altcoin's marketcap, that will make that coin soar. Now, imagine that the company behind USDT have bought 70% of the supply of that coin (who got pumped) and now, after the incredible pumps, sell orders and BIG sell orders starts showing till the coin gets dumped to near 0 value. Now, imagine that this scenario happens with BTC, what will the world face? tell me?

[plast555]

Many people write that USDT is not stable, I personally have been using this coin for a long time and I am fully satisfied with it, it has proved its safety over time

Yeah, it's absolutely true. USDT is the most stable of all stable coins. There are various statistics on this and the standards of the USDT have been proven.

I haven't used any stable cryptocurrency other than USDT until now, but I can say I'm pretty confident.

[Mrsparks]

personally my trust in USDT  dwindled the day I discovered it's not completely backed against the dollar currency. It's quite shocking that they keep printing and issuing fresh USDT into the market but yet we can't see much influence on the crypto space. In my opinion, only my local currency is safe

[sniveling]

I've been cryptocurrency for about 2 years now and when I need to fix a certain amount of money, I always used USDT, personally I have no claims to USDT

[asradoni]

USDT has been stable for more than 4 years, it has been showing stability all the time, personally I use taking profits on exchanges in connection with an unstable situation. USDT helps me a lot in this.

[royalfestus]

personally my trust in USDT  dwindled the day I discovered it's not completely backed against the dollar currency. It's quite shocking that they keep printing and issuing fresh USDT into the market but yet we can't see much influence on the crypto space. In my opinion, only my local currency is safe

Not completely but with over 70% fiat backing and others asset. It has a lot of legal biding within and outside US, and had been under series of investigations the past years and still in market. Some opinions on the coin speculates a strong influence on bitcoin price, though less than $4b market but will see more supports with strong interest.

[Dervish doff]

USDT has a very advanced market share, and many are supported by billionaires in the world in currency concepts like the dollar, the price is as the dollar exchange rate on fiat or money exchange, yes that is my interpretation, for that is definitely the level of security also must be tightened to anticipate things that are not wanted, to increase the value of the trust of USDT users, in storing and buying and selling processes, the more advanced a coin including USDT, the tighter the security.

[asriloni]

personally my trust in USDT  dwindled the day I discovered it's not completely backed against the dollar currency. It's quite shocking that they keep printing and issuing fresh USDT into the market but yet we can't see much influence on the crypto space. In my opinion, only my local currency is safe

Not completely but with over 70% fiat backing and others asset. It has a lot of legal biding within and outside US, and had been under series of investigations the past years and still in market. Some opinions on the coin speculates a strong influence on bitcoin price, though less than $4b market but will see more supports with strong interest.

Okay, and I have a question what kind other assets used by tether to backed its coin? Loan?
So many times tether has already changed its claim about 100% assets(USDT) backed by traditional fiat money.
https://www.forbes.com/sites/francescoppola/2019/03/14/tethers-u-s-dollar-peg-is-no-longer-credible/#6c556f7a451b
I agree with the writer in that article.

Those opinions are not the only speculation only but so many parties have made a study to the 2017's bullrun and the majority of the result were saying the same if tether is the main actor behind the bitcoin pump.
https://www.investopedia.com/news/bitcoins-2017-rise-was-market-manipulation-tether-study/

This company is not again credible in my eyes.