Is it ok to convert my BTC savings to Tether when the price is high?

[semutracing]

the best way to earn a profit is to sell when you have started getting it some people do this. I do not really want to pass on my bitcoin to tether. But if you believe that tethering will retain its value, you can convert your bitcoin as much as you want

[vincentong17]

It's proven that bitcoin is more valuable than USDT or Tether. As long as you are a trader you can convert it to Tether and you can swap it on bitcoin if it's surge high. believe me Bitcoin Price right now is way more better than any fiat currency.

[JohnDcosta]

IN market there are lots of coins are there based on this you need to choose right one also this idea is good also I don’t have any idea about USDT but as far I know its not so good so before invest or transfer judge that coin and be aware of scams.

[surgical_duude]

I'm never able to sell on time... and just regret every that why I did not sell when the price was high.

Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?

Basically, that's a great tactic. The question is: "When will you exchange USDT into BTC again?". That is the key to this idea. In short, this strategy is suitable for people with good trading skills. You may need more experience to be able to do it in a good way.

[spiker777]

Basically there are at least two levels of strategy when it comes to trading. You can either tether it to preserve its value in USD, or you can exchange it to a coin that has higher potential. For example, if you you see that ETH is gaining faster than BTC, then you'll convert BTC to ETH, if then you see that ZIL is gaining faster than ETH, then you convert ETH to ZIL. Keep doing this every time there is a breakout and you'll net a fair profit.

[cryptobae10]

I think it’s okay if you keep your bitcoins in tether

It means that if you store 1000$ of bitcoin to tether when bitcoin is 20,000$
When bitcoin drops to 5000$ and u want to withdraw your tether balance
You will withdraw back 1000$ of tether back to bitcoin and get 99% of your money back

Very safe, fast and prompt for short term storages

[chip1994]

Your opinion is very good but in my opinion when the BTC rate is high, if you have not reached the peak then you should hold instead of convert to USDT. I usually only convert to USDT when the market rate is low to avoid losses. In addition to ETH and BTC, hold for long-term is a way to make huge profits.

[snipie]

There is nothing wrong with the idea If you trust Tether. It's actually what everyone is doing right now since it's more convenient.

If you're like me and you have some doubts about USDT and don't believe that it will maintain it 1 USD value forever then It's not suggested, at least not for storing for a long period of time anyway.

Yes i agree with that. For short period and especially in exchanges dealing with cryptocurrencies only, USDT is the best alternative to keep your earning. For long periods, no one will know if its price will remain the same or will be divided.

[ItsZeroLimit]

I'm never able to sell on time... and just regret every that why I did not sell when the price was high.

Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?

How you guying doing this? Please let me if you have any other idea?

Any replies much appreciated. Thanks

If you are not satisfied with the USDT, you can exchange coins for real money on any exchange, that supports trading in a pair to the fiat money. Use better-proven exchanges. But do not forget that for the exchange to real money, 99% of exchanges require an account confirmed by documents.

[chokomenia]

It is a very good idea, I normally convert few of my coins to USDT, I will leave just in case we enter bear market, I will use the USDT and buy more alt coins and wait for them to gain so that i can sell off.

[jalaaal]

I'm never able to sell on time... and just regret every that why I did not sell when the price was high.

Actually I don't have any direct option to covert my crypto to USD or any other fiat currency at ease... it take 1-2 weeks minimum or may be more to withdraw money from crypto (due to my geo graphical location). Later I have been thinking since Tether is 1=1 with USD is good idea to convert Bitcoin or any crypto to tether when it's ATH and later buy back when prices are low?

How you guying doing this? Please let me if you have any other idea?

Any replies much appreciated. Thanks

yes, its ok, since it is your own money, there is no one that can control you for what you should do with it, you are the only one who can decide of what you're gonna do with that.

[kipozer]

That's how it turns out to fix your deposit, those who managed to do it during the period when bitcoin was $ 20,000 very well could make money on it, but by that time many people did not understand how to use Tether correctly.

[snipie]

It's better if you convert your crypto currency when the price is low. It will help you further.

You mean convert it when the price starts dropping and not when it is low because then it is a pure loss
Buy low and sell high, this is the key for success

[Aniwura]

If you can rely on tether, way not? Well, it is known that tether has a fixed value and  this has been a controversy for quite some time now. Although, you have a good idea, which might save you from loosing your money. You can go on with it, but do not forget to exchange it back into bitcoin or any other at the right time.