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

[voltagecrypto]

It would be a good idea. But if the price of bticoin rise just after that you will loss something. You can wait a few time more. Market has not grow from long time,. So there is a chance of prise rise soon. But since this is your money, so you should research more before doing it finally.

[bristlefront]

Yes since tether has a stable price same a the dollar. It is good to convert bitcoin to tether before the price collapse like today the bitcoin goes $5000 and you are lucky if you convert your bitcoins to tether when the price is high for example $10,000 before it collapse it means that you dont need to deposit dollars to buy bitcoin when you already have tether. It is what I planned before but sad to say i have no bitcoin at that time.

[currencydesigner123]

As the market value of BTC changes the investors takes advantages of it. The motive, to buy at low value and sell at higher value. But to completely take advantage of this opportunity the correct timing is required. Problems are faced by sellers due to geographic locations and which method of fiat currency or crypto currency to trust.

[khaled0111]

You can convert it whenever you want.
If you are afraid because it take too long and don't want to be late when the prices rise and you find your self in a loss, simply convert it to USDT whenever suits you and you will be able to withdraw at any time with no problems.

[kofibee12]

It is possible to do that. USDT is used as a safe haven currency for many traders expecially day traders to keep their profit secured. If you are into daily trading and you want to lock your profit, it is prudent to use Tether.

[jseverson]

It seems Tether released evidence that they're actually fully backed:

https://uk.reuters.com/article/us-cryptocurrencies-tether/cryptocurrency-firm-tether-releases-law-firm-report-attesting-to-u-s-dollar-reserves-idUKKBN1JG1SB

But yeah, Tether was conceived for this purpose after all, and their only real drawback is lack of proof that they're backed fully. I personally would prefer just converting to fiat to be more liquid, but with this evidence in mind, Tether should be as good an option as any.

[AndyRock]

it can be a good idea if the market situation is good but there is no ensurity that tether will maintain the price and the process can be time consuming also. well ups and down is common thing in this market so it up to the holder who they want to deal with their bitcoin.

[Usafstar]

Yes if the prices rise then the value of our savings will also rise and we can buy things in much quantity if the value rises and in the future if the value rise then we can convert all our savings into different altcoins while some of the commodity too.

[wantjokull]

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.

I know this suggestion is good one but it always made me think why not convert the currencies to the fiat? I mean whats the difference between converting them to the Tether and a Dollar bill? Isn't converting them into the fiat also keeps the same value in terms of USD. I always do the conversion to the Fiat currency because unlike Tether there is full guarantee that you will have your 1000 dollars worth 1000 dollars after a period has surpassed. Also we minimise the risk that way and in case of Tether it could be the case that it may not stay worth dollar. Just thought.

[sandialoveth]

I think it is not a bad idea. You can sell it to tether as its price is same as dollar. Moreover, don’t regret because BTC price is unpredictable and no one knows when the market jump again. I hope that the market will recover soon within the end of this year.

[Msworld83]

You can use exchange , most of the exchange have the option of tether and USD so just find out which one you like and trade with btc/usdt or USD just as easy as that no other way than that except you have people in your area that need btc and paying in cash then you can have your funds at hand and save it to buy back when you think is best to.

[bct9t]

Well, I think that's a very good idea. you can invest on converting your Bitcoins to tether. tekla is nowadays a good option to invest in.

[rosstiller]

Currently all the coins are declining accept few coins and tether. Tether is going another way. Its kind of stable sometimes increasing a bit. So i personally think your idea a great Idea. Actually I think everyone is doing the same. They are converting all coin to tether thats why it is able to withstand current situation.

[kayakcrypto9875]

I think at this moment it is wise choice to convert coins into tether. Tether seems to follow the other way. Its feels good to know that there is some coin we can rely on in this situation of the market.

[elachious123]

It is really advisable especially when the price of bitcoin is continuously dropping the best option then is to convert it to Tether and buyer the Bitcoin back when price stabilizes.

[ishotasi]

wow wasn't expecting this much replies, thank you every one.
I guess I'm late into this... anyway looks like this is a normal practice and FUD about tether is wrong. Now I have to wait for ATH and god knows when it will come hehehe

[ishotasi]

Having hard time to belive tether will stay arround $1 for much longer. Better to FIAT usd than again buy low

I don't have any easy option to cash out to USD.... and for me Tether suits better... but I was skeptical about it before and never tried it.

[Herbert2020]

wow wasn't expecting this much replies, thank you every one.
I guess I'm late into this... anyway looks like this is a normal practice and FUD about tether is wrong. Now I have to wait for ATH and god knows when it will come hehehe

FUD about Tether was not completely wrong. there are some good points in there too, some real issues with Tether and the company. but the FUD added other stuff to both exaggerate it and create panic among investors to crash bitcoin price using that panic.
you still need to be cautious when using USDT since the fact that it is shady doesn't  change.

[Stark_Naked9]

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. If you have good market sentiment skill.
I do it all the time

[jaythelingly]

In market there are lots of coins are there but you need to choose the right coins among them based on this btc is giving good profits to their customers also this have good future value but this idea is really good for me I think this process will help you.