The World’s Most-Preferred Cryptocurrency Isn’t Bitcoin

[jayc89]

The volume is tether is very high because most peoples trades their cypto coins against USDT.
btc/usdt, eth/usdt, xrp/usdt, etc. that's why the volume of tether is very high, but it is a quite wrong to call it 'world most preferred coin' by the trading volume in coinmarketcap.

It is not going to affect Bitcoin. People don't want to pay for things that was built in thin air.

[rdewilde]

Although your points are somewhat correct but do you actually think without Bitcoin if Tether would be in existence. That's by the way, let's go practical, are all exchanges using Tether? The answer is no, some are using other stable coins. Also, how many exchanges can Tether be traded with virtually all coins? The answer is none, Tether trading is always limited might not even pass 20 coins. But coming in the case of Bitcoin, the reverse is the case, because Bitcoin can be traded against any coin listed on any exchange unless in rare cases, so with this, which coin is the most preferred and widely used? The answer is clear, Bitcoin.

[bitsurfer2014]

This development is just temporary because investors and traders are looking to protect their assets from bearish crypto markets and in turn used Tether as a tool for volatility protection, and as a result, Tether's volume went larger than Bitcoin's!
 
Lets just wait until these crypto uncertainties have subsided and the bulls began rallying together again, then we shall see the real "most preferred cryptcurrency" in cryptoverse! 

[Rampagoe004]

Even though the volume of tether is already high, but without bitcoin there is no price, everything that moves in the cryptocurrency world is very influential on bitcoin,for me bitcoin is still number one and very difficult to compete with,Exchanges that use tether are limited, so this is very different from bitcoin.

[DU18]

There is a truth in what you say because after I check, it turns out to be true if usdt has a large enough transaction volume and beats the number of bitcoin transactions, maybe this happens because usdt is an altcoin which has a stable price nature, so many people make transactions sell and buy usdt in exchange, but we know that if the risk of investing in stable altcoin will only get a small profit and is different as if we invest in bitcoin or other altcoin.

[Shepard777]

I read that TETHER is temporarily used among cryptocurrencies, since its rate is tied to fiat, everyone buys it on cryptocurrency market pullbacks, but when the era of paper money ends, it will become unnecessary and everyone will buy up bitcoin)

[Kezacky]

yes, as we know that coins are stable, the opportunity to get profits is very small, because the rise and fall of stable coin prices depend on the value of the dollar and differ from bitcoin and other altcoins they depend on demand and supply in the market. so in my opinion the cryptoqurrency most liked by many people is BITCOIN is not a stable coin.

[Faxmate]

I read that TETHER is temporarily used among cryptocurrencies, since its rate is tied to fiat, everyone buys it on cryptocurrency market pullbacks, but when the era of paper money ends, it will become unnecessary and everyone will buy up bitcoin)

No coin can take place of bitcoin. After all, bitcoin is the whole reason why we have the opportunity to invest in some other digital coin. I really don’t understand why it is difficult for investors of altcoins to accept that bitcoin is the top digital currency while they understand this fact very much. Also, anyone who would like to invest in something that can return huge profits in no time, he will choose bitcoin for sure.

[TaliskerDarkStorm]

People from world wide knows bitcoin. Most of the online businesses accept crypto only accept bitcoin hardly ETH or other old coins. USDT is not known worldwide at all. Take a look at a people near you to ask them if they heard about USDT at all ever.  They would have no idea about USDT but some may have heard about Bitcoin. It's Funny that people comparing bitcoin with USDT even the second most popular crypto ETH is ahead of USDT.

USDT is already known as a shady coin that can collapse anytime. The only reason they are still in the market because they are supported by some big crypto exchanges. USDT was created because of bitcoin. So it would be childish of us if we say USDT is better than Bitcoin. USDT isn't even trusted by the community reason we have some regulated USD token aka TUSD USDC etc.

Well-said. I mean all cryptocurrencies exist thanks to the Bitcoin. USDT is only the emergency escape ramp for all traders, all crypto enthusiast. I don't think USDT will be a major coin for adoption. I also do not support stable coins as well. They are just harming the blockchain and cryptocurrency prices. If stable coins did not exist Bitcoin price could be 50k-100k now. USDT only cause panic on the market, nothing more. I think all exchanges need to delete all of them. Because we are really don't need them in the first place.

[pawanjain]

Most preferred ?
Yes it is the most preferred when BTC is going down in price. Just sell the BTC and buy tether just to buy back the BTC when it starts to rise.
Although we don't know the time it bull/bear trend, I guess many people use USDT just so that they can trade with BTC at a later point in time.
I don't find any other usecase for tether hence making it least preferred for any other usecase.

[r32godzilla]

Oh my got, how can you compare something that is pegged to a dollar with real cryptocurrency? Of course that Tether has high trading volume because altcoins and BTC are traded in a pair with USDT. This makes trading volume so high, not that there is so much interest in Tether. 

[AzzAz]

I'd ask everyone: how much ( percent ) tether against all other crypto you hold ?
Me: 0

[lab rat hoax]

Of course, buying and selling transactions on usdt basis have an effect on the increase of tether volume. For example btc/usdt, eth/usdt, xrp/usdt trading pairs like theese. However, another important factor is that the person can be his or her bank with the tether. For example, some people put their money in a tether wallet instead of depositing it in a bank, because they don't trust banks. I think it is a really important factor