Do you trust USDT?

[Untomabur]

I have long believed in USDT, both for trading and for saving money, there is no problem with USDT,
all exchanges also use it, what should be feared?

[jrrsparkles]

I have long believed in USDT, both for trading and for saving money, there is no problem with USDT,
all exchanges also use it, what should be feared?

Saving money in USDT? Even if it is perfectly backed up by USD in 1:1 ratio still the value losses due to inflation and in the recent days USDT is printing more and more money which makes them to reach high position on daily trading volume even higher than bitcoin but it is not really a good thing for a stable coin, the trust on tether can get broken at any time so you are in risk while holding it.

[bukham88]

USDT price movements are very stable compared to other altcoins, however, USDT prices are also influenced by market demand, where prices can drop at any time.

[WSDN]

I have long believed in USDT, both for trading and for saving money, there is no problem with USDT,
all exchanges also use it, what should be feared?

I agree with you. There is nothing to be afraid of holding USDT because generally all exchanges in this market use it, and if they want to switch to fiat, investors will use USDT more. Besides, USDT is supported on a variety of platforms, so any investor can be sure to trade easily and without any problems. You can also use USDC or TUSD because these two stable coins are no different USDT.

[memed97]

USDT price movements are very stable compared to other altcoins, however, USDT prices are also influenced by market demand, where prices can drop at any time.

Don't make useless jokes here, USDT is a stable token whose base price follows the dollar price in general, and it would be very wrong to compare USDT with other Altcoins which are not supported by any country's currency. The price of a token is influenced by the amount of demand on the market, but for USDT tokens the effect is on the price of the currency significantly, different from other tokens whose effect is on the volume of demand in the market.

[IvugeoEvolutionCoin]

I have long believed in USDT, both for trading and for saving money, there is no problem with USDT,
all exchanges also use it, what should be feared?

I really do not know why many keep being skeptical about USDT, probably because SEC keeps dragging Bitfinex / Tether on several occasions which always make the news. As for me, I'm very comfortable keeping funds in USDT, especially when the market is about to go on a downtrend from my TA.

[JHORN]

I don't believe that usdt is a scam, centralized stablecoin isn't a scam, they can be controlled or manipulated but people who are into criminal acts will definitely go against this stable coin because funds can be freezed or reclaim, if you are clean you have nothing to worry about

[klavyemaus52]

USD Tether is a Bitfinex issued ERC-20 token which is claimed to be backed by dollar at 1:1 ratio. There are controversial opinions about this and some say it's a scam.

Do you trust USDT or believe it might be a scam?

I don't know how its work a lot but in bittrex we have both ''USDT'' and ''USD''.
At this point im always using normal usd because as u say usdt is in someones control.
Of course usd is not best way to hold your money you just can't trust anything in this exchanges. Its really hard.
And im just selling bitcoin to usd and usd to bitcoin altcoins are too risky right now.

[qwizzie]

Tether freezes 7.9 Million USDT
https://hive.blog/hive-167922/@themarkymark/tether-freezes-7-9-million-usdt

Did you know Tether can freeze your wallet address?

Over 7.9M USDT has been frozen by Bitfinex as requested by law enforcement.

"Turns out 39 addresses have been banned from using USDT on Ethereum as of now."
- Philippe Castonguay

No, i don't trust Tether.
It is not trustless.

[CuriousGeorge]

I have long believed in USDT, both for trading and for saving money, there is no problem with USDT,
all exchanges also use it, what should be feared?

I have been using USDT since 2018 and everything is fine. Maybe some people feel doubt caused by the ability that owned by the creator of USDT to block the wallet.
As long as the your capital is not coming from the criminal act and everything will be fine.

[BeginToMine]

I don't think there's anythink wrong with USDT. To me it's most trusted and I have been using it since I joined Blockchain without issue. I do tag it same today and forever. Tether to me is the best and may not really disapppoint anyone. I trust tether for now. When other coins are messing up including BTC, usdt is usually the last hope.

[3meek]

Almost all exchanges support USDT, and it seems to me quite enough to trust it! Especially, as we have already written here, USDT are released not only in the ERC-20 network, but also in OMNI and TRX...

By the way, in March 2019 Tether stated that USDT is not secured dollars 1:1...

[FanEagle]

I do not trust them at all, why would I trust a centralized one? There is no way I would trust a centralized currency and would stay away from it as long as I can. Of course I do have a bit but very very tiny amount and if they are all gone, I wouldn't be upset about it.

I would say it is quite important to know that USDT has been printed by a company that is in a foreign nation with lax rules and that means they could print out 1 trillion dollars in USDT and sell it to you all and as long as people do not ask for their money back all at the same time they would have enough money to give it all back to you. They are not even showing this as a business to pay taxes, bank and government allows them to keep their money in their bank so that they would have billions in their bank account and by logic in the bank.

[Chuky92]

On one hand I use USDT just to achieve something within a stipulated amount of time which must be very short while on the other hand, I don't trust it. In fact I do not trust all these stablecoins which are centralized because most of their activities are questionable just as people having different opinions and some saying USDT is scam, which might be from what they have experienced. Also, in my own opinion, I do not think it makes sense holding USDT for a very long time when taking into account the creators can do anything they want because it is centralized and also USDT being a stablecoin do not increase in value.

[suryapro]

Surely I trust USDT, price always stable, I can trade in almost all exchanges, no fear of price going down, USDT is the only coin I can hold for a long time with zero doubt of losing my fund. So I believe everybody should atleast trust USDT.

[pixie85]

Almost all exchanges support USDT, and it seems to me quite enough to trust it! Especially, as we have already written here, USDT are released not only in the ERC-20 network, but also in OMNI and TRX...

By the way, in March 2019 Tether stated that USDT is not secured dollars 1:1...

Does it mean that for you a coin that is accepted on many exchanges cannot be a scam?

Even is USDt was not a scam does acceptance have anything to do with safety? You are exchanging your dollars into a centralized coin that tells everyone it's backed 1:1 when it is not. How does it make it trusted?

[vermigerous]

Usdt is a good and stable coin for me, a coin that can be say a dollar price. And i yhink it doesn't go as a scam. Many inveatora would tend to convert their assets to usdt when market becomes low. So i think it ia not scam since the price hasn't got lower it's gap for a dollar price.

[TEX-LXRY]

Right now USDT is the most stable coin just like USDC from coinsbase.

People keep their money in USDT as assets, Its like a savings money.

TEX-LXRY

[rexxarofmoknathal]

USD Tether is a Bitfinex issued ERC-20 token which is claimed to be backed by dollar at 1:1 ratio. There are controversial opinions about this and some say it's a scam.

Do you trust USDT or believe it might be a scam?

I'd say yes and no. At the moment, I'm not leaning towards negativism as I've dealt with them and I can't say I can complain. However, their accusations have increased lately and going forward I think given that this platform is 100% centralised it is best to be cautious like with any other centralised platform.

[lienfaye]

We cant trust USDT 100% even its backed by dollars because many things can happen that it can turn it to scam depending on the people behind it.

Nevertheless USDT is good for storing our profit when there's a market correction so it depends on the investor if he/she will completely think its trustworthy.