Is USDT trusted to use?

[Btcbeginners]

Currently, USDT daily trading volume is over the Bitcoin trading volume and fourth highest market cap according to Coinmarketcap. My opinion is We can't trust the centralized stable coin to keep the money. Also, news around the USDT is not good, and it may be shut down by the authorities.

What is your opinion about the USDT coin?

I use the DAI to keep the stable value & will shift to the SAI in the near future where the money I'm not investing.

[nreal]

For me in the cryptocurrency space, no money is 100% safe, so is USDT. Although since the USDT was created it has a lot of bad news but it is the most widely used stable currency, and for me USDT is just a currency to avoid volatility not to invest so I do not keep USDT long time.

[Pffrt]

You can trust USDT as much as you can trust fiat. Both are centralized. I wouldn't recommend anyone storing their money with USDT or any other stablecoin for a long time, they may vanish anytime. However, shurt term traders need stablecoin to fix the profit, you can use this stablecoin for very short time though.

[Kupid002]

Currently, USDT daily trading volume is over the Bitcoin trading volume and fourth highest market cap according to Coinmarketcap. My opinion is We can't trust the centralized stable coin to keep the money. Also, news around the USDT is not good, and it may be shut down by the authorities.

What is your opinion about the USDT coin?

I use the DAI to keep the stable value & will shift to the SAI in the near future where the money I'm not investing.

Many people using USDT just for easy trade crypto currency. Thats not the maincurrency its just an option alternative to fiat when you are trading. Because many people using it for trade it is realy possible to have a large volume daily even bitcoin has a pair in USDT.

Can we trust USDT ? yes, for now since they are no issue trading it as of now just dont use USDT as invesment you will not earn any holding it for long.

[Reid]

What is your opinion about the USDT coin?

I use the DAI to keep the stable value & will shift to the SAI in the near future where the money I'm not investing.

You already have the answer.

Currently, USDT daily trading volume is over the Bitcoin trading volume and fourth highest market cap according to Coinmarketcap. My opinion is We can't trust the centralized stable coin to keep the money. Also, news around the USDT is not good, and it may be shut down by the authorities.

You can't trust it. You should not keep your coins in an exchange. Better to just cash it out if you don't have the right means to keep it.
Or, you could just trade it to another coin and put it in a hard wallet.
That is all the options you could get to avoid a higher risk.

[big kid]

You can trust USDT as much as you can trust fiat. Both are centralized. I wouldn't recommend anyone storing their money with USDT or any other stablecoin for a long time, they may vanish anytime. However, shurt term traders need stablecoin to fix the profit, you can use this stablecoin for very short time though.

that's the right approach right here.
Unlike other cryptos usdt is centralized and can be blocked by any gov anytime basically.
But when you are trading it can come in handy for short term use.

Anyway I've seen a lot of controversial news about usdt throughout the time, but it seems like it won't go anywhere

[irixo10]

Currently, USDT daily trading volume is over the Bitcoin trading volume and fourth highest market cap according to Coinmarketcap. My opinion is We can't trust the centralized stable coin to keep the money. Also, news around the USDT is not good, and it may be shut down by the authorities.

What is your opinion about the USDT coin?

I use the DAI to keep the stable value & will shift to the SAI in the near future where the money I'm not investing.

USDT is seen just as an alternative when trading or when the market isn't going as anticipated, many don't hold USDT for long because it doesn't appreciate in value hence the reason mostly traders uses it. Also, since time past there have many news surrounding USDT and yet it keeps growing and people keeps using it the more, the question is why? I would say, because people have seen a level of trust (although centralized platforms are not to be trusted) within it hence ignoring all news and still using it. Also, as big as it is, I don't think it can be shut down easily.

[tsaroz]

There are accusations about whether they hold the equal number of USD as a backup or are generating more coins than they hold. Except for that they are one of the most popular stable coin. They are supported by almost all of popular exchanges and wallets. They still have both of TRX and ERC token on supply and should be quite cautious about sending them in or out.

[BlackFor3st]

Currently, USDT daily trading volume is over the Bitcoin trading volume and fourth highest market cap according to Coinmarketcap. My opinion is We can't trust the centralized stable coin to keep the money. Also, news around the USDT is not good, and it may be shut down by the authorities.

What is your opinion about the USDT coin?

I use the DAI to keep the stable value & will shift to the SAI in the near future where the money I'm not investing.

USDT has been around for almost six years already and it is in a good rank base on coinmarketcap so for me I can trust this currency to convert any of my assets especially if the market will likely to go down pretty bad. Putting our assets in stable coin is the best option to make sure that our money is safe from losing it's value and we can just buy back any currency that we like if we feel that it is a good time to buy.

Do you have any legit information about your allegation that it will be shutdown by the authorities so we can also check whether it is genuine or only a fake news to bring down USDT. Because it is a big problem if your allegation is correct because as you can see there are 6,361,032,509 circulating supply of this currency and it will be a big loss of money if this currency will shut down.

[mersal]

Currently, USDT daily trading volume is over the Bitcoin trading volume and fourth highest market cap according to Coinmarketcap. My opinion is We can't trust the centralized stable coin to keep the money. Also, news around the USDT is not good, and it may be shut down by the authorities.

What is your opinion about the USDT coin?

I use the DAI to keep the stable value & will shift to the SAI in the near future where the money I'm not investing.

Not 100% trusted because USDT can be froze by the authority even if it is in your wallet so you shouldn't trust the stable coins for long term.Still there is a reason why the trading volume is more than bitcoin because it is used by most of the traders to make profits from the market movement because it is easier for them to trade with a stale coin pair over to volatile coins.

[Febo]

Currently, USDT daily trading volume is over the Bitcoin trading volume and fourth highest market cap according to Coinmarketcap. My opinion is We can't trust the centralized stable coin to keep the money. Also, news around the USDT is not good, and it may be shut down by the authorities.

What is your opinion about the USDT coin?

I use the DAI to keep the stable value & will shift to the SAI in the near future where the money I'm not investing.

If authorities will close USDT they will for sure give you the USD backing token. I doubt they will try to steal you. But yes any centralised token can get closed. And also tokens that are backed by something physical, like fiat or gold or property or car or whatever can be robbed. That item can be stolen and then that token is not backed by anything yet. Safest use case of tokens is to secure digital asset not physical.

[thisnewcoin]

USDT has many suspicious attempts but yet traders are not stopped using it. Many stable coins came in the crypto market within two years, but no one could beat the popularity of USDT! People were saying USDT is not safe since it's beginning, but as you can see it's always increasing! So, I think USDT is not that bad to untrust it, DAI is good, but USDT is better! But don't hold your money in USDT for a long time, for that purpose USDC would be better!

[sheenshane]

This is already discussed on this thread.
USDT isn't safe at all to hold because it is not fully back by fiat or other local currency. I won't recommend this to hold because you will not earn this stable coin.

Long term holding on USDT is not recommended but this is very helpful to the traders it gives the real value of dollar currency.
Yes, you can trust this in a short period of time.

[thisnewcoin]

for me USDT is just a currency to avoid volatility not to invest so I do not keep USDT long time.

Exactly! Stable coins are not for investment, it is to protect your cryptocurrencies from a high dump! If someone wants to store their money for a long time, I won't recommend any stable coins instead of ETH, BTC, XRP, BNB! DAI is decentralized but yet I can't believe it for a long time, because it is yet to gain enough trust from every big crypto exchange!

[mahilchii]

Definitely USDT is very helpful in tough situations because market can go down anytime, if this happens we can just transfer our coins to USDT where we do have only option to save from huge losses. And obviously we can trust USDT Even I do transfer my assets to USDT in tough situations which is very useful.

[Crypto_lion]

I know that USDT is supposed to be a stable coin which continues to equal to one US dollar what ever the price of Bitcoin is . But I have also read some reports that they continued to print unlimited amount of USDT during the bull run in 2017 so that can reap in the rewards . So be careful . Crypto is still crypto.

[Cnut237]

news around the USDT is not good, and it may be shut down by the authorities.

This has been the case forever. There is and always has been controversy over Tether and whether it is actually properly backed, amongst other things. I don't think it will suddenly vanish or deviate substantially from the peg.

I use the DAI to keep the stable value & will shift to the SAI in the near future where the money I'm not investing.

Other stablecoins are probably just as good as USDT, or maybe better. But if you are using it for trading, you want a high volume market where there is not a huge gulf between sell and buy orders. The gap is a built-in loss that you have to beat in order to profit from a trade. The smaller the gap, the less you have to overcome. USDT markets are often high volume. Choice of exchange is also important here, obviously.

I would say USDT is fine to use short term, but as others have said, don't keep money in it (or on exchanges) long-term.

[Retainly_Collie]

USDT is like USD, so you can trust and hold it whenever the market collapses. Over the years USDT has had a lot of FUD but it does not cause USDT to die, even it helps USDT grow every day.

[tbterryboy]

To "use" tether, you do not need to trust it. So, you may make use of it for your trading like for locking profits from cryptos and to buy back cryptos. But, never ever plan up to use tethers for long term holding. Because, tether is issued by some company and they may face legal problems at any times. Still, as of now it is proven that tether is safe to use.

I am using usdt while I am selling my bitcoins in P2P platform. The maximum holding period of usdt is 1 hour to 3 hours so I guess I am making use of tether in safer mode.

[0verseer]

For me in the cryptocurrency space, no money is 100% safe, so is USDT. Although since the USDT was created it has a lot of bad news but it is the most widely used stable currency, and for me USDT is just a currency to avoid volatility not to invest so I do not keep USDT long time.

#2 best post. Yes, there is nothing safe in cryptocurrency, that include USDT or so-called stable currency.
Use USDT as short term hold, cash out, trading pair,... and never think it's safe. Only cash in your hand is the ultimate.