Is USDT trusted to use?

[umbara ardian]

USDT is the leading stablecoin in this market, and its 24h volume is even higher than bitcoin. So why do you doubt it? If you don't trust USDT, I think you shouldn't trust any other project, even bitcoin. You should leave this market as soon as possible if you dont trust this market

[slackovic]

USDT is the leading stablecoin in this market, and its 24h volume is even higher than bitcoin. So why do you doubt it? If you don't trust USDT, I think you shouldn't trust any other project, even bitcoin. You should leave this market as soon as possible if you dont trust this market

Well, actually, crypto should be a trustless system so users shouldn't have to trust no one. When you have a centralized crypto project (like Tether), then users must trust the team behind the project. That trust is (at least for me) broken for Tether. True, all stablecoin pairs have the best volume with Tether, but I would never leave my money in Tether for the long period.

I trust USDC and I use it as my favorite stablecoin. True, it is another centralized system, but they have monthly audits that show that they really have $ in the amount of USDC.

[Denongels]

Hard to believe because in the past tether was indirectly involved in bitcoin price manipulation in 2017 conducted by bitfinex and because of this I think there is a slight flaw in tether, but this stablecoin has the most exchange compared to the others and also this stablecoin network hast two models (ethereum and omnichain). but unfortunate for omni the fee is quite expensive, and my personal opinion if you use this stablecoin should never be used to be stored as a long-term asset and it's better to choose another stablecoin like DAI.

[Alvi69]

Yes it is trusted because here is in every exchange you have one confirm trade pair BTC-USDT as we are comparing bitcoin against usdt so this is not a risky option to be in usdt.

[Kong Hey Pakboy]

In my own opinion, USDT is really safe and trusted because it is one of the best stable coins and it's 24 h volume is also high like other top coins. USDT is also being used as a safe asset because when we are experiencing a bear market some people convert their coins to USDT for them to avoid huge losses.

[DarkDays]

I personally stay well away from Tether. I read that their last audit showed that they are only 76% backed by USD, which basically means they are operating a fractional reserve.

The entire purpose of Tether is to be redeemable against the USD whenever the customer wants. If everybody to decide to do a tether run (like a bank run), then 24% of the money would be unavailable.

That's why I stick with Gemini dollar and TUSD now, they're far more transparent than USDT.

[ScamViruS]

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 a stablecoin. Which traders use when they trade. USDT claims 1 usdt backed by 1 USD. But reality is something shady. No one knows exactly how much usdt's original supply is. They everyday print usdt as much as they want. I certainly wouldn't tell anyone to use usdt. It's hard to believe those who keep everyone in the dark.

remember at one point USDT team admitted that they are not 100% backed by US$..i think up until now they are still not saying the absolute truth regarding their reserves..so holding it long term is really a no no...youll never know whats gonna happen once one of their team members decides to quit or run away..

Yeah. This is a hidden secret. Usdt never gives any information about their reserves. No one knows how they add new supplies. If you look at their current marketcap you will see that a large amount of usdt has been printed in these days! Why add so much usdt? Who bought these? None of us know the real truth. So this is a risky asset, for  long-term hold.

[Furryball]

Judging by adoption rate and usability with volume yes USDT is one of the most favourite stable coins in crypto space, but there are few better stable coins like DAI and BUSD or USDC, they are just better

[minairia3]

Yes it is trusted because here is in every exchange you have one confirm trade pair BTC-USDT as we are comparing bitcoin against usdt so this is not a risky option to be in usdt.

Youre looking on the outside matter of it. Of course it may be looking that USDT backed by US since its has been on every exchange but as others are mentioned even them themselves arent sure that they are. What does it mean? It seems they only relying on their firm to prove this back up thing but the truth is once this shutdown every market and crypto pair will be paralyzed. Remember it is owned privately and we dont know until when they can hold some losses sometime. There is no insurance even with tether.

[bluebit25]

Judging by adoption rate and usability with volume yes USDT is one of the most favourite stable coins in crypto space, but there are few better stable coins like DAI and BUSD or USDC, they are just better

DAI, BUSD, USDC... They are stablecoins created after USDT, and their volume is not so much so you can not comment like that. USDT is still the leading stablecoin in this market and no one will ever surpass it

[Lordshiva]

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.

Yes you can not invest on USDT in a hope it will grow overnight....it is the most stable crypto till now..no volatility at all and if some one wants to hold crypto without any kind of risk...it is the best goo

[mindrust]

It is not safe indeed. Use it only temporarily and if you have no other choice. I wouldn't touch that crap with a 10 ft pole though. USDT in curculation is over 6billion USD and that's nuts. That's crazy. It is a timed bomb.

Stay the fuck away. It is a major scam.

[mongkie]

you beed to trust USDT as you trust other cryptocurrency because its just a representation of the fiat money. i use it to exit on the market when its bleeding and just go back to btc and alts once market is good.

[dady12]

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.

Yes you can not invest on USDT in a hope it will grow overnight....it is the most stable crypto till now..no volatility at all and if some one wants to hold crypto without any kind of risk...it is the best goo

but technically it is not true - the usd itself is not stable so USDT won't be stable too.
In reality it is quite stable and safe (in terms of losing you funds due to quick price drop).
There are a lot of rumors around tether in general, however I haven't seen anyone getting literally scammed by tether

[thisnewcoin]

Judging by adoption rate and usability with volume yes USDT is one of the most favourite stable coins in crypto space, but there are few better stable coins like DAI and BUSD or USDC, they are just better

DAI, BUSD, USDC... They are stablecoins created after USDT, and their volume is not so much so you can not comment like that. USDT is still the leading stablecoin in this market and no one will ever surpass it

Though USDT has greater volume but considering the reputation I think he was right! USDC is better than USDT, even BUSD is doing good too! BUSD will have real-life use cases very soon, I read some articles about it! Though I am confused about DAI, once it looked great to me, but now I don't feel positive enough to store my coin in DAI!

[jrrsparkles]

Everyone who uses stable coin need to have a look at this thread Most Stablecoins Can Be Frozen, Even When in Your Own Wallets

So its more likely you are trusting your banks when you are dealing with such stable coins,so be aware of the consequences and hold the decentralized one.

[Alohadanc3]

At this moment usdt is the most used and most popular stable coin available in the market. Almost every exchanges have usdt pair also. I know there is many rumors regardig usdt. But still it most of the people using it. It's fine. If you don't have trust on usdt then use more than one stable coin. In this market a lots of stable coin available. Divide your asset and hold on every stable coin. That's it.

[jahepahit]

because the economy is experiencing a big shock right now, people prefer usdt as the alternative that exists at the moment. of course through these circumstances the users choose USDT coins as the right choice

[mahibul49]

yes it is!in my opinion USDT is safe and it is very important stable coin for the crypto ecosystemi personally use USDT but i will suggest you do your own research

[jaywizzy]

Yes! USDT is save due to the fact that it can retain is value  in most cases unlike others coins which are use for trading  that can  depreciate in value at any point in time.