Is USDT trusted to use?

[mr.robot8]

usdt is the most used stable coin, some rumors however say that there are not enough funds to transform(backed) all the existing usdt in fiat/usd but this does not matter because they are the most used by the exchanges and are used to exit from day trading and then to return and not to transform them in fiat, if we really don't trust there are many other valid alternatives among stable coins

[Alohadanc3]

For me it's fully trusted. I didn't see any point not to trust usdt. I am using it for a long time. I know in this market there are lots of stable coin available. But usdt has the most volume. Cause people use it and trust it. There are many rumors among usdt but I never faced a single problem. If you don't trust it then I would say pick other stable coin. Or divide your asset to 3-4 asset.

[3meek]

Trust is a relative term. My trust to USDT is an inverse dependence on BTC price. When the latter is high I tend to move all funds to BTC and vice versa as such action makes my money  less vulnerable to market and the management of my crypto-portfolio  more efficient.

That means you trust USDT... After all, you wouldn't sell BTC for USDT...

I use USDT a lot too and have no problems!
Actually, if Tether goes down, the whole cryptocurrency will go down!

Tether has been talked about negatively for years, and it's still stable!

[hiburak]

USDT is definitely not a safe stablecoin to hold and you shouldn't plan to hold USDT for a longer time like several months.

However, USDT also has a lot of liquidity at the same time. If you a short term trader,  I don't think using USDT will be a big problem.

[mindrust]

USDT is definitely not a safe stablecoin to hold and you shouldn't plan to hold USDT for a longer time like several months.

However, USDT also has a lot of liquidity at the same time. If you a short term trader,  I don't think using USDT will be a big problem.

USDT has liquidity against what? BTC? That doesn't mean anything because bfinex can print and create as much liquidity as they want.

The real question is, does it have any real liquidity against real hard USD? Don't think so.

[Chuky92]

Truthfully we can't trust centralized platforms in the crypto space when it comes to keeping funds but in this case, USDT have been around for a long time now, hence its value and potential took it to the position it is now on coinmarketcap. Therefore in my own opinion, irrespective of the news about it, it is still growing therefore I will continue using it as there have been no issue with it ever since. But when it comes to holding long term I prefer other trustworthy coins like BTC.

[shadowdio]

Well I don't use USDT just for storing funds not because centralized I prefer to store in my local digital money. USDT is useful for me like when the price of crypto is getting down then i convert it into USDT so that i will not losing more money.

[Synaesthesia]

USDT is definitely not a safe stablecoin to hold and you shouldn't plan to hold USDT for a longer time like several months.

However, USDT also has a lot of liquidity at the same time. If you a short term trader,  I don't think using USDT will be a big problem.

There was no problem with USDT, and this is still the best stable coin in this market, and USDT liquidity has always been at the top. I think investors do not need to choose other stable coins because it only makes you more tired because for me, USDT is okay. Of course, this is just my personal opinion and depends on each person's choice.

[shoreno]

USDT is definitely not a safe stablecoin to hold and you shouldn't plan to hold USDT for a longer time like several months.

However, USDT also has a lot of liquidity at the same time. If you a short term trader,  I don't think using USDT will be a big problem.

There was no problem with USDT, and this is still the best stable coin in this market, and USDT liquidity has always been at the top. I think investors do not need to choose other stable coins because it only makes you more tired because for me, USDT is okay. Of course, this is just my personal opinion and depends on each person's choice.

yeah . it makes no sense to choose because all stable coins have same value anyway but only name changed however usdt is the most popular so why not choose other else ?

dunno why the other user said that usdt is risky when the value is not volatile at all but even coins that are volatile like btc for example is still safe compare other because of its age and background .  but i think all still depend on the people if they will continue to use cryptos or not .

[Pirate46Mx]

every cryptocurrency there will be price changes because the movement is determined by supply and demand, so that the USDT will also experience price fluctuations, so there is no safe investment in crypto.

[tbterryboy]

I wouldn't trust it myself, many many people trust it and it has over 3 billion dollars in valuation so maybe I am wrong. Think of it this way, there is a stable currency that will not move in value, you are going to own what you own and that's it, nothing more nothing less, so there is no risk involved. You can use it to buy, sell, send, receive any way you want and its pegged to worlds strongest currency. You can trade it because it has as many pairs as bitcoin nowadays. Those are all great parts.

The bad part is, its owned by people, its controlled by people, its just bunch of humans who have the total power over all of it. That doesn't mean they are bad people, I don't know them, I don't even know who they are. But I am just not willing to risk it.

[Marble777]

for me personally trust a stable coin or USDT only as a means of exchange and not use it for investment. I think everyone will say the same thing that stable coins are better used as needed and not for long-term investments.

[Smitty Werben Man Jensen]

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 volume is high because traders and investors trust it and of course USDT is very safe,
I cannot prohibit you, but USDT is better than DAI, USDT has also become a pair of all exchanges

[barlo357]

I just use USDT when trading coins that doesn't have a trading pair. It is just like a moment when I buy and sell if for the coin I really want. When it goes on trust issues, I think it is safe and trusted since it is a centralized coin and if you want to keep some coins for future trades, it is better to keep it in that form.

[Shallow]

I don't know about you but I don't use USDT to keep funds, I only use it when the need arises not that I hold it for long, therefore since am not holding for long because it doesn't appreciate in value, then I don't bother much. Also, till date I think people have find it better dealing with USDT more than other stablecoins, the daily trading volume alone proves that, therefore with this daily volume amongst other reasons, I think it can be trusted. Lastly many people have their preferences when it comes to stablecoins for me, it is USDT.

[Alohadanc3]

For me usdt just works fine. And I fully trust this coin. Usdt is the most used and most popular stable coin available in this market. Cause people trade this coin most and people trust it. I know there is some fud about usdt. But I never faced any kind of scam or problem regarding usdt. Now it's your choice caus in this market there are a lots of stable coin available. You can go with them too.

[mt55]

At the end of the day tether will still exists and remain at $1 even if it is a fractional reserve rather than 1:1 . Heck the money in our banks are fractional reserves too but that does not stop everyone from mass panicking and withdrawing.

[rexxarofmoknathal]

At the end of the day tether will still exists and remain at $1 even if it is a fractional reserve rather than 1:1 . Heck the money in our banks are fractional reserves too but that does not stop everyone from mass panicking and withdrawing.

I think @mt55 is making a fair point. In real practice nothing is can be trusted even if its legitimacy stands momentarily but because there are no or very few options left people still rely on them because that's the best there is. However, one would be wrong to think that there are 100% no drawbacks, hacking nowadays can bring companies to its brinks within matter of seconds. So it is best to remain skeptical and vigilant at all times as things can change very quickly.

[tvplus006]

I think the USDT daily trading volume will always be the highest in the market,
it is because most peoples usually trading all kind of crypto coins with USDT pair, causing the volume of USDT is highest among the others.
I don't think they can easily shut down USDT coin because many peoples already used it.

Given that there is a very large number of different stablecoins on the market now, they should redistribute the volume of trading in USDT in their favor. But I do not have 100% confidence in any stablecoin, although I have to use them in trading.

[mindrust]

At the end of the day tether will still exists and remain at $1 even if it is a fractional reserve rather than 1:1 . Heck the money in our banks are fractional reserves too but that does not stop everyone from mass panicking and withdrawing.

Tether acts like bank indeed but where is their banking license?

Tether is not a bank and they have no right to print USD because they ain't the FED neither.

It is a major scam no matter how you look at it.