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poodle63
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January 16, 2021, 12:21:54 AM |
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I would not completely trust USDT, because they are not backed by anything. The DAI project is covered in real dollars. Trust in USDT is gaining popularity in the crypto community and over time it will become a postulate. So far, users have in their portfolio a set of different stablecoins.
That is my opinion on this matter also. I have the feeling that USDT is not totally backed with US dollars. When they admitted before that they are not fully backed, I have the feeling, that they are not always saying the absolute truth about their assets. So just be careful holding long term this stable coin. Their asset could possibly be diversified to various investment which might equates to the total supply of USDT but that's still kinda hard to believe. I mean, a company could grow their asset into this much of an amount $24 billion dollars within very short amount of time (half decade) is really crazy, If they don't got money from investment then I'd really feel suspicious about them. Still, I use it although only temporarily, holding money in form of USDT too long kinda feels uneasy. |
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lankymanx
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Activity: 84
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January 16, 2021, 01:28:27 AM |
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Why is USDT used mostly over the other guys like USCD ?
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shinratensei_
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Leading Crypto Sports Betting & Casino Platform
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January 16, 2021, 02:04:00 AM |
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I would not completely trust USDT, because they are not backed by anything. The DAI project is covered in real dollars. Trust in USDT is gaining popularity in the crypto community and over time it will become a postulate. So far, users have in their portfolio a set of different stablecoins.
That is my opinion on this matter also. I have the feeling that USDT is not totally backed with US dollars. When they admitted before that they are not fully backed, I have the feeling, that they are not always saying the absolute truth about their assets. So just be careful holding long term this stable coin. It's clearly stated by the company itself if they are not 100% backed by the USD. https://www.coindesk.com/tether-says-its-usdt-stablecoin-may-not-be-backed-by-fiat-aloneSee? 20 billions USD is a lot of money. I never believe if this company has the fiat currency worth 20 billion USD to backed the stable coin. Im still actively using tether caused by it gives me some options to avoid the high fees. |
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olabiyijummy02
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Activity: 239
Merit: 17
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March 04, 2021, 11:28:41 PM |
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USDT is a steady coin and it's something one can have and fail to remember it for quite a long time actually return and meet it same path absent a lot of frenzy, usdt is the most and more believed coin to utilize also it's a steady coin so not a coin one ought to be terrified of. I could recollect when market went down including usdt yet usdt difficult to get back to its typical rate while others proved unable.
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Dutchyyy
Legendary
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Activity: 1197
Merit: 1001
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March 05, 2021, 06:54:03 PM |
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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.
According to Tether's website, the stable USDT coin is 100% backed by a reserve of US dollars and other assets, including "traditional currency and cash equivalents and, from time to time ... other assets and receivables." If so, I don't think there should be any problems with the stability of the coin and we should have any concerns about it. |
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uray
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March 05, 2021, 08:05:44 PM |
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That is my opinion on this matter also. I have the feeling that USDT is not totally backed with US dollars. When they admitted before that they are not fully backed, I have the feeling, that they are not always saying the absolute truth about their assets. So just be careful holding long term this stable coin. We are hearing the complaints for a long time and even during the last rally there were doubts raised about the number of coins they mint every week and there was no clarity on their backing and the details and then the truth was revealed later that they are not backing the entire coins with dollar but with assets equivalent as well and till now we have no idea what these equivalent asset class is, so it is better to stay away from them. |
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guydin
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Activity: 686
Merit: 103
www.fintropy.io
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March 07, 2021, 05:28:38 PM |
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Tether is the largest stablecoin in the cryptoeconomy. But at the same time, it is one of the most controversial projects around which there are always a lot of rumors, gossip and disagreements. Despite USDT remains one of the most popular stable coin! Many people trust Tether due to the lack of any other more profitable solutions.
But now I'm seeing people start switching to BUSD. Although no one will give an exact guarantee of safety. But be that as it may, keeping funds in electronic dollars is not a bad idea.
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Rana590
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March 07, 2021, 05:47:50 PM |
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I don't think why people are hesitating to use USDT where it is one of the best stable coin. It has different platform. User can use on his sweet well. It is 100% trusted, popular and anyone can use it without any hesitation.
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Ibrahim60
Full Member
Offline
Activity: 1176
Merit: 100
The OGz Club
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March 07, 2021, 06:09:28 PM |
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Now a days usdt is the most uses coin. So many people use it. It is the best stable coin, personally i think so. This is more trusted than other stable coin. Transaction fee relatively low. Without any hesitation use it.
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carrie_white
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March 08, 2021, 05:03:28 AM |
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Of course nothing is 100% safe in the crypto world, but from my experience USDT is very trustworthy, because I myself have transacted very often using USDT even I don't hesitate to just keep my assets in USDT, because USDT is a stablecoin, so you don't need to be afraid. if the coin will go down
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aryana42
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March 08, 2021, 06:05:53 AM |
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I know that USDT isn't 100% backed and can't be used as a long-term store of value. I keep some USDT on my OWNR to use it for buying alts during bear markets, it's easier than buying crypto with a card.
Most people keep USDT in their own wallets for capital preparation during the bear market, so if you say USDT is not 100% supported and cannot be used as a long-term store of value, this is a little wrong in my opinion, indeed the USDT value often changes in price ends, but the bottom line will never go away, so USDT is still a very good place to use when it comes to storing long-term value. |
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ShowOff
Legendary
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Activity: 2590
Merit: 1179
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March 08, 2021, 06:21:15 AM |
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Most people keep USDT in their own wallets for capital preparation during the bear market, so if you say USDT is not 100% supported and cannot be used as a long-term store of value, this is a little wrong in my opinion, indeed the USDT value often changes in price ends, but the bottom line will never go away, so USDT is still a very good place to use when it comes to storing long-term value.
Of course, but only if you never know about the case that the USDT has faced so far. For some people don't trust USDT to be a store of value for the long term, but USDT is only used as a trading pair. For those using a fiat-enabled Exchange, then the best option is to keep it in fiat while waiting for the market to correct. |
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Altcoinsintel
Member
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Activity: 342
Merit: 24
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March 08, 2021, 12:39:32 PM |
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What is your opinion about the USDT coin?
Not the best one. I wouldn't hold USDT instead of USD if this is what you are asking and I don't plan on holding any USDT. Besides from being a centralized token in various networks, that prints, or mints if you want it, new tokens at will any day they like and somehow managed to hold the price at $1 in exchanges using some kind of algorithm probably, it also has so many troubles and accusations that make it unprefered as for anything to do with it. I wouldn't use USDT but only for trading at an exchange and I wouldn't hold USDT too much. In fact, all the stablecoins have a limited time before they burst and bottom at zero. Maybe DAI could have a system with validated collaterals so it could be more stable for the long term. It needs some more time though and tested in more difficult times with higher volumes. |
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Handsome Boy
Copper Member
Member
Offline
Activity: 812
Merit: 12
I ❤ ₿itcoin and Ethereum
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March 08, 2021, 01:25:41 PM |
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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.
In my opinion USDT is still safe to use, because the volume of USDT is still very high and this proves if there are still many people who believe to using USDT, so you don't need to be afraid to use USDT, although there is a lot of bad news about USDT, but USDT is still popular and that makes me believe if USDT is still safe to use until now. |
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Cornia
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March 08, 2021, 01:35:55 PM |
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What is your opinion about the USDT coin?
I trust USDT more than other stable coin. I always convert my asset to USDT and store it. Because if the market crashes at any time, I don't have to suffer a big loss. Also the transaction fee of TRC20 supported USDT is much less and even free withdrawals can be made from some exchanges like Binance, Kucoin etc. |
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