Tether the Best Stable Coin

[Jackl87]

Like others in here already mentioned, we can not be quite sure that every USDT that is minted is backed by a real USD anymore.
In 2019 they said they have enough reserves to cover all the Tethers printed but they didn't show any proof for that.
USDC on the other hand is part of a big exchange and therefore gets audited and checked regularly and you can feel more secure about it in my opinion.

[Hasan986]

I also use Tether. Sometimes a case was filed in its name. I was afraid of what would happen next. But I saw that Tether won the case. It transfers very quickly from all other stable coins and the fee is much lower.

[Handsome Boy]

Personally, I don't use stablecoins, just to collect profits from trading before investing them again in crypto... so one is as good as the other and usually chosen USDT because it is the most widespread.

I agree with you, USDT is the best choice because of its high volume and the most widespread, so you can transfer your money on an exchange to another exchange very easily and fast using USDT, then of course the cost is also very cheap if you transfer USDT using USDT TRC20 (blockchain from Tron) and the amount you transfer will remain stable (not increase or decrease, because USDT is a stable coin).

[kevinzxz]

Know that tether is now beyond bitcoin omini layer, tether is now also built on some other blockchains such as:

1. Omini layer that you mentioned, bitcoin blockchain
2. On ethereum blockchain, ERC2
3. On Tron blockchain, TRC20
4. Solana also support tether recently.

But there are many other good stable coins, and there are many better ones to come.

1. Dai
2. USDC
3. TUSD

And some others are safe to use also.

yes, one of them is BUSD, indeed for now BUSD can only be used on Binance exchange, but in my opinion BUSD is also very safe to use if you trading on Binance exchange, because BUSD has a very high volume on Binance exchange, but indeed by using BUSD then you can only use it on Binance exchange and cannot be used on any exchange, so if you are only trading on Binance exchange then I would prefer you to use BUSD, but if you are trading on any exchange then I would prefer you to use USDT, because USDT can be used on any exchange.

[TimeTeller]

Personally, I don't use stablecoins, just to collect profits from trading before investing them again in crypto... so one is as good as the other and usually chosen USDT because it is the most widespread.

I agree with you, USDT is the best choice because of its high volume and the most widespread, so you can transfer your money on an exchange to another exchange very easily and fast using USDT, then of course the cost is also very cheap if you transfer USDT using USDT TRC20 (blockchain from Tron) and the amount you transfer will remain stable (not increase or decrease, because USDT is a stable coin).

Maybe for transfer or trading purposes, USDT is good.
But for long term holding, I am not confident on this stable coin.
As their actual assets is somewhat questionable to me.
When they released the statement way back in 2019 that they were not fully backed by USD assets, it remains in my mind that what if they are not saying the truth today.
So I can't agree that USDT is the best stable coin out there. Just be cautious using any of these stablecoins.

[Clement Kaliyar]

Maybe for transfer or trading purposes, USDT is good.
But for long term holding, I am not confident on this stable coin.
As their actual assets is somewhat questionable to me.

For trading and transferring USDT is a good option because of the high volatility and mostly it is used for P2P trading as well and like you said i am also not confident in holding the coin for the long term because of the constant issues they land and the number of coins they mint during every bitcoin rally and i checked for the transparency and i could not find any and that is a problem moving forward.

[memyselfandi]

I agree that it is a stable coin but not the best, I am seeing other stable coins which have greater market competence and stability compare to tether. But don't get me wrong, tether is one of the good stable coin and have a potential in the market.

[MCobian]

I agree that if Tether is the best stable coin until now, I do not say without reason. When comparing with other stable coins,
It is certain that Tether has the highest market cap and also Tether is listed on almost all the exchanges currently in circulation.
Based on my experience using Tether since 2017, I have never experienced major problems when making transactions. And it is proven
that Tether is also the most popular stable coins and most used by traders to avoid volatile prices in the crypto market.

[Reid]

Did you know, Tether (USDT) can be freeze by the smart contract + USDT is not really 100% (1:1) backup with the asset maybe only around 60% there also have some court result between Bitfinex & Tether they losed and have to pay a million dollars because of that.

Did really Tether is the best ? I guess not, there also have a slight down on Tether the price going to 0.7$ on some case you can check on price history Tether in Coinmarketcap.

Agree. Please keep that in mind.
OP best investment for what? I won't oppose the usage in businesses because of stability but as an investment, that's kind of absurd.
If you are just going to invest in USD then why not just choose banks?
That way, you won't have any reason to be afraid if ever Tether will move or not.
$0.01 of increase won't be that profitable. Maybe if its Bill Gates.

[carrie_white]

I think it's only natural that USDT is the best stable coin, because USDT is a stable coin that first appeared, like bitcoin. but I personally think I prefer BUSD from Binance, because gas fees are very cheap and flat

[StartupAnalyst]

I understand why you like Tether. It is still the most popular among all stablecoins and wildly used in trading pairs on different exchanges but, to say the truth, it’s not the best stablecoin at all. Here you can read a lot of info about some problems with Tether: https://www.forexcrunch.com/if-tether-falls-the-whole-cryptocurrency-market-could-go-down-with-it/#:~:text=Tether%20rules%20the%20market,from%20loans%20to%20third%20parties . The info is not new I thought all have already known about this.

[int03h]

Currently, the USDT / USD rate is too high compared to other stable coins. USDT is the most popular stable with diverse trading pairs on many different exchanges. USDT is supported by a diverse range of blockchains and it can be said that people prefer USDT on TRON blockchain because of the low and fast transaction costs between centralized exchanges.
If I consider the past of USDT I would not agree with the view that this is the most stable. I prefer USDC even though they are only in Ethereum format.

[memyselfandi]

I agree that it is a stable coin but not the best, I am seeing other stable coins which have greater market competence and stability compare to tether. But don't get me wrong, tether is one of the good stable coin and have a potential in the market.

Then why do you say that "this is a stable coin but not the best" if in the last sentence you deliberately admit that "tether is one of the good stable coin and have a potential in the market"? wouldn't this kind of thing confuse other people ?

I agree with the statement that tether is a stable coin but I am not agree that tether is the best stable coin. Don't be confuse with that. I am reading tether for the past few days that is why I can say that there are other stable coins that can overpower tether.

[el kaka22]

I get that some people like centralization, and like to invest into companies they do not know about, but I just can't do that. I prefer places that I know and coins I can trust. Dai is the coin I like to use in the defi world, these days I am purely on defi and do not have any money in the regular spot world, but even in the defi world sometimes we use BUSD, and I can do that with a bit better ease because I know binance and I trust them.

Who is tether? Why would I trust that company that I have never worked with before? This is why I am going to end up not dealing with usdt at all, I just have some 20 bucks on metamask on erc20 that is usdt, that was a payment someone sent me, I haven't been able to cash that out because of high ETH gas fee, but as soon as gas fee's drop, I will get rid of that and will not have any USDT, this wasn't something I wanted neither it was just payment they sent me and not my choice.