Seeking a suggestion

[Media Tech]

Hi everyone, hope everyone is doing good.
I searched the forum a lot but could not find proper answer hence I had to create this topic. Please don't mind if it has been questioned/answered earlier.

I am not a big investor in crypto. I get small parts of crypto as payment and I hold on to them. The recent price drop made my portfolio go down by 39%. Off all these events, what I noticed is usdt still exchanges at same rate.

I have read that usdt can freeze our wallets with funds in it. I have also read accusations that they are not backed as they tend to promote themselves.

I wanted to convert my crypto in usdt and store it, but what's the fun if someone can control ot and freeze my account.

If any of you happen to use usdt, can u give me your thoughts about it, it's legitimacy and it's future maybe.

[jackg]

I've been under the assumption for a while that exchanges like binance have been manipulating the price of usdt to keep it stable. I could be wrong but that's my best guess.

Why are you wanting to hold usdt? Are you wanting to hold the dollar, could you not hold it locally in a bank account or something that'll pay you good interest?

There's a lot of suspicion usdt isn't backed and I'm not sure whether I'd agree with it. I could imagine the founders being happy making $1bn in interest off the 28 being indefinitely held in an investing account (in things like bonds).

[Media Tech]

Snip~

Yes.. I wanted to hold it on a long term like i had planned to do with my other cryptos. Yes you have pointed out all the concerns I had.. my last concern is is it possible for them to freeze/devalidate my funds stored in my usdt wallet for some/any reason if they had to?

[crwth]

I think what you should decide on is if you want to take advantage of the volatility of prices or just HODL on your coins.

The most common stable coins have that kind of feature where they can freeze the funds. Unless you have gotten it somewhere illegal, you wouldn't have to worry about it too much. I think it's okay to have that. Since you said you are not a big investor, then it's okay to hold it in USDT or USDC, whichever you prefer, as long as you can capitalize on the market price changes.

Do you think that they are going to come after your funds? There are a lot of wallets that probably deserve more to be frozen than yours, unless you are doing something illegal.

Here's something to add to your read list about stable coins
   
[UPDATED] PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets by mk4

[Media Tech]

The above assumptions and this article answers all my questions. Thank you.