Is USDT a trustable?

[dupee419]

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

USDT would have plummeted in the top rankings in the market if it wasn't a trustable coin, also, some people prefer trading with USDT because of it's volume and liquidity, they also invest in USDT because it benefits the user offering them low transaction fees, one of the recommended stablecoins by crypto enthusiasts is Tether (USDT).

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[Cling18]

USDT is trusted though there are lots of existing negative news about it, its stability is still an advantage especially for traders. We always need a stable coin as a base currency so the existence of USDT is too important in the crypto world. If it's a scam, it wouldn't last for years.

[Fakhrulenclix]

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

It's been a long time since there's been some bad news about usdt and until now usdt still dominates the market, you should not trust too much news that isn't necessarily true.
Currently, there are a lot of usdt users with the trust of many people and price stability that is very well maintained. I think it is very unlikely that anything bad will happen to usdt.

[fuguebtc]

FUDs on USDT has been around for a long time and I can't remember how many times. USDT is considered the strongest stablecoin on the market and is supported by all exchanges. If USDT is a scam then the market will be severely affected. but I'm sure it won't happen.

[Galley]

Similar thoughts about reliability have been circulating in the crypto community for a long time, but no one really managed to prove the insolvency of usdt. The usdt coin is so closely related to trading that it is impossible to imagine it as a fraud.

[finaleshot2016]

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

Despite a lot of bad news about USDT, it's still one of the most popular and widely used stable coins; if you're concerned, use alternative coins. If we're talking about stability, I believe USDT and BUSD are the only stable coins in the cryptomarket, therefore choosing other coins is considerably riskier because most of them are highly volatile. However, I propose utilizing BUSD rather than USDT because we all know how BUSD is used in market exchanges, particularly in finance, so there is less doubt and anxiety of using it.

[Moeda]

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

The first is that you don't prove USDT scams, so someone's analysis of what you say will not give you a definite answer. Furthermore if USDT is a scam, then 99% of the current exchanges are also involved in the scam, because 99% of the exchanges use USDT. I am not a USDT holder, I use BUSD as a stable coin. But to say USDT is a scam is difficult for me, because I have to deal with investors and exchanges that are currently trading USDT.
So how can you say that?

[mdzahed134]

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

I think it’s FUD about USDT because i did not see any negative news in the recent. USDT is highest trading volume coin and top five ranking coin in CMC, I don’t think there are any untrusted issues. A lot of others stable coin in marketcap but i mostly using USDT then DAI. I would like to recommend USDT to you.

[Emitdama]

USDT is trusted though there are lots of existing negative news about it, its stability is still an advantage especially for traders. We always need a stable coin as a base currency so the existence of USDT is too important in the crypto world. If it's a scam, it wouldn't last for years.

We have now very few negative news about this, so I am feeling it's very good going and now one of leaders in crypto market. If someone feels not good then surely he needs to replace this for any other stable coin because now we have some good stable coins in market which are working ok for crypto community.

We have enough reserves to back every USDT minted with a real USD. I think I will be more worried about other coins because the negative news is not only about USDT but a lot of coins that are also affected.

[AhmadM]

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

Precisely it couldn't be fully trusted, it isn't something like this token is a scam or etc rather sometimes the token in your wallet could be frozen since its considered as centralized token. I have heard some people experience that and if there something suspicious happen about your transaction, you might would encountered it too.

[sovie]

FUDs on USDT has been around for a long time and I can't remember how many times. USDT is considered the strongest stablecoin on the market and is supported by all exchanges. If USDT is a scam then the market will be severely affected. but I'm sure it won't happen.

So far, audits have not revealed any manipulations. However, you can never be sure that someone will come up with the idea of creating additional USDTs in the future that will not be backed by real dollars. Hopefully nothing like this will ever happen, but unfortunately we can't be sure.

[7788bitcoin]

I have been keeping my savings in USDT already very long time and I have not had any problems with this, but of course there is sometimes fud around USDT or other stable coins, but this is all just fud, of course, once the SEC started checking USDT and the SEC checked USDT and there were no problems with USDT, so you can safely store your money in USDT, but if someone is still afraid to do this, then there are many other stable coins in which you can also store your money if USDT does not suit you, well, I will keep keeping my money exactly in USDT, as this is not the first year I have been doing this.

Can you pin point to one legal document that was published by the SEC stating that USDT is safe to invest and they are backing everything that they claim as collateral. I bet you will not find any because there is no, i am not sure why you are blindly supporting USDT, i do use them but that does not mean that i am supporting the inaccuracies and i am expecting it to go down hard one day or the other and hence i wont be holding them for the long term.
 

[Questat]

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

How does it convince us that USDT is a scam? And in fact, if you take a look at its market volume, there is nothing to see like that. It was just a claim that can prove nothing. USDT gains trust more than you do and many traders are using this as their trading pairs (including me). I don't know where you read or heard that information as it was clear to see that it was a false accusation and you better not to listen that is it only confuse you.

[Iceblast]

Bad news about USDT is often heard nowadays, but it's not easy for USDT to be scammed or destroyed. believe USDT is still the best.

I think USDT still has great trust in the public and USDT is not prone to scams anytime soon

[coinzzzpro]

Bad news about USDT is often heard nowadays, but it's not easy for USDT to be scammed or destroyed. believe USDT is still the best.

I think USDT still has great trust in the public and USDT is not prone to scams anytime soon

I guess that Bitfinex will withstand all hardships and will hold its ground, it is a good project which gained trust and is even used for money transfers where the commission is negligible comparing to SWIFT.

[crwth]

I don't think they will scam anybody out of their USDT but what they can do is "scam or trick" the regulators or the auditors with how much they have that in their vaults and how much they have circulating in the crypto space. It should be at a 1:1. 1 USD backing of 1 USDT in crypto. I remember that that was the issue way before this, and they did it to pump BTC before, and now that BTC has reached higher highs recently, I doubt that there would be scamming involved or something unless there are hackers that use that, though.

[Amejoaquim]

Seems like USDT has better liquidity and it's more universally adopted especially when using other trading platforms. I don't use Binance as trade platform; I use it to buy/sell USDT. But if we're talking about risk, I think it's incredibly risky. They're not audited by 3rd parties and they're very opaque. For another option maybe you can choose DAI for stable coin.

[Beparanf]

Seems like USDT has better liquidity and it's more universally adopted especially when using other trading platforms. I don't use Binance as trade platform; I use it to buy/sell USDT. But if we're talking about risk, I think it's incredibly risky. They're not audited by 3rd parties and they're very opaque. For another option maybe you can choose DAI for stable coin.

USDT is very risky if you hold it for a long term but since they have the biggest volume, There is no way that will give up easily what they established in crypto space. They are not audited by 3rd party but they have a official bank statement notarized by a lawyer which is a good sign that they are trying to do things right. I think SEC really wants to charge them big time since there is a lot of USD in exchange to USDT flowing to there company.

[Novice08091]

I don't hear any bad news on USDT because you can Compared with other mainstream currencies, USDT is relatively stable, and the growth rate will not fluctuate greatly, and its exchange rate is basically the same as that of the US dollar.

[fadil46]

I guess that Bitfinex will withstand all hardships and will hold its ground, it is a good project which gained trust and is even used for money transfers where the commission is negligible comparing to SWIFT.

I very rarely use Bitfinex even though you say it is easy and more profitable than SWIFT, because as long as I use the Binance exchange, it seems that there is no need for another exchange at this time.