Is USDT a trustable?

[Congyang]

I actually think that USDT is something that has quite a big risk, especially for the long term.
they are supervised and audited by a third party in this case indirectly they are the same as someone who is behind it and this makes usdt not good enough for the long term.
I'm not saying it's bad but with a system like this it will be very risky in the long term even though their liquidity is large

As used to prevent big losses when red downfall is ongoing, USDT is one of the best option to trade your crypto while waiting for the final dip, experienced traders use this stable coin as good advantage controlling the value of your investment capital, but if you are talking about long term, I follow you with your opinion, is not good for investment those negative news about this coin will hurt the reputation in some point.

If you want or if you are planning to find an alternative, BUSD, USDC and DAI serves as how USDT being used from this industry
you can use one or more if you are not comfortable placing your entire money with one basket.

yes it is true for scalping and short term stable coins like this are still a good target for traders but of course those who are experts and those who already understand very well with the placement where they have to enter and where they have to get out in order to get the maximum profit.
but it never hurts for beginners to try as an exercise for them to understand better. but remember with proper TA and research don't use instinct.

I think I will try according to the advice you said thank you for the advice you offer.

[kensaii]

If you're looking for an alternative from one stable coin to another stable coin then I have to tell you that's a futile effort. You have to understand how stable coin works first to see how risky they're. There is no such thing to reduce the risk by using the more trusted stable coin.

[fileo]

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?

As long as you are in trusted site, exchange, and wallet. Usdt is safe to use and store. Scam usdt are those who are in giveaways, scam games, fake exchange, fake site, and fake wallet. Whether there is or none bad news about cryptocurrencies, usdt is strong and will stay in crypto sphere.

[virasog]

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 is always better to diversify your portfolio and this is also true for stable coins. If you have stable coins, then you should divide them and move them into USDC, BUSD, DAI etc. No stable coin including USDT is 100% save but recently there has been a lot of negative talk about the USDT in social media which makes it even more vulnerable.

[Mamun74]

I Think USDT is trusted when you uses trustable site,exchangeand Your wallet. Many people they scam with us many ways are giveaways,scam gambling site,fake exchange, fake game.USDT is a stable coin.I think USDT they will be more development their system.

[ivankoh]

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?

Right now Tether is being masked as a Ponzi and the possibility that it remains a mystery to the Tether CEO when he deletes twitter makes Tether's trust level wobbly and fragile. Regardless, they are of great importance to the store of value of the crypto market. But I still suspect more serious levels for them in the future. For example, the Fed with a coin is born, it will be a deep hole for Tether and the risk is coming closer to them.

[Turbolinea]

I haven't heard any bad news about USDT lately that is indicating USDT might be a scam. So, I don't think that USDT has anything to do with being a scam. There have been incredible amount of people in this market who have used USDT so far. And it is one of the most credible stablecoins these days. I use USDT and BUSD when I want to keep my money in the market but not in the volatile cryptocurrencies.

[Anonymous100]

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 do not understand about the scam you mean. But if we look at market capitalization with market circulation is very different. Market Cap is much higher than circulating supply. Whereas in principle, to calculate the Market Cap is the price multiplied by Circulating Supply. This proves 1 USDT is not equal to 1 USD.



If you talk about scam, maybe you can explain what kind of scam you mean?

[Findingnemo]

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?

DAI is a decentralized stable coin backed up by the ethereum smart contracts which is unlike to the Tether which is simply pegged to the USD value, but tether is not really trusted as long as it gets bigger because at some point the value may drops to zero if people found that its not actually backed up with the assets.

[coinzzzpro]

A decrease in the price of USDT by more than 20% will cause the market to collapse, everyone will flee from it. So it will be kept stable forever, that's of interest to everyone. But let's not forget about alternatives, for diversification.

[91254vvpatel]

Given the present circumstances, I do not think its future is right. But now you can trust it. The way people still trade in usdt. It just shows the people's faith in him. But the news of his future is not good. So I get a little skeptical. The rest currently comes in 1 to 10 tokens on CMc.

[19Nov16]

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?

This is not the first time bad news has hit the USDT. Such news has happened many times. Even then the USDT is in the best position at the present time. I don't think you need to be upset by such news. The USDT is currently in the market with a lot of fidelity

USDT being the coin with the largest daily transaction volume beats bitcoin even 2x the transaction volume of bitcoin, this proves that USDT is the safest coin because it is stable and certainly a place to store temporarily because it avoids unpredictable markets.

[Fredomago]

I always use USDT when trading and making a profit and see the market going red, USDT is certainly designed to be stable even though the market is very volatile and I never hesitate to park money into USDT because it has proven to be a stable coin.

You are using it the right way; it serve the purpose and if you are a wise trader, you will value this coin. Always give time to work it out and see the benefits, in terms of trust it's only you who can assess that, it can be described from how you manage to work with this coin, a part of this market in which highly usable to park your money while the market is not showing a good sign of favor your investment.

You can avoid big losses if you are able to exchange your hold assets to USDT before a huge crashed happen.

Make yourself familiar, there's always a good way to make a use of this stable asset.

[South Park]

If you don't trust USDT, you can just simply convert your USDT into USD or GBP or Euro or any other currency you trust. There should be one fiat that you trust the most and with most of exchanges, that's not a problem.

The problem in converting into any of those fiats is, you may need to clear KYC for doing so. In most countries you cannot sell your crypto for fiats without unveiling your identifications. So, this is the reason why most people here are still depending on tether and other stablecoins.

Even usdt is not trustable fully, I guess for time being may go with it but only in small amount and only for short duration of holding.

This is why stable coins are popular, they allow you to get into fiat without actually sending your money to your bank account, you can get back into the market in seconds instead of waiting for days and you do not need KYC, however it is very likely that governments are already looking into this and there is going to be a strong regulation coming for those coins, and if that is the case then I will not be surprised if the popularity of those coins went down as a result of this.

[KingsDen]

What area of bad news does OP mean?
Do you mean that it is not backed by US Dollar and would be shut down?
Or is the news that USDt is no longer a stable coin, that it will dump one day?
Or is it that no one will use it in the future.
Maybe it is used to promote scam?
I don't understand, I believe usdt and other stable coins are safe Haven for traders to enable them analyse, restrategize before entering next marker.
Looking at the volume at which it's been traded with other coins, you will understand that it's in impressive dominance instead of decline.

[Lanatsa]

Though I believe there is no such thing called 'safe' in cryptocurrencies, every investment has a risk no matter how high or how low. But generally, if you see risk and stay away from it then there will be no gains or profits for you. For stable coins like USDT, they are always carry a risk and you should know that. On the stable coin chart right now, BUSD is more trustable than USDT.

We do have several stablecoins existing on the market.

#   Name   Change 24h
1   Tether#5USDT   +0.04%
2   USD Coin#9USDC   +0.01%
3   Binance USD#13BUSD   +0.02%
4   Dai#31DAI

Source: https://cryptoslate.com/cryptos/stablecoin/

But I don't really trust up anyone of them but as for temporary use then it could do somehow.

[NicNacCoin]

Yes of course USDT is a reliable stable coin. If you don't trust different currencies then you can definitely keep USDT.If you keep the USDT, you will have no risk.So I would say if you think cryptocurrency is a risk then you must keep USDT.

[DarkDays]

USDT(Tether) is one of the most trustable stable-coin that you can use knowing that is has been in the crypto-space for so long time and many crypto enthusiasts are using it as their storage of funds.

Stables by definition are designed to withstand all volatility. From that standpoint alone, you could tether your crypto to it, however, nothing is trustless in this environment per se.

Yes, most of the crypto markets rely and use USDT but if something was to happen to the USD, then the economy all markets will bleed. One simply can't be ignorant of this unlikely, yet potential fact. Not that it will happen but don't shut your mind to the possibility.

[the ghabbar]

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 this is a natural thing to happen to usdt, because almost all existing coins continue to be associated with bad news every day, and that needs to be straightened out regarding fraud, that is not true at all, usdt is the most stable compared to memecoin currently available and does not there are reliable references that usdt is a scam, this is just a joke people say, don't believe too much in such bad news, because usdt can never be a scam.

[clarkt]

Tether has courted lots of controversies over the years in Cryptocurrency space, and those controversies are yet to materialized.  Usdt is a very useful stable coin,  it helps lots of traders against volatility.  Newbie have been able to make sense of micro numbers associated with bitcoin and other altcoin because of stables like Usdt.  Traders and investors need Usdt as much as Usdt need traders and investors to keep it's success.