Is USDT a trustable?

[TomArayaSlaya]

Maybe just consider those bad news as pure fuds by people hating on usdt Every project ones in a while will go through a rough patch and its up to the project to decide how to react so far tether has been stable and is doing well So I don't think trustable is the case here Look at all the exchanges you use Is there any without tether Choose your stables but USDT isn't going anywhere

[Abiky]

Doubts about how reliable is the USDT coin have existed from the very beginning, we must remember that we are in a decentralized market and that USDT is centralized so it is natural that many people do not trust in it blindly, however if that was not enough over the years there have been serious questions about whether or not the coin was always backed one to one with dollars and this is why despite its huge market cap many are still unsure of the credibility of the coin.

You've said it yourself. USDT is a centralized stablecoin. Why would someone trust it in the first place? Only those who're new into crypto or are simply ignorant (without offending anyone, of course) will put their trust into a stablecoin manipulated by a single entity. Crypto is all about decentralization. Take that away from it and you'd get nothing more than a "glorified banking system". I'm afraid USDT won't last for long if it remains a centralized stablecoin. Anything can destroy it, putting at risk user's funds. Instead of trusting USDT, people could trust a decentralized alternative like DAI. But the number of projects and exchanges supporting it are low. At least, there is more than one stablecoin on the market. Things would've been worse if USDT was the only stablecoin in existence. Just my thoughts

[CDC AP]

We've known usdt for a long time and it goes without any problems, but these days also of course there are those who don't like the usdt they make bad news. This will be the trust of the disturbed community. We can't be related to that.

[Koro-Sensei]

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?

Lots of rumors emerges that USDT is not really backed by USD in a bank. I also heard that it happened between 2017-2019. Nonetheless, all of these are being resolved already and nothing to worry about. Besides these are just a bridge to what you really buy in the market.

[Shagnasty]

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.

[Snappycoco]

One of the biggest stablecoin today is USDT who ranks number 5 in coinmarketcap. I don't think they scam anyone and nor they will do one. They are a regulated body and their legitimacy is in par with other industry leaders. The USDT cryptocurrency is backed by USD locked and minted by real fiat stored in a bank. Theres nothing to worry about mate but inflation.

[Rana590]

Usdt is one of the trusted and well known to everyone. It is most popular too and people use it without any hesitation. Day by day, it is growing among large community. Rumors can arrive any time but we shouldn't care these all the time. We have to judge the potential one.

[the ghabbar]

The OP should have provided the link to  source of the news to authenticate it, as far as USDT is concerned I don't think it has any trust issue, it has been my choice in trading whenever I sell at time I changed my cryptos to a stable coin mostly USDT and I had never have any issue with it, presently I have some USDT on my binance wallet which had hodl for quite a long time and very stable in price with when compared with other cryptocurrencies j

I mean that this problem arose because the topic that was created was not based on the right knowledge, but I didn't mean it for you and didn't say you have a problem with USDT, even today USDT is still very stable and worth investing in both long term and short term, moreover trying to compare it with other altcoins which are not sure if they can provide real benefits and have a level of stability like Ustd.

[Kezacky]

USDT is currently pegged to the value of one US dollar and also backed by real dollars is the most reliable stablecoin to use in the process of hedging against volatile crypto prices and also an alternative to use in storing money compared to holding it in a bank or financial institution. USDT is also often used for trading pairs.

[Baimovic]

I heard bad news about this USDT stablecoin a very long time ago and until now the coin has not had a bad impact and it is still the trust of traders to keep assets on the coin in lieu of their currency and even so we also have to be careful because all that in crypto it can happen quickly without us realizing it but I still strongly believe in USDT until now for asset switching when coin prices start to fall.

[bayudndy]

Although I don't see any problem with it, if you are scared and don't trust it then you can use other stables in the market.
USDC
BUSD
DAI
Pax Dollar
....
It's also not too different from USDT because it still represents fiat in essence.

[javainn]

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?

my advice don't worry too much about any bad news about USDT. although if the failure of USDT will cause a shock in the crypto market but I think there will be a signal in advance for USDT users to anticipate in advance.
basically tether still carries risk because Tether originally claimed that each USDT was backed by US dollars in its reserves.
But the reality is more complicated, Tether is backed by a mix of:
1. Cash,
2. Cash equivalents,
3. Secured loans,
4. Corporate bonds and other Investments.

but you have to be careful if you have USDT

[mulia sabee]

USDT a digital fiat currently peggd to the value of one US dollar and also backed by a real dollar is the most reliable stablecoin to be used in process of hedging against the volatile prices of crpto and also the alternative to use in saving money in as compared to saving it in the bank or any financial institution that promises to keep your funds safe enough for you.

[the ghabbar]

USDT is safe and secure to store the money in crypto form. Tether is a stable coin that is pegged to the price of 1 US dollar hence is stabilised.

Tether has a good usecase if you'd like to keep your crypto capital gains without converting it into fiat currency. This might help those who had huge amounts of money invested and made in crypto gains, cause by converting your other digital assets into a stable coin like tether you are ensuring less risk on your money (as USDT will keep the value of your money stable and thus protect it from market volatility).

If there is a fear of that, then you have to prepare another option to switch, although I don't see that fear as a big problem at the moment, even though the Usdt is a stable coin that needs to be maintained, even the usdt can keep the value of our currency more stable and protect it from volatility the market of fiat currency, many people have even started using USD as a substitute for other coins, rather than the big risk we will not be able to control in the future.

[South Park]

Tether is a confidence game and if confidence was lost, USDT could quickly become worthless. Still, getting out of Bitcoin and into Tether for a few days probably poses minimal risks. If you want to use Tether to move money between exchanges or to hold dollars for a week or two, that's probably fine.

This is what fiat currencies are as well, the difference is that with tether you are taking in additional risks, after all it is way more likely that tether crashes first than the US government, and even if the US government is the first to crash tether will crash as well, so holding tether does not make sense, it is a useful coin if you need to stay away from the market for a few days but except for that you should never hold that coin for long.

[Wildwest]

Since the first usdt present in the crypto world is indeed the stablecoin we can rely on to store our assets, and until now there has been no problem with the stablecoin, if you hear the scam news about usdt do not easily believe because this is difficult to happen let alone usdt has stood very long as a stablecoin and every transaction we do always goes according to our wishes and very quickly, Scam news about usdt is often heard but all that never happens then don't worry about usdt at this time.

[Pelana vreo]

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?

Can you share a link about usdt is scam?
currently i keep my crypto assets into stablecoins to avoid price fluctuations when i have made a profit, there are many stablecoins, USDC and BUSD are other stablecoins, nothing to worry about as long as you store them well, they will be safe with wallets kept with good.

[adiebitsler]

Many people do not like USDT, so they make bad news so that USDT's image is destroyed. If you're still worried about USDT, you can switch to another stablecoin like BNB.

Did you just wake up ? BNB is not a Stablecoin, and just an ordinary coin that already has a BSC Network and a large exchange support through Binance, so don't get me wrong about this and until now USDT is still safe and has never had any problems, so how did USDT get destroyed ? Stupid don't keep bro.

[noah tall]

I will say , "yes" . There are so many bad news about usdt. But it is a stable coin .  But if u are feeling scared so you can put it in to another stable coin just like busd etc, there is no chance of scam . But if it is than in advance the crypto market give a signle or news to everyone . Many of people Don't like usdt. So the reaction is they makes bad news about usdt.

[2girls]

In this issue my Answer is that yes because USDT it is one of the best stable coin in all crypto so i said that we easily say that USDT is a Trustable coin.
And this issue i advise to those people who made this type fake news so please use another coin but not made this type news.