Is USDT a trustable?

[kawetsriyanto]

USDT, in my opinion, is a pretty stable coin, and I don't have many issues with it; the only thing that counts to me is that it serves as a safe haven when the market is bearish~

Indeed. I also never experienced something bad with USDT although there are some bad issues about USDT in the past. Since it is a stable coin, the price won't fluctuate like Bitcoin and other altcoins, the price move is very predictable. Before the bearish season is coming, I also plan to convert my assets to USDT. Not sure if it is a safe haven, I choose USDT because it has many pairs in exchanges, so I can easily buy any crypto coins with USDT.

[LastKiss]

USDT is the most trusted and safest coin to hold especially if you want to protect your funds from market volatility, I say until now I still hold it, The bad news about this coin has happened too many times over the last few years so don't worry and forget and trade as usual, it is the most stable coin in the crypto space, it is one of the most supported coins by all exchanges.

It's true that we can feel safe for now but no one guarantee our funds will be safe in the years ahead, In this uncertain market some of my funds were transferred to USDT. It's better if you are uncertain about the market to take some break and continue later on and you can do some vacation before starting to trade again.

[Nazmul012]

Still usdt Isn't seem trustable to you? Generally project managements could different from one to another team. many excellent projects available crypto industry but of course none of those without having single issue! and based on those issues, it shouldn’t fair to declared that project as scam! Usdt is most used & still belong to top4 currency, as well as fee friendly fast transactional. Such huge People Won't use it if it scam. i myself use usdt without any problem yet.but binance usdt, Dai, usd  coin could be also use instead of usdt

[Anguwa]

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 believe, USDT is one the stable cryptocurrency token one really trust, because I have been into crypto for almost a year now, I never heard about the dump or fall in price of usdt. But there are other stable coins that one can hold without fear or tension of dumping due to cryptocurrency market situation.

[agustina2]

Still usdt Isn't seem trustable to you? Generally project managements could different from one to another team. many excellent projects available crypto industry but of course none of those without having single issue! and based on those issues, it shouldn’t fair to declared that project as scam! Usdt is most used & still belong to top4 currency, as well as fee friendly fast transactional. Such huge People Won't use it if it scam. i myself use usdt without any problem yet.but binance usdt, Dai, usd  coin could be also use instead of usdt

We can't blame them as USDT is having legal issues and concerns.

But it's not that USDT will be fall overnight. It will take a long process before USDT can be considered as trash.

It's 100% safe to put funds on USDT now to avoid the crypto volatility and just convert it to crypto of their choice at the right time.

[albon]

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 believe, USDT is one the stable cryptocurrency token one really trust, because I have been into crypto for almost a year now, I never heard about the dump or fall in price of usdt. But there are other stable coins that one can hold without fear or tension of dumping due to cryptocurrency market situation.

Yes, the USDT coin is very stable, trustworthy, secure, and very safe. It helps traders to conduct low-cost trading and protects their digital assets from severe market volatility. The USDT coin will help you to stabilize the value of your profits and thus will ensure less risk to your money. So it is an important coin and very useful for traders so don't worry about the tokens that you exchanged in USDT.

[goinmerry]

USDT is the most trusted and safest coin to hold especially if you want to protect your funds from market volatility, I say until now I still hold it, The bad news about this coin has happened too many times over the last few years so don't worry and forget and trade as usual, it is the most stable coin in the crypto space, it is one of the most supported coins by all exchanges.

It's true that we can feel safe for now but no one guarantee our funds will be safe in the years ahead, In this uncertain market some of my funds were transferred to USDT. It's better if you are uncertain about the market to take some break and continue later on and you can do some vacation before starting to trade again.

USDT developers or whoever is in charge have no control of their coins on exchanges. If there's something wrong happens, we can react right away and trade it quickly. It will count several years before that worst case scenario in USDT will happen.

It's still safe and can be trusted today. Just follow regularly some news related to USDT to keep you updated.

[Sweetbtc]

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?

Do not use one stable coin. Distribute your stable coin poryofolio.
Use Usdt,Busd and Dai stable coins to store your stable coin. If one stable coin scammed you will not lose much.
For me Dai is ine of best and secure Stable coin amd very low chances id scam.

[noah tall]

Yes , it is trustable , there are so many fuds are about usdt because few people who don't think that usdt is trustable. But it is stable crypto . And completely safe. In the crypto market usdt and busd are most papular and trustable stable coins.

[redwine49]

interesting topic. i am also worried too.
base on coinmarketcap
in less than 1 year USDT marketcap just pumping from 4B $ to 76B $.
its 20x, but if USDT will collapse, they will bring down entiry market to the very bottom

[coco23]

interesting topic. i am also worried too.
base on coinmarketcap
in less than 1 year USDT marketcap just pumping from 4B $ to 76B $.
its 20x, but if USDT will collapse, they will bring down entiry market to the very bottom

It will be a major shock of course if USDT really comes down, but I doubt it will have long term implications for the market. I mean for the last 3-4 years people are kind of waiting for it too happen. When the day comes many participants will be happy that this uncertainty risk factor is gone for good.

[TimeTeller]

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?

Do not use one stable coin. Distribute your stable coin poryofolio.
Use Usdt,Busd and Dai stable coins to store your stable coin. If one stable coin scammed you will not lose much.
For me Dai is ine of best and secure Stable coin amd very low chances id scam.

This is one better approach here if one is storing his coins in stable coin.
You need to diversify even in stable coin as you have no clue when one of them will have bad news and will fail.
USDT has their history of admitting that they were not fully backed by USD assets - remember the 2019 admittance?

https://www.coindesk.com/markets/2019/04/30/tether-lawyer-admits-stablecoin-now-74-backed-by-cash-and-equivalents/

So with this kind of situation, are you secure that USDT will not make another mistake?
So exploring your options also in BUSD or in DAI, is one better idea to safeguard your stablecoin assets.

[Sophiya]

usdt has been around for a long time and never had any problems. I do not believe that something can happen to usdt in the near future, it will be unprofitable for the entire market i think stablecoins are far safer than other cryptocurrencies,  but in any case there are many alternatives.
If you are very worried, choose another coin for yourself

[Leonardo7]

I have savings in USDC, USDT and BUSD. USDT has been having a case , don't know if they settled out of court. Well USDC and USDT are my major stablecoins for savings.

[aleandromagno]

I have savings in USDC, USDT and BUSD. USDT has been having a case , don't know if they settled out of court. Well USDC and USDT are my major stablecoins for savings.

Regarding the allegations that USDT is not fully backed by dollars, there have been several such cases. As far as I know, Tether has undergone at least three audits and none of them has shown any negligence. Of course, there can always be suspicions, but at the moment it is the stable coin with the highest capitalization, so in my opinion it is the safest.

[sitbang]

USDT is one of the most stable value cryptocurrencies reflecting the price of the US dollar, we know that this is not the first time negative news has appeared, but it has had no effect and even now remains the market leader, the usdt coin is safer than other cryptocurrencies.

[Shagnasty]

As long as the transaction fee is relatively cheap, maybe I will continue to believe in USDT, because many users use USDT, because other coins are too expensive, for example like ETH, the shipping fee is quite expensive and costs quite a lot, then the most appropriate solution is using USDT, XLM, TRX, BSC, BNB, or other tokens that are not too expensive to send.

[OrangeII]

interesting topic. i am also worried too.
base on coinmarketcap
in less than 1 year USDT marketcap just pumping from 4B $ to 76B $.
its 20x, but if USDT will collapse, they will bring down entiry market to the very bottom

It will be a major shock of course if USDT really comes down, but I doubt it will have long term implications for the market. I mean for the last 3-4 years people are kind of waiting for it too happen. When the day comes many participants will be happy that this uncertainty risk factor is gone for good.

well, but we don't know what effect it will bring when USDT falls. however, for now, USDT is able to maintain this Issue. people have been speculating for a long time, even this is a fact, but there is no sign of a fall in USDT. but, maybe you're right, if the USDT falls, a lot of people will think they are right. however, with the sheer volume, usage rate and volume, I think if USDT falls, it could make a lot of FUD news.
however, I didn't really trust USDT until recently, and just used it according to my needs.

[Abiky]

Regarding the allegations that USDT is not fully backed by dollars, there have been several such cases. As far as I know, Tether has undergone at least three audits and none of them has shown any negligence. Of course, there can always be suspicions, but at the moment it is the stable coin with the highest capitalization, so in my opinion it is the safest.

Tether is a centralized stablecoin so there's always the "risk of failure". I wouldn't say it's the "safest" since nothing is safe in this world. I would trust a decentralized stablecoin like DAI more than Tether, simply because the risk of loss is minimal. There is no middleman that would freeze, confiscate, or otherwise restrict access to your funds. Not like Tether where several ETH accounts had their USDT frozen (blacklisted by the issuer himself). That greatly defeats the whole purpose of crypto which is banking for the unbanked. Using Tether is no different than using traditional banks.

I believe you're better off cashing out your crypto for real Fiat than exchanging it for a centralized stablecoin. Tether is only useful for day trading, but not as a "currency" you can rely on for savings or investment. Who knows what will be of USDT as governments begin cracking down the industry? Just my thoughts

[bengsabeng]

don't easily believe this kind of news because this kind of news is common in the crypto world. currently USDT is the largest stable coin, of course many will want to seize the position. when market conditions are down I usually change the assets I have to USDT, I've been doing this for the last few years and so far I haven't experienced any serious problems.