Do You trust Tether (USDT) Stablecoin?

[ashslm]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

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[hd49728]

They have long history in cryptocurrency and if there is a stable coin you can trust, USDT is one of the best options you have. Regardless of they cooked their reports, I think they have good treasuries for Tether USD.

However, in cryptocurrency, things can change very fast and we don't know how Tether USDT will change in future. If you want to store your capital in stable coin, I don't think it is safe to store all your capital in only Tether USDT. You can choose some other stable coins to store your capital like BUSD (Binance USD), USDC together with Tether USD.

Decentralize risk of bankruptcy from one stable coin by this way.

[Why you bully me]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

I do not like usdt due to lack of transparency, if I remember correctly according to their own whitepaper if something does happen they can give you another coin or something "equal" of value to replace your usdt. I never heard of any problems with people using and withdrawing USDT even when withdrawing billions and cashing out in small spaces in time but that 100% doesn't mean it won't happen in the future but who knows time will tell.

I personally like USDC, they have a fully reserved stablecoin. Each USDC is backed cash.

 

[ryzaadit]

Nope, you can see how their activity.
1. They can freeze your fund
2. Their asset backup actually not 100%
3. There has some case the value it's not 1$ a couple time, based on the time history chart.

So, with that reason. I think everyone are advising people to not holding your asset into "USDT" with a long term.

[blockman]

Everyone will just have to end up with other stable coins as follows in no particular order aside from USDT;

• USDC
• BUSD
• DAI
• TUSD
• PAXOS
• TUSD

Those are the other ones that are being mostly used but if you're for the decentralized, the closer one is dai.

[dimonstration]

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

USDC is the most trusted Stablecoin for me because it is founded by Circle which is a fully regulated company. You can assure that your USDC fund is backed 100% by fiat since they always have an audit unlike USDT. I would say BUSD since they are stablecoin of Binance but since Binance is now being target by US regulators, There’s a chance that they will suffer same fate with FTX with one wrong move of CZ. For now BUSD is still safe but if you are looking for long term reliability, Choose USDC stablecoin.

[ethereumhunter]

Maybe USDC but I also use USDT. But I don't think about the fraudulent potential of USDT or other stablecoins because I only use it temporarily and then use it to buy bitcoins. It's like taking profits in USDT to then buy bitcoins again with USDT

And I think in choosing stablecoins, we have to look for it ourselves and not just follow other people's suggestions. That way, we will know which stablecoins we can be comfortable using.

[Kelvinid]

I used USDT and BUSD for my trade but never I tried to hold them or any stablecoins. Fortunately, for the many years that I'm using them, I don't have any bad experiences which is why I still trust them. I don't think there is a problem with this USDT but I think it is the site or trading platform that we use.
I could not distrust USDT as long as I don't have any bad experiences with this coin. As I was using trusted exchanges, I have no worries at all and I believe that it won't disappoint me as well.

[riantolie]

Nope, you can see how their activity.
1. They can freeze your fund
2. Their asset backup actually not 100%
3. There has some case the value it's not 1$ a couple time, based on the time history chart.

So, with that reason. I think everyone are advising people to not holding your asset into "USDT" with a long term.

I don't think many people are using it for holding. It's a stablecoin, mostly it's used just to send money. I'm using it for about 2 years now, and never had any issues. Never heard if they froze someone's wallet for no reason.

[Tadic]

I don't trust it but I use it when I need it. In my opinion, it shouldn't be seen as an investment tool. If you see it as a stablecoin that can only be used in times of need, you will reduce the risk.

[Ojima-ojo]

I don't trust it but I use it when I need it. In my opinion, it shouldn't be seen as an investment tool. If you see it as a stablecoin that can only be used in times of need, you will reduce the risk.

You get the point right there, there is nothing like trust in cryptocurrency and not even bitcoin gives a stable and persistent future adventure and profits.

Sometimes,  bad things happen and Tether USDT may be caught up in the web but not that there has a pre-planned blueprint of how there will exit scams on their investors and holders.

Since the is the biggest and most used stablecoins

[d3nz]

I don't trust it but I use it when I need it. In my opinion, it shouldn't be seen as an investment tool. If you see it as a stablecoin that can only be used in times of need, you will reduce the risk.

You get the point right there, there is nothing like trust in cryptocurrency and not even bitcoin gives a stable and persistent future adventure and profits.

Sometimes,  bad things happen and Tether USDT may be caught up in the web but not that there has a pre-planned blueprint of how there will exit scams on their investors and holders.

Since the is the biggest and most used stablecoins

Yes, this is actually correct. The value of USDT might drop if a de-pegging happens just like the USTC the ratio drops. Hopefully, this will not happen, and surely have a negative impact on investors or traders who might think that stablecoin can be easily manipulated.

[SUPERSAIAN]

I'll give an answer like this, I'm always suspicious of usdt and other stable coins, especially there is more speculation on usdt, but it doesn't matter, I use a few stable coins at the same time, so I can move more comfortably, I recommend it. The more you reduce the danger, the more you will have space to move.

[fuguebtc]

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

USDC is the most trusted Stablecoin for me because it is founded by Circle which is a fully regulated company. You can assure that your USDC fund is backed 100% by fiat since they always have an audit unlike USDT. I would say BUSD since they are stablecoin of Binance but since Binance is now being target by US regulators, There’s a chance that they will suffer same fate with FTX with one wrong move of CZ. For now BUSD is still safe but if you are looking for long term reliability, Choose USDC stablecoin.

I think Fuds about Binance is over, and now it is still the most trusted exchange in the market. The death of FTX was their own mistake, no one harmed them, so there is no reason to say that Binance will collapse like FTX. But if talking about the stablecoin market, I would say that none is safer than the other, all are centralized, and all are in danger of collapsing at any moment. Many people doubt USDT including OP, but if you check the capitalization and popularity, USDT is still at the top, still the most used.

[bittick]

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

I think that there's no stable coin that has become the most stable coin. Any of them have disavantages for the holders. The only stable tokens that fully regulated look more credible for me. In my opinion if stable tokens must be issued based on the regulation framework to make sure it will not have any risk. People feel doubt with USD but millions of people are still using it. I think that as long as there are millions keep usiing and i have no prblem with it

[Shobhikhan_007]

There is no any stable coin that is 100% secure. When last couple of month UST down people moved to USDT and when the USDT change it's value people moved to BUSD saying ut's safe until Binance live. But you must always remember " In crypto anything can happen " 

[o48o]

Yeah, i've seen all the fud as i've been around so long and it's mostly from people who don't like the centralized nature of the whole thing. However if we want adoption we need to deal with pretty high level of centralization involved and some people don't like it. The fact that usdt is 100% backed, but not all of them are backed with usd is somewhat troublesome, but even in case of a bank run everyone would eventually get their dollars. And that's not the case even with real BANKS so i am thinking people are overreacting.

Many of the fudders seem to came from a time when bitfinex got hacked and didn't like the way Ifinex dealed wih that. And since iFinex Inc owns Tether i think they just wanted to hurt them.

-cut-
1. They can freeze your fund
-cut-

That's because of regulations, not because tether wanted to do that. Do you think that other fiat backed tokens or anyone dealing with fiat money aren't required to do this?

[Baofeng]

Maybe this one will help us:

Tether, the issuer of the world’s largest stablecoin by market value, has completed reserves attestation by major global accounting firm BDO.

The stablecoin firm released BDO’s assurance opinion on Feb. 9, which re-affirms the accuracy of Tether’s consolidated reserves report (CRR) as of Dec. 31, 2022.

The CRR shows that Tether’s consolidated assets amount to at least $67 billion, exceeding consolidated liabilities of $66 billion, with excess reserves equaling at least $960 million.

In addition to reducing its secured loans as committed, the report also shows Tether ended 2022 with zero commercial paper.

https://cointelegraph.com/news/tether-assets-exceed-liabilities-in-new-reserves-report-by-bdo

Not saying that they could be trusted 100%, but base on the articles and the accounting firm, that they have a lot of surplus and could be really 1:1 with USD and even more if there is needed or if it de-pegs as the case of other stable coins.

Of course, the auditor firm will also put a disclaimer at the end.

So I guess we still need to be very careful.

[dothebeats]

Trust is a very heavy concept and I wouldn't throw it around for free. Perhaps I can use them to a certain extent, but to fully trust them is dangerous. While they may have already showed proofs that they are in fact capable of matching whatever amount of USDT they put out in the market, I still can't help but think that they can easily pull the plug if they want to and they'll just point their fingers to anyone when the going gets rough. But I guess the best course of action to do when you need to deal with USDT is this: once you have completed your transactions that require USDT, change it to a crypto that you really want to have and put it in your wallet.

[Natalim]

Well, I'd never see or even think that USDT can't be trusted but yes, we also have to consider the level of trust and it can be applied in all stablecoins, not only for USDT. For many negative issues that happen to stablecoins, we can't just simply remove our fear and think that this might happen to USDT anytime. I'm also using USDT when moving my coins to our local currency and it just took a few minutes to finish that is why I don't have any worries about using it as I'd never hold this for too long.

[el kaka22]

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

I think that there's no stable coin that has become the most stable coin. Any of them have disavantages for the holders. The only stable tokens that fully regulated look more credible for me. In my opinion if stable tokens must be issued based on the regulation framework to make sure it will not have any risk. People feel doubt with USD but millions of people are still using it. I think that as long as there are millions keep usiing and i have no prblem with it

I think regulation for a stablecoin will always be an issue, the main reason for that is the fact that it is pegged to dollar most of the time, and that means you are creating a "fake" dollar, and that will not be seen as a good thing by the government ever, it would be pretty near impossible for US government to make it regulated and accepted for example, maybe some smaller nations could but that would still be tough with the fear of sanctions.

All in all, I would say that this is a tough question and I do not trust USDT to start with, but I can't say that I trust any of the other stablecoins neither, they are all too risky in my opinion.

[lalabotax]

Although there are so many accusations and FUD about USDT to be a scam, failed project, and also a risky stable coin, in fact, so far, this becomes most used stable coins in the crypto market. We cannot deny how this coin always existed in the exchanges, always having bigger pairs so that we can meet easier pairing in trading. And so far, I have no problem with the issues. As long as we are also analyzing and watching the progress of the stable coin possibilities, I think it is still fair to use this as a favorite stable coin. But once more, always watch out.

[Apocollapse]

Although there are so many accusations and FUD about USDT to be a scam, failed project, and also a risky stable coin, in fact, so far, this becomes most used stable coins in the crypto market. We cannot deny how this coin always existed in the exchanges, always having bigger pairs so that we can meet easier pairing in trading. And so far, I have no problem with the issues. As long as we are also analyzing and watching the progress of the stable coin possibilities, I think it is still fair to use this as a favorite stable coin. But once more, always watch out.

Most used doesn't always mean it's trustworthy and has no way become a dead coin, anyone which still use USDT are have risk if the SEC want to audit and regulate this coin. The reason why all of centralized exchanges are add USDT because it's the most used stable coin and high volume, if in the future DAI or USDC overtake USDT, every centralized exchange's eyes will look into DAI and USDC, not USDT.

When there's a big problem on USDT, you're already late to convert your USDT to other coin. If you think USDT isn't trusted, what's the point for holding it and watching it everyday?

[Strongkored]

One thing we have to be aware of when we want to secure assets by converting them to stable coins is that maybe we will be able to avoid the rapid fluctuations in assets but you can lose everything because crypto is very unpredictable, many hate fiat because its value will decrease due to inflation but can't it is undeniable that fiat is safer than stablecoins, if you want to have a stable coin it would be better to have it in several types not just one type to avoid unexpected events.

[wajik-tempe]

In terms of the most credible stablecoins in the crypto space, that can be a subjective matter and depends on the individual's risk tolerance and investment goals. Some of the most well-known stablecoins include Tether, USDC, and DAI, each of which has its own strengths and weaknesses. In case of tether, it continues to be widely used and traded in the crypto market. Additionally, tether has taken steps to improve transparency, such as undergoing regular audits and publishing regular updates on its reserves.
So i think, with current market condition and this coin has been here for a long time, i'm pretty sure it's trustable

[Dr.Osh]

since getting to know crypto, I only use two stablecoins, USDT and BUSD. USDT is the stable of coins I use the most. Even though there is so much negative news about USDT, however, until now USDT has remained a stablecoin with very large volumes. that's why I still use it and make it the top choice for stablecoins.

If it's a matter of trust, I don't trust USDT 100%. I am only limited to using it and making it the main choice. However, since the UST incident, I have become less trusting of USDT. However, I still use it even though I don't keep my assets long-term in USDT.

[vv181]

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

There will always be a single point of failure when we are talking about stablecoin within this space, an algorithmic one is prone to its systemic pressure, one can't guarantee it will always get pegged. To nitpick an example, UST is the failure one. In another hand, asset-backed stablecoins are only an IOU, they can only be as middlemen, and that is the exact possibility of failure. You better use the real FIAT, if one exchanges have that option. Otherwise, just use a popular stablecoin for short-term usage.

[traderethereum]

just use a popular stablecoin for short-term usage.

This is what I do with stablecoins because when there is an increase of one coin in a stablecoin pair, I sell it to withdraw my profits and later the stablecoin I get is to buy bitcoins.
I rarely hold stablecoins for too long because I prefer to use them to invest in bitcoin, especially when the price is crashing like it is now.
But if market conditions are good, maybe holding stablecoins will be good while waiting for market conditions to change so that we buy one or several coins with those stablecoins.
Maybe people can hold Fiat like you suggest because Fiat is backed by your government and keep not stablecoins but bitcoins

[lixer]

Yeah, i've seen all the fud as i've been around so long and it's mostly from people who don't like the centralized nature of the whole thing. However if we want adoption we need to deal with pretty high level of centralization involved and some people don't like it. The fact that usdt is 100% backed, but not all of them are backed with usd is somewhat troublesome, but even in case of a bank run everyone would eventually get their dollars. And that's not the case even with real BANKS so i am thinking people are overreacting.

Many of the fudders seem to came from a time when bitfinex got hacked and didn't like the way Ifinex dealed wih that. And since iFinex Inc owns Tether i think they just wanted to hurt them.

Maybe those FUDs mostly came from the Bitcoin supporters. They are only making a revenge because Bitcoin was also being bashed by those who are into centralizations. Adoption can still be attained even though without the help of these stable coins. Remember there are no stable coins before but bitcoin still manage to grow big.

It's just there are people who can't accept the fact that they can't control Bitcoin so they produce something which they can be able to control. They claim that Tether is backed but I think it wasn't 100%. This is why some are sceptical about it and this is why I never use it. I am already happy and contented with what Bitcoin has to offer.

[cafee_orange]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

for stable coins like tether USDT of course I personally have full trust for him as a Stablecoin, and Tether usdt for me is really a stable coin that is worth using because it has security in storing Value. But if you are a trader who wants to benefit from tether USDT I think you have wasted your time because in tether USDT there is no market fluctuation, but to trust tether USDT I really believe in that if we function it as a store of value.

[Ziskinberg]

In the past few days, I use to convert my Bitcoin to stablecoins when the bear season comes to make it safe without realizing the risk of doing. I'd never thought that thing before because I trust stablecoins like USDT and BUSD but after the Luna scam issue, it open my eyes to a mistake in converting my Bitcoin to stablecoins. Not really I don't trust USDT or BUSD but I think we need to anticipate the possibility of funds being frozen as most rumors have come out regarding such things.

[justdimin]

Although there are so many accusations and FUD about USDT to be a scam, failed project, and also a risky stable coin, in fact, so far, this becomes most used stable coins in the crypto market. We cannot deny how this coin always existed in the exchanges, always having bigger pairs so that we can meet easier pairing in trading. And so far, I have no problem with the issues. As long as we are also analyzing and watching the progress of the stable coin possibilities, I think it is still fair to use this as a favorite stable coin. But once more, always watch out.

Most used doesn't always mean it's trustworthy and has no way become a dead coin, anyone which still use USDT are have risk if the SEC want to audit and regulate this coin. The reason why all of centralized exchanges are add USDT because it's the most used stable coin and high volume, if in the future DAI or USDC overtake USDT, every centralized exchange's eyes will look into DAI and USDC, not USDT.

When there's a big problem on USDT, you're already late to convert your USDT to other coin. If you think USDT isn't trusted, what's the point for holding it and watching it everyday?

We have seen so many "most used" before that went down. BCH for example was a top 5, even a top three at some point coin, look where it is now. USDT could be most used as of right now, but that doesn't change the fact that it is both losing attention towards others now, and people are fearing stablecoins a lot more now.

Combine those two and you will see that USDT and all the other stablecoins will lose some attention in the near future and we shouldn't be really trusting them. I personally do not trust them and I am not planning on trusting them in the future neither. If something is not decentralized, it doesn't worth investing into if you ask me.

[abel1337]

Not that much, Number one reason why I don't hold USDT is because it is not pegged 1:1 by a real dollar. USDT has face this issues before and they have escaped it multiple times already. It is the most widely used stable coin in the market right now and the there are so many users who don't know or don't care about the issues of USDT. I personally don't have a USDT (ERC20) on my wallet but I do have it on my CEX account. I'm only using it for short and small transactions and I don't let it  get out of my CEX account. The advantage of it is, it is widely accepted and has pair for most crypto on an exchange so for the comfort reasons, I'm using it even there's a risk in it.

[Jackl87]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.
I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.
My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?
Thanks in advance for more experienced folks for sharing their insight!

I am also not really a crypto expert, even though i started to learn about cryptos back in 2017 but i think USDT has a kinda dubious reputation for a reason. As far as i know the main reason why a lot of people are skeptical if USDT is really safe and stable enough even, when a big crash happens agin is the fact that a few years ago the company behind USDT changed the wording regarding their backing of USDT from "we have enough real USD to back every USDT minted" to "we have enough reserves to back every USDT that is minted" but no one really knows what kind of reserves they are talking aobut and if they even exist.
As far as i know they have started to publish infos about their reserves now, so maybe that big criticism is gone now.

[mdzahed134]

I don’t trust USDT but i'm using it from the last a few years because i have to trade with it, but i didn’t hold it for the long time. If you wanna to hold in long term i don’t recommend it because your coins can be freeze at any time. USDC, DAI a bit trustworthy instead of Tether (USDT) also you can use BUSD. But i would not like to hold any stablecoin in the long run.

[rojan]

USDT is a valuable and trusted peg form long time and must of the investors like USDT for hold and investment too. i my self trust USDT and i use it for holding also for investment. and USDT is easy to sell with my country fiat money that's why i use USDT more. But I avoid USDT for higher amounts.  Bitcoin is slightly more reliable in that regard. and i mean USDC is must reliable in stablecoin for higher amount holding.

[tvplus006]

...My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space? ...

There will always be a risk that any stablecoin may become worthless. Accordingly, it is impossible to talk about full confidence in any stablecoin. Nevertheless, we are forced to use stablecoins if we are engaged in daily trading. No, if you have free funds, then the best solution would be to exchange them for fiat using p2p.

[Mr. Magkaisa]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

  -    My personal belief and knowledge of Tether(USDT) helps me and also helps most of the community here in the crypto space through P2P transactions.


That's why even though it is a type of stablecoin, it can be said that all of us here are benefiting from Tether, this is an undeniable fact. Also because of this, I save a lot in making transactions using this stablecoin whether it's a deposit or withdrawal.

[Abiky]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

I wouldn't trust Tether if it were the last stablecoin on Earth. The fact that the issuing company won't provide proof of reserves, makes me skeptical about it. A USDT implosion would certainly have a bad impact over crypto market prices. Other stablecoins could be at risk too, especially if they're unable to retain their dollar peg for long.

If there's one stablecoin I trust, that would be USD Coin (USDC). That's because it's backed by prominent crypto companies such as Circle and Coinbase. Not only that, but the stablecoin has provided proof of its USD holdings. As much as I like USDC, I wouldn't put all of my life savings into it just to be safe. Given the fact that stablecoins come with their risks, one would have no other choice but to turn crypto into cash for safekeeping. At least, we have plenty of options to choose from. Who knows how long stablecoins will last? Just my thoughts

[goaldigger]

There might be issues with stablecoins right now because of what happened last year, I can still say that the you can still trust the top stablecoins especially with USDT but of course never go all in and you still need to take the risk that you can afford.

I still trust USDT but I don’t hold it, I still prefer to hold Bitcoin and only use stablecoins for my trading activities, also don’t hold on any exchanges because it not safe.

[siedemtrzy]

I trust them enough to make transactions with it in OWNR wallet once in a while. But I don't trust a single stable to hold it for months or so, but no one uses it like that anyway.

[cryptoaddictchie]

I still trust USDT but I don’t hold it, I still prefer to hold Bitcoin and only use stablecoins for my trading activities, also don’t hold on any exchanges because it not safe.

Thats better I guess. Usdt are good for trading purposes due to the volume on exchanges but once you are the onr using it always trade it for fiat via p2p or choose a major coin like btc and eth to hold your asset. We dont know when usdt could gone wrong or become same like what happened to ust. Since some events in the past shows the history of usdt that has some frozen asset which clearly says that decentralized couldnt use on their tokens.

Imagine they could freese asset of whoever they wanted too.

[d3nz]

I still trust USDT but I don’t hold it, I still prefer to hold Bitcoin and only use stablecoins for my trading activities, also don’t hold on any exchanges because it not safe.

Thats better I guess. Usdt are good for trading purposes due to the volume on exchanges but once you are the onr using it always trade it for fiat via p2p or choose a major coin like btc and eth to hold your asset. We dont know when usdt could gone wrong or become same like what happened to ust. Since some events in the past shows the history of usdt that has some frozen asset which clearly says that decentralized couldnt use on their tokens.

Imagine they could freese asset of whoever they wanted too.

I guess that this only applies if there is a problem with the exchange, and they only hold/freeze the account if there is an anomaly on it against the AML.

USDT is safe as long as there is no de-pegging that will happen and hoping it will not since a lot of holders/traders will get affected by it.

[bittraffic]

I still trust USDT but I don’t hold it, I still prefer to hold Bitcoin and only use stablecoins for my trading activities, also don’t hold on any exchanges because it not safe.

Thats better I guess. Usdt are good for trading purposes due to the volume on exchanges but once you are the onr using it always trade it for fiat via p2p or choose a major coin like btc and eth to hold your asset. We dont know when usdt could gone wrong or become same like what happened to ust. Since some events in the past shows the history of usdt that has some frozen asset which clearly says that decentralized couldnt use on their tokens.

Imagine they could freese asset of whoever they wanted too.

I guess that this only applies if there is a problem with the exchange, and they only hold/freeze the account if there is an anomaly on it against the AML.

USDT is safe as long as there is no de-pegging that will happen and hoping it will not since a lot of holders/traders will get affected by it.

Freezing the amount of USDT you have is the only threat to it unlike what BUSD threat have.

Now that we know USDT and USDC are untouchable by SEC for they are issued by US companies, I guess there is more to trust these stablecoin than any stablecoin issued by anyone. Therefore, USDT is safer at least that's what it appears to be.

[cryptoaddictchie]

Now that we know USDT and USDC are untouchable by SEC for they are issued by US companies, I guess there is more to trust these stablecoin than any stablecoin issued by anyone. Therefore, USDT is safer at least that's what it appears to be.

Maybe just dont trust these stablecoins. There are grounds to what limits could happen in the future provided even they are in the united state issued. Who knows if this is just a fud lingering on busd, but every stablecoins has their own issue and we must at least remember that the only trusted to be fully decentralized ia btc so far.

[JANUS23]

As it stands right now, USDT has withstood the test of time and trouble, so yes, I would trust it. Next up is USDC and then maybe BUSD

[eaLiTy]

~
USDC is the most trusted Stablecoin for me because it is founded by Circle which is a fully regulated company. You can assure that your USDC fund is backed 100% by fiat since they always have an audit unlike USDT. I would say BUSD since they are stablecoin of Binance but since Binance is now being target by US regulators, There’s a chance that they will suffer same fate with FTX with one wrong move of CZ. For now BUSD is still safe but if you are looking for long term reliability, Choose USDC stablecoin.

No USDC is not 100% backed by fiat, they themselves claim that they are holding short term government bonds which is less risky, i am not sure about the percentage they are holding in government bonds and fiat as i am yet to review their audit report but overall it is the safest stable coin right now in this space and they are regulated but i do not trust the rest of the hyped so called stable coins.

[nakamura12]

Of course I would also trust USDT as it existed already for a long time and many people use USDT if the BTC price is decreasing to maintain the value of their money. If you have $2000+ and BTC price is decreasing from $30k to $20k then buying USDT will keep your balance at $2000+ unlike keeping it in BTC where your $2000+ could be $1900+ and below.

[tvplus006]

...Now that we know USDT and USDC are untouchable by SEC for they are issued by US companies, I guess there is more to trust these stablecoin than any stablecoin issued by anyone. Therefore, USDT is safer at least that's what it appears to be.

The issuer of BUSD is also an American company - Paxos Trust Company, and this was the reason that they had to comply with the NYDFS order to stop issuing BUSD. So the closer the company is to the American regulator, the more likely it is that at some point they will be under their close attention.

[MiF]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

Well for me i trust usdt i am in crypto since year 2016 and there is no big negative issue that i hear so far from usdt or in any different stable coin in crypto i think it is because it is stable it is good for staking. I believe that most of the coin that is scam is the coin that unstable or new coin that is still doing marketing not all but most or many more are scam than the legit one.

[rodskee]

I am not here to talk about trust instead about how I use it, USDT is the fastest way of conversion for me to get fiat so  about trusting ? i care nothing as i only use this for easy conversion .

Of course I would also trust USDT as it existed already for a long time and many people use USDT if the BTC price is decreasing to maintain the value of their money. If you have $2000+ and BTC price is decreasing from $30k to $20k then buying USDT will keep your balance at $2000+ unlike keeping it in BTC where your $2000+ could be $1900+ and below.

well  , Yeah it is safe to use but best not to trust for long time, maybe  a scape goat when there is a dumping happening .

[Bialke]

Negative, I do not trust USDT.

USDT is backed with ~0,03 USD per 1,00 USDT.

There are a lot of shady guys in the space of Tether. F.E. guys which were selling god's mode in online poker games on their online poker platforms.

Tether Ltd. is a mail box company.

[DeathAngel]

Tether is definitely the most trusted stablecoin in circulation. It has been going for a long time now & has a good track record of trust & reliability.
 
Tether has been subject of so much regulatory & governmental pressure but it is still here standing. I dediniteoy have a level of trust in Tether.

[rozak]

I don't like stable assets like USDT. or even BUSD from Binance. some network developers also develop their coin stable. but I still don't like stable assets.
discussions regarding USDT issues in the past have also been very lively. but until now, there are still many of them who use it for trading. I trade on Binance. so I use BUSD. but for saving, I don't use stable assets. I keep my assets in Bitcoin. not a stable asset. I'm more comfortable with that. don't know about other traders who might prefer stable assets to store assets because the value won't experience such a large movement.

[Bobrox]

I don't like stable assets like USDT. or even BUSD from Binance. some network developers also develop their coin stable. but I still don't like stable assets.
discussions regarding USDT issues in the past have also been very lively. but until now, there are still many of them who use it for trading. I trade on Binance. so I use BUSD. but for saving, I don't use stable assets. I keep my assets in Bitcoin. not a stable asset. I'm more comfortable with that. don't know about other traders who might prefer stable assets to store assets because the value won't experience such a large movement.

Still not close opportunity for any stable coin drop later learned from what happen with USTC as Terra Network stable coin, I sure there are not any USDT chain are stable although with your priority as BUSD. I like trade with BUSD pair in Binance because without fees but I converted all my assets in local fiat and not sure for longer time holding assets in stable coins.

But comparison with other stable coin kinds I think BUSD is potential for the future without get any trouble yet like USTC, but can't guarantee with how long with BUSD keep safety as stable coins assets.

[hd49728]

Still not close opportunity for any stable coin drop later learned from what happen with USTC as Terra Network stable coin, I sure there are not any USDT chain are stable

The biggest problem of UST stable coin is its algorithm. That is an algorithmic stable coin that is bad by design and it was more terrible by bad asset management from Terra team for their treasury. It is terrible to store funds in volatile assets and consider that your treasury will be not volatile in bad days.

The bad decision of Terra team to choose between $LUNA and $UST to protect makes that collapse worse.

I like trade with BUSD pair in Binance because without fees but I converted all my assets in local fiat and not sure for longer time holding assets in stable coins.

But comparison with other stable coin kinds I think BUSD is potential for the future without get any trouble yet like USTC, but can't guarantee with how long with BUSD keep safety as stable coins assets.

Binance are creative with their products, adaptive with new trends very well but they are more impressively to be so disciplined with important things. They prioritize security of their platforms, user funds and their treasury including a part assigned for BUSD too.

If Binance won't change their management style, I don't think their stable coin will be in crisis. Fud can come to find Binance and BUSD but won't be able to burn them to the ground.

[o48o]

USDT is backed with ~0,03 USD per 1,00 USDT.
There are a lot of shady guys in the space of Tether. F.E. guys which were selling god's mode in online poker games on their online poker platforms.
Tether Ltd. is a mail box company.

I don't know who told you this but you are spreading fud and misinformation that's only made to hurt the money inflow to crypto.
It's fully backed, not all of them are in dollar bills. Just like in a bank. You are not able to withdraw everything in dollar bills if you are rich. Or at least it will be made very hard for you and they will need a good reason for you to do so. At least it wont be instant. Anything but

Here's the latest independent audit on Tether reserves (31.12.2022):
https://assets.ctfassets.net/vyse88cgwfbl/53L8YRM4ZHCEeqlpKbc3Q8/2e6cbcd1593b3e5ea867718c5938d6c8/Std_ISAE_3000R_Opinion_BDO_31-12-2022_Tether_CRR.pdf


And i can think maybe handful of crypto companies that are brick and mortar business.

[Pierre 2]

I was very very worried about Tether in former bull rallies. But its some sort of trustable stable coin to me after many years passed with no issues. I always liked usdc more sadly but pairs with usdt are lot more common in crypto exchanges. Its like necessary stable coin to hold in some portions because of this. In my opinion Bitfinex can back Tether many years to come so, I don't think people should be worried a lot.

[SirLancelot]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

This has been asked so many times and for a millionth time I have to say no. Why do people want to trust these stablecoins? What is the purpose of "trusting them? I understand that you want to move your money to fiat and not be in crypto for a while, but why not do it with fiat directly and prefer to go with stablecoins?

I get that there are some pairs and futures and all that which you can't do with fiat, but just don't do them as a solution? I have my money in either fiat or in crypto and that's it, no stablecoins what's so ever. Never trust stablecoins, you never need to, let them keep proving they are trustworthy over and over again and yet still don't trust them, because why would you ever need to?

[crzy]

I was very very worried about Tether in former bull rallies. But its some sort of trustable stable coin to me after many years passed with no issues. I always liked usdc more sadly but pairs with usdt are lot more common in crypto exchanges. Its like necessary stable coin to hold in some portions because of this. In my opinion Bitfinex can back Tether many years to come so, I don't think people should be worried a lot.

Despite of the fud with stablecoin, I still see USDT as one of the good option for trading but not for your holdings since I still prefer to Hold Bitcoin than any stablecoin. If there’s another problem with stablecoin, this can ruin the trust of the public and the cryptomarket can’t afford that to happen again, USDT looks more established though and being supported by many, have this coin just you ready money to buy any crypto if there’s an opportunity.

[molsewid]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

I strongly believe in tether. I've been using it for years, and it never fails my expectations. To all the kind of stable coins in the market I prefer usdt over usdc nad busd. Just like other coins in the market like btc, eth and bnb usdt also faces different market conditions and it still there and it never vanish and that's cool about it. Also, local merchants in here accept usdt as the payment for goods.

[ivankoh]

With the stablecoin status changing after the BUSD crash, even though I would trust usdt in most of my transactions, that doesn't mean trust in it is permanent.  User structure will change for the upcoming stablecoin, USDT is also highly questionable with no formal audit and 850 million in tunneling with bitfinex in the past.  It seems I once again acknowledge and firmly believe that decentralized stablecoins are the future of stablecoins.

[suzanne5223]

The only benefit I see in USDT is it being the first stablecoin in the cryptocurrency market. I don't know what the crypto detectives/scam busters said about Tether but I confirmed the project to be built on lies and they also lend users funds to an exchange which I have forgotten its name now.
That's why I never trust the USDT because once bitten, twice shy.
The stablecoins I found credible in the crypto market space are DAI and BUSD but if we are talking about privacy stablecoins I will go for UUSD

[trendcoin]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

I never trust it, but I use it when I have to... Blockchain technology has removed our obligation to trust third parties. Now we are creating an intermediary that can put a block on our money with our own hands. We dig our own grave with our own hands, but it's okay as long as we don't fall into it. That's my whole opinion on stablecoins. I admit that they are useful, but I emphasize that they are not reliable.

[Shobhikhan_007]

50% Yes 50% No.

Because they have long history and survive more times. But honestly this is a also another cryptocurrency. In crypto anything can be happen in minutes.

[Tony116]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

I never trust it, but I use it when I have to... Blockchain technology has removed our obligation to trust third parties. Now we are creating an intermediary that can put a block on our money with our own hands. We dig our own grave with our own hands, but it's okay as long as we don't fall into it. That's my whole opinion on stablecoins. I admit that they are useful, but I emphasize that they are not reliable.

For cryptocurrencies, the most reliable coin is bitcoin, the rest can't be trusted because they are all centralized, and stablecoin is one of them. But they are undeniably an integral part of the market, and we always need them, stablecoins and centralized exchanges, all of which are very important to the market.
Many people are upset and hate stablecoins and CEX, but I believe that the market would not be able to develop without them. It will be very difficult for beginners without USDT or CEX.

[Abiky]

As it stands right now, USDT has withstood the test of time and trouble, so yes, I would trust it. Next up is USDC and then maybe BUSD

USDT may be old, but that doesn't mean it's going to last forever. After all, it's a centralized stablecoin. If the issuing company is unable to deliver as promised, then USDT will lose its peg for good. Basically, any centralized stablecoin is at risk of going all way down the drain. If it's not backed by the US government, don't count on retaining its stability anytime soon.

You'd be better off selling your crypto to USD directly for complete peace of mind. It seems that regulators will tighten their stance against stablecoins, so maybe there's hope after all? Just my opinion

[cryptomaniac_xxx]

As it stands right now, USDT has withstood the test of time and trouble, so yes, I would trust it. Next up is USDC and then maybe BUSD

USDT may be old, but that doesn't mean it's going to last forever. After all, it's a centralized stablecoin. If the issuing company is unable to deliver as promised, then USDT will lose its peg for good. Basically, any centralized stablecoin is at risk of going all way down the drain. If it's not backed by the US government, don't count on retaining its stability anytime soon.

You'd be better off selling your crypto to USD directly for complete peace of mind. It seems that regulators will tighten their stance against stablecoins, so maybe there's hope after all? Just my opinion

I agree on certain extend but there are independent auditors who have somewhat cleared Tether and USDT and says that it is backup 1:1 and that they have extra, more money to cover the loses.

While on the other hand, there are attacks by SEC on other stable coins and somewhat deemed it as securities.

So it could be the beginning of the tightening on stable coins but I think USDT might survived in the long run, just saying.

[Locksmith Direct]

I personally do not fully trust any coin unless it is truly decentralised. This instantly rules out all stablecoins, including USDT. This isn't to say I won't utilise it, USDT is a very helpful tool, but I wouldn't hold large amounts of my capital in it for a long period of time. Over the years, USDT has had a lot of scam call-outs, as you can see people discussing in this thread, but it has stood the test of time and, because of this, is likely the least untrustworthy stablecoin to use if you have to use one.

[Dickiy]

With the stablecoin status changing after the BUSD crash, even though I would trust usdt in most of my transactions, that doesn't mean trust in it is permanent.  User structure will change for the upcoming stablecoin, USDT is also highly questionable with no formal audit and 850 million in tunneling with bitfinex in the past.  It seems I once again acknowledge and firmly believe that decentralized stablecoins are the future of stablecoins.

BUSD crashed? I arrived on the day that no one confirmed that BUSD was destroyed. I think BUSD got the problem with licensing and SEC staff forced Paxos to register BUSD in New York's federal security laws, and in the reaction Paxos as a BUSD liquidator refused the SEC's request because they believed there was no any fraud in the project they are doing and Paxos himself claims that their BUSD is 1:1 to the dollar, so I think in the BUSD case it's not final and we also don't know the final conclusion of this case, but it's not a good thing either if we report that BUSD crushed because I thought it would give the market a panic.

[Xal0lex]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

Bitcoin is also constantly being talked about, that it is all a scam and soon bitcoin will die. But, nevertheless, this does not prevent many users from using this asset. Although it is not quite correct to compare some stablecoin with bitcoin, but various legends about USDT have been around for quite a long time, which does not prevent USDT from growing in capitalization and being the most liquid stablecoin on the market. So it is better to do your own research and never make decisions based on various stories on the internet and rumors.

[Yogee]

With the stablecoin status changing after the BUSD crash, even though I would trust usdt in most of my transactions, that doesn't mean trust in it is permanent.  User structure will change for the upcoming stablecoin, USDT is also highly questionable with no formal audit and 850 million in tunneling with bitfinex in the past.  It seems I once again acknowledge and firmly believe that decentralized stablecoins are the future of stablecoins.

BUSD crashed? I arrived on the day that no one confirmed that BUSD was destroyed. I think BUSD got the problem with licensing and SEC staff forced Paxos to register BUSD in New York's federal security laws, and in the reaction Paxos as a BUSD liquidator refused the SEC's request because they believed there was no any fraud in the project they are doing and Paxos himself claims that their BUSD is 1:1 to the dollar, so I think in the BUSD case it's not final and we also don't know the final conclusion of this case, but it's not a good thing either if we report that BUSD crushed because I thought it would give the market a panic.

Wrong choice of word perhaps but the point remains that it's issued by a centralized platform so there's always the chance of government interference.

I'm with the member that said it's better to trust bank issued fiats than centralized stable coins. At least you no longer have to worry of another UST incident.

[KingsDen]

There is nothing wrong with USDT. Right from the first day I entered into the cryptocurrency market till today, I have been hearing the FUD about USDT. The story of it being centralized, the story of it being closed source and the owners keep minting new USDT illegally. The story of it being freezen by US government.
Some of the stories are even laughable but yet the coin is still strong. The last time I checked that is the second largest cryptocurrency in adoption and cap after bitcoin.

[samcoin]

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

I have been into crypto for 7 years now, and USDT was the strongest and most standing stablecoin. I remember when it dropped down to $0.7 due to widespread false information, then it managed to restore the peg again. However, you can't find a crypto currency that's 100% guaranteed to stand forever, because it's a global domain and the war is still on fire between world leader countries in order to control it. In my opinion, USDT is a good stable coin, I personally use it, but can't take the responsibility of recommending it to others.

Everyone will just have to end up with other stable coins as follows in no particular order aside from USDT;

• USDC
• BUSD
• DAI
• TUSD
• PAXOS
• TUSD

Those are the other ones that are being mostly used but if you're for the decentralized, the closer one is dai.

It's turning out that BUSD holders transfer their BUSD to USDT because of the recent SEC lawsuit against Paxos. I believe USDT is stronger than any of the mentioned dollar-backed stable coins. On the other hand, crypto-backed stablecoins like DAI look a good choice, if the SEC decides to shut down all dollar-backed ones.

[bittick]

I'd say it's always better if you think in your investments you've made quite the money you just withdraw it, even though i myself trust the stabelcoin enough because until now it's all fine with me nothing worst happening, regardless doesn't mean they couldn't be collapsing, the thing with these coin is that it just takes one big rumour to make it lose its value.

[GreatArkansas]

For me, I trust stablecoins somehow. Because they will not get a huge market cap, or billions of markets if they are not trusted at all. But we must also be careful because there could be also a threat just like what happened on Terra stablecoin before which lost its value. So for me, it is also possible to happen to some stablecoins right now.

For me, if I will just convert my bitcoins or other altcoins to stablecoin, I rather hold some US dollars or in my local fiat currency than to hold stablecoins.

[coinremitter]

let's start this from the beginning, in 2010 when Bitcoin was introduced, people were talking negative stuff about it. But now you know the rest. However, coming on the Tether. It's one of the stablecoins, it's obvious that people are really talking shit about it.

Coming to the value of tether, it's one of the stablecoins that we all know the price rarely fluctuated. We have seen many people not only trading in tether but they are also accepting it as a payment on their website.

In other words, it merely depends that what people used to think about cryptocurrencies before, conversely, now the whole thing is changed.n People and merchants are moving towards crypto.

The conclusion to this conversation is that tether has a bright future in terms of payment as well. Because we as a crypto payment gateway are seeing a rise in tether payment as well.     

[Dr.Osh]

There is nothing wrong with USDT. Right from the first day I entered into the cryptocurrency market till today, I have been hearing the FUD about USDT. The story of it being centralized, the story of it being closed source and the owners keep minting new USDT illegally. The story of it being freezen by US government.
Some of the stories are even laughable but yet the coin is still strong. The last time I checked that is the second largest cryptocurrency in adoption and cap after bitcoin.

Well, FUD will continue to exist for every crypto or business that people are interested in. even BUSD also has FUD. However, so far I still make USDT the first choice to use a stablecoin. however, I couldn't hold it in for too long due to the incident that happened to UST. In fact, until now USDT is still one of the stablecoins that have a large volume. so, I think it's probably the best one to use. If you don't believe it, then use alternatives like BUSD or other large-volume stable coins.

[KingsDen]

There is nothing wrong with USDT. Right from the first day I entered into the cryptocurrency market till today, I have been hearing the FUD about USDT. The story of it being centralized, the story of it being closed source and the owners keep minting new USDT illegally. The story of it being freezen by US government.
Some of the stories are even laughable but yet the coin is still strong. The last time I checked that is the second largest cryptocurrency in adoption and cap after bitcoin.

Well, FUD will continue to exist for every crypto or business that people are interested in. even BUSD also has FUD. However, so far I still make USDT the first choice to use a stablecoin. however, I couldn't hold it in for too long due to the incident that happened to UST. In fact, until now USDT is still one of the stablecoins that have a large volume. so, I think it's probably the best one to use. If you don't believe it, then use alternatives like BUSD or other large-volume stable coins.

The cryptocurrency market is just characterised by Fud. You can't help it and if you don't that it's how it works you will make thousand decisions in a second and in the end heavens won't move. This industry is full of risk, you simply chose the risk you can contain and ignore others because you cannot be completely safe but you can lose all completely if care is not taken.

[uneng]

There is nothing wrong with USDT. Right from the first day I entered into the cryptocurrency market till today, I have been hearing the FUD about USDT. The story of it being centralized, the story of it being closed source and the owners keep minting new USDT illegally. The story of it being freezen by US government.
Some of the stories are even laughable but yet the coin is still strong. The last time I checked that is the second largest cryptocurrency in adoption and cap after bitcoin.

I believe the only way you could assure there is nothing wrong with USDT would be if you were inside the company, having access to details of their business. Between trusting a private company and the government, I would still prefer to hold fiat, because at least that way we have the guarantee from the central bank we are going to be reimbursed up to some amount of money, if something goes wrong with the bank where we hold our money.

[FanEagle]

Even though there are so many people who do not "trust" it, there is also a situation where we have no other choice but to root for them. Because if we are right, and if it doesn't really go up somehow, then it is going to end up being a terrible situation for us and will cause us to lose a ton of money.

Even if you do not own a single cent of stablecoins, that doesn't save you because if something like USDT ever crashes, that means you are going to see the whole market crashing, and I mean crashing hard. That's 50+ billion dollars gone in a single crash, and many people will sell their crypto to run away and that will cause the biggest dip ever in crypto history.

[Abiky]

I agree on certain extend but there are independent auditors who have somewhat cleared Tether and USDT and says that it is backup 1:1 and that they have extra, more money to cover the loses.

While on the other hand, there are attacks by SEC on other stable coins and somewhat deemed it as securities.

So it could be the beginning of the tightening on stable coins but I think USDT might survived in the long run, just saying.

If USDT complies with the law, then I don't see any reason it will lose its peg sometime in the future. It's the oldest stablecoin in the market (as far as I know), so it's got nothing to lose. The good thing about USDT is that it lives on multiple Blockchain networks. This multi-chain approach would make it stand the test of time. Of course, that is subject to its ability to maintain USD reserves for long. It doesn't have protections unlike government-issued Fiat currencies. So if Tether goes down, all hell will break loose.

Crypto has always been about decentralization, so I'd steer clear from Tether if I want complete peace of mind. Who knows how far will the stablecoin go? Just my opinion

[Ahli38]

There really isn't a stablecoin that's really worth trusting completely. because everything has the same risk. However, for now, USDT is probably the safest. but still we should not keep our money in USDT long term. I think just use it when needed and make a temporary save. Actually initially I was very comfortable with BUSD. But after the fud attacked Paxos, I transferred everything to USDT. because actually if there is no fud on BUSD then I think more people will trust BUSD.

[Stedsm]

Why didn't you ask about BUSD @OP?
I know that USDT had been under the radar but after SEC's order to Paxos to stop issuing BUSD (that will be stopped from 26th Feb), I believe that most of these pegged stablecoins are nothing but coins that may burst like a bubble and will leave no value in your hands if anything unexpected happens (like what happened with UST stablecoin after its depeg). Don't trust these stablecoins too much and keep withdrawing your funds in your local currency or just buy and hold btc or any altcoin you believe in. I know that it's risky but not to the extent of what could happen when something bad hits against a specific stablecoin.

[posi]

There is nothing wrong with USDT. Right from the first day I entered into the cryptocurrency market till today, I have been hearing the FUD about USDT. The story of it being centralized, the story of it being closed source and the owners keep minting new USDT illegally. The story of it being freezen by US government.
Some of the stories are even laughable but yet the coin is still strong. The last time I checked that is the second largest cryptocurrency in adoption and cap after bitcoin.

I believe the only way you could assure there is nothing wrong with USDT would be if you were inside the company, having access to details of their business. Between trusting a private company and the government, I would still prefer to hold fiat, because at least that way we have the guarantee from the central bank we are going to be reimbursed up to some amount of money, if something goes wrong with the bank where we hold our money.

When it comes to risk, there is no safe place in the crypto market including bitcoin, if you can't accept the risk it's best not to invest in crypto including bitcoin. To be fair, nothing can prove that USDT won't crash, but so far, through thousands of Fuds, it's still standing, which shows that it hasn't had any problems so far, its use is still safe. Out of all the stablecoins circulating in the market, USDT remains the most trusted, most used, and has the largest market capitalization.

[leonair]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

There was a case against USDT due to which there was a panic about USDT at one time but the USDT company won the case and proved themselves innocent and freed from liability. So now everyone trusts USDT again and I do but big investors don't put much money in USDT.  They mostly prefer to hold USDC. Because USDC is by far a secure stablecoin. One person prefers one stable like USDT, BUSD, USDC etc.  So you can choose any one as you wish based on your own research

[Abiky]

Why didn't you ask about BUSD @OP?
I know that USDT had been under the radar but after SEC's order to Paxos to stop issuing BUSD (that will be stopped from 26th Feb), I believe that most of these pegged stablecoins are nothing but coins that may burst like a bubble and will leave no value in your hands if anything unexpected happens (like what happened with UST stablecoin after its depeg). Don't trust these stablecoins too much and keep withdrawing your funds in your local currency or just buy and hold btc or any altcoin you believe in. I know that it's risky but not to the extent of what could happen when something bad hits against a specific stablecoin.

I think you're referring to algorithmic stablecoins like USDD and UST. Those are prone to failure because they're not really backed by USD reserves. But I cannot say the same about USDT or USDC. These last two are issued by prominent companies in the crypto/Blockchain space. USDC's company (Circle) is regulatory-compliant, so it's likely the stablecoin will last for a really long time. USDT's company also does the same, although some people are skeptical about it due to being unable to prove its USD reserves for the Tether stablecoin.

I guess there are a lot more risks tied to a privately-issued stablecoin than a government-backed Fiat currency. To be on the safe side, just sell your crypto to USD instead of converting it to a stablecoin. Regulators are weighting down the industry, so time will tell us what will be the fate of stablecoins as a whole. Just my thoughts

[tvplus006]

I think you're referring to algorithmic stablecoins like USDD and UST. Those are prone to failure because they're not really backed by USD reserves. But I cannot say the same about USDT or USDC. These last two are issued by prominent companies in the crypto/Blockchain space. USDC's company (Circle) is regulatory-compliant, so it's likely the stablecoin will last for a really long time. USDT's company also does the same, although some people are skeptical about it due to being unable to prove its USD reserves for the Tether stablecoin...

A lot will depend on the position of the SEC and if it is recognized that BUCD is a security, then USDT and USDC will also have to register. And most likely they will do it on their own, without waiting for a lawsuit with the SEC. But I do not know what consequences this will have for the crypto market.

[TimeTeller]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

There was a case against USDT due to which there was a panic about USDT at one time but the USDT company won the case and proved themselves innocent and freed from liability. So now everyone trusts USDT again and I do but big investors don't put much money in USDT.  They mostly prefer to hold USDC. Because USDC is by far a secure stablecoin. One person prefers one stable like USDT, BUSD, USDC etc.  So you can choose any one as you wish based on your own research

I don't think everyone trust USDT. But a lot are still using USDT, that I know of.
I, for one, don't trust USDT to hold it long-term, only for trading purposes.
Way back in 2019, they admitted that they are not fully backed with assets.
From that time, I doubt about their claims up until now. Who can attest that they do have actual assets in place.
We are talking billions and billions of USDT here. And the audits, how honest they are with their results?

[Abiky]

A lot will depend on the position of the SEC and if it is recognized that BUCD is a security, then USDT and USDC will also have to register. And most likely they will do it on their own, without waiting for a lawsuit with the SEC. But I do not know what consequences this will have for the crypto market.

If the SEC classifies stablecoins as securities, two things could happen. Either issuing companies comply with securities laws or close up shop for good. Things are getting intense for crypto in the US, so it's likely the last scenario will unfold sooner than later. I think stablecoins would be better denominated in EUR than USD. Only time will tell us if stablecoin issuers will do such change within the not-so-distant future.

Honestly, I can't think of a stablecoin you could really trust since they're all issued by a private company. None of them are backed by the government, so there's always the risk of loss. Cashing out to Fiat would be your only option to avoid such risk. I only see stablecoins useful for day trading, not as something you would put your life savings into. The market will decide which stablecoins stay afloat and which ones will fade into oblivion. We already have decentralized cryptocurrencies, so there should be nothing to worry about. Just my thoughts

[RealMalatesta]

I don't think everyone trust USDT. But a lot are still using USDT, that I know of.
I, for one, don't trust USDT to hold it long-term, only for trading purposes.
Way back in 2019, they admitted that they are not fully backed with assets.
From that time, I doubt about their claims up until now. Who can attest that they do have actual assets in place.
We are talking billions and billions of USDT here. And the audits, how honest they are with their results?

I think the main reason we still use it even though we do not trust it that much is the fact that it is not going to be something simple to just stop using it. I mean the trust may not be there, but the utility is there which means that plenty of people will have to use it without wanting to.

If there was a better alternative that we could trust, something that is viable and available everywhere, then we would switch to that for sure but unfortunately that didn't happen and that's the issue. I believe that we couldn't really do something about it just yet, but when the time comes a better alternative will come out eventually for everyone.

[Ahli38]

I think the main reason we still use it even though we do not trust it that much is the fact that it is not going to be something simple to just stop using it. I mean the trust may not be there, but the utility is there which means that plenty of people will have to use it without wanting to.

If there was a better alternative that we could trust, something that is viable and available everywhere, then we would switch to that for sure but unfortunately that didn't happen and that's the issue. I believe that we couldn't really do something about it just yet, but when the time comes a better alternative will come out eventually for everyone.

yes you are right. we use Tether not because we have trust in the stablecoin. but indeed because at this time Tether is one of the best choices. because Usdt is the most widely available in almost all exchanges. before that I rarely used it. I use BUSD more often both in trading and for transactions. but looking at the current BUSD situation it is not good enough because FUD continues to corner BUSD. even I heard the latest news that Coinbase will be suspending BUSD trading on their current Exchange.

[Desmong]

Tether is a good stable coin and from analysis, it is the most used stable coin in the market. It has a great team and I am holding it because it is built under different giving investors opportunity to buy and hold based on there preferred network. Nothing is wrong with USDT so we can use it and not join anybody that will create fud for it.

[Abiky]

Tether is a good stable coin and from analysis, it is the most used stable coin in the market. It has a great team and I am holding it because it is built under different giving investors opportunity to buy and hold based on there preferred network. Nothing is wrong with USDT so we can use it and not join anybody that will create fud for it.

You can expect a huge crypto crash in the future if Tether fails. It's current the largest stablecoin in the market. Tether may live on multiple blockchain networks, but the companies' practices are quite shady. You'll never know when Bitfinex won't be able to honor the peg of USDT at some point in the future. There are simply a lot of risks that can't be ignored.

As I've said before, people are better off selling their crypto to Fiat instead of converting it to a stablecoin. That's because Fiat is backed by the full faith and credit of the government. The market will ultimately decide stablecoins' fate in the long run. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about. Just my opinion

[leonair]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

There was a case against USDT due to which there was a panic about USDT at one time but the USDT company won the case and proved themselves innocent and freed from liability. So now everyone trusts USDT again and I do but big investors don't put much money in USDT.  They mostly prefer to hold USDC. Because USDC is by far a secure stablecoin. One person prefers one stable like USDT, BUSD, USDC etc.  So you can choose any one as you wish based on your own research

I don't think everyone trust USDT. But a lot are still using USDT, that I know of.
I, for one, don't trust USDT to hold it long-term, only for trading purposes.

If no one trusts USDT why use it? People must believe that USDT is a good stablecoin and has real value which is why they use USDT. You can say that holding large amounts of USDT is another risk which is why people don't hold large amounts through USDT. But you can't say that the USDT is not trustworthy. Its market demand is huge.  And it is a perfect peg for traders

We are talking billions and billions of USDT here. And the audits, how honest they are with their results?

Are you a billionaire? Why are we talking about billions of dollars when we can't earn thousands of dollars or can't hold more than thousands of dollars in cryptocurrencies? I don't think it will be a problem if we keep the amount of income that we can earn and the amount of money that we can afford in USDT. Those who hold billions of dollars may wonder what stablecoin they should hold. But I think to hold high amount should hold through multiple coins like BTC, ETH, USDT, USDC, BUSD etc.

[AngellSky]

Unlike other stablecoins, usdt is a fairly profitable asset and provides real opportunities for keeping your funds on the blockchain.  I personally use trc20.  It also makes it easier for me to trade with ETS and cash out profitably.

[Jating]

Unlike other stablecoins, usdt is a fairly profitable asset and provides real opportunities for keeping your funds on the blockchain.  I personally use trc20.  It also makes it easier for me to trade with ETS and cash out profitably.

I don't know what you mean by profitable since it is a "stable" coin, which mean it is pegged to 1:1 to the US Dollar. Of course, everything is on the blockchain if that is what you imply for crypto.

Personally, I wouldn't say that a trust Tether (USDT), but it is functioning as designed to yeah I'm using it in some shape or form.

And withdrawals are very quick as well, and again, if you wanted to hedge your crypto against the price going down, stable coins is the way.

[borovichok]

I don't know what you mean by profitable since it is a "stable" coin, which mean it is pegged to 1:1 to the US Dollar. Of course, everything is on the blockchain if that is what you imply for crypto.

Personally, I wouldn't say that a trust Tether (USDT), but it is functioning as designed to yeah I'm using it in some shape or form.

And withdrawals are very quick as well, and again, if you wanted to hedge your crypto against the price going down, stable coins is the way.

Many times, I have avoided liquidation by either stocking more stable coins or transferring my cryptos to stable coins. Tether (USDT) is a stable coin that is also applied as exchange commissions for the numerous market transactions. It's crucial to understand the transaction network we employ when transferring our cryptocurrency to another exchange or making an offline withdrawal. For instance, TRC20 is highly recommended because its fee is lower and it is based on the Tron blockchain, while ERC20's fee is higher and it is built on the Ethereum blockchain. BEP-20 is built on the BSC network, but these processes are typically slow in terms of transferring cryptocurrency.

[ichsan ardi]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

There are many stablecoins in crypto, one of which is USDT, USDC, DAI, TUSD. I myself often use USDT or USDC, which is the most credible and of the two, I prefer USDT as far as I use USDT. what stable coin to choose but always be careful and do your own research this is not investment advice.

[nourse]

can u guys sell me a tether?? it is very expensive in our city.  1tether=50k toman
or any other suggestion u have.selling, exchanging and sending cryptocurrencies is not difficult for me at all
if i want to buy any cryptocurrency it will be calculated with the price of tether(1tether=50k toman) and this is not interesting at all

[dmitri.strelok]

I've been analyzing some of the most popular stablecoins currently, and I don't trust any. Nevertheless, I still think they are pretty useful and necessary currently, so I've chosen USDT as the most trustworthy for me. Why? Because of the alternatives:

1- DAI: looks to me just as wrapped USDC with extra steps and risky factors (i.e. most of the collateral backing it right now is indeed a centralized stablecoin...so if USDC collapses it will very likely kill it...and it has a lot of extra complexity in his inner workings that naturally add extra risks...So why the hell just not use USDC?)
2- RAI: It looks to me that decentralized stable coins are experiments right now, which are very dangerous to get involved in, have very complex mechanisms to wrap my head on, and depend on economics principles that I´m not certain they will really work. This coin sounds interesting and is backed 100% by ether, but when I looked on youtube for an interview with the creator, he had difficulties even clearly explaining its workings and principles in my opinion. I support this kind of experiment nevertheless, just don´t trust their principles until they have a lot of maturity in the market.
3- USDC: It seems very connected to the US financial system and government to me, so more easily exposed to regulatory risks, wallet bans, etc. Which is something I don´t like at all. Also, I suspect they have been causing most of the bad news about USDT for gaining adoption of their coin...But who knows, maybe I'm paranoid.
4- BUSD: I just don´t like or trust Binance at all and don´t want to have anything to do with them.

So that leaves USDT, a coin that:
1- Clearly doesn´t have everything backed 1-1 because Tether is doing the same business that banks have been doing for a long time with their fractional reserve system (so I don´t know why everyone is that surprised by this fact really...)
2- I think they are using banks in the Bahamas for their USD deposits (or I think I read about that...so, less regulatory risk)
3- It has been tested with a lot of bad news about the reserves and a lot of crypto bear markets...And the markets weren't able to do a bank run high enough to collapse it...

So, as I said, I don't trust any and I wouldn´t have much money on them, but I choose USDT.

[Woodie]

Tether has never had the best of starts as a cryptocurrency and the fact that it's centralised does give me the goosebumps but I think it's the risk most are willing to take to keep a 1:1 value for our money as it's a stablecoin.

Btw talking of trust, trust is something that doesn't come easy these days and I wouldn't toss it around that easily either not for any crypto coin...

Unlike other stablecoins, usdt is a fairly profitable asset and provides real opportunities for keeping your funds on the blockchain.  I personally use trc20.  It also makes it easier for me to trade with ETS and cash out profitably.

Tron based tokens have always been my favourite, the fees are super low and block times are just superb better than Bitcoin which can make you wait for several hours before getting your first confirmation.

[ololajulo]

Currently, we find ourselves without any alternative to Tether. Regardless of our personal preferences, we are constrained to it due to its status as the stablecoin with the largest market capitalization and liquidity, as well as its presence on major blockchains and exchanges. Tether's influence is growing, and it has become a reputable household name for stablecoins, as evidenced by its substantial profits in the first quarter of this year, which were three times higher than the previous year.

[Bolivar_Tony]

USDC is the most trusted Stablecoin for me because it is founded by Circle which is a fully regulated company. You can assure that your USDC fund is backed 100% by fiat since they always have an audit unlike USDT. I would say BUSD since they are stablecoin of Binance but since Binance is now being target by US regulators, There’s a chance that they will suffer same fate with FTX with one wrong move of CZ. For now BUSD is still safe but if you are looking for long term reliability, Choose USDC stablecoin.

I totally agree with you, USDC is been backed 100%, even though USDT have been in the loop for a very long time, I think in the beginning, they had some floated coins not been backed but with the pressure and auditting they are been face, they seems to be doing the right things now, only the future can tell but i see staying in the game, even if anything goes wrong, many people will put their money into it to rescue it.

3- USDC: It seems very connected to the US financial system and government to me, so more easily exposed to regulatory risks, wallet bans, etc.

In my own opinion for crypto to go main stream, it needs the support of government and for government to support anything that will in financials, they must have control over it, like banning wallets, monitoring for KYC and AML, you don't a situation where terorist and hackers will stolen someone's wallet and nothing can be done about it or been traced to the person? I think USDC serves the purpose for government and institutional body's to adopt crypto 

[moderator's note: consecutive posts merged]

[fauzan Ichsan]

on the ranking coinmarketcap tether is the top stable coin, with the largest market capitulation, so I believe in tether, even though it was hit by negative issues but until finally and until now it can still be trusted as the biggest stable coin, although there are also some stable coins that are worth using . I often use this coin when waiting for the price to buy coins, even though I wait a long time to get the desired price, I always use it

[ololajulo]

I totally agree with you, USDC is been backed 100%, even though USDT have been in the loop for a very long time

Can you confirm that Tether has a 100% fiat backup? I doubt that Tether requires such a backup and I'm certain they don't have it. Therefore, it's essential to verify this information.

[Rasa nanas]

on the ranking coinmarketcap tether is the top stable coin, with the largest market capitulation, so I believe in tether, even though it was hit by negative issues but until finally and until now it can still be trusted as the biggest stable coin, although there are also some stable coins that are worth using . I often use this coin when waiting for the price to buy coins, even though I wait a long time to get the desired price, I always use it

agree with you, apart from UST issues I think all stable coins are worth using. moreover USDT being the most popular stable coin with the largest market cap at the moment, I think there will be no doubts and everyone will say that it is really worth using. regardless of what happens to UST or FTX I think it's an event that no one wants including the team, and I don't think this problem will make all of our trust in crypto disappear.

[fvb]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

I don’t know what videos and articles you read, but I’ll note that it’s better not to trust such forecasts and always think with your own head. Anything can be said, and personally I do not jump to conclusions from the opinions of any pseudo-oracles, because they themselves do not know anything. Good stablecoin, I have been using it for a long time and have no complaints

[coinerer]

on the ranking coinmarketcap tether is the top stable coin, with the largest market capitulation, so I believe in tether, even though it was hit by negative issues but until finally and until now it can still be trusted as the biggest stable coin, although there are also some stable coins that are worth using . I often use this coin when waiting for the price to buy coins, even though I wait a long time to get the desired price, I always use it

agree with you, apart from UST issues I think all stable coins are worth using. moreover USDT being the most popular stable coin with the largest market cap at the moment, I think there will be no doubts and everyone will say that it is really worth using. regardless of what happens to UST or FTX I think it's an event that no one wants including the team, and I don't think this problem will make all of our trust in crypto disappear.

LUNA's crush on UST was a very unfortunate occurrence.  However, after this incident, all investors have become very cautious in the field of investment.  And since the crash of stable coins like UST, investors' confidence in USDT, USDC, BUSD has also decreased, so many people are afraid to hold them. But I don't think USDT can crash like UST so I still trust and use USDT a lot but I won't say you use it too it's your personal matter which one you trust and invest in.  I shared only my personal opinion

[Muslimin mj]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

I'm sure everyone who owns crypto assets believes in USDT because USDT is the best stablecoin in my opinion and some others. and I'm also sure that everyone must have saved assets in USDT. and the other option in my opinion is BUSD because Binance is one of the best at the moment and a big Exchange market based on coinmarketcap data.

[mbakruroh]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

If so far we don't trust Tether as a stablecoin, what is the basis for us not trusting it. The number of stablecoins from Tether continues to increase, but the SEC doesn't seem to see this as something that's important to review. Many have doubted Tether so far, but no one has been able to prove it. As long as exchanges still use it as a stablecoi equivalent to USD, we can still use Tether.

[timoshani]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

This is a good stablecoin. I often send transactions using TRC-20, because the fee is minimal. TUSTD is a reliable stablecoin. We saw this when the USDC was decreased in price.

[WalkerIVIV]

i trust the stablecoin as much I trust if it collapsing the entire cryptocurrency market will turn into chaos so basically it's like the last resort.
the market capitalization of this coin is simply too humongous to fail, and even if it did, i doubt entire cryptocurrency will be spared.

[Dr.Osh]

i trust the stablecoin as much I trust if it collapsing the entire cryptocurrency market will turn into chaos so basically it's like the last resort.
the market capitalization of this coin is simply too humongous to fail, and even if it did, i doubt entire cryptocurrency will be spared.

however, some stablecoins have failed, such as UST. the coin actually made the crypto market price crash, and evidence that stable coins can also collapse. Apart from that, there are quite a lot of negative issues regarding USDT which is one of the stable coins that has the largest volume at the moment. Well, personally, I don't believe 100% in stable coins. because of that, i never keep my assets in coin stable long term.

[Andrija Branislav]

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

Regarding Tether (USDT) and its potential impact on the market and Tether has indeed been the subject of controversy and scrutiny, it is important to note that Tether remains the most widely used stablecoin in the crypto space today. As for the question of which stablecoin is the most credible in the crypto space, there is no clear answer. Each stablecoin has its own strengths and weaknesses, and investors should consider these factors.

Some stablecoins, such as USD Coin (USDC) and Paxos Standard (PAX), have received regulatory approvals and are regularly audited to ensure transparency and reliability others, such as Dai (DAI), are decentralized and algorithmically pegged to a stable asset value, such as the dollar US.

[Awraawra]

Usdt is the one that stable coin and you can trust also. And do not invest only in one cryptocurrency try to search for the best that you put on your money. Try bitcoin or ethereum this are the best cryptocurrency that you can invest also your money. So don't put all your money in one basket try to explore.

[FahriZah]

I like also USDT and also like binance stable coin BUSD and USDC all but when thinking very faster withdrawal and need to transfer to others people’s and need to transfer other’s exchange account than i,m using TRC-20 network because for faster transaction trc-20 network best i hope than i like TRC-20 USDT.

[Godday]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

Honestly USDT is the best crypto asset I ever know. I've converted the coins and tokens that I've gotten from airdrops or bounty hunters and I'm converting them all to USDT. Because I believe USDT is the best asset for the long term.

[bitgolden]

If so far we don't trust Tether as a stablecoin, what is the basis for us not trusting it. The number of stablecoins from Tether continues to increase, but the SEC doesn't seem to see this as something that's important to review. Many have doubted Tether so far, but no one has been able to prove it. As long as exchanges still use it as a stablecoi equivalent to USD, we can still use Tether.

My basis is that it is all managed by one company and companies bankrupt. That is as simple as that, it is centralized and there is just one company behind it all and they could bankrupt tomorrow all I know and I do not want to be part of it when it does.

I understand not many people think the same way and some thing that it will do fine but I do not share the same feeling, I feel like that is going to be something much different and there is a good chance that we could end up with something much worse. I know that tether as a company could go down in a second and we could end up with something that would be a lot worse and I personally do not want to be a part of it and try to avoid it as much as I can and not own any of it ever.

[carrie_white]

no one can guarantee 100% that any crypto coin will be safe, even though USDT is known as a reliable stable coin, after all why would you put your money in USDT as a stable coin, you should change your USDT to BNB, at least it's more valuable

[Magic-Money]

USDT has last for a long period of time here in the cryptocurrency market which servers as a stable coin, when market is going down, USDT conversion really help to maintain the value of the assets you have, mostly crypto trader are making use of stable coin. Therefore the USDT stable coin is the one of the Worthy trust coin in the cryptocurrency market.

[iphone5s]

no one can guarantee 100% that any crypto coin will be safe, even though USDT is known as a reliable stable coin, after all why would you put your money in USDT as a stable coin, you should change your USDT to BNB, at least it's more valuable

Why do people always want a stable coin I don't like this because if you look stable when you can make a surprising profit and when you feel your heartbeat will be pounding. If everything is only for stable you should see gold. Sometimes I don't understand what humans want with a stable coin.

[Dessy88]

Why not? They have long run history in this crypto market even usdt legal of many country. However many country use usdt of business organised with buy and sell products. This is stable coin which is very helpful for crypto trader and investors. If you want working in crypto then you need to use usdt. If you want hold assets in crypto then you will need usdt.

[deepblue01]

USDT has last for a long period of time here in the cryptocurrency market which servers as a stable coin, when market is going down, USDT conversion really help to maintain the value of the assets you have, mostly crypto trader are making use of stable coin. Therefore the USDT stable coin is the one of the Worthy trust coin in the cryptocurrency market.

you will regret it when they colapse. USDT marketcap almost reach new all time high while bitcoin and another crypto asset still in bear market,
Which mean they are buying some crypto with usdt.

Why do people always want a stable coin I don't like this because if you look stable when you can make a surprising profit and when you feel your heartbeat will be pounding. If everything is only for stable you should see gold. Sometimes I don't understand what humans want with a stable coin.

stablecoin is good when its for trader who want to save their own profit.

[DeathAngel]

Tether has over 2 billion $ in reserves surplus. They have a multi year record of trust & transparency, you can definitely trust them.

@Tether_io
Tether's Latest Q1 2023 Assurance Report Shows Reserves Surplus At All-Time High of $2.44B, up $1.48B in Net Profit; New Categories for Additional Transparency Reveals Bitcoin and Gold Allocations.

https://tether.to/en/tethers-latest-q1-2023-assurance-report-shows-reserves-surplus-at-all-time-high-of-244b-up-148b-in-net-profit-new-categories-for-additional-transparency-reveals-bitcoin-and-gold-allocations/

https://twitter.com/tether_to/status/1656299990367576072

[Bolivar_Tony]

They have long history in cryptocurrency and if there is a stable coin you can trust, USDT is one of the best options you have. Regardless of they cooked their reports, I think they have good treasuries for Tether USD.

However, in cryptocurrency, things can change very fast and we don't know how Tether USDT will change in future. If you want to store your capital in stable coin, I don't think it is safe to store all your capital in only Tether USDT. You can choose some other stable coins to store your capital like BUSD (Binance USD), USDC together with Tether USD.

Decentralize risk of bankruptcy from one stable coin by this way.

trust? there has been so many controverses surrounding  the USDT about not having the actual equivalent of the token they minted, it's in public domains, though i use USDT but not trusting it, In terms of trust i will agree with you on USDC

[JahriMeayer]

Controversial Stablecoin Tether always sounds shady. Some agencies audit its smart contract code and give clearance no vulnerability in the smart contract. But it doesn’t mean it'll last forever and never get freezed. Moreover Tether is first Centralized stablecoin, people are using this since years. Tether claimed they are backed by real dollar which still has no proof but maybe based on this statement people keep using it. Well decentralised stablecoin DAI can be use instead of usdt  IMHO

[Abiky]

My basis is that it is all managed by one company and companies bankrupt. That is as simple as that, it is centralized and there is just one company behind it all and they could bankrupt tomorrow all I know and I do not want to be part of it when it does.

I understand not many people think the same way and some thing that it will do fine but I do not share the same feeling, I feel like that is going to be something much different and there is a good chance that we could end up with something much worse. I know that tether as a company could go down in a second and we could end up with something that would be a lot worse and I personally do not want to be a part of it and try to avoid it as much as I can and not own any of it ever.

That's the real issue here. It's not like stablecoins are insured by the FDIC (Federal Deposit Insurance Corporation of the US). They're privately-issued digital currencies subject to failure. The issuing company could either go bankrupt, face prosecution from the government, or even lose all of its money due to hacks and/or theft. If one of these unfortunate events happen, you can say bye-bye to your life savings for good.

I'd recommend you cash out for Fiat instead of investing in a stablecoin to minimize losses as much as possible. Stablecoins like USDT and USDC are only a "temporary solution" meant to make traders' lives easier. The real deal would be CBDCs. Just wait until they launch for them to take over the world by storm. Who knows if Tether (USDT) ultimately becomes history? Just my thoughts

[fzkto]

Controversial Stablecoin Tether always sounds shady. Some agencies audit its smart contract code and give clearance no vulnerability in the smart contract. But it doesn’t mean it'll last forever and never get freezed. Moreover Tether is first Centralized stablecoin, people are using this since years. Tether claimed they are backed by real dollar which still has no proof but maybe based on this statement people keep using it. Well decentralised stablecoin DAI can be use instead of usdt  IMHO

Tether reports quarterly on its activities and has regular profits. It is a large company with a large capitalisation. I would compare them to Binance. Of course you can't completely trust USDT, but I think they are more trustworthy in the market than other stablecoins. Especially after the collapse of LUNA and UST. By the way they are not fully backed by the dollar and have even written about it before.

[Jocuserious]

Petty sound good usdt also a good stable coin which is lot of helpfull token for a trader and investors. As like reason they have to run very long even usdt is the larger company even there users worldwide. If you are a crypto user then usdt is the mainly option which making good safe funding hold.

[mich]

Well USDT had profits of $1.5 Billion so far in first quarter of this year. And now it will use at most 15% of profits to buy Bitcoin and depends on monthly net profits.

It is just another reason for Tether to be most trusted stable coin. https://tether.to/en/tether-to-further-strengthen-reserves-through-purchase-of-bitcoin-with-realized-net-operating-profits/

[Amejoaquim]

I don’t trust any stablecoin anymore.
UST failed, USDT is shady, USDC de-pegged because of its vulnerability to banks, BUSD is being attacked by regulators, DAI is backed by other stablecoins.

[Dave1]

And now Tether said that they are going to buy BTC,

Stablecoin issuer Tether will regularly buy bitcoin (BTC) for its stablecoin reserves using a portion of its profits starting this month as part of a new investment strategy focused on the largest cryptocurrency by market capitalization, the firm announced on Wednesday.

Tether said it will allocate up to about 15% of the realized profits from investments – excluding any unrealized price appreciation of its reserve assets – to purchase BTC and will add the tokens to the reserve surplus.

https://www.coindesk.com/business/2023/05/17/tether-says-it-will-buy-bitcoin-for-stablecoin-reserves-using-realized-profits/

So not sure if this is a good news for us, or this will stay others to somewhat put a "trust" on Tether or their USDT because now they have more backup or reserves money put into BTC for good measures.

Of course, others may said that this is just marketing for them, but in any case, it's good to hear another company putting money on BTC as investments. So it's a win win for us.

[mich]

Well, now there is more people going to trust Tether. They have kept their promise. It has spent 15% of it's profit buying $222 Million in Bitcoin.

https://www.cnbc.com/2023/05/17/tether-buys-222-million-worth-of-bitcoin-to-back-its-usdt-stablecoin.html

[Dr.Osh]

Tether has over 2 billion $ in reserves surplus. They have a multi year record of trust & transparency, you can definitely trust them.

@Tether_io
Tether's Latest Q1 2023 Assurance Report Shows Reserves Surplus At All-Time High of $2.44B, up $1.48B in Net Profit; New Categories for Additional Transparency Reveals Bitcoin and Gold Allocations.

https://tether.to/en/tethers-latest-q1-2023-assurance-report-shows-reserves-surplus-at-all-time-high-of-244b-up-148b-in-net-profit-new-categories-for-additional-transparency-reveals-bitcoin-and-gold-allocations/

https://twitter.com/tether_to/status/1656299990367576072

well, it is the most trusted stable of coins till date. even the volume and transactions seem to be the biggest so far for stable coins. among all the stable coins, I also use USDT as one of the stable coins that I regularly use for transactions. It's just that I never thought about holding my assets into USDT long term. although reliable, there is still quite a lot of FUD circulating regarding stable coins. however, I still use USDT from the past until now.

[noormcs5]

Tether has over 2 billion $ in reserves surplus. They have a multi year record of trust & transparency, you can definitely trust them.

@Tether_io
Tether's Latest Q1 2023 Assurance Report Shows Reserves Surplus At All-Time High of $2.44B, up $1.48B in Net Profit; New Categories for Additional Transparency Reveals Bitcoin and Gold Allocations.

https://tether.to/en/tethers-latest-q1-2023-assurance-report-shows-reserves-surplus-at-all-time-high-of-244b-up-148b-in-net-profit-new-categories-for-additional-transparency-reveals-bitcoin-and-gold-allocations/

https://twitter.com/tether_to/status/1656299990367576072

well, it is the most trusted stable of coins till date. even the volume and transactions seem to be the biggest so far for stable coins. among all the stable coins, I also use USDT as one of the stable coins that I regularly use for transactions. It's just that I never thought about holding my assets into USDT long term. although reliable, there is still quite a lot of FUD circulating regarding stable coins. however, I still use USDT from the past until now.

USDT is the most widely used stable coin till now. Though there were some rumors and FUD that is not fully backed but then I would like to ask that is the US dollar fully backed by gold. I don't think so.
US government printed dollars without any reason just like more Tether gets into circulation.

Even if anyone who do not have full trust in USDT, there is no other option for him as none other stable coin can be safely used. Even USDC had problems recently and Binance does not promote BUSD even and rather it promotes TUSD  

[Abiky]

Well, now there is more people going to trust Tether. They have kept their promise. It has spent 15% of it's profit buying $222 Million in Bitcoin.

https://www.cnbc.com/2023/05/17/tether-buys-222-million-worth-of-bitcoin-to-back-its-usdt-stablecoin.html

Isn't that the same thing Terra/LUNA did with the UST stablecoin a while ago? That lead it to failure as the Luna Foundation Guard was unable to restore the peg even with its BTC holdings. This is a dangerous move from Tether that could lead the crypto market towards complete disaster in the future. If USDT goes down, all hell will break lose. Things will be worse because the company will sell its BTC holdings to try to rescue the stablecoin's peg to the USD. A huge crash awaits for BTC and other coins if this happens.

Let's hope there isn't another banking crisis that would destroy stablecoins for good. I'd trust Fiat instead of a stablecoin because it's backed by the full faith and credit of the government. Who knows if these things become history in the not-so-distant future? Just my opinion

[Boomber]

I personally don't trust in stablecoin (including USDT), because stablecoin also have risks (the price can crash like UST) and of course that can also happen to USDT (although the probability is very small), but still USDT have risks, therefore I never use stablecoin and always save my money in Bitcoin, because Bitcoin and stablecoin both have risks, but at least Bitcoin can give me profit and stablecoin can't give me profit.

[smile1218]

Tether (USDT) is one of the most widely used stable coins in the crypto currency market. While there have been concerns raised about its transparency and backing, Tether has consistently maintained that each USDT token is backed by a corresponding US dollar held in reserve. But still it would depend on individual whether to trust or not to trust Tether because it is a decision that each individual must make for themselves based on their own research and risk tolerance.

[podluznyj]

I personally don't trust in stablecoin (including USDT), because stablecoin also have risks (the price can crash like UST) and of course that can also happen to USDT (although the probability is very small), but still USDT have risks, therefore I never use stablecoin and always save my money in Bitcoin, because Bitcoin and stablecoin both have risks, but at least Bitcoin can give me profit and stablecoin can't give me profit.

yes, it’s clear that there are always risks not only USDT, they are, I mean risks on all stemloids, I have no complaints about USDT, but I don’t pay much attention, that is, I don’t buy and don’t sell, how to say I have a neutral attitude, in principle except for ethereum and bitcoin, I don’t buy or sell, and no bnb is also not a bad asset for today

[lobo13hf]

stablecoin that are reputed like USDT i could see hardly gonna fail, they aren't just gonna suddenly vanish it's no different with usdt, it has been number 1 stablecoin since long ago.
therefore i'd say i trust stablecoin to some length.

[deepblue01]

I don’t trust any stablecoin anymore.
UST failed, USDT is shady, USDC de-pegged because of its vulnerability to banks, BUSD is being attacked by regulators, DAI is backed by other stablecoins.

it's messy right. i think each stable coin fighting among themself to get profit and they are the one who fully backed by USD.
I think history will repeat it self
what if tether leave fiat money?I know this speculation from the long term and I believe it will happen sooner or later

[southerngentuk]

Their existence to this day has affirmed their important position in the electronic convenience market. Tether has made the market so much bigger. It is true that there is still a lot of confusion with them, but the fact that people continue to use them proves their trust, and this coin does a big thing that many coins cannot do. So there is no reason not to trust it and use it in trading. In addition, it is not necessary to use USD; it is still USD or other currencies in the generation system. So diversity is not dependent on a certain currency because capital is used for the sake of balance.

[bayudndy]

Of course I believe in tether; I've been using it ever since I got into this market and have traded around with it many times on various blockchains. That's great that it meets my needs and doesn't disappoint when I use it. Around USDT, there are still other currencies like USDC or BUSD, but USDT is still something more prominent. Also, many people prefer to use USDT for p2p exchange.

[Ahli38]

Of course I believe in tether; I've been using it ever since I got into this market and have traded around with it many times on various blockchains. That's great that it meets my needs and doesn't disappoint when I use it. Around USDT, there are still other currencies like USDC or BUSD, but USDT is still something more prominent. Also, many people prefer to use USDT for p2p exchange.

In the last year I trust BUSD more. But after a piece of fud news about Paxos circulated, I left BUSD and switched to USDT. Yes, because this stablecoin is the only stablecoin that still looks strong today.

But even though I currently use Usdt, that doesn't mean I fully trust Usdt. It's just that the best choice for now is Usdt. And I also read about Usdt that will continue to accumulate BTC for their reserve assets. I forgot to put the news link where. maybe I'll link to it when I find it. but basically I think the news is a positive thing for Usdt.

[bittick]

if this stablecoin with humongous market capitalization that has been quite literally become the pioneer of stablecoin can't be trusted, then i wonder which stablecoin can be trusted.
i'd say i will just trust it until some strange things happening like the money supposed to be reserved isn't equal with circulating supplies.

[poodle63]

some people were distrusting this one but i have been trusting this since a few years ago. Im actively using USDT to transfer in the daily basis and yeah nothing happened with it. What's the problem then?

I see no reason for people not to use this stable coin. USDT is as good as another regulated stable coin. Even though the haters will always there and USDT will still exist.

[JeffBrad12]

I personally don't trust in stablecoin (including USDT), because stablecoin also have risks (the price can crash like UST) and of course that can also happen to USDT (although the probability is very small), but still USDT have risks, therefore I never use stablecoin and always save my money in Bitcoin, because Bitcoin and stablecoin both have risks, but at least Bitcoin can give me profit and stablecoin can't give me profit.

well there's certainly some edge where you will definitely need to make some preservation in your wealth and that's when stablecoin come in handy, even though you don't trust stablecoin in general.
just using it temporarily for preserving the value of your investment will only bring benefits and eliminate disadvantages.
after all you only gonna convert it again at the end of the day, it only become a mess only if you decide to just keep your USDT for a whole year or more then there's risk that something obscure might be happening to your investment.
but generally if it's only for temporary means of saving wealth from the volatility, it's gonna be fine.

[sunsilk]

some people were distrusting this one but i have been trusting this since a few years ago. Im actively using USDT to transfer in the daily basis and yeah nothing happened with it. What's the problem then?

Those controversies where Tether has been involved, those issues can't be avoided when their treasury hasn't been clear if they've got enough reserve funds. That's where people and the regulators were worried about.

But when things are starting to get clear and it's likely been verified with the funds that they've got for backing it up as pegged in USD. Things are changing.

I see no reason for people not to use this stable coin. USDT is as good as another regulated stable coin. Even though the haters will always there and USDT will still exist.

For traders, investors and holders.

This is actually ideal for those that have got funds ready to retain their value. The conversion of their assets into Tether makes them secured from any volatility and that's what this stable coin is all about.

[BitcoinTurk]

Although it is one of the most popular and well-established projects in the cryptocurrency markets at the moment, I do not trust USDT too much. It is a stable cryptocurrency that has partially proven itself even though USDT has been mentioned in quite complex events from the beginning until now. Especially the fact that serious sensational statements have been made about its reserves since the first day, company assets have been added to the reserves and the reserve provision has not been presented clearly are among the events that have shaken my confidence in this stable cryptocurrency. Also, regardless of the bull or bear season, the constant printing of USDT at times when the Bitcoin price rises causes my confidence in the project to be shaken.
As a result, it is a stable cryptocurrency that I use to protect my profits and portfolio in short-mid term periods, but I do not prefer to use it much for the long-term periods.

[www.Gambler.Casino]

I trust USDT the most, but of course there are risks. If you don't use a stablecoin, how can you trade on the stock exchange?
I remember how bloggers advised using USDC, it didn't look professional

[deepblue01]

Of course I believe in tether; I've been using it ever since I got into this market and have traded around with it many times on various blockchains. That's great that it meets my needs and doesn't disappoint when I use it. Around USDT, there are still other currencies like USDC or BUSD, but USDT is still something more prominent. Also, many people prefer to use USDT for p2p exchange.

In the last year I trust BUSD more. But after a piece of fud news about Paxos circulated, I left BUSD and switched to USDT. Yes, because this stablecoin is the only stablecoin that still looks strong today.

But even though I currently use Usdt, that doesn't mean I fully trust Usdt. It's just that the best choice for now is Usdt. And I also read about Usdt that will continue to accumulate BTC for their reserve assets. I forgot to put the news link where. maybe I'll link to it when I find it. but basically I think the news is a positive thing for Usdt.

That's good news, because they will earn money when bitcoin go to the moon but otherwise they will in ruin when they cannot pay back.
can you see this long position. That's proof they just bought bitcoin

[JayTrain]

As a relatively new participant in the crypto world, I've been hearing discussions about Tether and its potential impact on the market. Some have raised concerns about Tether being a scam that could crash the crypto market. I'm interested in hearing from more experienced individuals about their personal views on Tether and which stablecoin they find most credible in the crypto space.

[Lagduf]

As a relatively new participant in the crypto world, I've been hearing discussions about Tether and its potential impact on the market. Some have raised concerns about Tether being a scam that could crash the crypto market. I'm interested in hearing from more experienced individuals about their personal views on Tether and which stablecoin they find most credible in the crypto space.

Anyone who hate it will alway call that as a scam while tether is still trusted by so many people in the cryptocurrency. it's credibility was even better compared with the stable token that being issued by circle foundation.
I have been using it since it was released to the crypto market and nothing happen. The ban function has been only used to ban suspicious activity

[GelatikKembar]

yeah, there's no need to talk about it anymore because the credibility and trust in USDT is really very big,
it's proven that all exchanges use USDT and that can't be denied,
and don't worry about the peged from USDT, it's from real USD, so it's impossible for USDT to be a scam in the future, don't worry.

[deepblue01]

yeah, there's no need to talk about it anymore because the credibility and trust in USDT is really very big,
it's proven that all exchanges use USDT and that can't be denied,
and don't worry about the peged from USDT, it's from real USD, so it's impossible for USDT to be a scam in the future, don't worry.

Wow i don't think it's scam but it's not save.
i think history will repeat it self, USDT marketcap is so big right now, but it wont be 100% fully backed.
i mean do you know gold standart is? it will be like that

[mich]

Tether will mine Bitcoin using renewable energy in the country of Uruguay. This is after last month saying it will invest portion of its profits in Bitcoin.

It is for reasons like that I trust this stablecoin. It has new ideas and giving back to Bitcoin.  https://finance.yahoo.com/news/tether-start-mining-bitcoin-uruguay-024131625.html

[fzkto]

Tether will mine Bitcoin using renewable energy in the country of Uruguay. This is after last month saying it will invest portion of its profits in Bitcoin.

It is for reasons like that I trust this stablecoin. It has new ideas and giving back to Bitcoin.  https://finance.yahoo.com/news/tether-start-mining-bitcoin-uruguay-024131625.html

I guess Tether understands the perspective of bitcoin, which is why they invest in bitcoin and even decided to go into mining. That means they are doing well in business and can really be trusted. But it still doesn't mean they can't have problems with the US government because usdt is a surrogate dollar.

[kesmex]

Tether will mine Bitcoin using renewable energy in the country of Uruguay. This is after last month saying it will invest portion of its profits in Bitcoin.

It is for reasons like that I trust this stablecoin. It has new ideas and giving back to Bitcoin.  https://finance.yahoo.com/news/tether-start-mining-bitcoin-uruguay-024131625.html

I guess Tether understands the perspective of bitcoin, which is why they invest in bitcoin and even decided to go into mining. That means they are doing well in business and can really be trusted. But it still doesn't mean they can't have problems with the US government because usdt is a surrogate dollar.

that's the problem because in the US we know how strict the rules regarding crypto currency are,
moreover USDT was in the US a lot of FUD a few years ago but USDT was able to answer emphatically that they were fine in terms of reserves,
so I think we can trust USDT for now.

[yhiaali3]

Only at the moment, but in the long run, nothing is guaranteed, especially in light of the ongoing campaign by the US government on cryptocurrencies in general and stablecoins in particular.

Also, buying large amounts of Bitcoin by Tether can be a double-edged sword. Good in terms of diversifying reserves, but negative in terms of that it can have an indication of fear of something.

[fzkto]

Tether will mine Bitcoin using renewable energy in the country of Uruguay. This is after last month saying it will invest portion of its profits in Bitcoin.

It is for reasons like that I trust this stablecoin. It has new ideas and giving back to Bitcoin.  https://finance.yahoo.com/news/tether-start-mining-bitcoin-uruguay-024131625.html

I guess Tether understands the perspective of bitcoin, which is why they invest in bitcoin and even decided to go into mining. That means they are doing well in business and can really be trusted. But it still doesn't mean they can't have problems with the US government because usdt is a surrogate dollar.

that's the problem because in the US we know how strict the rules regarding crypto currency are,
moreover USDT was in the US a lot of FUD a few years ago but USDT was able to answer emphatically that they were fine in terms of reserves,
so I think we can trust USDT for now.

I wasn't talking about reserves, I was talking about the fact that Tether is not a real dollar. I think at any moment there could be problems because of this. Especially when the US develops CBDC. Tether will turn out to be a competitor for that digital currency because any user can use it.

[deepblue01]

I wasn't talking about reserves, I was talking about the fact that Tether is not a real dollar. I think at any moment there could be problems because of this. Especially when the US develops CBDC. Tether will turn out to be a competitor for that digital currency because any user can use it.

yeah, that is not good.

A CBDC is a digital national currency. In the case of the United States, a CBDC would be a digital form of the U.S. dollar. Like paper dollars, a CBDC would be a liability of the Federal Reserve. But unlike paper dollars, a CBDC would offer neither the privacy protections nor the finality that cash provides

so this is why a lot of stablecoins out there are lowering their marketcap.
If CBDC is coming and can be a bridge to buy cryptocurrency then we are no longer need to use stablecoin anymore

[Abiky]

Tether will mine Bitcoin using renewable energy in the country of Uruguay. This is after last month saying it will invest portion of its profits in Bitcoin.

It is for reasons like that I trust this stablecoin. It has new ideas and giving back to Bitcoin.  https://finance.yahoo.com/news/tether-start-mining-bitcoin-uruguay-024131625.html

The stablecoin has contributed largely to this industry. But that doesn't mean it's guaranteed to last forever. Since Tether is tied to the USD, anything can happen. Would you imagine the USD losing its position as the reserve currency of the world? That would cause the USD's value to plummet, as well as, stablecoins pegged to it.

One thing for sure is that Tether is issued by a private company without the backing of the US government. Why would investors' funds be safe from harms way into something like this? The same can be said about USDC, and other stablecoins on the market. Fortunately, USDT has held its peg even during the worse of times. Who knows if it survives in the long run? Just my thoughts

[Aliem Nur]

Tether will mine Bitcoin using renewable energy in the country of Uruguay. This is after last month saying it will invest portion of its profits in Bitcoin.

It is for reasons like that I trust this stablecoin. It has new ideas and giving back to Bitcoin.  https://finance.yahoo.com/news/tether-start-mining-bitcoin-uruguay-024131625.html

I guess Tether understands the perspective of bitcoin, which is why they invest in bitcoin and even decided to go into mining. That means they are doing well in business and can really be trusted. But it still doesn't mean they can't have problems with the US government because usdt is a surrogate dollar.

that's the problem because in the US we know how strict the rules regarding crypto currency are,
moreover USDT was in the US a lot of FUD a few years ago but USDT was able to answer emphatically that they were fine in terms of reserves,
so I think we can trust USDT for now.

I wasn't talking about reserves, I was talking about the fact that Tether is not a real dollar. I think at any moment there could be problems because of this. Especially when the US develops CBDC. Tether will turn out to be a competitor for that digital currency because any user can use it.

Indeed, Tether is not real dollars but tether reserves have also been told to all of us that they have real dollar reserves at the Tether company,
so why should you hesitate? I'm sure everyone here still uses USDT as their stable coin, and from this it's clear the answer is that they still believe,
even Binance still keeps a lot of USDT on their exchange.

[BADecker]

Tether is a fiat Ponzi, basically similar to all fiat currencies. They have become as strong as they are because they copied the fiats, especially the US dollar and the way it is handled by the banks.

The more people place their trust in Tether, the more the banking cabal will work against the USD in some way.

[ScamViruS]

Absolutely yes i already trust USDT stable coin and hopefully USDT as well and better from others stable coin just we need to forget Justine Sun previously all.

Trust is good but it is not right to trust it 100% and think it is safe. Because USDT is not fully backed, you have to keep in mind that it can have a negative impact at any time. So it is always better to think of alternative ways which can save you from any sudden danger. I myself use USDT but I am not totally dependent on usdt. After the Luna incident, many crypto investors became more cautious about stablecoins.

[deepblue01]

Indeed, Tether is not real dollars but tether reserves have also been told to all of us that they have real dollar reserves at the Tether company,
so why should you hesitate? I'm sure everyone here still uses USDT as their stable coin, and from this it's clear the answer is that they still believe,
even Binance still keeps a lot of USDT on their exchange.

That's because the risk is even greater if the tether collapses. you can look at this and check marketcap.
you should see the history 1st january 2020 total marketcap around 4.6Billion USD and now 82Billion USD. only 3 years marketcap already 10x, maybe next year will be 20x.
if that bubble pop, i dont want to see the price of bitcoin that days

Or maybe you should know about luna and UST. The drama is so good, maybe we should make a movie for them

[Dr.Osh]

Only at the moment, but in the long run, nothing is guaranteed, especially in light of the ongoing campaign by the US government on cryptocurrencies in general and stablecoins in particular.

Also, buying large amounts of Bitcoin by Tether can be a double-edged sword. Good in terms of diversifying reserves, but negative in terms of that it can have an indication of fear of something.

I think most people would think the same thing. if you want to keep coins stable in the long term like USDT, it's better to keep them in a bank, because it's more secure than keeping them in a wallet or exchange. However, for the short term, I also always hold in stable coins, and USDT is my top choice because it is the stable coin I trust the most out of all the stables out there. However, that doesn't mean I believe it 100%. however, it's my go-to choice, but I never keep it for long.

[lunnatic]

Absolutely yes i already trust USDT stable coin and hopefully USDT as well and better from others stable coin just we need to forget Justine Sun previously all.

Trust is good but it is not right to trust it 100% and think it is safe. Because USDT is not fully backed, you have to keep in mind that it can have a negative impact at any time. So it is always better to think of alternative ways which can save you from any sudden danger. I myself use USDT but I am not totally dependent on usdt. After the Luna incident, many crypto investors became more cautious about stablecoins.

nothing is 100% safe do you remember the USTC incident? and take a good look at that incident,
the price of USTC was originally $ 1 and they said it was backed by USD but in fact now USTC has regressed -99%,
and can even be said to be the worst stable coin event in the world of crypto currency,
so with that incident of course we also have to be careful of other stable coins, including USDT

[gabbie2010]

yeah, there's no need to talk about it anymore because the credibility and trust in USDT is really very big,
it's proven that all exchanges use USDT and that can't be denied,
and don't worry about the peged from USDT, it's from real USD, so it's impossible for USDT to be a scam in the future, don't worry.

The fact that many crypto exchange uses USDT was one of the major reason why I also use it though I mainly used it for transaction purposes because my broker adopted it for swift transactions, however I can't hodl my major assets in USDT I would rather store my asset in Bitcoin to avoid unnecessary touching story with regards to the credibility and trustworthy of USDT and nothing is certain among stable coins except the major cryptocurrencies whose credibility is guaranteed and well tasted and confirmed though this is my personal opinion.

[timoshani]

yeah, there's no need to talk about it anymore because the credibility and trust in USDT is really very big,
it's proven that all exchanges use USDT and that can't be denied,
and don't worry about the peged from USDT, it's from real USD, so it's impossible for USDT to be a scam in the future, don't worry.

The fact that many crypto exchange uses USDT was one of the major reason why I also use it though I mainly used it for transaction purposes because my broker adopted it for swift transactions, however I can't hodl my major assets in USDT I would rather store my asset in Bitcoin to avoid unnecessary touching story with regards to the credibility and trustworthy of USDT and nothing is certain among stable coins except the major cryptocurrencies whose credibility is guaranteed and well tasted and confirmed though this is my personal opinion.

I also believe in the stability of Tether USDT as a stablecoin. This is the main stable in my portfolio because most of the operations are carried out through the Binance b TRX network, then for me, USDT is super profitable. Also, almost any exchanger allows you to cash out in fiat. Therefore, I do not plan to abandon Tether USDT yet

[Abiky]

nothing is 100% safe do you remember the USTC incident? and take a good look at that incident,
the price of USTC was originally $ 1 and they said it was backed by USD but in fact now USTC has regressed -99%,
and can even be said to be the worst stable coin event in the world of crypto currency,
so with that incident of course we also have to be careful of other stable coins, including USDT

UST was an algorithmic stablecoin backed by nothing. It was artificially "pumped" by the Luna Foundation Guard. With USDT, things are different. The stablecoin is backed by real USD reserves in a 1:1 ratio. Peg cannot be lost this way, unless the banks holding the USD reserves collapse in their entirety.

I'd trust USDT more than any other stablecoin backed by algorithms (such as Neutrino USD, USDD, etc.). However, that doesn't mean I'll be careless by putting all of my life savings into it. USDT is centralized after all. Same as USDC, TUSD, and others. Crypto is all about decentralization and freedom, so I'd suggest you put most of your money into BTC and ETH just to be safe. Who knows if stablecoins are eventually replaced by CBDCs? Just my opinion

[deepblue01]

nothing is 100% safe do you remember the USTC incident? and take a good look at that incident,
the price of USTC was originally $ 1 and they said it was backed by USD but in fact now USTC has regressed -99%,
and can even be said to be the worst stable coin event in the world of crypto currency,
so with that incident of course we also have to be careful of other stable coins, including USDT

UST was an algorithmic stablecoin backed by nothing. It was artificially "pumped" by the Luna Foundation Guard. With USDT, things are different. The stablecoin is backed by real USD reserves in a 1:1 ratio. Peg cannot be lost this way, unless the banks holding the USD reserves collapse in their entirety.

I'd trust USDT more than any other stablecoin backed by algorithms (such as Neutrino USD, USDD, etc.). However, that doesn't mean I'll be careless by putting all of my life savings into it. USDT is centralized after all. Same as USDC, TUSD, and others. Crypto is all about decentralization and freedom, so I'd suggest you put most of your money into BTC and ETH just to be safe. Who knows if stablecoins are eventually replaced by CBDCs? Just my opinion

I think my opinion is just to avoid unnecessary risks. if you use stablecoin or save your money into stablecoin. it's your own call & your own risk.
if you are suspicious of UST and think It was artificially "pumped" by the Luna Foundation Guard. It doesn't matter now. they are gone for real. And the problem is we should not fall in love with your own crypto.

about USDT is rank 3 by marketcap but it's very different from bitcoin/altcoin which does not have 100% liquidity like USDT.
for example if someone sells 1% of the total supply of bitcoins, the price can drop by more than 10% and how about stablecoin? it's must be 1:1 and do you think it's 100% safe?

[bittick]

yeah, there's no need to talk about it anymore because the credibility and trust in USDT is really very big,
it's proven that all exchanges use USDT and that can't be denied,
and don't worry about the peged from USDT, it's from real USD, so it's impossible for USDT to be a scam in the future, don't worry.

The fact that many crypto exchange uses USDT was one of the major reason why I also use it though I mainly used it for transaction purposes because my broker adopted it for swift transactions, however I can't hodl my major assets in USDT I would rather store my asset in Bitcoin to avoid unnecessary touching story with regards to the credibility and trustworthy of USDT and nothing is certain among stable coins except the major cryptocurrencies whose credibility is guaranteed and well tasted and confirmed though this is my personal opinion.

generally i guess it's good to store money in USDT only temporarily because the rumours circulating around this stablecoin, I guess bank is just still safer option nowadays to save money,
since even if they went bankrupt there is chance they can still recover back since they got help from government.

[lobo13hf]

it's the pioneer of stablecoin, I think i trust this coin like i trust any other stablecoin out there that are legitimate.
after all, saving wealth from fluctuation will be harder without them, in case of the coin is about to lose its pegging to the USD i could simply just liquidate it.

[JeffBrad12]

UST was an algorithmic stablecoin backed by nothing. It was artificially "pumped" by the Luna Foundation Guard. With USDT, things are different. The stablecoin is backed by real USD reserves in a 1:1 ratio. Peg cannot be lost this way, unless the banks holding the USD reserves collapse in their entirety.

That is true and it seems many are ignorant with this fact, both are stablecoin yes but they are entirely different stablecoin with entirely different system.
UST is just got its value artificially, basically like illusions while USDT got the value because they are reserving money for real.
the only way USDT could collapse is if the money reserved didn't match the total supply of the stablecoin they issued.
even then they could just fill in the gap in no time if they have still capital and the coin left unscathed. it's entirely different thing to be compared.

[Velemir Sava]

Yes, Dollarization. Despite the controversy surrounding Tether, I don't think conclusive evidence has been provided to confirm it as fraud or to definitively prove the allegations against it. Stablecoins have different mechanisms to maintain stability and different levels of transparency including USD Coins (USDC), Dai (DAI), and TrueUSD (TUSD) and these are as far as I know.

[podluznyj]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

Of course, if you choose from two coins, let's say USDT and USDC are widely accepted, but differ in their usefulness. USDT is the most traded cryptocurrency with the highest 24 hour volume, while USDC is considered to be the safest store of funds as it is audited annually, here I would choose whichever is more reliable.

[Games.Bitcoin]

Tether is one of the most widely used stablecoins in the cryptocurrency market and is designed to maintain a 1:1 peg with the US dollar. It has been subject to scrutiny and controversy in the past regarding its transparency and claims of insufficient backing reserves. It's important for individuals and investors to conduct their own research and due diligence when considering the use or trustworthiness of any stablecoin or cryptocurrency.

[Rampagoe004]

What is the reason they say that Tether is the biggest scam? Are they seeking public attention for their content?
Tether is the best stablecoin in my opinion. I've been using Tether as my transaction tool for a long time.

Logically if Tether is a problem why are they still around today? How come we never once heard that they were in trouble? I think Coffezilla is doing some shit and something that doesn't make any sense.

[kevinzxz]

for now yes, because in my opinion USDT is still a stable coin that is safe to use compared to other stable coin, because the market cap and trading volume of USDT is still very high compared to other stable coin and USDT is also in the top 10 on coinmarketcap, so that proves if there are still many people who use USDT and of course that's what makes me still believe in using USDT at this time.

[Japinat]

yeah, there's no need to talk about it anymore because the credibility and trust in USDT is really very big,
it's proven that all exchanges use USDT and that can't be denied,
and don't worry about the peged from USDT, it's from real USD, so it's impossible for USDT to be a scam in the future, don't worry.

The fact that many crypto exchange uses USDT was one of the major reason why I also use it though I mainly used it for transaction purposes because my broker adopted it for swift transactions, however I can't hodl my major assets in USDT I would rather store my asset in Bitcoin to avoid unnecessary touching story with regards to the credibility and trustworthy of USDT and nothing is certain among stable coins except the major cryptocurrencies whose credibility is guaranteed and well tasted and confirmed though this is my personal opinion.

generally i guess it's good to store money in USDT only temporarily because the rumours circulating around this stablecoin, I guess bank is just still safer option nowadays to save money,
since even if they went bankrupt there is chance they can still recover back since they got help from government.

There is still no guaranteed even if we say that these banks are backed by the government, if I remember it correctly, there is already a case about that same scenario where the bank did not recover even if they are supposed to get some help. Some are purposely doing it and will just establish another bank with the same affiliates, I don't know why but maybe they are just trying to avoid something including the people's money who trusted their bank.

Anyway, back to the topic, staking or storing in USDT and other stable coins are good but just like what everybody is saying, it is not really advisable to do it long term as you might be in a situation where you didn't imagine in the first place.

[Abiky]

If Tether (USDT) is considered the pioneer stablecoin and as long as it's SEC-free and legit, I'm still sticking with it. Yes. Stablecoins play an important role in protecting wealth from market fluctuations, and Tether allows easy liquidation if it wants to lose its peg to the USD.

I wouldn't say it's "SEC-free". Gary Gensler will soon target stablecoins claiming they are unregistered securities. What will only survive is BTC and similar coins with a PoW model. If USDT wants to stay in business, it's going to need to comply with regulations no matter the cost. Otherwise, it'll be game over for good.

Despite the regulatory turmoil facing the United States, stablecoins have potential to change the crypto industry for the better. They're useful "tools" for those who want the best of both worlds (Fiat and crypto). You'll get the stability of the USD, and the security + cost-efficiency of crypto/Blockchain tech. Tether (USDT) is the pioneer of the stablecoin industry, so it has a high chance of winning in the long run. Who knows if it ends up being the only stablecoin in existence while the rest fade away into oblivion? Just my opinion

[deepblue01]

If Tether (USDT) is considered the pioneer stablecoin and as long as it's SEC-free and legit, I'm still sticking with it. Yes. Stablecoins play an important role in protecting wealth from market fluctuations, and Tether allows easy liquidation if it wants to lose its peg to the USD.

I wouldn't say it's "SEC-free". Gary Gensler will soon target stablecoins claiming they are unregistered securities. What will only survive is BTC and similar coins with a PoW model. If USDT wants to stay in business, it's going to need to comply with regulations no matter the cost. Otherwise, it'll be game over for good.

Despite the regulatory turmoil facing the United States, stablecoins have potential to change the crypto industry for the better. They're useful "tools" for those who want the best of both worlds (Fiat and crypto). You'll get the stability of the USD, and the security + cost-efficiency of crypto/Blockchain tech. Tether (USDT) is the pioneer of the stablecoin industry, so it has a high chance of winning in the long run. Who knows if it ends up being the only stablecoin in existence while the rest fade away into oblivion? Just my opinion

yes, stablecoins must be included in the securities because they said they pegged with US Dollar. i do think that they are playing cat&mouse game right now.
I am just scared about tether because the current circulating supply is rising so big right now

[Iyeman]

for now yes, because in my opinion USDT is still a stable coin that is safe to use compared to other stable coin, because the market cap and trading volume of USDT is still very high compared to other stable coin and USDT is also in the top 10 on coinmarketcap, so that proves if there are still many people who use USDT and of course that's what makes me still believe in using USDT at this time.

So far, USDT rarely has a problem compared with another stable token. I don't know why people are still feeling doubt with USDT. it has proven if USDT has become the most reliable stable token. No reason to call it as a scam or something else.
People talked about reserved too much but it's still mostly used by crypto users.

[JeffBrad12]

Tether is one of the most widely used stablecoins in the cryptocurrency market and is designed to maintain a 1:1 peg with the US dollar. It has been subject to scrutiny and controversy in the past regarding its transparency and claims of insufficient backing reserves. It's important for individuals and investors to conduct their own research and due diligence when considering the use or trustworthiness of any stablecoin or cryptocurrency.

the tether themselves has disclosed their accredited reserve, i think if someone really try to conduct a research on this stablecoin, they'd just found out that the reserve always matching.
but honestly,there are some other things that makes bad rumours revolves around this stablecoin, even though having insufficient reserve is definitely one of them, but none could really prove that to be true.
in the meantime I guess using USDT is fine, so long we are not holding it for too long term like for years, that way we didn't get affected if something to occur.
after all the fact that it has massive liquidity also means that even if the coin turns out to be collapsing you still have some time to liquidate your assets, that though only if you keep updated.

[IvugeoEvolutionCoin]

for now yes, because in my opinion USDT is still a stable coin that is safe to use compared to other stable coin, because the market cap and trading volume of USDT is still very high compared to other stable coin and USDT is also in the top 10 on coinmarketcap, so that proves if there are still many people who use USDT and of course that's what makes me still believe in using USDT at this time.

So far, USDT rarely has a problem compared with another stable token. I don't know why people are still feeling doubt with USDT. it has proven if USDT has become the most reliable stable token. No reason to call it as a scam or something else.
People talked about reserved too much but it's still mostly used by crypto users.

I use USDT most of the time. But I don't know USDT is very popular that's why I like to keep my money in USDT. But I will never lose and gain money in USDT. But if any transaction through USDT is free like 1$  Pay per transaction. I like USDT so much that I use USDT most of the time.

[Desscount]

for now yes, because in my opinion USDT is still a stable coin that is safe to use compared to other stable coin, because the market cap and trading volume of USDT is still very high compared to other stable coin and USDT is also in the top 10 on coinmarketcap, so that proves if there are still many people who use USDT and of course that's what makes me still believe in using USDT at this time.

So far, USDT rarely has a problem compared with another stable token. I don't know why people are still feeling doubt with USDT. it has proven if USDT has become the most reliable stable token. No reason to call it as a scam or something else.
People talked about reserved too much but it's still mostly used by crypto users.

I use USDT most of the time. But I don't know USDT is very popular that's why I like to keep my money in USDT. But I will never lose and gain money in USDT. But if any transaction through USDT is free like 1$  Pay per transaction. I like USDT so much that I use USDT most of the time.

for now there is no doubt about Tether USDT because USDT is still used by all users, communities and even whales,
and most importantly there is no bad news about Tether so it doesn't matter if at this point I trust USDT 100%.

[mich]

Well the crypto markets has been losing its profits for a short time. But this does not stop Tether from printing another $1 Billion of the stablcoin USDT.

I think this deploying of more money into the crypto market is a 'bullish' sign. https://whale-alert.io/transaction/ethereum/0xf9a83f786987ececb9b5912b0e59b27715bf937603acd09a39c4c53d83926cb7

[deepblue01]

Tether is one of the most widely used stablecoins in the cryptocurrency market and is designed to maintain a 1:1 peg with the US dollar. It has been subject to scrutiny and controversy in the past regarding its transparency and claims of insufficient backing reserves. It's important for individuals and investors to conduct their own research and due diligence when considering the use or trustworthiness of any stablecoin or cryptocurrency.

the tether themselves has disclosed their accredited reserve, i think if someone really try to conduct a research on this stablecoin, they'd just found out that the reserve always matching.
but honestly,there are some other things that makes bad rumours revolves around this stablecoin, even though having insufficient reserve is definitely one of them, but none could really prove that to be true.
in the meantime I guess using USDT is fine, so long we are not holding it for too long term like for years, that way we didn't get affected if something to occur.
after all the fact that it has massive liquidity also means that even if the coin turns out to be collapsing you still have some time to liquidate your assets, that though only if you keep updated.

most of liquidity comes from trading who seek different price around crypto exchange. it's not like a bank who provide liquidity in stock exchange.
if there is no evidence that stablecoin reserves equal the circulating supply so there is no evidence that they can back up all USDT at this time.
their own liquidity maybe some stock exchange, USD , some bussiness like hotel, or maybe bank deposits around the world. what if the world economy collapse, Then USDT will be in the same fate.

Well the crypto markets has been losing its profits for a short time. But this does not stop Tether from printing another $1 Billion of the stablcoin USDT.

I think this deploying of more money into the crypto market is a 'bullish' sign. https://whale-alert.io/transaction/ethereum/0xf9a83f786987ececb9b5912b0e59b27715bf937603acd09a39c4c53d83926cb7

i wish i have that token. which bussiness they have to print 1 billion stablecoin.
or they want to shut people mouth. tether is not a bank, but i think they treat their coin just like a bank did

[glendall]

I use usdt, busd, and usdc according to what exchange I use but I mostly use BUSD because as we know bsc is a network that has shipping costs that are still friendly to its users and is widely used by today's users.
for storage, I never save in stablecoin, but I'm more comfortable saving in fiat

[kevindjunaidi]

until now I still believe and use Tether (USDT), because in my opinion Tether (USDT) is a decent stablecoin for me to use, this is evident from the very high volume of Tether (USDT) and Tether (USDT) is also ranked 3rd, so of course that's what makes me confident and believe to using Tether (USDT) until recently.

[Venik]

I trust it enough to use it, not to hold it. But who's holding stablecoins anyway, right?

[Rupok]

Many people spread rumors without thinking much about cryptocurrency, those who spread rumors about Tether USDT do not know that they have a long history in cryptocurrency and have been in the market for a long time. I believe Tether USDT is a very reliable stable currency. If someone wants to keep his currency stable then I would say Tether USDT is one of the best options. But storing all your capital in USDT will not be safe. Also you can use BUSD.I have been using USD for a long time and from my experience I have not noticed any anomalies where there is a chance of a scam.But if anyone has any doubts about this, you can keep your capital converted into various trusted currencies as a decentralization.

[Lantind]

until now I still believe and use Tether (USDT), because in my opinion Tether (USDT) is a decent stablecoin for me to use, this is evident from the very high volume of Tether (USDT) and Tether (USDT) is also ranked 3rd, so of course that's what makes me confident and believe to using Tether (USDT) until recently.

So far, I personally still use Usdt and so far it's still very safe, although sometimes prices often change from time to time and I think this is reasonable and doesn't really make us feel like we're going to leave it, because until now we often use Usdt for transactions. daily needs. we can still trust Tether ( USDT ) for now.

[TheSpiral]

until now I still believe and use Tether (USDT), because in my opinion Tether (USDT) is a decent stablecoin for me to use, this is evident from the very high volume of Tether (USDT) and Tether (USDT) is also ranked 3rd, so of course that's what makes me confident and believe to using Tether (USDT) until recently.

Tether usdt is most used trading pair in all exchanges and if i am nit wrong tether is no 1 ranking in term of stable coins. Usdt is not back up by any coin and if any kind of bad situation happened then this could lead to massive dump in crypto. despite of all these community still believe in usdt and they are not hesitating to hold large number of usdt. i personally love usdt because most of tokens pair has only usdt and i can easily trade in any exchange.

[mdzahed134]

until now I still believe and use Tether (USDT), because in my opinion Tether (USDT) is a decent stablecoin for me to use, this is evident from the very high volume of Tether (USDT) and Tether (USDT) is also ranked 3rd, so of course that's what makes me confident and believe to using Tether (USDT) until recently.

So far, I personally still use Usdt and so far it's still very safe, although sometimes prices often change from time to time and I think this is reasonable and doesn't really make us feel like we're going to leave it, because until now we often use Usdt for transactions. daily needs. we can still trust Tether ( USDT ) for now.

Without USDT we can't imagine trading specially it’s daily needed for the traders. But a lot of rumours about USDT as like it can be collapse anytime. Whatever i think it’s most using stable coin in the market, so it’s quite popular. I'm using Tether USDT in tron network for cheap transaction fees. I trust it for daily uses but will never hold for long time in my wallet.

[Bolivar_Tony]

Tether has been a controversial stablecoin in the crypto world. While it has gained widespread adoption, concerns about transparency and market manipulation have been raised. Other credible stablecoin options include USDC, Dai, and TUSD. It's important to research and make informed decisions when investing in stablecoins.

[Psynthax]

im afraid if i don't trust this stablecoin i'd have no way of going against the fluctuation keeping my assets from being disrupted
by the massive volatility that the market has.
usdt is the longest standing stablecoin there is and I don't think it's gonna go anywhere.

[o48o]

I use usdt, busd, and usdc according to what exchange I use but I mostly use BUSD because as we know bsc is a network that has shipping costs that are still friendly to its users and is widely used by today's users.
for storage, I never save in stablecoin, but I'm more comfortable saving in fiat

Shipping costs? Are you referring to transaction fees? You are aware that bsc network can move other stable coins as well that are also dirt cheap to use?

Also i don't think many of us are using erc20, for moving small amounts of usdt anyway. Not only it's supported by bsc, you have move it via Arbitrum, Solana, Optimism, Tron, and even Bitcoin.

I am keeping mine in stablecoin if i want to reduce volatility. If i store something in fiat, i feel like i am completely out of the game.

[deepblue01]

I trust it enough to use it, not to hold it. But who's holding stablecoins anyway, right?

i don't know who. but someone does hold it. maybe someone doesn't want to withdraw his money because of something like taxes

until now I still believe and use Tether (USDT), because in my opinion Tether (USDT) is a decent stablecoin for me to use, this is evident from the very high volume of Tether (USDT) and Tether (USDT) is also ranked 3rd, so of course that's what makes me confident and believe to using Tether (USDT) until recently.

So far, I personally still use Usdt and so far it's still very safe, although sometimes prices often change from time to time and I think this is reasonable and doesn't really make us feel like we're going to leave it, because until now we often use Usdt for transactions. daily needs. we can still trust Tether ( USDT ) for now.

what is your daily need. are you a trader?

im afraid if i don't trust this stablecoin i'd have no way of going against the fluctuation keeping my assets from being disrupted
by the massive volatility that the market has.
usdt is the longest standing stablecoin there is and I don't think it's gonna go anywhere.

I think it wont go anywhere. usdt is here to stay because the community want it. back then before stablecoin. there is bitcoin is the grand cryptocurrency we trade for another altcoin.
But since 2017 usd tether take control almost everything in daily volume. less and less people gonna trade like UNI/ETH, CAKE/BNB, ETH/BTC or BNB/BTC.

[Iyeman]

Tether has been a controversial stablecoin in the crypto world. While it has gained widespread adoption, concerns about transparency and market manipulation have been raised. Other credible stablecoin options include USDC, Dai, and TUSD. It's important to research and make informed decisions when investing in stablecoins.

As long as people are putting their trust to the tether and im sure nothing happened with it. The only problem if people are not able to trust it. Tether is far better than USDC. USDC is always having problems.
Stable token can't be used as investment.

[JeffBrad12]

Many people spread rumors without thinking much about cryptocurrency, those who spread rumors about Tether USDT do not know that they have a long history in cryptocurrency and have been in the market for a long time. I believe Tether USDT is a very reliable stable currency. If someone wants to keep his currency stable then I would say Tether USDT is one of the best options. But storing all your capital in USDT will not be safe. Also you can use BUSD.I have been using USD for a long time and from my experience I have not noticed any anomalies where there is a chance of a scam.But if anyone has any doubts about this, you can keep your capital converted into various trusted currencies as a decentralization.

well even though tether is like the pioneer of stablecoin it's still doesn't reduce the fact that even a coin like that could collapse, people wouldn't believe it at first they thought they are too big to fail but the chance is still there even though it's rather slim. i'd say the solution you presented to prevent such disaster through spreading the investment to various coins as a mean of diversifying could helps.
but talking from the point of view of an investors that want to keep the wealth from deteriorating from the volatility itself, stablecoin is much certainly the most convenient way and sometimes diversifying too much will just adds
some complexity towards the investment.

[Abiky]

Shipping costs? Are you referring to transaction fees? You are aware that bsc network can move other stable coins as well that are also dirt cheap to use?

Also i don't think many of us are using erc20, for moving small amounts of usdt anyway. Not only it's supported by bsc, you have move it via Arbitrum, Solana, Optimism, Tron, and even Bitcoin.

I am keeping mine in stablecoin if i want to reduce volatility. If i store something in fiat, i feel like i am completely out of the game.

I think that's Tether's huge selling point. It's available on multiple blockchain networks, unlike many of its rivals. Not only that, but the USDT stablecoin has first-mover advantage on the market. It has managed to retain its peg to the US Dollar, even with the banking crisis taking the world by storm.

For Tether to fail, Bitfinex (the issuing company) must cease to exist. And I don't see that happening anytime soon. The company is bigger and stronger than ever. It's likely Tether will remain the sole survivor of the stablecoins group, until CBDCs replace paper money for good. Maybe the US will go as far as adopting USDT as the new "Digital Dollar"? Just my thoughts

[kuyaJ]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

I am in Cryptoworld since 2017, there is no sure about the most credible stablecoin except USDT since there is some stablecoin that crashes, for example, Terra(LUNA).

"LUNA was meant to buffer TerraUSD against market volatility, but it succumbed to extreme selling over recent days. Its trading price was knocked down to $0.03, last week. That’s down 99.9% since May 6.

“It was inevitable Terra crashed as the reliance on using other cryptocurrencies as collateral as well as the minting/burning mechanism of LUNA for Terra was not sufficient to survive any serious market volatility,” says Adam Carlton, CEO of crypto wallet PinkPanda says.

In a bid to save TerraUSD, the Luna Foundation Guard (LFG), the nonprofit that supports the Terra network, depleted its entire reserve of $3 billion in Bitcoin. And it was the fund’s dumping of its Bitcoin reserves in a last-ditch effort to save UST that probably helped contribute to Bitcoin’s volatility."

Source: https://www.forbes.com/advisor/in/investing/cryptocurrency/crypto-market-crash/

In stablecoins, there have generally been successful in maintaining they're pegged, there have been isolated incidents where specific stablecoins faced challenges or failed to maintain their intended stability. These instances can be attributed to various factors, including insufficient collateralization, mismanagement, lack of transparency, regulatory issues, or market shocks. However, it is worth noting that stablecoins such as Tether (USDT), USD Coin (USDC), and DAI have been operating relatively stably and have gained significant traction in the crypto market. These stablecoins are widely used for various purposes, including remittances, trading, and as a store of value. They have established themselves as credible options within the cryptocurrency ecosystem.

It's crucial for users and investors to conduct thorough research and due diligence before engaging with any stablecoin to assess its credibility, track record, and the mechanisms in place to maintain stability. Market volatility and risks are inherent to the cryptocurrency space, and careful consideration is necessary when choosing stablecoins or any other digital assets.

[globalpain]

There's nothing to worry about with Tether for now, look at how much the marketcap of Tether is?
yes, Tether is in the top 3 of Coinmarketcap, meaning that Tether trusts everyone, of course, is very trusted,
so there is nothing bad about Tether and even Tether is the top 1 stable coin circulating in the crypto market.

[SlimShadyMmp]

The way I see it is you can either go USDT or USDC and then the rest in TUSD or have it decentralized like CurveUSD or wait on AaveUSD I hear DJED is also going Multi-Chain but seriuosly USDT are more established and anything happening to usdt will affect the whole market (the have some us-bonds ). You can never say never but for now they seem alright but maybe divide your cash holdings to USDT and USDC also get some DJED or something just incase

[lobo13hf]

There's nothing to worry about with Tether for now, look at how much the marketcap of Tether is?
yes, Tether is in the top 3 of Coinmarketcap, meaning that Tether trusts everyone, of course, is very trusted,
so there is nothing bad about Tether and even Tether is the top 1 stable coin circulating in the crypto market.

agreed with this statement, as much as many rumours surrounding it. I honestly dont really worry much about the well being of this coin.
since my investment also usually measly amount, i have no doubt about the reliability of this coin, though it's always better if everyone just use this coin
temporarily for a mean of saving wealth against inflation.

[royalfestus]

Tether, being widely supported by American investors and backed by substantial funds in a bank, stands out as an exceptionally robust stablecoin. It currently holds a significant market share, making it one of the most prominent stablecoins available. Moreover, it enjoys strong backing from numerous blockchain platforms.

[woez]

So far, I personally still use Usdt and so far it's still very safe, although sometimes prices often change from time to time and I think this is reasonable and doesn't really make us feel like we're going to leave it, because until now we often use Usdt for transactions. daily needs. we can still trust Tether ( USDT ) for now.

I also think that it feels no different holding fiat (my country's currency) and USDT and in terms of value they are also very close. And all platforms on average have the option of either depositing or Wd using USDT. it's just that the fee value is different when we do WD and I think it's still very affordable. Yes. Fiat is still safe and comfortable for us to use.

[fzkto]

Tether, being widely supported by American investors and backed by substantial funds in a bank, stands out as an exceptionally robust stablecoin. It currently holds a significant market share, making it one of the most prominent stablecoins available. Moreover, it enjoys strong backing from numerous blockchain platforms.

I guess Tether has reserves, but I don't believe it is fully backed by dollars in the bank. A few years ago they personally talked about not being fully backed by the dollar, but having enough cryptocurrency to cover the missing dollars. To me it looks absurd that a company that prints paper produces absolutely nothing, has a capitalisation of 83 billion dollars in some banks, not even in the US jurisdiction.

[Abiky]

Tether, being widely supported by American investors and backed by substantial funds in a bank, stands out as an exceptionally robust stablecoin. It currently holds a significant market share, making it one of the most prominent stablecoins available. Moreover, it enjoys strong backing from numerous blockchain platforms.

Just because Tether is doing well mow, doesn't mean it's guaranteed to last forever. Besides being centralized, USDT is heavily-dependent on the US banking system. Therefore, it could fail if the US Dollar goes all the way down the drain in an instant. If you really want something safe that will truly last forever, then Bitcoin would be your only option. The cryptocurrency is trustless and free from government and corporate control.

Of course, there's always the issue of volatility. But that wouldn't be much of a problem for those who don't care about Fiat currencies. The latter is bound to collapse soon.
Who knows what would be of stablecoins like Tether (USDT) and USD Coin (USDC) in the future? Just my thoughts

[mich]

Well now Tether has made a alliance with the government of the country of Georgia. Tether and the Georgian Ministry of Economy signed a memorandum of understanding to collaborate on various issues about the blockchain.

Tether is also interested in investing in the country. This includes new local startup companies.  https://bitcoinist.com/building-bitcoin-powerhouse-tether-govt-of-georgia/

[promisedtech]

I trust usdt as it's been around and stable over the years, many a lot of people make their transaction using usdt . You can browse the market cap so as to enhance your trust

[mich]

USDT has just had successful launch on Cosmos via Kava. This will give stablecoin liquidity and help with expanding on Cosmos and EVM ecosystems.

https://bravenewcoin.com/insights/tether-launches-usdt-on-kava

[nicolas222]

They have been on the market for a long time, one of the first even if in the past they have had small problems now they are fine i think it is the safest among the stable coins

[Justin999]

Yes i did. After all i was always open trade with usdt pair and i saw most of people did that even still doing so. But after knowing such issues you mentioned, i open less trade with usdt but with busd. Maybe thus i can minimize my losses if anything bad happened. But if you are thinking about just holding stablecoin on wallet, then better to Division your money and keep busd usdc dai or other you wish along with usdt! Although i I don't think that anyone need to worry about this usdt matter

[shinratensei_]

They have been on the market for a long time, one of the first even if in the past they have had small problems now they are fine i think it is the safest among the stable coins

saying its safest among the other stablecoins out there might be an overstatement, though arguably its still one of best.
honestly considering the fact that it has been standing for long already means that if it collapses somehow many things will be affected.
I guess i'd still trust this coin knowing that its among the highest in term of market capitalization, maybe its one of those thing thats just too big to fail.
though regardless the diversification in my investment still have bigger role in anticipating such collapse from caused negative effects towards my investments.

[nick_2017]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

Here are a few notable examples:

Tether (USDT): Tether is one of the most widely used stablecoins and has been around since 2014. It claims to be backed 1:1 by fiat currency reserves, although its transparency has been a subject of scrutiny.

USD Coin (USDC): USDC is a stablecoin created by Circle and Coinbase. It is audited regularly and claims to have full reserves backing each token.

DAI: DAI is a decentralized stablecoin created on the Ethereum blockchain. It maintains its stability through an algorithmic mechanism rather than relying on direct fiat reserves. DAI has gained credibility due to its decentralized nature and community governance.

TrueUSD (TUSD): TrueUSD is another stablecoin backed by fiat currency reserves, subject to regular audits to ensure transparency and trustworthiness.

It's important to note that while these stablecoins are well-established and widely used, each comes with its own advantages and considerations. It's advisable to conduct thorough research, understand the mechanisms behind each stablecoin, and evaluate their credibility based on factors like transparency, audits, and regulatory compliance.

[Abiky]

Well now Tether has made a alliance with the government of the country of Georgia. Tether and the Georgian Ministry of Economy signed a memorandum of understanding to collaborate on various issues about the blockchain.

Tether is also interested in investing in the country. This includes new local startup companies.  https://bitcoinist.com/building-bitcoin-powerhouse-tether-govt-of-georgia/

Tether is doing a pretty good job by investing here and there, as well as, establishing its own Bitcoin mining operation. With such moves, the stablecoin is trying to solidify its place in the crypto/Blockchain industry. Up to this date, USDT has been holding its 1:1 peg with the US Dollar pretty well. But I believe there's something fishy with the stablecoin, especially when the issuing company used to "print" new units of USDT like crazy in the past. It's also facing scrutiny by the regulators for not providing clarity of its reserves.

When most other stablecoins were down during the recent US banking crisis, USDT was still afloat. If you're planning to use the stablecoin for day trading or as a short term investment, then go for it. But as a long-term investment or something serious that could last a long time, I'd suggest you choose the USD (Fiat) instead. Who knows how long Tether will last? Just my thoughts

[bastian466]

The most credible type of stablecoin in the Crypto space, in my opinion only usdt, the reason is simple and widely applied in every crypto exchange market, usdt is always a partner of several types of crypto and I also often use it to trade or secure assets, even though the exchange market is in my country provides trading of crypto pairs to legal currency or fiat currency

[jacafbiz]

Tether has not really been given the credit it deserves, people are now coming to terms on how difficult it is to run a Stablecoin business, just look at all their competitors, they have suffered and lose market share to Tether, for Tether to still be standing tall till now they must be doing something right, a scam can not last this long, some people are champion of Decentralised stable coins but the recent fiasco with Luna and waves stable coins makes people think twice on this. I, for one, believe Tether has contributed to this space more than any other Altcoins in the space

[woez]

In use cases in the trading world, there are many people/or trading institutions that only use one coin, namely USDT. if it's not credible I don't think that's what it's used for sure others will only after it's really time to enter the market they convert to BTC or ETH if the price is really low and that's a good reason to buy. That's right,. the name is also stablecoin. A trader who doesn't want to take more risk and puts more stress on their mind to choose a stable coin. Just be safe I think and it's better.

[Deddyhoku]

Tether is my only stable in ownr. I think that it too big to fail, that's why i believe in it. The whole industry depends on it

[barhavsky]

for now I still believe in using Tether (USDT), because in my opinion Tether (USDT) is the best stable coin at the moment and has the highest trading volume, so of course I believe if Tether (USDT) is still safer to use than other stable coin, then from that until now I still use Tether (USDT) for stable coin.

[JeffBrad12]

Yes i did. After all i was always open trade with usdt pair and i saw most of people did that even still doing so. But after knowing such issues you mentioned, i open less trade with usdt but with busd. Maybe thus i can minimize my losses if anything bad happened. But if you are thinking about just holding stablecoin on wallet, then better to Division your money and keep busd usdc dai or other you wish along with usdt! Although i I don't think that anyone need to worry about this usdt matter

thats true and I agreed, it's only become complicated if someone trying to hold their stablecoin for long term like for years, mainly because within that timeframe something might happen but for someone that just utilising it for saving wealth from trading the assets in general no need to worry about such complication after all even if it does collapsing we could easily just dump it right away. the thing with stablecoin in general is that their collapse happens but quite slow that it gives time to just dump the coin right away.
its quite different scenario if someone is holding for many years, since we all know things could be always changing tide when it comes to cryptocurrency in general.
however, always looking at the news involving these stablecoins in general definitely gonna be of tremendous helps.

[lobo13hf]

for now I still believe in using Tether (USDT), because in my opinion Tether (USDT) is the best stable coin at the moment and has the highest trading volume, so of course I believe if Tether (USDT) is still safer to use than other stable coin, then from that until now I still use Tether (USDT) for stable coin.

highest trading volume doesn't mean its best but at least its give assurance that you could alway liquidate your stablecoin anytime. not that the other have low trading volume, which means the other are just as good.
I think its more of how transparent the company behind them are in regard of their reserved money.

[Hispo]

It may sound ironic but to this day I still prefer to use BUSD instead Tether when comes to stablecoins. Even when getting sued by the SEC, BUSD has managed to keep its peg and continues to deliver FIAT in exchange of their tokens in a reliable way, that is specially remarkable considering it is a coin which is not allowed to print more tokens as the lawsuit against them does not resolve.  The circulating supply continues to decrease and the peg holding its place can be translated to a positive future for this stable-coin in the case Paxos proves BUSD is not a unregistered security whatsoever.

BUSD to this day has proven that was always fully backed.

[o48o]

Tether (USDT): Tether is one of the most widely used stablecoins and has been around since 2014. It claims to be backed 1:1 by fiat currency reserves, although its transparency has been a subject of scrutiny.
-cut-

I am not sure where you are getting your info but you are wrong here. It's not 1:1 backed by fiat money, that's why it gets fudded in the first place. It's backed by 84.7% fiat cash, and there are several transparency audits you can find from their site

This is from their homepage:



Now i understand that 1:1 fiat reserves would be better but not even banks have that. It's insane how much more people are demanding from pegged coins. Usdt keeps being most fudded stablecoin out there even though their track record should speak for itself.

[Ngemmeng]

I believe and I still use it to this day. there is no reason for me not to trust tether, tether is the most popular stable coin at the moment and has the biggest market cap at the moment. I think for now tether can be called the king of stable coins.

[Abiky]

It may sound ironic but to this day I still prefer to use BUSD instead Tether when comes to stablecoins. Even when getting sued by the SEC, BUSD has managed to keep its peg and continues to deliver FIAT in exchange of their tokens in a reliable way, that is specially remarkable considering it is a coin which is not allowed to print more tokens as the lawsuit against them does not resolve.  The circulating supply continues to decrease and the peg holding its place can be translated to a positive future for this stable-coin in the case Paxos proves BUSD is not a unregistered security whatsoever.

BUSD to this day has proven that was always fully backed.

BUSD is not as widely accepted as USDT is. It's not a multi-chain stablecoin, and it's currently facing issues with the SEC. Tether (USDT) has first-mover advantage, so it has everything necessary to retain its place on the market for a long time. The world's largest stablecoin by market cap hasn't lost its peg to the USD yet. Regulatory-compliance is the key for long term success of any stablecoin.

Let's see if Tether will be able to meet the everyday challenges of US regulatory agencies, in a highly-evolving industry. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about. Just my opinion

[JunkieMiner]

Most of the people that is in crypto uses the USDT as their stable coin, and mostly you have seen whether in Binance or other exchanges people mostly trades in USDT pair. Through this I can give you a suggestion that USDT can be better instead of some other stable coins like DAI i can say.

[albon]

Yes, I trust the USDT currency as a dominant stablecoin in the market; it has a huge market cap, and it is the third largest currency in CMC, and so far; it has survived for 9 years since its launch in 2014, and it is entirely different from other algorithmic currencies, although we should not trust a centralized stablecoin by 100%, because before there were many FUDs spread around USDT about its stability, transparency, and the Tether’s headquarters, and there were many cases of temporary de-pegging. Still, soon the USDT team processed the price to reach 1:1 against the US dollar, so it is better to diversify our wallet with other good alternatives of stablecoins if we have large capital and do not leave it in the USDT coin only.

[Jateng]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?
Thanks in advance for more experienced folks for sharing their insight!

The reason is that Tether (USDT) a stablecoin among other cryptocurrencies has been garnering significant attention but somehow raising questions about its transparency. Even though it maintains its loyalty to the US dollar but the questions remain about its reserves. I think Its extensively adoption and high liquidity continue to make Tether USDT more popular despite the persistent controversy. In my experience I find it easy in Gold-backed Stablecoins when it comes to establishing credibility. By being backed by gold reserves these digital currencies provide stability and confidence to investors that why gold stablecoin stands out as a steadfast and trustworthy option in an ever changing digital financial world meeting the need for reliability amid the complexity of cryptocurrencies.

[Zaichonok]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?
Thanks in advance for more experienced folks for sharing their insight!

The reason is that Tether (USDT) a stablecoin among other cryptocurrencies has been garnering significant attention but somehow raising questions about its transparency. Even though it maintains its loyalty to the US dollar but the questions remain about its reserves. I think Its extensively adoption and high liquidity continue to make Tether USDT more popular despite the persistent controversy. In my experience I find it easy in Gold-backed Stablecoins when it comes to establishing credibility. By being backed by gold reserves these digital currencies provide stability and confidence to investors that why gold stablecoin stands out as a steadfast and trustworthy option in an ever changing digital financial world meeting the need for reliability amid the complexity of cryptocurrencies.

Tether is the most popular stablecoin but nobody knows if Tether as a stablecoin really backed by us dollar, and what is the dollars reserve of Thether. They do not public the regular reports about their reserve and if there are any reports all of them are too old. That is why there is no trust to Tether. Ispite there is no trust people continue to use Tether.

[|MINER|]

To be honest, If you want to trade in cryptocurrency, you need to keep an eye on all the coins and analyze how they are moving. Because any kind of incident or drama can happen in the market at any time, such incidents have already happened many times in this market. However, I don't think anyone would call the coin you are trying to talk about here, the stable coin USDT, a scam. Although many allegations have come against them, they have finally overcome them. Still there is a saying in cryptocurrency but invest as much as you can afford to loose

[nelson4lov]

To be honest, If you want to trade in cryptocurrency, you need to keep an eye on all the coins and analyze how they are moving. Because any kind of incident or drama can happen in the market at any time, such incidents have already happened many times in this market. However, I don't think anyone would call the coin you are trying to talk about here, the stable coin USDT, a scam. Although many allegations have come against them, they have finally overcome them. Still there is a saying in cryptocurrency but invest as much as you can afford to loose

USDT has been one of the most controversial stablecoins in the space, I'm always surprised that it manages to survive irrespective of the amount of fud being thrown at it. The biggest issue with USDT is that it's supply and demand is managed by a centralized entity which introduce a single point of failure or coordination (which is a problem that bitcoin and other decentralized protocols have worked so hard to fix) but then, decentralized alternatives still have a long way to go.

[milewilda]

To be honest, If you want to trade in cryptocurrency, you need to keep an eye on all the coins and analyze how they are moving. Because any kind of incident or drama can happen in the market at any time, such incidents have already happened many times in this market. However, I don't think anyone would call the coin you are trying to talk about here, the stable coin USDT, a scam. Although many allegations have come against them, they have finally overcome them. Still there is a saying in cryptocurrency but invest as much as you can afford to loose

USDT has been one of the most controversial stablecoins in the space, I'm always surprised that it manages to survive irrespective of the amount of fud being thrown at it. The biggest issue with USDT is that it's supply and demand is managed by a centralized entity which introduce a single point of failure or coordination (which is a problem that bitcoin and other decentralized protocols have worked so hard to fix) but then, decentralized alternatives still have a long way to go.

Yes, lets point out some of those issues or given out some links;

Why tether and stablecoin USDT have become a big crypto worry
The Coin That Could Wreck Crypto
The Tether controversy, explained

Same as you, i do still wonder on why these stablecoins are really that gaining that much support and recognition? Because its pegged on USD which from the word itself stable then
it would be normal that people would really be used up since we would really be looking for something that could really save us from volatility on the time that we do trade up some
pairs. Despite of these cons but still people do really look forward on using this but of course everything does have the risks no matter which way you would really be going to.

[mich]

Well I do trust Tether to be best stablecoin. But it did not keep its promise to spend 15% of its net profits in Bitcoin to diversify its reserves.
But I do still think it is best stabelcoin. It is not a scam project like some who make promises and do not keep them.
https://crypto.news/tethers-btc-portfolio-expands-but-falls-short-of-public-pledge/

[Mehedi72]

Have a look on usdt market. It is still heavily being treaded. Such negative prediction aren’t new, i've been reading such news since many years but usdt is still safely treading yet. there are possibilities  to freeze usdt in your own wallet, i know but I'm holding usdt on exchange account for trade without having any hesitation. But if you hesitate then usdc, busd are  trustable stable coins to trade with

[fmz89]

there is no stable coin this day is safe, even usdc regulated stable coin can depeg when bank run, tether is oversea company
you cannot seeing the truth behind it. before usdt i saw collapse algoritmic stable coin "NuBits" failed and die. this makes me avoid luna stable coin, thats horrible events caugh many people.

[cute nmp]

Sure I do trust Tether(USDT) more than anything in cryptocurrency, More than half of my portfolio is in usdt especially now that we are in a bear market and most altcoins are continuously falling day by day, don't usually hold anything for a long now usually sells my assets and converts them into stablecoins for safety and it has saved me from taking so many losses this year.

[coinerer]

To be honest, If you want to trade in cryptocurrency, you need to keep an eye on all the coins and analyze how they are moving. Because any kind of incident or drama can happen in the market at any time, such incidents have already happened many times in this market. However, I don't think anyone would call the coin you are trying to talk about here, the stable coin USDT, a scam. Although many allegations have come against them, they have finally overcome them. Still there is a saying in cryptocurrency but invest as much as you can afford to loose

No cryptocurrency coin is 100% trusted and neither is Bitcoin 100% trusted. So how can we fully trust USDT in that case.  Crypto world is very risky so we have to accept the risk and use them and hold crypto. USDT is a user friendly stablecoin it is still very popular and I have been using it for a long time without facing any problem yet. there are many good stablecoins in the crypto market like USDC, BUSD, DAI so one can choose any coin it's their personal choice. But no matter where someone hold their money, they must know how to afford losses

[Hildentine]

Offcourse i am Trust Tether USDT Stablecoin because its a very strong project and huge amount of people use this its a very great team and the project is real some time some fake news are survive around but if any confirm news not come so easily use this .

[Abiky]

Yes, I trust the USDT currency as a dominant stablecoin in the market; it has a huge market cap, and it is the third largest currency in CMC, and so far; it has survived for 9 years since its launch in 2014, and it is entirely different from other algorithmic currencies, although we should not trust a centralized stablecoin by 100%, because before there were many FUDs spread around USDT about its stability, transparency, and the Tether’s headquarters, and there were many cases of temporary de-pegging. Still, soon the USDT team processed the price to reach 1:1 against the US dollar, so it is better to diversify our wallet with other good alternatives of stablecoins if we have large capital and do not leave it in the USDT coin only.

Tether may be the oldest stablecoin around, but that's not a guarantee it will always be valued at $1. Anything can make it collapse in the future. After all, USDT is a centralized stablecoin. It's best to diversify your investment into various stablecoins for complete peace of mind. Or if you want to avoid the risks of holding a stablecoin, cash out to Fiat instead.

Stablecoins are only suitable for day trading and for short-term protection against market volatility. But for long-term wealth preservation, I'd suggest you look elsewhere. Who knows how long Tether will be able to hold its peg against the USD? Just my opinion

[mich]

Well I do trust USDT and there is some good news for the top stablecoin. A US court has decided to dismiss the class action lawsuit against Tether and issuing exchange Bitfinex.

Tether did publicly said it has $3.3 Billion in reserves.  And that it is backed 1 to 1 with US dollar. If there is a coin that wins in a court case then we can trust it

https://dailyhodl.com/2023/08/06/us-court-dismisses-class-action-lawsuit-against-bitfinex-and-tether/

[RiverBoy]

The cryptocurrency market is growing everyday by day as more projects are also lunch in the cryptocurrency space, USDT has been a long term stable coin which many cryptocurrency traders and investors has been using in defense, I mean to maintain the assets value when market going down, then Tether we play a good role on that, which have been trusted, they're other stable coin like BUSD is a stable coin and is also a strong stable coin in the ecosystem.

[tokyohd]

Tether (USDT) is a type of cryptocurrency known as a stablecoin, which is designed to maintain a stable value by pegging its price to a traditional currency or a commodity like the US Dollar or other fiat currencies. The idea is to provide a more predictable value compared to other cryptocurrencies like Bitcoin or Ethereum!
Many traders trust this coin!
But i think, No coin in the crypto world is risk free be it stable coin or unstable coin! A few days ago, We saw the crash of Luna - Stable Coin (USTC). So, I don't consider any coin to be risk free in the ceypto univers!
This is my personal opinion!

[Abiky]

Well I do trust USDT and there is some good news for the top stablecoin. A US court has decided to dismiss the class action lawsuit against Tether and issuing exchange Bitfinex.

Tether did publicly said it has $3.3 Billion in reserves.  And that it is backed 1 to 1 with US dollar. If there is a coin that wins in a court case then we can trust it

https://dailyhodl.com/2023/08/06/us-court-dismisses-class-action-lawsuit-against-bitfinex-and-tether/

As long as Tether complies with the law, there should be nothing to worry about. The issuing company must do everything possible to make investors whole if a crash happens in the future. Sort of like what Circle did when USDC lost its peg for a short period of time. If there was some sort of insurance or guarantee that I'll get my money back no matter what, I'd be sold.

So far, USDT has been holding its peg to the USD with no signs of decline. It's the pioneer in the stablecoin industry after all. This gives USDT first-mover advantage among its competitors. With US regulators weighting on the industry, stablecoins will be ready for mainstream adoption. Maybe USDT will eventually replace the US Dollar? Just my thoughts

[Blitzboy]

Well I do trust USDT and there is some good news for the top stablecoin. A US court has decided to dismiss the class action lawsuit against Tether and issuing exchange Bitfinex.

Tether did publicly said it has $3.3 Billion in reserves.  And that it is backed 1 to 1 with US dollar. If there is a coin that wins in a court case then we can trust it

https://dailyhodl.com/2023/08/06/us-court-dismisses-class-action-lawsuit-against-bitfinex-and-tether/

As long as Tether complies with the law, there should be nothing to worry about. The issuing company must do everything possible to make investors whole if a crash happens in the future. Sort of like what Circle did when USDC lost its peg for a short period of time. If there was some sort of insurance or guarantee that I'll get my money back no matter what, I'd be sold.

So far, USDT has been holding its peg to the USD with no signs of decline. It's the pioneer in the stablecoin industry after all. This gives USDT first-mover advantage among its competitors. With US regulators weighting on the industry, stablecoins will be ready for mainstream adoption. Maybe USDT will eventually replace the US Dollar? Just my thoughts

To think that USDT may take the place of the US Dollar is absurd. A country's economy and military might support the USD. Whereas Tether? It is merely a computer representation of a dollar. Although USDT was a stablecoin pioneer, this does not automatically grant it the right to rule. Keep in mind that pioneers frequently open the way only to be surpassed by superior innovations.

So its wishful thinking to compare Circle's management of USDC to what Tether would do. They're different entities with different operational approaches. "Compliance" isnt just a tick-box exercise, it's a commitment to transparency and governance. How transparent has Tether been thus far?

The world of cryptocurrencies might not be your playground if you're looking for a surefire safety net. This area needs close attention and skepticism. Don't buy into flimsy assumptions.0

[wallet4bitcoin]

Tether has its backing with real fiat currency stored. It gets audited now and again. This is what is needed to have the trust of the community of users. The tech behind the use of tether isn't in the hands of tether to control so that also leaves it with sufficient trust levels from its users. Lastly, it hasn't depegged >1% before. At least, non that I've heard about.

[Abiky]

To think that USDT may take the place of the US Dollar is absurd. A country's economy and military might support the USD. Whereas Tether? It is merely a computer representation of a dollar. Although USDT was a stablecoin pioneer, this does not automatically grant it the right to rule. Keep in mind that pioneers frequently open the way only to be surpassed by superior innovations.

So its wishful thinking to compare Circle's management of USDC to what Tether would do. They're different entities with different operational approaches. "Compliance" isnt just a tick-box exercise, it's a commitment to transparency and governance. How transparent has Tether been thus far?

The world of cryptocurrencies might not be your playground if you're looking for a surefire safety net. This area needs close attention and skepticism. Don't buy into flimsy assumptions.0

There has been talks about a US Digital Dollar by the government itself. They could either make their own digital currency from scratch (Central Bank Digital Currency or CBDC) or adopt a stablecoin as their own. If they decide to collaborate with Bitfinex (the issuing company of Tether) for the digital USD program, then it would be a complete game changer. The odds of this happening in the future are slim, but we should not take this out of the picture.

So far, Tether has been doing fine in keeping its peg against the USD. Considering that it has first-mover advantage, there's a high probability it will remain the dominant stablecoin forever. Not even PayPal's USD stablecoin (PYUSD) will take its place on the market. That is if Tether will be able to survive a hostile regulatory environment. If you want to be safe, just cash out to USD and forget about the rest. No one can predict the future, so lets hope for the best. Just my opinion

[JunkieMiner]

I personally referred to the stablecoin which mostly people used is USDT, and the 2nd option is BUSD. But whenever I'm thinking of putting my funds in these coins, someone's told me that don't put your funds in these. I'm hearing this from the previous two years. But nothing happened till now.

[Xal0lex]

So far, Tether has been doing fine in keeping its peg against the USD. Considering that it has first-mover advantage, there's a high probability it will remain the dominant stablecoin forever. Not even PayPal's USD stablecoin (PYUSD) will take its place on the market. That is if Tether will be able to survive a hostile regulatory environment. If you want to be safe, just cash out to USD and forget about the rest. No one can predict the future, so lets hope for the best. Just my opinion

There is nothing worse than promoting a shitcoin like PayPal's USD stablecoin in the crypto sphere. It is centralized and censored even worse than any of the well-known and popular centralized stablecoins. If you study this stablecoin in more detail, you will see that it turns out this stablecoin has a function to block any coins in any wallet. This is so in the spirit of PayPal, control everything as much as possible.

[Abiky]

There is nothing worse than promoting a shitcoin like PayPal's USD stablecoin in the crypto sphere. It is centralized and censored even worse than any of the well-known and popular centralized stablecoins. If you study this stablecoin in more detail, you will see that it turns out this stablecoin has a function to block any coins in any wallet. This is so in the spirit of PayPal, control everything as much as possible.

Tether and USD Coin also have a "blacklist" where they freeze or censor certain people from transacting on the Blockchain. It's the way the smart contract is written on ETH and other competing chains. This is to please the regulators more than anything else. People would be foolish enough to put all of their life savings in a centralized stablecoin like PayPal USD. There's no guarantee it will hold its peg with the USD forever. Even USDT and USDC are at risk. And don't let me get started with decentralized stablecoins like DAI and USDJ (even though they're much safer than ordinary stablecoins).

This new offering from PayPal is just an attempt to "get a piece of the pie". PayPal will be the one that will benefit most from this craze, especially if the US government approves the circulation of PYUSD. Despite the harmful effects of centralization, I think people will trust PYUSD more than Tether because of the company's established presence in the financial sector. The new stablecoin enjoys strong branding from its parent company (PayPal). Who knows if PYUSD overtakes USDT as the #1 stablecoin in the world? Just my opinion

[dlightag]

USDT stable coin has come to exist for a long time now, which many companies, institute and prefect sectors has been using in one way or the other in the process of transaction stability of Bitcoin and other alt-coins exchange rate and have been tested and trusted Coin long time ago, talk of me individual is a trusted Coin for stable coin as the name implies.

[JeffBrad12]

I personally referred to the stablecoin which mostly people used is USDT, and the 2nd option is BUSD. But whenever I'm thinking of putting my funds in these coins, someone's told me that don't put your funds in these. I'm hearing this from the previous two years. But nothing happened till now.

well some people are indeed getting too invested in the rumours but there's nothing wrong with such warning honestly. you could diversify your stablecoin and have some ease of mind in this case.
the emergence of paypal new stablecoin in the future also could easily helps you diversify your money therefore you don't really need to worry about some stablecoin collapsing like what happened in previous years
where tUSD losing its peg causing the value to fall significantly and many incurred loss more than 80% of their assets in that coin.
thats why some people are highly pessimistic with these stablecoin in general, because maybe they've experienced first hand collapse of these stablecoin which cause them to instantly lose money.

[internetional]

In 2018, Tether allowed token redemption upon passing KYC on the tether.to website. I applied for verification at that time, and my application is still in the queue for review. Even if it ever reaches the front of the queue, all my documents will have expired by then. In my opinion, this means I can't redeem Tether’s tokens. A stablecoin without redemption capabilities doesn’t provide opportunities for arbitrage, which are necessary to maintain its value. So, until I can redeem USDT tokens, I won't risk buying them.

[Kezacky]

I'm think everyone who owns crypto assets believes in USDT because USDT is the best stablecoin in my opinion and some others. and I'm also sure that everyone must have saved assets in USDT. and the other option in my opinion is BUSD because Binance is one of the best at the moment and a big Exchange market based on coinmarketcap data.

[Xal0lex]

There is nothing worse than promoting a shitcoin like PayPal's USD stablecoin in the crypto sphere. It is centralized and censored even worse than any of the well-known and popular centralized stablecoins. If you study this stablecoin in more detail, you will see that it turns out this stablecoin has a function to block any coins in any wallet. This is so in the spirit of PayPal, control everything as much as possible.

This new offering from PayPal is just an attempt to "get a piece of the pie". PayPal will be the one that will benefit most from this craze, especially if the US government approves the circulation of PYUSD. Despite the harmful effects of centralization, I think people will trust PYUSD more than Tether because of the company's established presence in the financial sector. The new stablecoin enjoys strong branding from its parent company (PayPal). Who knows if PYUSD overtakes USDT as the #1 stablecoin in the world? Just my opinion

That's right, PayPal is using its distribution and its brand to promote absolutely toxic ideas in the crypto community. PayPal are known for their inadequate censorship regarding transactions, so in the crypto world they will block everything at the behest of regulators and will never be a customer-centric company. For the crypto community such an adopting is disastrous, just like the spread of a parody of cryptocurrency, in the form of CBDC.

[Mehedi72]

This new offering from PayPal is just an attempt to "get a piece of the pie". PayPal will be the one that will benefit most from this craze, especially if the US government approves the circulation of PYUSD. Despite the harmful effects of centralization, I think people will trust PYUSD more than Tether because of the company's established presence in the financial sector. The new stablecoin enjoys strong branding from its parent company (PayPal). Who knows if PYUSD overtakes USDT as the #1 stablecoin in the world? Just my opinion

although that was just a guess/speculation but your opinion seems logical enough to me. Recently it is being trade on some so called exchanges and losed 52% trading volume within 24H but this is just an start and still have time to go forward as you said People always Trust a established organization which has concrete assurance of surviving, back and ability to connected. centralization could be reason for manay obstruction but usdt also centralized crypto in comparison. But i still give more priority to usdt than new comer pyusd

[Pandji02]

I'm think everyone who owns crypto assets believes in USDT because USDT is the best stablecoin in my opinion and some others. and I'm also sure that everyone must have saved assets in USDT. and the other option in my opinion is BUSD because Binance is one of the best at the moment and a big Exchange market based on coinmarketcap data.

Well, I don't think you can speak for all crypto owners. But it's definitely the best option we have IMO. I don't trust BUSD and BNB at all. Binance is having not the best times right now. And the worst may yet to come.

[goxcraft]

Tether can be the next bomb that explodes. Surprisingly, when USDC MC decreased Tether marketcap, it raises. It's because tether redemption is not available right now. US banks are stopping cashing Tether.

[Abiky]

That's right, PayPal is using its distribution and its brand to promote absolutely toxic ideas in the crypto community. PayPal are known for their inadequate censorship regarding transactions, so in the crypto world they will block everything at the behest of regulators and will never be a customer-centric company. For the crypto community such an adopting is disastrous, just like the spread of a parody of cryptocurrency, in the form of CBDC.

Yes. PayPal is known to be too restrictive at times. Customers complained about getting their accounts closed for no reason. Imagine what PayPal will do with stablecoin transactions. Anything they deem suspicious, will have your stablecoin funds frozen or confiscated at will. If both Tether and USD Coin's blacklist wasn't enough, prepare yourself for the worst.

It's unfortunate the crypto industry is heading towards centralization. This is not what Satoshi wanted in the first place. With "Wall Street" in the game, don't expect things to get better in the future. Who knows how Tether will fare in the future against a highly-competitive stablecoin market? Just my opinion

[coin-score.ai]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

Hi all,

I've been closely following the discussions here about trust in Tether and I'd like to share some thoughts as well. Personally, I find USDT a useful tool in the crypto ecosystem, especially when it comes to trading and avoiding the volatility of other cryptocurrencies. The fact that it is one of the most liquid and affordable stablecoins adds to its undeniable value.

However, I cannot overlook the question marks surrounding the transparency and reserves backing USDT. In the past, the lack of clear independent audits has been a point of concern for me and many others.

We have noticed that Tether has started to take steps to increase transparency and regulatory compliance, which is a step in the right direction. But from my perspective, there is still a lot to do to build solid trust.

In conclusion, using USDT comes with benefits as well as risks. If you decide to use it, make sure you are fully aware of both aspects. I personally use it with caution and prefer to only use it as a bridge between transactions, and not as a long-term store of value.

Attached is a fundamental analysis of Theter.

https://coin-score.ai/cryptoprojects/fundamental-analysis-of-the-tether-usdt-cryptocurrency

[Mikky.Crypto]

I'm think everyone who owns crypto assets believes in USDT because USDT is the best stablecoin in my opinion and some others. and I'm also sure that everyone must have saved assets in USDT. and the other option in my opinion is BUSD because Binance is one of the best at the moment and a big Exchange market based on coinmarketcap data.

USDT's like the old reliable in the crypto scene. It's no wonder it's got a solid fan base. As for BUSD, Binance does have a good track record, so that's a solid choice too.

[Biznesmen]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

USDT is a crypto currency stable coin, which means it is supposed to be worth one dollar and can be redeemed, in theory, at any point for one dollar. USDT is widely popular, and it is used across almost every major crypto currency exchange, every major defi platform, and every blockchain's got Usdt, the wide-scale acceptance aside, has been plagued by controversy over the years. Constant questions regarding the company's reserves and their ability to actually meet their obligations never cease to circulate online. The founders of usdt were only doxed after the paradise paper leak showed that it was made by the same team behind the Bitfinex crypto currency exchange, and as a whole host of other allegations have basically circulated, they've all worked to tarnish the reputation of usdt and have led to constant fears that usdt could implode and take all of crypto right down the toilet.

[Abiky]

USDT is a crypto currency stable coin, which means it is supposed to be worth one dollar and can be redeemed, in theory, at any point for one dollar. USDT is widely popular, and it is used across almost every major crypto currency exchange, every major defi platform, and every blockchain's got Usdt, the wide-scale acceptance aside, has been plagued by controversy over the years. Constant questions regarding the company's reserves and their ability to actually meet their obligations never cease to circulate online. The founders of usdt were only doxed after the paradise paper leak showed that it was made by the same team behind the Bitfinex crypto currency exchange, and as a whole host of other allegations have basically circulated, they've all worked to tarnish the reputation of usdt and have led to constant fears that usdt could implode and take all of crypto right down the toilet.

Cryptocurrency? More like a centralized digital Fiat currency. It's nothing like an ordinary cryptocurrency due to the way it's designed. You can see why banks and "Wall Street" like stablecoins a lot. Especially USDT. After all, it's the biggest stablecoin on the market. But it's also the most manipulated digital asset.

The shady USD reserves and constant printing of new units (although that eased off a bit), tell us USDT cannot be trusted with your money. Since it's not insured by a US government agency (particularly the FDIC), investors will lose everything in an instant after a hard crash. Same goes for USDC and other variants. If you really want to be safe, cash out to Fiat (USD) instead. Who knows how long will stablecoins last? Just my thoughts

[Psynthax]

there are many rumours surrounding USDT, but we all know this coin has been standing for so long if it collapse i doubt entire stablecoin market will not have any aftermath effect.
I mean best course of action of course diversifying across various stablecoin but if its just temporary to keep our wealth from fluctuation, i think USDT serves its purpose.

[bettercrypto]

Honestly, I only use USDT when I convert my profit to our currency using P2P, and then I only use it when I have a trading pair with other cryptocurrencies like Ethereum, BnB, Pepe, Shib, and others.

That's just what I do, but what you say is holding is not. That's why if you ask me to buy USDT versus USD, of course I will choose USD; as far as I know, it is more stable than USDT. But of its other uses, I can't think of anything or remember, because some say that when it comes to transparency, it's not really that transparent.

[Teraboy]

i honestly don't care with all these news, because every coin doesn't matter how big could definitely have the chance of collapsing, i don't think USDT is an exception.
whats important is to simply watch out for the news about the collapse of the stablecoins.
because that way you can exit the stablecoin and retain your money.

[nur1labs]

USDT is trust. but we not know when that collapsed. As we know this digital world not have real value depend on.

[FahriZah]

I involved with crypto since 2015 and when i'm trading in crypto 2015 / 2016 then no have any USDT coins and sometimes got lose because totally depends on BTC market value when btc down than my balance is also down when btc up than my balance also up like this but when i know as well USDT comes in the crypto market than i'm very happy and my trade is profitable because USDT is stable coin and still now i trusted USDT always.

[Abiky]

i honestly don't care with all these news, because every coin doesn't matter how big could definitely have the chance of collapsing, i don't think USDT is an exception.
whats important is to simply watch out for the news about the collapse of the stablecoins.
because that way you can exit the stablecoin and retain your money.

Exactly. Even Bitcoin can collapse in the future. For what I know, nothing is guaranteed to last forever. Only you are responsible of protecting your funds from undesired events. By taking the necessary security precautions, you'll avoid losing it all in an instant. A Tether collapse would surely make a huge impact on the crypto market. In a bad way, of course. I doubt investors will trust stablecoins again after such a disaster.

Who cares about stablecoins when crypto was meant to eliminate the middleman in the first place? Truly-decentralized cryptocurrencies like Bitcoin and Litecoin will be the ones that will last a lifetime. The rest will simply fade away into oblivion. With CBDCs right around the corner, we can finally say goodbye to stablecoins for good. Just my opinion

[yazher]

there are many rumours surrounding USDT, but we all know this coin has been standing for so long if it collapse i doubt entire stablecoin market will not have any aftermath effect.
I mean best course of action of course diversifying across various stablecoin but if its just temporary to keep our wealth from fluctuation, i think USDT serves its purpose.

For me, I haven't chosen this coin as an investment rather it's just some alternative whenever I get some trouble trading to BTC because sometimes our local exchanges are congested and to preserve the current high price of bitcoins that time, I temporarily converted my BTC to USDT but that's a risky move considering this coin can be close at any moment and they can freeze it easily whenever they want to. But as for me, I haven't found any problem doing it.

[Wakate]

i honestly don't care with all these news, because every coin doesn't matter how big could definitely have the chance of collapsing, i don't think USDT is an exception.
whats important is to simply watch out for the news about the collapse of the stablecoins.
because that way you can exit the stablecoin and retain your money.

USDT is one of the trusted stable coins in the market right now and I can see that there are some persons that are trying to fud the project. USDT team had invested there funds in Bitcoin and other tokens too so it is going to be hard for us to see anything like rug pull in the project. It is a regulated stable which is different from it fellow competitors that might be trying to weigh it down. It is true that the crypto market is very risky since a lot had happened in the past and even in the future, more can still happen. We need to measure our safety and not to put too much trust on any cryptocurrency apart from Bitcoin.

[mich]

Well Tether has just printed $4 Billion usdt in just the past month. And I still think it is the most trusted stalecoin in crypto with biggest marketcap of all stablecoins.

Tether is going to plan 5 new projects in the year 2024. It plans to really have a impact in Web 2. https://www.cryptopolitan.com/tether-mints-4-billion-usdt-in-a-month/

[libert19]

I don't trust any crypto, but I gotta give it to Tether, it has been always been surrounded by accusations but their stable coin never depegged (It has momentarily due to fuds).

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Usdc, don't ask for reasons, I just do.

[Belarge]

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Choosing a more stablecoin, I'm going with USDT and USDC, they're similar and served different objectives but they're both mostly used as gas fees. None of these crypto projects are safe for us to invest, rather we should plan for good results and plan for better days ahead, always prepared for the worst to happen in the system. First of all, it's not advisable to put your trust in any of these projects because there's presence of high volatility in the system, we just stick to a promising project and invest in, none of us is confident because incident that would happen tomorrow or next can greatly affects our planning and balanced positions in the market.

[batang_bitcoin]

Many still like Tether no matter issues are being thrown on it. With the volume that it has, that only tells one thing and that means that it's being trusted by many. Or not being trusted but because of the volume, they choose to use it instead of any other stable coins.

Usdc, don't ask for reasons, I just do.

This is the other one that I use these days. I don't know why as well but maybe there's a magnet on it that makes me use it because I have always seen it being said by people.

[JeffBrad12]

Many still like Tether no matter issues are being thrown on it. With the volume that it has, that only tells one thing and that means that it's being trusted by many. Or not being trusted but because of the volume, they choose to use it instead of any other stable coins.

Usdc, don't ask for reasons, I just do.

This is the other one that I use these days. I don't know why as well but maybe there's a magnet on it that makes me use it because I have always seen it being said by people.

most of people, just like me, want most convenient way to deal with storing asset which didn't fluctuate in value and USDT did just that with the fact that USDT is accepted in so many places.
kinda give assurance that my wealth is safe in this form of stablecoin.
of course diversifying portfolio is also good way, but sometime you know we're too lazy to deal with these diversification while also not adding some additional value towards our wealth that we just ignore it, considering the fact that USDT might be too big to fail but honestly seeing ftx and its stablecoin went to zero, i doubt the phrase, too big to fail is still relevant. but regardless its just most convenient.

[Dr.Osh]

I don't trust any crypto, but I gotta give it to Tether, it has been always been surrounded by accusations but their stable coin never depegged (It has momentarily due to fuds).

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Usdc, don't ask for reasons, I just do.

Since the UST case, my trust in crypto has decreased, even some of the investments that I felt had great potential have also become scams. Back to the case of Stable coins, I also don't believe in USDT, however, the stable coin that I use most often is USDT. The reason is because USDT has a ranking of 3 on CMC, and I think USDT is the most frequently used stable coin at the moment.

[dansus021]

by marketcap usdt is the best but did u really believe that tether has that money and this only usdt we dont talk about their gold backed xaut and eurt and other. if all combine the money would be a lot?

one thing why tether is popular because it is everywhere on almost any popular chain and many centralized exchange do i believe the answer is yes and no

[Abiky]

I don't trust any crypto, but I gotta give it to Tether, it has been always been surrounded by accusations but their stable coin never depegged (It has momentarily due to fuds).

If the accusations are true, then Tether (USDT) is bound to lose its peg sooner or later. It's like a "ticking time bomb". Once it detonates, crypto market prices will plunge like never before. A recovery is certain, but it will take a lot longer than expected. It will be a great buying opportunity for whales, but a huge loss for investors.

You can never trust something that isn't backed by the government. Private companies are known to fail over time. But governments always manage to manipulate their currencies for their own convenience. I believe stablecoins will end up being replaced by CBDCs, as governments force their use. It will be a short ride for Tether, USD Coin, and the likes. Ultimately, what matters is decentralization. As long as we have truly-decentralized cryptocurrencies by our side, nothing else matters.

[Cryptoababe]

I've considered USDT to be the most trusted stable coins after the recent depegs of stablecoins. Most time, i do liquidity mining with stable coins before getting to know about Bitget smart portfolio where I can easily pair anything. But then, I loss some funds due to USDC depeg cos I converted some to USDT when at 0.8 USD per USDC. So now, I pair with USDT only.

[Justin999]

Many still like Tether no matter issues are being thrown on it. With the volume that it has, that only tells one thing and that means that it's being trusted by many. Or not being trusted but because of the volume, they choose to use it instead of any other stable coins

Still i haven’t found any bad report that make me worry about usdt. And i believe most of us here, use usdt daily for trading, for business, investment, payment and others reasons. But if anyone think that usdt is risky, then crypto market is offers a lots of alternative ways where need can fulfilled with others stable altcoins. Usdc dai are available and also others stablecoin are available. But if you ask about me, i still Trust usdt

[mich]

I still do trust Tether and think it is the best stablecoin. Now it will invest $500 Million into a Bitcoin mining business over the next 6 months.
It will start with mining in the country Uruguay and wants to reach 1% of Bitcoin mining computer power.
https://news.bitcoin.com/tether-charts-strategic-course-in-bitcoin-mining-plans-500-million-infusion/

[slashz9]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

For now USDC and BusD are the most credible in my opinion, but it's not impossible that people don't use Tether, because I sometimes sell my USDT via P2P and they still accept it.

[Bushdark]

I've considered USDT to be the most trusted stable coins after the recent depegs of stablecoins. Most time, i do liquidity mining with stable coins before getting to know about Bitget smart portfolio where I can easily pair anything. But then, I loss some funds due to USDC depeg cos I converted some to USDT when at 0.8 USD per USDC. So now, I pair with USDT only.

I think the USDT team are doing a Weldon job by using part of the liquidity profits to invest in Bitcoin and other altcoins like Ethereum that have good potential of doing well in the market. I don't know about other stable coins but I think USDT is the best stable coin in the market Right now.  Like we all know that the Crypto market is very risky and we need to take the risk we know we can afford to lose.
We don't have to try any cryptocurrency project because the worse can happen at anytime.

[Cryptoababe]

We don't have to try any cryptocurrency project because the worse can happen at anytime.

I do try other cryptocurrency project though. But I try with the amount I can afford to lose.
Although, I prefer using USDT in most cases because it has always been pegged.

[mich]

I do trust a Stablecoin that I think is doing good deeds. Tether did freeze $225 Million in usdt that the U.S. Department of Justice says is connected to human trafficking.
The blockchain analysis was done by Chainalysis. It is the biggest amount of usdt that has even been froze.
https://beincrypto.com/tether-freezes-human-trafficking-usdt-funds/

[jrrsparkles]

I do trust a Stablecoin that I think is doing good deeds. Tether did freeze $225 Million in usdt that the U.S. Department of Justice says is connected to human trafficking.
The blockchain analysis was done by Chainalysis. It is the biggest amount of usdt that has even been froze.
https://beincrypto.com/tether-freezes-human-trafficking-usdt-funds/

But how and who decide that its used for illegal purpose and even if its used for illegal purpose it doesn't mean that all cryptos are used for such activities. Imagine bitcoin having a freeze button in the hands of someone?

Will you still buy bitcoin or prefer that is not centralized?

[Mate2237]

Tether (USDT) is a Centralized Cryptocurrency and that is why it is a stable coin and as others have said, they the exchange can freeze your USDT if anything happens in the process of transaction or other activities so I will only invest in decentralized altcoins which Ethereum also look like one. Though people like USDT because it stable nature and for now all the altcoins which is stable in nature is not in my interest to invest I will look to invest only on unstable altcoins.

Many people use USDT because when they keep they money there and when the price comes down they would not lost much but if it is bitcoin they drastically lost. And USDT is for short term investment though you can use it for long term but short term investors are found in the altcoin more.

[Publictalk792]

Tether (USDT) is a Centralized Cryptocurrency and that is why it is a stable coin and as others have said, they the exchange can freeze your USDT if anything happens in the process of transaction or other activities so I will only invest in decentralized altcoins which Ethereum also look like one. Though people like USDT because it stable nature and for now all the altcoins which is stable in nature is not in my interest to invest I will look to invest only on unstable altcoins.

Many people use USDT because when they keep they money there and when the price comes down they would not lost much but if it is bitcoin they drastically lost. And USDT is for short term investment though you can use it for long term but short term investors are found in the altcoin more.

Stable coin like USDT is a best option if you want to store some money online and you don't want to invest in any altcoin so USDT is the best option to store.
USDT is a type of cryptocurrency that is controlled by a specific exchange and they can freeze your money at anytime. Unstable altcoins may offer the possibility of making more money but they also have more risks. It really depends on what you want to achieve with your investment. It is a good idea to have a mix of stable and unstable altcoins in your portfolio.
But they thing is that these stable coins can depegg anytime and these can give a loss to you. Like we have an example of UST based on Luna network. When Luna Collapse the UST automatically collapse and they give a huge loss to investors.

[MIner1448]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

I trust more than I don't trust. After all, this stemcoin has already been tested by time, it has stood the test of time and any fluctuations in the market, I don’t remember that there were any global problems with it, everyone who asks me which stemcoin is the most stable, I will answer USDT.

[oktana]

Many still like Tether no matter issues are being thrown on it. With the volume that it has, that only tells one thing and that means that it's being trusted by many. Or not being trusted but because of the volume, they choose to use it instead of any other stable coins.

Usdc, don't ask for reasons, I just do.

This is the other one that I use these days. I don't know why as well but maybe there's a magnet on it that makes me use it because I have always seen it being said by people.

For someone like me, I have always preferred USDT. I guess it's because this was a common cryptocurrency for payment a couple of years back. And it was my favorite not knowing the things that are possible with it. I have heard that they can freeze your funds (I didn't really know this) and that is disturbing because I don't want anyone having such power over my money. Additionally, I heard that their assets aren't completely backed up, etc. Maybe the USDC is indeed a better choice.

[Belarge]

I trust more than I don't trust. After all, this stemcoin has already been tested by time, it has stood the test of time and any fluctuations in the market, I don’t remember that there were any global problems with it, everyone who asks me which stemcoin is the most stable, I will answer USDT.

Putting my trust in stablecoins 100% because it's general and popular, unlike some projects that are not listed on most popular exchange. Stablecoins are used as gas fees for crypto transactions, that's how these stablecoins operates. I do actually trust these stablecoins because they have been in existence in the past decades, meaning they have survived heavy bear season that affected most crypto projects. USDT is the most stablecoin for me, I've converted most of my crypto assets to USDT because it seems to be more safer and believe me when I say, it have safe me count times from the heavy crashes of the market.

[libert19]

Many still like Tether no matter issues are being thrown on it. With the volume that it has, that only tells one thing and that means that it's being trusted by many. Or not being trusted but because of the volume, they choose to use it instead of any other stable coins.

Usdc, don't ask for reasons, I just do.

This is the other one that I use these days. I don't know why as well but maybe there's a magnet on it that makes me use it because I have always seen it being said by people.

For someone like me, I have always preferred USDT. I guess it's because this was a common cryptocurrency for payment a couple of years back. And it was my favorite not knowing the things that are possible with it. I have heard that they can freeze your funds (I didn't really know this) and that is disturbing because I don't want anyone having such power over my money. Additionally, I heard that their assets aren't completely backed up, etc. Maybe the USDC is indeed a better choice.

They indeed freeze assets, but it shouldn't be worry for normal users, even USDC freezes assets, so this is something that is similar to all centralized stable coins. Tether publishes transparency report [1] daily, so I'm unsure why they have suspicious status in category of stable coins. I'm gonna seek clarification from forum users.


[1] https://tether.to/en/transparency/#usdt

[Wahyuihib]

i don't understand why usdt is considered a scam coin.  Isn't the value of this coin the same as the value of USD in the global market, so it's only natural that this coin experiences ups and downs along with the value of USD itself?

[Zigabel]

After Bitcoin I see USDT as the next coin I trust well enough asides Fiat. Nothing is 100% guarantee and even investing in Bitcoin aswell doesn't give you that guarantee so I'd you can get a 70-90% guarantee in a coin then why not and I think that's all for me because definitely non is risk free.

[CRAIC]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

I don't tust USDT beacuse it's too centralised

[fzkto]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

I don't tust USDT beacuse it's too centralised

A lot of cryptocurrencies are not centralised. You'd be surprised, but ethereum also has censorship and some validators may not allow some transactions on the network. Therefore, Tether is not much different from the regular erc 20 token. By the way if you use Tether, there are still no intermediaries in the transaction, like if it was a bank.

[Dr.Osh]

After Bitcoin I see USDT as the next coin I trust well enough asides Fiat. Nothing is 100% guarantee and even investing in Bitcoin aswell doesn't give you that guarantee so I'd you can get a 70-90% guarantee in a coin then why not and I think that's all for me because definitely non is risk free.

Well, even if you believe in USDT, maybe I just give a suggestion that if you want to save the money you have in a stable form, choosing Fiat, or keeping it in the bank is the best decision. Personally, I also have confidence in USDT, but I don't have much confidence in holding it for the long term. I might only hold assets in USDT when prices are down and want to secure the assets I have temporarily before buying other coins to hold. However, to date, the stable coin I use most often is USDT, but I have never held it for a long period of time.

[cryptoknightt]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

I believe that even though there will be news saying that tether is not backed up, tether is backed up by terrorists and the mafia and other bad news, the fact is that people still use tether and it is recognized as the stable coin with the largest volume in the crypto market.
but for liquidity I think USDC is still more trusted.

[Nazmul012]

Usdt suppose to be trustworthy even for me also cause it keep proving its ability since years. Thus they gained our trust and still top three volume gained coin by rank as people prefer usdt trading in all of exchanges. That's why i also mainly use usdt when need among others stablecoins. I don’t think anyone should be worried about freezing or lost capital. but i don't have any problem if anyone choice dai, tusd or usdc over usdt

[oktana]

Many still like Tether no matter issues are being thrown on it. With the volume that it has, that only tells one thing and that means that it's being trusted by many. Or not being trusted but because of the volume, they choose to use it instead of any other stable coins.

Usdc, don't ask for reasons, I just do.

This is the other one that I use these days. I don't know why as well but maybe there's a magnet on it that makes me use it because I have always seen it being said by people.

For someone like me, I have always preferred USDT. I guess it's because this was a common cryptocurrency for payment a couple of years back. And it was my favorite not knowing the things that are possible with it. I have heard that they can freeze your funds (I didn't really know this) and that is disturbing because I don't want anyone having such power over my money. Additionally, I heard that their assets aren't completely backed up, etc. Maybe the USDC is indeed a better choice.

They indeed freeze assets, but it shouldn't be worry for normal users, even USDC freezes assets, so this is something that is similar to all centralized stable coins. Tether publishes transparency report [1] daily, so I'm unsure why they have suspicious status in category of stable coins. I'm gonna seek clarification from forum users.


[1] https://tether.to/en/transparency/#usdt

Great I would appreciate and would humbly learn too. If they freeze assets, how do you mean it shouldn’t be a worry for normal users? How are you defining normal users? I’m a normal user and for the times I’ve used USDT, I have never had any challenges, but then I worry for the fact that someone somewhere has the ability to freeze my USDT. I mean, isn’t this exactly what the traditional banking system does? Considering that it’s the same case with USDC, I may prefer to stick to USDT. However, maybe Bitcoin is really the best after all.

[libert19]

They indeed freeze assets, but it shouldn't be worry for normal users, even USDC freezes assets, so this is something that is similar to all centralized stable coins. Tether publishes transparency report [1] daily, so I'm unsure why they have suspicious status in category of stable coins. I'm gonna seek clarification from forum users.


[1] https://tether.to/en/transparency/#usdt

Great I would appreciate and would humbly learn too. If they freeze assets, how do you mean it shouldn’t be a worry for normal users? How are you defining normal users? I’m a normal user and for the times I’ve used USDT, I have never had any challenges, but then I worry for the fact that someone somewhere has the ability to freeze my USDT. I mean, isn’t this exactly what the traditional banking system does? Considering that it’s the same case with USDC, I may prefer to stick to USDT. However, maybe Bitcoin is really the best after all.

As long as your funds aren't coming from shady sources, I would call you a normal user  

Yea, it's similar to traditional banking but there are some pros here like you can exchange easily to or from usdt/usdc without kyc (on instant exchanges/dexes — if cexes require kyc), and also no worry even if you convert huge amounts unlike in banks where if it were $10k you'd be asked whereabouts it came, why are you withdrawing, etc

[Xampeuu]

Usdt suppose to be trustworthy even for me also cause it keep proving its ability since years. Thus they gained our trust and still top three volume gained coin by rank as people prefer usdt trading in all of exchanges. That's why i also mainly use usdt when need among others stablecoins. I don’t think anyone should be worried about freezing or lost capital. but i don't have any problem if anyone choice dai, tusd or usdc over usdt

Even though there are many views about USDT, for me USDT is still worth using. I only use it temporarily as a backup before making an investment. Stable coins provide several advantages, especially for storing funds while waiting for the price to enter the buy area. That's why I've been using USDT from the start until now, and USDT hasn't been separated from the CoinMarketcap board, so I think it's still safe.

[soramon]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

My personal view is that there are 2 stable coins that are the most credible and I personally use both, namely Tether (USDT) and USDC, especially USDT. For example, I want to deposit to an exchange using P2P, I do it with Tether USDT, what else is Tether top 3 coinmarketcap based on Coingecko and CoinMarketCap from I used to use Tether, it's still safe, it depends on which stable coin you want to use, but do your own research

[Bitcoin_people]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

My personal view is that there are 2 stable coins that are the most credible and I personally use both, namely Tether (USDT) and USDC, especially USDT. For example, I want to deposit to an exchange using P2P, I do it with Tether USDT, what else is Tether top 3 coinmarketcap based on Coingecko and CoinMarketCap from I used to use Tether, it's still safe, it depends on which stable coin you want to use, but do your own research

I think USDT is a stable currency and trustworthy. I trade using this USDT most of the time, and also use USDT in p2p transactions. Yes what you said is correct I think these two are the most used and trusted among stablecoins.

[oktana]

They indeed freeze assets, but it shouldn't be worry for normal users, even USDC freezes assets, so this is something that is similar to all centralized stable coins. Tether publishes transparency report [1] daily, so I'm unsure why they have suspicious status in category of stable coins. I'm gonna seek clarification from forum users.


[1] https://tether.to/en/transparency/#usdt

Great I would appreciate and would humbly learn too. If they freeze assets, how do you mean it shouldn’t be a worry for normal users? How are you defining normal users? I’m a normal user and for the times I’ve used USDT, I have never had any challenges, but then I worry for the fact that someone somewhere has the ability to freeze my USDT. I mean, isn’t this exactly what the traditional banking system does? Considering that it’s the same case with USDC, I may prefer to stick to USDT. However, maybe Bitcoin is really the best after all.

As long as your funds aren't coming from shady sources, I would call you a normal user  

Yea, it's similar to traditional banking but there are some pros here like you can exchange easily to or from usdt/usdc without kyc (on instant exchanges/dexes — if cexes require kyc), and also no worry even if you convert huge amounts unlike in banks where if it were $10k you'd be asked whereabouts it came, why are you withdrawing, etc

Apparently people who use Bitcoin are not necessarily into something shady. Right? But then, we rather use Bitcoin instead of the bank because we have complete control over our money and no one can have any power over it. People expect nothing less from USDT. Yes, we may not be affected since we aren’t doing anything shady. However, the feeling of knowing that nobody can do anything to your money is priceless. So, we may not encounter any issue, but one needs to know that they completely have control and no one can do otherwise.

[nimogsm]

I trust usdt completely. Over time, this has become a standard in the industry and I think many will agree with this. Yes, if you dig deeper in search of information about real reserves, questions may arise since there is no complete transparency and information. But even this factor does not stop users from keeping their funds in this particular asset.

[Rasa nanas]

until the accusation is proven I will continue to believe and will continue to use Tether. tether is the stablecoin I use most often because the exchange rate available to exchange altcoins that I get from airdrops or bounties is USDT, apart from that I deliberately chose USDT because USDT is the most popular stable coin at the moment. I am sure that issues like this will not affect USDT because people's trust in USDT is already very large.

[JeffBrad12]

I trust usdt completely. Over time, this has become a standard in the industry and I think many will agree with this. Yes, if you dig deeper in search of information about real reserves, questions may arise since there is no complete transparency and information. But even this factor does not stop users from keeping their funds in this particular asset.

fairly speaking they does disclose their reserve as well as getting it audited, I think they are transparent enough in this regard.

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

My personal view is that there are 2 stable coins that are the most credible and I personally use both, namely Tether (USDT) and USDC, especially USDT. For example, I want to deposit to an exchange using P2P, I do it with Tether USDT, what else is Tether top 3 coinmarketcap based on Coingecko and CoinMarketCap from I used to use Tether, it's still safe, it depends on which stable coin you want to use, but do your own research

usually using stablecoin is gonna be fine so long you're not holding it for too long like basically for years where it might arise implication along the way, if its for long term i'd never recommend stablecoin, for the simple reason that even TUSD was never expected to go down and went bankrupt but it went bankrupt anyway, no one know for sure the state of these stablecoin therefore we should know that holding stablecoin for too long might instead cause us to lose our money.

[Abiky]

As long as your funds aren't coming from shady sources, I would call you a normal user  

Yea, it's similar to traditional banking but there are some pros here like you can exchange easily to or from usdt/usdc without kyc (on instant exchanges/dexes — if cexes require kyc), and also no worry even if you convert huge amounts unlike in banks where if it were $10k you'd be asked whereabouts it came, why are you withdrawing, etc

Indeed. Tether has only been blacklisting address belonging to criminals. I haven't seen or heard of a case where an average person gets his/her USDT funds frozen for an unknown reason. I know PayPal will do it with his stablecoin (PYUSD), especially when the company uses to freeze or restrict customers' PayPal accounts at will. Stablecoins like USDT and USDC are a much safer bet. If you want to avoid KYC, buy/sell USDT through a DEX. As simple as that.

I wouldn't be surprised if someday the US government requires stablecoin issuers to comply with KYC at the protocol level. That would mean altering the smart contract code that would require users to verify their ID before getting access to it. If this happens, then Tether and other centralized stablecoins will lose ground big time. I'd prefer a decentralized stablecoin anytime because of the benefits it provides. If only DAI had bigger liquidity and an ecosystem as large as USDT's, the majority would've moved to it already. At least we have a choice. Who knows how long will Tether last?

[libert19]

As long as your funds aren't coming from shady sources, I would call you a normal user  

Yea, it's similar to traditional banking but there are some pros here like you can exchange easily to or from usdt/usdc without kyc (on instant exchanges/dexes — if cexes require kyc), and also no worry even if you convert huge amounts unlike in banks where if it were $10k you'd be asked whereabouts it came, why are you withdrawing, etc

Indeed. Tether has only been blacklisting address belonging to criminals. I haven't seen or heard of a case where an average person gets his/her USDT funds frozen for an unknown reason. I know PayPal will do it with his stablecoin (PYUSD), especially when the company uses to freeze or restrict customers' PayPal accounts at will. Stablecoins like USDT and USDC are a much safer bet. If you want to avoid KYC, buy/sell USDT through a DEX. As simple as that.

I wouldn't be surprised if someday the US government requires stablecoin issuers to comply with KYC at the protocol level. That would mean altering the smart contract code that would require users to verify their ID before getting access to it. If this happens, then Tether and other centralized stablecoins will lose ground big time. I'd prefer a decentralized stablecoin anytime because of the benefits it provides. If only DAI had bigger liquidity and an ecosystem as large as USDT's, the majority would've moved to it already. At least we have a choice. Who knows how long will Tether last?

Pretty sure if something like kyc happens to USDT, most exchanges are gonna move to DAI, I have also lots of faith in it because they have done their home work well [1].

Assuming the worst case scenario and already having preparation for it? I'm sold.

Physically Resilient: The Endgame Plan assumes that at a point in the future, there will be a severe crackdown on use of RWA in crypto. Anything that can be seized by global powers may be at risk of seizure through legal means. Physically Resilient RWA are real-world assets that cannot easily be seized. A DAO like Maker can retain some level of technical sovereignty over such assets.

[1] https://endgame.makerdao.com/concepts/collateral-breakdown

[huu78]

I think that when it comes to trust, everything is still confusing, if it really wasn't USDT, why would the volume of USDT continue to increase every year, and the amount of USDT supply continues to increase, some rumors say that USDT has no real dollar backup, and other opinions say the opposite.
I personally use USDT as a stable coin when trading, remember when Busd was considered good and safe, now BusD will be delisted next February.

[SeriouslyGiveaway]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

It's undeniable that there have been suspicions surrounding Tether for years. People doubt whether Tether's reserve of USD is sufficient to back the amount of USDT they have issued. However, it's crucial to note that Tether is currently the largest stablecoin by market capitalization.
If something were to happen to Tether, I believe the market would plunge into a prolonged crisis, and if there were any issues with Tether, I think they would have surfaced long ago. The recent reports about their reserve and the profits they've generated also provide some reassurance.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

In terms of trustworthiness, I rate USDC higher than USDT because Circle, a significant player on Wall Street, backs USDC. I believe that in the next cycle, USDC will grow stronger than it is now and capture more market share from USDT.

[DaNNy001]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

My personal view is that there are 2 stable coins that are the most credible and I personally use both, namely Tether (USDT) and USDC, especially USDT. For example, I want to deposit to an exchange using P2P, I do it with Tether USDT, what else is Tether top 3 coinmarketcap based on Coingecko and CoinMarketCap from I used to use Tether, it's still safe, it depends on which stable coin you want to use, but do your own research

I think USDT is a stable currency and trustworthy. I trade using this USDT most of the time, and also use USDT in p2p transactions. Yes what you said is correct I think these two are the most used and trusted among stablecoins.

Trust me, USDT is a stable coin that has much reputation and value in my country here as it's used for almost everything and when I do gamble on online casino, USDT is the preferable coins as it much stable than Bitcoin and other altcoins in the market. USDT is a coin that have gain popularity because of the big advantage it always get over my local currency as most person also see it as a nice investment coins to get some extra profits as the usdt always beat our currency as a fast rate due to devaluation of ours.

[Sophokles]

By looking at the USDT market cap, one thing came to mind: what will happen if this thing crashes like UST? This might never happen, but a single stablecoin that is dominating the market can be bad for the overall industry if there is anything bad related to the project. This can be anything like regulatory pressure or dishonesty on the part of the team. Another thing that caught my eye is the rise of USDT marketcap and fall of USDC market cap. They are behaving quite oppositely, so anyone can explain what is happening with them?

[Bushdark]

By looking at the USDT market cap, one thing came to mind: what will happen if this thing crashes like UST? This might never happen, but a single stablecoin that is dominating the market can be bad for the overall industry if there is anything bad related to the project. This can be anything like regulatory pressure or dishonesty on the part of the team. Another thing that caught my eye is the rise of USDT marketcap and fall of USDC market cap. They are behaving quite oppositely, so anyone can explain what is happening with them?

Since Tether USD is one of the strong stable coins in the market with good strategy and impressive effort to keep the project stable for as long as possible. We also need to invest wisely just like we have seen with many cryptocurrency projects that had crashed due to bad maintenance and poor management team tending for them. USDT is a good project also we need to check out other strong projects too so that we can be safer than confidently investing in just one stable coin alone.

[Romeotom]

I didn’t seen any reason for untrust usdt because if we are investors then we can use usdt for buy new or old token. Just enough thinking for little investors but if you are a milliner then you can thinking of trust history. I believe usdt good strategy and impressive quality project in the crypto market.

[God bless u]

By looking at the USDT market cap, one thing came to mind: what will happen if this thing crashes like UST? This might never happen, but a single stablecoin that is dominating the market can be bad for the overall industry if there is anything bad related to the project. This can be anything like regulatory pressure or dishonesty on the part of the team. Another thing that caught my eye is the rise of USDT marketcap and fall of USDC market cap. They are behaving quite oppositely, so anyone can explain what is happening with them?

Since Tether USD is one of the strong stable coins in the market with good strategy and impressive effort to keep the project stable for as long as possible. We also need to invest wisely just like we have seen with many cryptocurrency projects that had crashed due to bad maintenance and poor management team tending for them. USDT is a good project also we need to check out other strong projects too so that we can be safer than confidently investing in just one stable coin alone.

Relying on one stable coin is not good idea If it is for holding purpose..Usdc, Dai are some other stable coins which are available in many exchanges.. If we diversified our stable coin portfolio in all these three coin then it will minimize our risk. Amongst all stable coins USDT has high market cap..If we check exchanges then one thing is clear that most of pair is available only in USDT which show the strength of this stable coin.

However Any stable coin can face security issue just like BUSD .. This is the reason I believe that relying on only usdt is bad choice and we cannot mark usdt fully secured stable coin.

[Samurai trieng]

Of course, I really believe in USDT because its popularity is very high. Apart from that, Tether is a very stable coin, therefore this coin is the best solution when the crypto market experiences inflation like several years ago.

[Sophokles]

By looking at the USDT market cap, one thing came to mind: what will happen if this thing crashes like UST? This might never happen, but a single stablecoin that is dominating the market can be bad for the overall industry if there is anything bad related to the project. This can be anything like regulatory pressure or dishonesty on the part of the team. Another thing that caught my eye is the rise of USDT marketcap and fall of USDC market cap. They are behaving quite oppositely, so anyone can explain what is happening with them?

Since Tether USD is one of the strong stable coins in the market with good strategy and impressive effort to keep the project stable for as long as possible. We also need to invest wisely just like we have seen with many cryptocurrency projects that had crashed due to bad maintenance and poor management team tending for them. USDT is a good project also we need to check out other strong projects too so that we can be safer than confidently investing in just one stable coin alone.

Relying on one stable coin is not good idea If it is for holding purpose..Usdc, Dai are some other stable coins which are available in many exchanges.. If we diversified our stable coin portfolio in all these three coin then it will minimize our risk. Amongst all stable coins USDT has high market cap..If we check exchanges then one thing is clear that most of pair is available only in USDT which show the strength of this stable coin.

However Any stable coin can face security issue just like BUSD .. This is the reason I believe that relying on only usdt is bad choice and we cannot mark usdt fully secured stable coin.

You can do that to keep your balance safe but i was talking about the altcoin industry here. Most of the projects that is listed in a centralized exchange have a USDT pair. USDT is heavily used pair not only for altcoin but also for bitcoin. So if something bad happens with USDT then this will be a massive blow to the whole altcoin market. All the altcoin will heavily crash as all the pair are mostly in USDT and due to the liquidity shortage these projects will have that time.

[God bless u]

You can do that to keep your balance safe but i was talking about the altcoin industry here. Most of the projects that is listed in a centralized exchange have a USDT pair. USDT is heavily used pair not only for altcoin but also for bitcoin. So if something bad happens with USDT then this will be a massive blow to the whole altcoin market. All the altcoin will heavily crash as all the pair are mostly in USDT and due to the liquidity shortage these projects will have that time.

Temporary dump is possible if usdt crashed or anything bad happens. I agree that most of the exchanges have only usdt pair for certain altcoins and will be affected with usdt. Top exchanges already knows about this and most exchange have now alternative option for this problem. Binance already have FDUSD, other exchange also have other stable coin. Just like BUSD I think there will be no big problem of liquidity but time will show what really happen that time.

[Freddie Boyer]

I don't tust USDT beacuse it's too centralised

If Tether (USDT) is considered the pioneer stablecoin and as long as it's SEC-free and legit, I'm still sticking with it. Yes. Stablecoins play an important role in protecting wealth from market fluctuations, and Tether allows easy liquidation if it wants to lose its peg to the USD.

[arufox]

USDT is indeed a stablecoin designed to maintain the US dollar peg. However, there are several concerns that arise in my mind regarding USDT, including, because USDT lacks transparency regarding its reserves. Apart from that, there are also concerns that USDT might be used to manipulate the cryptocurrency market. However, my concerns are based on accusations and controversies surrounding USDT circulating in various news, although this does not mean that all my concerns are valid or that USDT has fundamental weaknesses. However, a lack of transparency and regulatory oversight has contributed to doubts and questions surrounding USDT operations.

[nimogsm]

USDT is indeed a stablecoin designed to maintain the US dollar peg. However, there are several concerns that arise in my mind regarding USDT, including, because USDT lacks transparency regarding its reserves. Apart from that, there are also concerns that USDT might be used to manipulate the cryptocurrency market. However, my concerns are based on accusations and controversies surrounding USDT circulating in various news, although this does not mean that all my concerns are valid or that USDT has fundamental weaknesses. However, a lack of transparency and regulatory oversight has contributed to doubts and questions surrounding USDT operations.

I have similar concerns, I agree with your opinion. But I like the fact that for so many years of its operation there have been no major problems that could greatly affect the state of the market. And many will continue to use it every day, which is probably its main advantage.

[leonair]

I didn’t seen any reason for untrust usdt because if we are investors then we can use usdt for buy new or old token. Just enough thinking for little investors but if you are a milliner then you can thinking of trust history. I believe usdt good strategy and impressive quality project in the crypto market.

Yes usdt has been in a good position in the market for a long time with a very high marketcap. So there is nothing to disbelieve it. all investors trust it a lot and use it for trading and  use it to stable there money on cryptocurrency. So of course it's a trusty peg. But since investing in crypto coins is risky because sometimes crypto coins crash and stable coins like ust are not excluded. So due to this one should not keep very high amount of money here

[Abiky]

USDT is indeed a stablecoin designed to maintain the US dollar peg. However, there are several concerns that arise in my mind regarding USDT, including, because USDT lacks transparency regarding its reserves. Apart from that, there are also concerns that USDT might be used to manipulate the cryptocurrency market. However, my concerns are based on accusations and controversies surrounding USDT circulating in various news, although this does not mean that all my concerns are valid or that USDT has fundamental weaknesses. However, a lack of transparency and regulatory oversight has contributed to doubts and questions surrounding USDT operations.

Tether's unwillingness to provide proof of USD reserves, should be a huge red flag for anyone considering investing into it for the long haul. We should seek alternatives that are regulatory-compliant for complete peace of mind. I believe USD Coin and Paxos USD are much safer options. USDT may be the biggest stablecoin on the market, but that doesn't mean it's "safe". It may've reached that position due to market manipulation by the issuing company. Constant "printing" of new USDT, tells us exactly that.

The crypto market often behaves in many strange and bizarre ways, so it's best to diversify just in case. I can see how negatively the market will react after a USDT collapse. Who knows how much time there is left before this happens? Just my thoughts

[fzkto]

USDT is indeed a stablecoin designed to maintain the US dollar peg. However, there are several concerns that arise in my mind regarding USDT, including, because USDT lacks transparency regarding its reserves. Apart from that, there are also concerns that USDT might be used to manipulate the cryptocurrency market. However, my concerns are based on accusations and controversies surrounding USDT circulating in various news, although this does not mean that all my concerns are valid or that USDT has fundamental weaknesses. However, a lack of transparency and regulatory oversight has contributed to doubts and questions surrounding USDT operations.

Tether's unwillingness to provide proof of USD reserves, should be a huge red flag for anyone considering investing into it for the long haul. We should seek alternatives that are regulatory-compliant for complete peace of mind. I believe USD Coin and Paxos USD are much safer options. USDT may be the biggest stablecoin on the market, but that doesn't mean it's "safe". It may've reached that position due to market manipulation by the issuing company. Constant "printing" of new USDT, tells us exactly that.

The crypto market often behaves in many strange and bizarre ways, so it's best to diversify just in case. I can see how negatively the market will react after a USDT collapse. Who knows how much time there is left before this happens? Just my thoughts

The market is only going up because of Tether printing usdt. I don't know what could happen to the whole industry if something happens to Tether. It seems to me that no alternatives will be able to help. Trust in any stablecoins will be lost forever. So I guess there is no big difference in trust in different projects.

[Mate2237]

I didn’t seen any reason for untrust usdt because if we are investors then we can use usdt for buy new or old token. Just enough thinking for little investors but if you are a milliner then you can thinking of trust history. I believe usdt good strategy and impressive quality project in the crypto market.

When I checked trading view just, I saw that USDT is the second to Bitcoin in price and it is very close to Bitcoin and the only different I can figure out from these two is volatile of Bitcoin and USDT is a stable coin. And people use USDT in Binance more Bitcoin because it stable nature. I have seen a lot of my friends and relatives are using USDT for transaction and storing. They even buy it and keep it in their exchange wallet.

Many trust USDT tether because it is easy for them to calculate it with dollar.

[Rasa nanas]

Of course, I really believe in USDT because its popularity is very high. Apart from that, Tether is a very stable coin, therefore this coin is the best solution when the crypto market experiences inflation like several years ago.

I agree, since I first got to know crypto I have used USDT and in using USDT until now I have never encountered any irregularities. and the reality is that currently USDT is the largest stable coin and has the most stable value. I think there is no reason not to believe in USDT 

[Abiky]

The market is only going up because of Tether printing usdt. I don't know what could happen to the whole industry if something happens to Tether. It seems to me that no alternatives will be able to help. Trust in any stablecoins will be lost forever. So I guess there is no big difference in trust in different projects.

Talk about manipulation. And yet, we've thought central banks were the only ones doing this. You can't expect anything good from a coin that's pegged to the value of a centralized currency (Fiat). That's why Bitcoin was created independently from the existing monetary system. Would you imagine the USD crashing real hard in the future? It would certainly drive Tether's market price to $0. Or Tether itself could lose its peg for unknown reasons.

If USDT dies, expect the "bloodbath" to last for quite some time. This would be good for buyers, but bad for holders. The crypto market often behaves in many strange and bizarre ways, so I'd proceed with caution just to be safe.

[mich]

Well I am wondering why this is going to happen. The country of Russia now will use it for cross boarder payments.

The payment platform is called Exved also does support the ruble and US dollars. And it will allow Russian businesses to do international transactions using tether.   

https://www.cryptotimes.io/russia-integrates-tether-for-cross-border-payments/

[Rimueng]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

For now usdt, because it is the most commonly used, recognized by many people, and has a stable exchange rate. And, usd also backed by usd, this making it even safer for transactions in the crypto world.

[mich]

Tether has now frozen 41 wallets that is tied to sanctions. It is a effort to strengthen its security measures.
The wallets are people on the list of Office of Foreign Assets Control. I think this is a good thing for Tether to so letting people know they can not do illegal things with the stablecoin.
https://markets.businessinsider.com/news/currencies/tether-freezes-41-crypto-wallets-tied-to-sanctions-1032887403

[God bless u]

Tether has now frozen 41 wallets that is tied to sanctions. It is a effort to strengthen its security measures.
The wallets are people on the list of Office of Foreign Assets Control. I think this is a good thing for Tether to so letting people know they can not do illegal things with the stablecoin.
https://markets.businessinsider.com/news/currencies/tether-freezes-41-crypto-wallets-tied-to-sanctions-1032887403

This action is looking apparently best for Tether security but it also gives a sign of danger that Usdt is working under USA control and USA can use it for own purpose in the war. If usdt team can frozen any wallet then most of countries who has not good relationship with USA will not use it because USA will order to freeze usdt in specific country wallets and will label it for illegal activity or terrorism. Stable coins should have to be totally decentralized without any control of any country.

[strunberg]

I think that's what they have to do whether they like it or not. USDT is based on the dollar and they also do a lot of business in America. Of course this will make America try to take advantage of it. By making USDT under their control they will secure a place in the future if cryptocurrency technology is truly realized throughout the world. The United States will do anything to gain its personal advantage.

[andyou1234]

Yes, of course I believe in USDT teter because its value is the same as the American dollar, and currently many Americans are using USDT as a business field, but what I worry about is that America will misuse USDT's popularity. so that USDT will later be isolated, which can affect its price stability in the crypto market,

[Abiky]

Tether has now frozen 41 wallets that is tied to sanctions. It is a effort to strengthen its security measures.
The wallets are people on the list of Office of Foreign Assets Control. I think this is a good thing for Tether to so letting people know they can not do illegal things with the stablecoin.
https://markets.businessinsider.com/news/currencies/tether-freezes-41-crypto-wallets-tied-to-sanctions-1032887403

Tether's measures are good for tackling criminal activities on the Blockchain. But what if it decides to target individuals' stablecoin holdings at the request of the US government? Then it would make Tether no different than traditional banks. You can never trust a centralized coin subject to manipulation and corruption. For complete peace of mind, convert your crypto to a decentralized stablecoin such as DAI or USDJ.

Who needs a coin tied to existing Fiat currencies anyways? Isn't the whole point of crypto self-sovereignity and financial freedom? By using a stablecoin like Tether, you become a "slave" of the banking system. I'd prefer to use a truly-decentralized cryptocurrency like Bitcoin, even though its price fluctuates in Fiat terms (volatility). You'd need to choose between freedom or slavery. With Fiat currencies on the brink of collapse, Tether and similar stablecoins have their days numbered. Who knows if they're eventually replaced by CBDCs? Just my thoughts

[Belarge]

Yes, of course I believe in USDT teter because its value is the same as the American dollar, and currently many Americans are using USDT as a business field, but what I worry about is that America will misuse USDT's popularity. so that USDT will later be isolated, which can affect its price stability in the crypto market,

Who doesn't know about the popular Tether USDT stablecoin in the market? Except for the newbies who also keen on knowing stablecoins first before exploring any other options of advancing to next building phase. The popularity of the market depends on the tokens more especially the pumping ones mostly referred to as memecoins and they've changed the life's of investors. USDT is a stable coin right from time and have been for decades, I see no need for the stable coin to fluctuate in value, afterall numerous crypto exchanges have place stability on the token worldwide.

[mich]

Well yes I do trust still usdt for my favorite stablecoin. It has biggest marketcap and Tether also does own alot of Bitcoins.
They have 66,465 Bitcoin that is worth about $2.8 Billion. And they will use its profits to buy even more Bitcoins.
https://cryptorank.io/news/feed/17e91-tether-now-holds-2-8-billion-worth-of-bitcoin

[arjunmujay]

Well yes I do trust still usdt for my favorite stablecoin. It has biggest marketcap and Tether also does own alot of Bitcoins.
They have 66,465 Bitcoin that is worth about $2.8 Billion. And they will use its profits to buy even more Bitcoins.
https://cryptorank.io/news/feed/17e91-tether-now-holds-2-8-billion-worth-of-bitcoin

true and now even crypto investors prefer tether for their transactions. not using Fiat USD anymore. and if you look at the exchange rate, it is also balanced with fiat. so yes, it must be trusted if this tether becomes a stable coin in the cryptocurrency world.
That's also why so many people hold tether and make it the mainstream in investing or trading in the market.

[GreenStox]

Yes, I believe in USDT, even though there are so many rumors that say USDT doesn't have a real dollar backup and say USDT is controlled by terrorists and the like, but because the stable coin is the earliest and most widely used, USDT still exists today.

[MIner1448]

Well, if we take into account all the stemcoins, then I trust USDT the most, I don’t know why, but most likely this is some kind of psychological aspect, probably because this is my first stemcoin in my wallet. But although I understand that it may also not be stable like all stemcoins.

[Samlucky O]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

Though I am not a crypto expert or haven't been long in crypto currency, but I have strong believe that usdt is a reliable stable coin. USDT has come a long way to disappoint people in future. There is nothing that has advantage and also don't have a disadvantages. There is no coin that doesn't have there lapses but putting it out to USDT makes it looks like it's only USDT is the bad one here. If usdt was not so trusted then why has it been the most used stable coin for transaction across the globe. And used as a medium of binance P2P currency for exchange. I see all those things as a speculation and nothing more.

[xeqoRameshAxueamExaqana]

USDT is currently the most trusted stable coin. after BUSD was hit by a case with the government and legality in the USA. because those who make BUSD companies in America. so once hit, it's finished.
crypto companies should not need to be established in the USA because America is always in trouble. xrp example from the start of the establishment until now there is no resolution of the problem with the financial authorities in the USA

[God bless u]

Yes, I believe in USDT, even though there are so many rumors that say USDT doesn't have a real dollar backup and say USDT is controlled by terrorists and the like, but because the stable coin is the earliest and most widely used, USDT still exists today.

The main reason why no coin in crypto can be called stable is that in front of our eyes there was a USTC coin that rose to the ground in seconds and people are so scared of it. Because a lot of people had lost, but no exchange took responsibility for it, because the exchange is often hacked, then no one takes responsibility because crypto is something that people keep trying to hack it, but the more people use it.
It's better to use safe wallet for any currency in crypto

[Bureau]

USDT is currently the most trusted stable coin. after BUSD was hit by a case with the government and legality in the USA. because those who make BUSD companies in America. so once hit, it's finished.
crypto companies should not need to be established in the USA because America is always in trouble. xrp example from the start of the establishment until now there is no resolution of the problem with the financial authorities in the USA

I still do not understand why it is still one of the most trusted, stablecoins. When it is known to have been the first cryptocurrency that can be frozen and is fully centralized. It is a copy of the USD against which cryptocurrencies were created, but it is still one of the most sought-after coins. If you check its market cap then it is ranked third on the ranking table after Ethereum. Its purpose was to provide stability to traders in a volatile market whereas now it is being used for everything.

[Y3shot]

Yes, I believe in USDT, even though there are so many rumors that say USDT doesn't have a real dollar backup and say USDT is controlled by terrorists and the like, but because the stable coin is the earliest and most widely used, USDT still exists today.

And the interesting is that the usdt is the most used stable coin,  all through I have been dealing with the stable coins, I have  always go for the usdt because I think it is a well known and most used stable coin,  that makes me to have more interest for it than any other stablecoin. Usdt being the largest capitalization in the market will be consider to be used by investors and traders than other stablecoin.

[MFahad]

Tether is Good as long as you don't use it for anything wrong. A lot of people might not know that. but Tether can freeze USDT in any wallet they want. that is a kind of thing I don't like.  but so far it was only used to stop hackers, and it actually helped a lot of times. a lot of hacked funds were frozen by tether like that.

Well I am wondering why this is going to happen. The country of Russia now will use it for cross boarder payments.

The payment platform is called Exved also does support the ruble and US dollars. And it will allow Russian businesses to do international transactions using tether.   

https://www.cryptotimes.io/russia-integrates-tether-for-cross-border-payments/

So what is wrong in this? If United states and whole world bycott russia frome verywhere then russia had to take a step like that to protetc it's economy and businesss. I am not a supporter of everything Russia doing with Ukraine, But they had to go somewhere to solve their proble so they chose to solve that like this.
I think it is a good move for USDT and Cryptocurrency in generally. it'll grow mass adoption of Cryptocurrency by a lot.

[JayTrain]

There are indeed many questions regarding this stablecoin, with the primary concern being the issuance of new coins in massive quantities, especially concerning their backing. I am not confident that all USDT stablecoins are backed by actual dollars, which raises certain doubts. However, on the other hand, USDT has been on the market for a long time, and I don't see many alternatives. Essentially, all cryptocurrencies come with risks. We can discuss what's good and what's bad, but many people still use this stablecoin.

[Ben Barubal]

    In the day trading I do now, I always use the usdt pair from Bitcoin and even other potential altcoins on the exchange platforms where I do trading activity. Even in the transfer of crypto usdt to our currency this is also used.

   So it means that this is a huge contribution and help to me to be honest, it also means that most of the communities here usdt reaches the majority of crypto enthusiasts to help them not only in profit but also in transactions.

[Abiky]

Yes, I believe in USDT, even though there are so many rumors that say USDT doesn't have a real dollar backup and say USDT is controlled by terrorists and the like, but because the stable coin is the earliest and most widely used, USDT still exists today.

The thing is Tether is working with US law enforcement agencies (FBI, DOJ) to deter criminal activity. It's a good sign that the stablecoin won't be going anywhere soon. The more Tether works with regulators, the better. What troubles me is Tether's malpractice of printing more USDT like there's no tomorrow. If it's able to back the stablecoin with real USD reserves, there should be nothing to worry about.

Be aware that a USDT collapse would be completely disastrous for the crypto market. After all, lots of cryptocurrencies are tied to USDT's liquidity. The downfall will be severe, albeit temporary as the market will recover at a slow and steady pace. We can't predict the future, so lets hope for the best.

[ItsCrafty]

About Tether USDTRC20 I heard from many people whether it is trusted or not so according to me it is trusted project and it is very beneficial many people are doing it very well. It gives benefits to save your fund, to keep your fund stable and also to transfer from one place to another, it works very easily and very well and at a very low fee, so according to me, it is an excellent project. The rest is if anyone has any doubts, then  keeping your fund another stablecoin

[electronicash]

Yes, I believe in USDT, even though there are so many rumors that say USDT doesn't have a real dollar backup and say USDT is controlled by terrorists and the like, but because the stable coin is the earliest and most widely used, USDT still exists today.

The thing is Tether is working with US law enforcement agencies (FBI, DOJ) to deter criminal activity. It's a good sign that the stablecoin won't be going anywhere soon. The more Tether works with regulators, the better. What troubles me is Tether's malpractice of printing more USDT like there's no tomorrow. If it's able to back the stablecoin with real USD reserves, there should be nothing to worry about.

Be aware that a USDT collapse would be completely disastrous for the crypto market. After all, lots of cryptocurrencies are tied to USDT's liquidity. The downfall will be severe, albeit temporary as the market will recover at a slow and steady pace. We can't predict the future, so lets hope for the best.

and some say in the political scene that this USDT is going to extend the US hegemony for another 100 years if it continues. this is despite without backing.

but true also once the real fiat money USD will collapse because of the QE since it has been in the news many times when i listen to financial guys like Ray Dalio and Peter Schiff, they are looking at the possibility and only time can tell when.

[Makus]

It has always been advised that you don't put too much into stable coins, since they are pegged with traditional currency, inflation might hit one day. Beside stable coins are less volatile so why would someone invest in a coin that can even stay for a month without any increase or decrease in price. But USDT has not shown any characteristics of a scam project and it is doing well till today. What I admire of stable coins is there fast transaction rate. They can be used as intermediaries from your bank to the coin you intend investing on.

[EarnOnVictor]

Yes, of course I believe in USDT teter because its value is the same as the American dollar, and currently many Americans are using USDT as a business field, but what I worry about is that America will misuse USDT's popularity. so that USDT will later be isolated, which can affect its price stability in the crypto market,

We actually have our choices to make as far as cryptocurrency is concerned, nevertheless, we should be more thoughtful and not be so judgemental based on the recent happening, or else, it might cloud our reasoning. We should think deeper and be insightful about it to not only trust our coins but also safeguard our assets and interest in them from unforeseen by many things that could happen.

Fine, it is a pro that the USDT is not only pegged to the USD but also backed by the same, yet do not forget that manipulations can occur. As a matter of fact, they've manipulated this before, but I only hope that it doesn't be like that of the Terra case where their supposed stablecoin became worthless and people lost their money and have been unable to get it back till today. That is disappointing, and as we are not expecting our lovely Tether which happens to be the number stablecoin in the crypto world, we should at times be thinking towards that since nothing is impossible as far as cryptocurrency is concerned. Also, this is a centralised coin, your asset can be well monitored and controlled.

Now tell me again, do you still trust Tether that much?

[xeqoRameshAxueamExaqana]

USDT is currently a coin stable with no rivals at all. obviously I strongly believe.
then if you don't believe in USDT then what do you want to trade and cash out your coins using. because all pairs use USDT. except local exchangers. but when you get altcoin coins from airdrops or bounties, they are made into USDT or btc first and then can be disbursed to local exchangers.
but the local exchanger trading fee is large and the withdrawal fee is also equally large so it is less competitive if for trading.

[RewFrew]

Usdt is most popular stable coin i know. It's transaction is easier then other stable coin. And fee is very low so ustd is more popular right now. But it is not stable its price all time i also saw It's chart. And has no 100% backup solution. It iaso has huge Criticism for scam. So i think it has some lack of trust. I will better avoid hold USDT. We can only use it for pair to pair converte with another coin. But holding will be risky i think. It will be better for short time using it is my personal opinion.

[BD Technical]

USDT is actually everyone's favorite and it is popular in the crypto market, no matter how much it brings you, everyone trusts you, but even if this stable coin is above USDT, it is the last of all, but this USDT is still standing.  And besides, although there are many more strawbal coins, everyone trusts on this USD and besides, even though there are different types of tokens, everyone solves and changes here, I myself depend on UST and soft tokens, everyone depends on it.  So everyone would come to it but blind faith is not good and everything changes with time.

[Miles2006]

Usdt is actually good and a lot of people go for tether so no doubt seeing the coin as a good coin, what's actually discouraging me from buying tether is the lack of clarity and I can't just invest my money on a coin I know nothing about, traders get involve in tether a lot due to the stable price and avoiding loss at the same time. The coin has managed to gain a lot of trust over the year and despite the force surrounding usdt people still trust this coin so let's just say udst is not so bad.

[m2017]

Usdt is actually good and a lot of people go for tether so no doubt seeing the coin as a good coin,

Is your preference for Tether (USDT) based only on the opinion that it is a good coin (what research is this statement based on?) and on the fact that “many” choose USDT (mass popularity is not an indicator of trustworthiness)?

what's actually discouraging me from buying tether is the lack of clarity and I can't just invest my money on a coin

Why invest in a coin pegged to the dollar 1:1? Tether may cost less than a dollar, but it will certainly never cost (much) more than that same dollar. That is, the investment potential is about zero. USDT can be used as a short-term means of converting cryptocurrencies and fast (or cheap) transfers. Tether have the same disadvantages as traditional money - inflation, endless emission, and add to this the centralization and lack of security of these coins, which means no guarantee of the return of your funds in the event of a collapse.

I know nothing about, traders get involve in tether a lot due to the stable price and avoiding loss at the same time.

This is roughly what happens. USDT is a temporary means of converting cryptocurrencies in order to wait for the next purchase of crypto at a favorable price. This is good for their purposes, but certainly not for investment.

The coin has managed to gain a lot of trust over the year and despite the force surrounding usdt people still trust this coin so let's just say udst is not so bad.

Trust is an abstract concept, in contrast to the facts and arguments of the reliability of the project, which are more suitable arguments for the investor. It is on this faith that this coin rests. It should be undermined at least slightly and USDT will roll down.

[Belarge]

Usdt is actually good and a lot of people go for tether so no doubt seeing the coin as a good coin, what's actually discouraging me from buying tether is the lack of clarity and I can't just invest my money on a coin I know nothing about, traders get involve in tether a lot due to the stable price and avoiding loss at the same time. The coin has managed to gain a lot of trust over the year and despite the force surrounding usdt people still trust this coin so let's just say udst is not so bad.

Trust is very important, it gives birth to high hopes in the system, not ever going to depend on our compromising incompetent actions in the market. Traders exists in the market for good profits running into their portfolio and not for any reason, we're into the market and it's unknown to any of our colleagues that work with us, we use our medulla oblongata if we want to continue been call partners in the same area of business. Tether is a stablecoin and I've watch and study the coin, it's a broad path down and I won't give any listening ears to some that failed to follow my order when given.

[Bushdark]

Usdt is most popular stable coin i know. It's transaction is easier then other stable coin. And fee is very low so ustd is more popular right now. But it is not stable its price all time i also saw It's chart. And has no 100% backup solution. It iaso has huge Criticism for scam. So i think it has some lack of trust. I will better avoid hold USDT. We can only use it for pair to pair converte with another coin. But holding will be risky i think. It will be better for short time using it is my personal opinion.

Binance USD was one of the competitors of the usdt but now that we can see busd again, I think usdt is the only stable coin in cryptocurrency that investors believe to hold without any problem. Other stable coins are still learning and it would be very difficult for investors to adopt them because there potentials are not yet known in the market. We need to be wise and take things gradually so we don't become a problem for ourselves for buying stable coin that has no value.

[niall51]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

I personally use USDT and USDC, especially I often use USDT, especially USDT, the most popular stablecoin people use in the crypto world. There are many types of stablecoins like Busd and USDC, but the easiest and most credible to use, I think, is USDT, what do you think?

[Tomcolor]

As this is purely my opinion i like usdt and believe it is the best currency. Actually i mostly use usdt for trading but last year i participated in some ido's and there too usdt was definitely used. Since everything in the crypto market has risk so usdt is not risk free but it has its uses in our crypto workplace. Another interesting listed currency is BUSD.

[Abiky]

It has always been advised that you don't put too much into stable coins, since they are pegged with traditional currency, inflation might hit one day. Beside stable coins are less volatile so why would someone invest in a coin that can even stay for a month without any increase or decrease in price. But USDT has not shown any characteristics of a scam project and it is doing well till today. What I admire of stable coins is there fast transaction rate. They can be used as intermediaries from your bank to the coin you intend investing on.

The thing about stablecoins is that they're issued by a third-party (in this case, a private company). Why would anyone trust something that's bound to failure? A major hack, a rugpull, or even government intervention could put your stablecoin investment at risk. If there was some sort of insurance when investing in a stablecoin, it would've been an entirely different story. Neither USDT, USDC, or any other stablecoin can be trusted with your hard-earned money.

Traditional Fiat currencies backed by banks are a much safer bet. Still, they can lose value due to inflation and bad monetary policies by central banks. Tether (USDT) may be the oldest stablecoin on the market. But that doesn't mean it's immune to failure. You should be cautious by not putting all of your life savings into it. As long as you do that, you will have nothing to worry about.

[Makus]

The thing about stablecoins is that they're issued by a third-party (in this case, a private company). Why would anyone trust something that's bound to failure? A major hack, a rugpull, or even government intervention could put your stablecoin investment at risk. If there was some sort of insurance when investing in a stablecoin, it would've been an entirely different story. Neither USDT, USDC, or any other stablecoin can be trusted with your hard-earned money.

Traditional Fiat currencies backed by banks are a much safer bet. Still, they can lose value due to inflation and bad monetary policies by central banks. Tether (USDT) may be the oldest stablecoin on the market. But that doesn't mean it's immune to failure. You should be cautious by not putting all of your life savings into it. As long as you do that, you will have nothing to worry about.

Absolutely correct mate, in as much as they are less volatile doesn't mean they are immune to failure as you said. The major use of stable coins should be for fast transaction and less volatility, so that you'll not be loosing any coin even when other coins are experiencing a massive dump in price. Aside that, I don't see any important use of stablecoin. Inflation might cause the coin to dump since it is pegged with a traditional currency, that is the number one disadvantage of stablecoin. And many investor miss out this part, that Inflation can strike at any time, and they can leave their money hagging on stable coin for a long period of time.

[redwine49]

The thing about stablecoins is that they're issued by a third-party (in this case, a private company). Why would anyone trust something that's bound to failure? A major hack, a rugpull, or even government intervention could put your stablecoin investment at risk. If there was some sort of insurance when investing in a stablecoin, it would've been an entirely different story. Neither USDT, USDC, or any other stablecoin can be trusted with your hard-earned money.

Traditional Fiat currencies backed by banks are a much safer bet. Still, they can lose value due to inflation and bad monetary policies by central banks. Tether (USDT) may be the oldest stablecoin on the market. But that doesn't mean it's immune to failure. You should be cautious by not putting all of your life savings into it. As long as you do that, you will have nothing to worry about.

Absolutely correct mate, in as much as they are less volatile doesn't mean they are immune to failure as you said. The major use of stable coins should be for fast transaction and less volatility, so that you'll not be loosing any coin even when other coins are experiencing a massive dump in price. Aside that, I don't see any important use of stablecoin. Inflation might cause the coin to dump since it is pegged with a traditional currency, that is the number one disadvantage of stablecoin. And many investor miss out this part, that Inflation can strike at any time, and they can leave their money hagging on stable coin for a long period of time.

I don't see any advantages from stablecoins except trading and staking. the weakness lies in pedging with traditional fiat. if they decide that usdt is no longer tied to usd then history repeats itself like USD pedging with gold in 1976

[SeriouslyGiveaway]

I have participated in this market since 2017, and what surprises me the most is that Tether still exists today as the stable coin with the largest market capitalization. Having gone through so much FUD, almost every year MMs release FUDs about Tether. Those FUDs are not unfounded when in the past they could not prove their reserves, while USDT was still printed continuously during the growth cycle. Through many ups and downs, it can be said that Tether has gone through harsh tests of both the market and users, and recently more specific data about the amount of money they have and a large amount of Bitcoin they are holding that has somewhat strengthened their position. I believe that if they didn't have real strength, they would have collapsed a long time ago, so trusting in Tether right now is well-founded. In addition, currently on the market there are only 2 strongest stable coins for you to choose from: USDT and USDC, it is safer to hold both.

[mich]

Well usdt did now launch something called Tether Edu. It is a program to provide digital skills in the emerging markets with courses in blockchain, AI, design, and other areas.

https://news.bitcoin.com/tether-launches-tether-edu-expands-educational-initiatives-in-emerging-markets/

[Abiky]

I don't see any advantages from stablecoins except trading and staking. the weakness lies in pedging with traditional fiat. if they decide that usdt is no longer tied to usd then history repeats itself like USD pedging with gold in 1976

Of course. It's even worse, because you're entrusting your money to a private entity instead of a bank (which is backed by the government). USDT's peg to the USD can fail anytime. Even JPMorgan analysts said Tether has a "lack of regulatory compliance and transparency”. You can read all about it here: https://news.bitcoin.com/jpmorgan-warns-of-increased-risk-for-crypto-market-due-to-tethers-lack-of-regulatory-compliance-and-transparency/

Imagine how the crypto market will fall once USDT collapses. There will be a "bloodbath" that's going to be worse than the collapses of FTX and Mt. Gox combined. While crypto will recover, it's going to take quite some time before that happens. A huge buying opportunity for newcomers into crypto, but a total loss for those who got in before the crash. With CBDCs on the brink of launch, centralized stablecoins will become a thing of the past.

[shinratensei_]

I don't see any advantages from stablecoins except trading and staking. the weakness lies in pedging with traditional fiat. if they decide that usdt is no longer tied to usd then history repeats itself like USD pedging with gold in 1976

Of course. It's even worse, because you're entrusting your money to a private entity instead of a bank (which is backed by the government). USDT's peg to the USD can fail anytime. Even JPMorgan analysts said Tether has a "lack of regulatory compliance and transparency”. You can read all about it here: https://news.bitcoin.com/jpmorgan-warns-of-increased-risk-for-crypto-market-due-to-tethers-lack-of-regulatory-compliance-and-transparency/

Imagine how the crypto market will fall once USDT collapses. There will be a "bloodbath" that's going to be worse than the collapses of FTX and Mt. Gox combined. While crypto will recover, it's going to take quite some time before that happens. A huge buying opportunity for newcomers into crypto, but a total loss for those who got in before the crash. With CBDCs on the brink of launch, centralized stablecoins will become a thing of the past.

hopefully that won't happen, USDT have too much impact these days, there's some people that always theorized that if USDT minted and total supply increase, that means its a sign of btc bullrun, i couldn't agree more with that statement, the price rise after USDT gets minted, if it falls like jpmorgan has warned, it will be bad, the failing of luna's ustc will be small compared to this disaster imagine $96 billion gone to the drain that would be concern of every country in the world.
i do agree with jpmorgan statement, a stablecoin provider, should be transparent, so that people are not frenzied at the slight bad rumour regarding of reserved wealth to back up the asset, its just really crucial.
being routinely audited and transparently reveal the reserve, what kind of commodity being used to back up if any is just as important as growing their market cap, hopefully that article could some how motivate tether to be at least do better.

[john1010]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

It's great to see your curiosity and eagerness to learn more about the crypto space! As someone who has been in the crypto world for a while, I can understand your concerns about Tether and its potential impact on the market.

While Tether has indeed been subject to scrutiny and controversy, it's essential to approach the topic with a balanced perspective. While some voices in the community have raised valid concerns about Tether's transparency and backing, others argue that it serves a vital role in providing liquidity and stability to the crypto market.

As for stablecoins, there are various options available, each with its own set of advantages and drawbacks. Personally, I find stablecoins backed by reputable entities or audited regularly to be the most credible. Examples include USDC (USD Coin) and DAI, which are known for their transparency and regulatory compliance.

Ultimately, it's crucial to do your research, stay informed about developments in the space, and make informed decisions based on your risk tolerance and investment goals.

[hd49728]

While Tether has indeed been subject to scrutiny and controversy, it's essential to approach the topic with a balanced perspective. While some voices in the community have raised valid concerns about Tether's transparency and backing, others argue that it serves a vital role in providing liquidity and stability to the crypto market.

Tether use their money to buy US. bonds and Circle USDC do the same too. Stable coin companies are engaging deeper in USA. economy and Tether are becoming bigger with time.

They recently changed an audit company to a bigger one as their effort to improve their audit report to community and customers as well as to build up their reputation.

I did not believe in Tether too much but after the Terra UST stable coin depeg and some similar depegs on several stable coins, Tether USDT is a best stable coin if you need one stable coin to use. At least they handled about $10B withdrawals from customers smoothly, no issue. I am not sure how will they handle bigger withdrawal like $20B or $50B.

[Supianto]

While Tether has indeed been subject to scrutiny and controversy, it's essential to approach the topic with a balanced perspective. While some voices in the community have raised valid concerns about Tether's transparency and backing, others argue that it serves a vital role in providing liquidity and stability to the crypto market.

Tether use their money to buy US. bonds and Circle USDC do the same too. Stable coin companies are engaging deeper in USA. economy and Tether are becoming bigger with time.

They recently changed an audit company to a bigger one as their effort to improve their audit report to community and customers as well as to build up their reputation.

I did not believe in Tether too much but after the Terra UST stable coin depeg and some similar depegs on several stable coins, Tether USDT is a best stable coin if you need one stable coin to use. At least they handled about $10B withdrawals from customers smoothly, no issue. I am not sure how will they handle bigger withdrawal like $20B or $50B.

True, I didn't get all the hate around it, especially after UST collapse. They always provide what they promise.

[DeathAngel]

It has a long history of transparency and trustworthiness. If you’re asking me, would I leave my net worth in it for a significant amount of time then the answer is no. But would I sit between crypto & fiat trades, waiting for an opportunity to buy back cheaper then yes. I think it’s fine as a type of middleman, kept on an exchange short term. Like anything though, do your research and not your keys, not your coins.

[Nikita2024]

Tether is the most popular stablecoin with the highest liqiudity for stablecons. Many people use it and they have to trust it.

[Dr.Osh]

It has a long history of transparency and trustworthiness. If you’re asking me, would I leave my net worth in it for a significant amount of time then the answer is no. But would I sit between crypto & fiat trades, waiting for an opportunity to buy back cheaper then yes. I think it’s fine as a type of middleman, kept on an exchange short term. Like anything though, do your research and not your keys, not your coins.

well, USDT is the stable coin with the most volume, so I also feel it is the safest stable coin, even though there is a lot of negative news about USDT. However, I also implemented the same thing. I will not hold my money for a long period of time in USDT, however, I still use it for the short term, because I feel that it is the best to use.

[BD Technical]

I have been connected with Cryptocurrency for almost three years. Since then I have depended on Stable Coin USDT because I do all Token swap and sell directly to Binance.  Moreover, I think everyone makes this USDT because the price of USDT and parents have no reason to fear.  Because it's a dollar and it's reliable, everyone makes it for him.  And moreover it does not fluctuate in price like ETH, BNB, BTC.  At one place there is a maximum of less than two cents.  And moreover for all one reason we all depend on it to make our money rise but its rise is very less and fear is very less found to depend on it.

[Fatema Begum]

Yes still now i believe USDT coin for trading and holding.

[EarnOnVictor]

Tether is the most popular stablecoin with the highest liqiudity for stablecons. Many people use it and they have to trust it.

These are merely good points about the USDT, but as good as it is, do you think you can entirely trust it? Well, it is what I use with my exchanges as we all know that many top exchanges do not allow the USD in many of their transactions, so I never had the chance. Had it been I have the choice, I would not use USDT, I would only be converting my cryptos to USD back and forth for safer reasons.

As we all know, the USDT is being claimed to be pegged with the USD but in reality, it is not so, the value is not always $1=1USDT unless we are deceiving ourselves. And there was a time that the value shited significantly and they were just apologizing and citing reasons. But this cannot make me trust it totally. Though it is good and has proven itself to be somewhat safer, still, no one knows the worst that will happen tomorrow.

This is even as it is not decentralized, anything can happen due to this.

[Abiky]

It has a long history of transparency and trustworthiness. If you’re asking me, would I leave my net worth in it for a significant amount of time then the answer is no. But would I sit between crypto & fiat trades, waiting for an opportunity to buy back cheaper then yes. I think it’s fine as a type of middleman, kept on an exchange short term. Like anything though, do your research and not your keys, not your coins.

Do you have proof of Tether's "transparency and trustworthiness"? Because Tether has been rather ambiguos in its proof of reserves. Even JP Morgan stated Tether's "lack of regulatory compliance". It's been shady from the start. Just because it's the largest stablecoin by market cap, doesn't mean we should trust it blindly with our money. You should only use USDT for short-term trades when you want to protect yourself from market volatility.

For cashing out your crypto, nothing beats good-old Fiat (in this case, the US Dollar). It won't be long before USDT collapses. The crypto market is unpredictable, so expect the unexpected.

[Nikita2024]

Tether continue to be the most popular stablecoin with the most developed ecosystem and a lot of users.

[fapar]

Yes still now i believe USDT coin for trading and holding.

Until the moment when your USDT is blocked by Tether. This only happens in exceptional cases, but the chance is always greater than zero. Of course, USDT is convenient and I use it myself, but storing your money in it has a risk. I am looking towards using USDC, but I also have questions about it.

[mich]

I do think tether is still most trustful stablecoin.  It has the plan to invest $25 Million in the mobile payment platform called Oobit.

I like think it is better to trust a altcoin or stablecoin when they invest in other things. https://crypto.news/tether-invests-25m-in-oobit-to-expand-crypto-payments-globally/