Do You trust Tether (USDT) Stablecoin?

[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.

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[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.