Do You trust Tether (USDT) Stablecoin?

[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.

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[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.