Do You trust Tether (USDT) Stablecoin?

[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.

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[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.