Do You trust Tether (USDT) Stablecoin?

[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.

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[1714582267]

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[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