Do You trust Tether (USDT) Stablecoin?

[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

[1715554218]

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[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