Do You trust Tether (USDT) Stablecoin?

[Mehedi72]

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

although that was just a guess/speculation but your opinion seems logical enough to me. Recently it is being trade on some so called exchanges and losed 52% trading volume within 24H but this is just an start and still have time to go forward as you said People always Trust a established organization which has concrete assurance of surviving, back and ability to connected. centralization could be reason for manay obstruction but usdt also centralized crypto in comparison. But i still give more priority to usdt than new comer pyusd

[Pandji02]

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.

Well, I don't think you can speak for all crypto owners. But it's definitely the best option we have IMO. I don't trust BUSD and BNB at all. Binance is having not the best times right now. And the worst may yet to come.

[goxcraft]

Tether can be the next bomb that explodes. Surprisingly, when USDC MC decreased Tether marketcap, it raises. It's because tether redemption is not available right now. US banks are stopping cashing Tether.

[Abiky]

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.

Yes. PayPal is known to be too restrictive at times. Customers complained about getting their accounts closed for no reason. Imagine what PayPal will do with stablecoin transactions. Anything they deem suspicious, will have your stablecoin funds frozen or confiscated at will. If both Tether and USD Coin's blacklist wasn't enough, prepare yourself for the worst.

It's unfortunate the crypto industry is heading towards centralization. This is not what Satoshi wanted in the first place. With "Wall Street" in the game, don't expect things to get better in the future. Who knows how Tether will fare in the future against a highly-competitive stablecoin market? Just my opinion

[coin-score.ai]

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!

Hi all,

I've been closely following the discussions here about trust in Tether and I'd like to share some thoughts as well. Personally, I find USDT a useful tool in the crypto ecosystem, especially when it comes to trading and avoiding the volatility of other cryptocurrencies. The fact that it is one of the most liquid and affordable stablecoins adds to its undeniable value.

However, I cannot overlook the question marks surrounding the transparency and reserves backing USDT. In the past, the lack of clear independent audits has been a point of concern for me and many others.

We have noticed that Tether has started to take steps to increase transparency and regulatory compliance, which is a step in the right direction. But from my perspective, there is still a lot to do to build solid trust.

In conclusion, using USDT comes with benefits as well as risks. If you decide to use it, make sure you are fully aware of both aspects. I personally use it with caution and prefer to only use it as a bridge between transactions, and not as a long-term store of value.

Attached is a fundamental analysis of Theter.

https://coin-score.ai/cryptoprojects/fundamental-analysis-of-the-tether-usdt-cryptocurrency

[Mikky.Crypto]

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.

USDT's like the old reliable in the crypto scene. It's no wonder it's got a solid fan base. As for BUSD, Binance does have a good track record, so that's a solid choice too.

[Biznesmen]

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!

USDT is a crypto currency stable coin, which means it is supposed to be worth one dollar and can be redeemed, in theory, at any point for one dollar. USDT is widely popular, and it is used across almost every major crypto currency exchange, every major defi platform, and every blockchain's got Usdt, the wide-scale acceptance aside, has been plagued by controversy over the years. Constant questions regarding the company's reserves and their ability to actually meet their obligations never cease to circulate online. The founders of usdt were only doxed after the paradise paper leak showed that it was made by the same team behind the Bitfinex crypto currency exchange, and as a whole host of other allegations have basically circulated, they've all worked to tarnish the reputation of usdt and have led to constant fears that usdt could implode and take all of crypto right down the toilet.

[Abiky]

USDT is a crypto currency stable coin, which means it is supposed to be worth one dollar and can be redeemed, in theory, at any point for one dollar. USDT is widely popular, and it is used across almost every major crypto currency exchange, every major defi platform, and every blockchain's got Usdt, the wide-scale acceptance aside, has been plagued by controversy over the years. Constant questions regarding the company's reserves and their ability to actually meet their obligations never cease to circulate online. The founders of usdt were only doxed after the paradise paper leak showed that it was made by the same team behind the Bitfinex crypto currency exchange, and as a whole host of other allegations have basically circulated, they've all worked to tarnish the reputation of usdt and have led to constant fears that usdt could implode and take all of crypto right down the toilet.

Cryptocurrency? More like a centralized digital Fiat currency. It's nothing like an ordinary cryptocurrency due to the way it's designed. You can see why banks and "Wall Street" like stablecoins a lot. Especially USDT. After all, it's the biggest stablecoin on the market. But it's also the most manipulated digital asset.

The shady USD reserves and constant printing of new units (although that eased off a bit), tell us USDT cannot be trusted with your money. Since it's not insured by a US government agency (particularly the FDIC), investors will lose everything in an instant after a hard crash. Same goes for USDC and other variants. If you really want to be safe, cash out to Fiat (USD) instead. Who knows how long will stablecoins last? Just my thoughts

[Psynthax]

there are many rumours surrounding USDT, but we all know this coin has been standing for so long if it collapse i doubt entire stablecoin market will not have any aftermath effect.
I mean best course of action of course diversifying across various stablecoin but if its just temporary to keep our wealth from fluctuation, i think USDT serves its purpose.

[bettercrypto]

Honestly, I only use USDT when I convert my profit to our currency using P2P, and then I only use it when I have a trading pair with other cryptocurrencies like Ethereum, BnB, Pepe, Shib, and others.

That's just what I do, but what you say is holding is not. That's why if you ask me to buy USDT versus USD, of course I will choose USD; as far as I know, it is more stable than USDT. But of its other uses, I can't think of anything or remember, because some say that when it comes to transparency, it's not really that transparent.

[Teraboy]

i honestly don't care with all these news, because every coin doesn't matter how big could definitely have the chance of collapsing, i don't think USDT is an exception.
whats important is to simply watch out for the news about the collapse of the stablecoins.
because that way you can exit the stablecoin and retain your money.

[nur1labs]

USDT is trust. but we not know when that collapsed. As we know this digital world not have real value depend on.

[FahriZah]

I involved with crypto since 2015 and when i'm trading in crypto 2015 / 2016 then no have any USDT coins and sometimes got lose because totally depends on BTC market value when btc down than my balance is also down when btc up than my balance also up like this but when i know as well USDT comes in the crypto market than i'm very happy and my trade is profitable because USDT is stable coin and still now i trusted USDT always.

[Abiky]

i honestly don't care with all these news, because every coin doesn't matter how big could definitely have the chance of collapsing, i don't think USDT is an exception.
whats important is to simply watch out for the news about the collapse of the stablecoins.
because that way you can exit the stablecoin and retain your money.

Exactly. Even Bitcoin can collapse in the future. For what I know, nothing is guaranteed to last forever. Only you are responsible of protecting your funds from undesired events. By taking the necessary security precautions, you'll avoid losing it all in an instant. A Tether collapse would surely make a huge impact on the crypto market. In a bad way, of course. I doubt investors will trust stablecoins again after such a disaster.

Who cares about stablecoins when crypto was meant to eliminate the middleman in the first place? Truly-decentralized cryptocurrencies like Bitcoin and Litecoin will be the ones that will last a lifetime. The rest will simply fade away into oblivion. With CBDCs right around the corner, we can finally say goodbye to stablecoins for good. Just my opinion

[yazher]

there are many rumours surrounding USDT, but we all know this coin has been standing for so long if it collapse i doubt entire stablecoin market will not have any aftermath effect.
I mean best course of action of course diversifying across various stablecoin but if its just temporary to keep our wealth from fluctuation, i think USDT serves its purpose.

For me, I haven't chosen this coin as an investment rather it's just some alternative whenever I get some trouble trading to BTC because sometimes our local exchanges are congested and to preserve the current high price of bitcoins that time, I temporarily converted my BTC to USDT but that's a risky move considering this coin can be close at any moment and they can freeze it easily whenever they want to. But as for me, I haven't found any problem doing it.

[Wakate]

i honestly don't care with all these news, because every coin doesn't matter how big could definitely have the chance of collapsing, i don't think USDT is an exception.
whats important is to simply watch out for the news about the collapse of the stablecoins.
because that way you can exit the stablecoin and retain your money.

USDT is one of the trusted stable coins in the market right now and I can see that there are some persons that are trying to fud the project. USDT team had invested there funds in Bitcoin and other tokens too so it is going to be hard for us to see anything like rug pull in the project. It is a regulated stable which is different from it fellow competitors that might be trying to weigh it down. It is true that the crypto market is very risky since a lot had happened in the past and even in the future, more can still happen. We need to measure our safety and not to put too much trust on any cryptocurrency apart from Bitcoin.

[mich]

Well Tether has just printed $4 Billion usdt in just the past month. And I still think it is the most trusted stalecoin in crypto with biggest marketcap of all stablecoins.

Tether is going to plan 5 new projects in the year 2024. It plans to really have a impact in Web 2. https://www.cryptopolitan.com/tether-mints-4-billion-usdt-in-a-month/

[libert19]

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.

[Belarge]

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Choosing a more stablecoin, I'm going with USDT and USDC, they're similar and served different objectives but they're both mostly used as gas fees. None of these crypto projects are safe for us to invest, rather we should plan for good results and plan for better days ahead, always prepared for the worst to happen in the system. First of all, it's not advisable to put your trust in any of these projects because there's presence of high volatility in the system, we just stick to a promising project and invest in, none of us is confident because incident that would happen tomorrow or next can greatly affects our planning and balanced positions in the market.

[batang_bitcoin]

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.