Do You trust Tether (USDT) Stablecoin?

[Bushdark]

By looking at the USDT market cap, one thing came to mind: what will happen if this thing crashes like UST? This might never happen, but a single stablecoin that is dominating the market can be bad for the overall industry if there is anything bad related to the project. This can be anything like regulatory pressure or dishonesty on the part of the team. Another thing that caught my eye is the rise of USDT marketcap and fall of USDC market cap. They are behaving quite oppositely, so anyone can explain what is happening with them?

Since Tether USD is one of the strong stable coins in the market with good strategy and impressive effort to keep the project stable for as long as possible. We also need to invest wisely just like we have seen with many cryptocurrency projects that had crashed due to bad maintenance and poor management team tending for them. USDT is a good project also we need to check out other strong projects too so that we can be safer than confidently investing in just one stable coin alone.

[Romeotom]

I didn’t seen any reason for untrust usdt because if we are investors then we can use usdt for buy new or old token. Just enough thinking for little investors but if you are a milliner then you can thinking of trust history. I believe usdt good strategy and impressive quality project in the crypto market.

[God bless u]

By looking at the USDT market cap, one thing came to mind: what will happen if this thing crashes like UST? This might never happen, but a single stablecoin that is dominating the market can be bad for the overall industry if there is anything bad related to the project. This can be anything like regulatory pressure or dishonesty on the part of the team. Another thing that caught my eye is the rise of USDT marketcap and fall of USDC market cap. They are behaving quite oppositely, so anyone can explain what is happening with them?

Since Tether USD is one of the strong stable coins in the market with good strategy and impressive effort to keep the project stable for as long as possible. We also need to invest wisely just like we have seen with many cryptocurrency projects that had crashed due to bad maintenance and poor management team tending for them. USDT is a good project also we need to check out other strong projects too so that we can be safer than confidently investing in just one stable coin alone.

Relying on one stable coin is not good idea If it is for holding purpose..Usdc, Dai are some other stable coins which are available in many exchanges.. If we diversified our stable coin portfolio in all these three coin then it will minimize our risk. Amongst all stable coins USDT has high market cap..If we check exchanges then one thing is clear that most of pair is available only in USDT which show the strength of this stable coin.

However Any stable coin can face security issue just like BUSD .. This is the reason I believe that relying on only usdt is bad choice and we cannot mark usdt fully secured stable coin.

[Samurai trieng]

Of course, I really believe in USDT because its popularity is very high. Apart from that, Tether is a very stable coin, therefore this coin is the best solution when the crypto market experiences inflation like several years ago.

[Sophokles]

By looking at the USDT market cap, one thing came to mind: what will happen if this thing crashes like UST? This might never happen, but a single stablecoin that is dominating the market can be bad for the overall industry if there is anything bad related to the project. This can be anything like regulatory pressure or dishonesty on the part of the team. Another thing that caught my eye is the rise of USDT marketcap and fall of USDC market cap. They are behaving quite oppositely, so anyone can explain what is happening with them?

Since Tether USD is one of the strong stable coins in the market with good strategy and impressive effort to keep the project stable for as long as possible. We also need to invest wisely just like we have seen with many cryptocurrency projects that had crashed due to bad maintenance and poor management team tending for them. USDT is a good project also we need to check out other strong projects too so that we can be safer than confidently investing in just one stable coin alone.

Relying on one stable coin is not good idea If it is for holding purpose..Usdc, Dai are some other stable coins which are available in many exchanges.. If we diversified our stable coin portfolio in all these three coin then it will minimize our risk. Amongst all stable coins USDT has high market cap..If we check exchanges then one thing is clear that most of pair is available only in USDT which show the strength of this stable coin.

However Any stable coin can face security issue just like BUSD .. This is the reason I believe that relying on only usdt is bad choice and we cannot mark usdt fully secured stable coin.

You can do that to keep your balance safe but i was talking about the altcoin industry here. Most of the projects that is listed in a centralized exchange have a USDT pair. USDT is heavily used pair not only for altcoin but also for bitcoin. So if something bad happens with USDT then this will be a massive blow to the whole altcoin market. All the altcoin will heavily crash as all the pair are mostly in USDT and due to the liquidity shortage these projects will have that time.

[God bless u]

You can do that to keep your balance safe but i was talking about the altcoin industry here. Most of the projects that is listed in a centralized exchange have a USDT pair. USDT is heavily used pair not only for altcoin but also for bitcoin. So if something bad happens with USDT then this will be a massive blow to the whole altcoin market. All the altcoin will heavily crash as all the pair are mostly in USDT and due to the liquidity shortage these projects will have that time.

Temporary dump is possible if usdt crashed or anything bad happens. I agree that most of the exchanges have only usdt pair for certain altcoins and will be affected with usdt. Top exchanges already knows about this and most exchange have now alternative option for this problem. Binance already have FDUSD, other exchange also have other stable coin. Just like BUSD I think there will be no big problem of liquidity but time will show what really happen that time.

[Freddie Boyer]

I don't tust USDT beacuse it's too centralised

If Tether (USDT) is considered the pioneer stablecoin and as long as it's SEC-free and legit, I'm still sticking with it. Yes. Stablecoins play an important role in protecting wealth from market fluctuations, and Tether allows easy liquidation if it wants to lose its peg to the USD.

[arufox]

USDT is indeed a stablecoin designed to maintain the US dollar peg. However, there are several concerns that arise in my mind regarding USDT, including, because USDT lacks transparency regarding its reserves. Apart from that, there are also concerns that USDT might be used to manipulate the cryptocurrency market. However, my concerns are based on accusations and controversies surrounding USDT circulating in various news, although this does not mean that all my concerns are valid or that USDT has fundamental weaknesses. However, a lack of transparency and regulatory oversight has contributed to doubts and questions surrounding USDT operations.

[nimogsm]

USDT is indeed a stablecoin designed to maintain the US dollar peg. However, there are several concerns that arise in my mind regarding USDT, including, because USDT lacks transparency regarding its reserves. Apart from that, there are also concerns that USDT might be used to manipulate the cryptocurrency market. However, my concerns are based on accusations and controversies surrounding USDT circulating in various news, although this does not mean that all my concerns are valid or that USDT has fundamental weaknesses. However, a lack of transparency and regulatory oversight has contributed to doubts and questions surrounding USDT operations.

I have similar concerns, I agree with your opinion. But I like the fact that for so many years of its operation there have been no major problems that could greatly affect the state of the market. And many will continue to use it every day, which is probably its main advantage.

[leonair]

I didn’t seen any reason for untrust usdt because if we are investors then we can use usdt for buy new or old token. Just enough thinking for little investors but if you are a milliner then you can thinking of trust history. I believe usdt good strategy and impressive quality project in the crypto market.

Yes usdt has been in a good position in the market for a long time with a very high marketcap. So there is nothing to disbelieve it. all investors trust it a lot and use it for trading and  use it to stable there money on cryptocurrency. So of course it's a trusty peg. But since investing in crypto coins is risky because sometimes crypto coins crash and stable coins like ust are not excluded. So due to this one should not keep very high amount of money here

[Abiky]

USDT is indeed a stablecoin designed to maintain the US dollar peg. However, there are several concerns that arise in my mind regarding USDT, including, because USDT lacks transparency regarding its reserves. Apart from that, there are also concerns that USDT might be used to manipulate the cryptocurrency market. However, my concerns are based on accusations and controversies surrounding USDT circulating in various news, although this does not mean that all my concerns are valid or that USDT has fundamental weaknesses. However, a lack of transparency and regulatory oversight has contributed to doubts and questions surrounding USDT operations.

Tether's unwillingness to provide proof of USD reserves, should be a huge red flag for anyone considering investing into it for the long haul. We should seek alternatives that are regulatory-compliant for complete peace of mind. I believe USD Coin and Paxos USD are much safer options. USDT may be the biggest stablecoin on the market, but that doesn't mean it's "safe". It may've reached that position due to market manipulation by the issuing company. Constant "printing" of new USDT, tells us exactly that.

The crypto market often behaves in many strange and bizarre ways, so it's best to diversify just in case. I can see how negatively the market will react after a USDT collapse. Who knows how much time there is left before this happens? Just my thoughts

[fzkto]

USDT is indeed a stablecoin designed to maintain the US dollar peg. However, there are several concerns that arise in my mind regarding USDT, including, because USDT lacks transparency regarding its reserves. Apart from that, there are also concerns that USDT might be used to manipulate the cryptocurrency market. However, my concerns are based on accusations and controversies surrounding USDT circulating in various news, although this does not mean that all my concerns are valid or that USDT has fundamental weaknesses. However, a lack of transparency and regulatory oversight has contributed to doubts and questions surrounding USDT operations.

Tether's unwillingness to provide proof of USD reserves, should be a huge red flag for anyone considering investing into it for the long haul. We should seek alternatives that are regulatory-compliant for complete peace of mind. I believe USD Coin and Paxos USD are much safer options. USDT may be the biggest stablecoin on the market, but that doesn't mean it's "safe". It may've reached that position due to market manipulation by the issuing company. Constant "printing" of new USDT, tells us exactly that.

The crypto market often behaves in many strange and bizarre ways, so it's best to diversify just in case. I can see how negatively the market will react after a USDT collapse. Who knows how much time there is left before this happens? Just my thoughts

The market is only going up because of Tether printing usdt. I don't know what could happen to the whole industry if something happens to Tether. It seems to me that no alternatives will be able to help. Trust in any stablecoins will be lost forever. So I guess there is no big difference in trust in different projects.

[Mate2237]

I didn’t seen any reason for untrust usdt because if we are investors then we can use usdt for buy new or old token. Just enough thinking for little investors but if you are a milliner then you can thinking of trust history. I believe usdt good strategy and impressive quality project in the crypto market.

When I checked trading view just, I saw that USDT is the second to Bitcoin in price and it is very close to Bitcoin and the only different I can figure out from these two is volatile of Bitcoin and USDT is a stable coin. And people use USDT in Binance more Bitcoin because it stable nature. I have seen a lot of my friends and relatives are using USDT for transaction and storing. They even buy it and keep it in their exchange wallet.

Many trust USDT tether because it is easy for them to calculate it with dollar.

[Rasa nanas]

Of course, I really believe in USDT because its popularity is very high. Apart from that, Tether is a very stable coin, therefore this coin is the best solution when the crypto market experiences inflation like several years ago.

I agree, since I first got to know crypto I have used USDT and in using USDT until now I have never encountered any irregularities. and the reality is that currently USDT is the largest stable coin and has the most stable value. I think there is no reason not to believe in USDT 

[Abiky]

The market is only going up because of Tether printing usdt. I don't know what could happen to the whole industry if something happens to Tether. It seems to me that no alternatives will be able to help. Trust in any stablecoins will be lost forever. So I guess there is no big difference in trust in different projects.

Talk about manipulation. And yet, we've thought central banks were the only ones doing this. You can't expect anything good from a coin that's pegged to the value of a centralized currency (Fiat). That's why Bitcoin was created independently from the existing monetary system. Would you imagine the USD crashing real hard in the future? It would certainly drive Tether's market price to $0. Or Tether itself could lose its peg for unknown reasons.

If USDT dies, expect the "bloodbath" to last for quite some time. This would be good for buyers, but bad for holders. The crypto market often behaves in many strange and bizarre ways, so I'd proceed with caution just to be safe.

[mich]

Well I am wondering why this is going to happen. The country of Russia now will use it for cross boarder payments.

The payment platform is called Exved also does support the ruble and US dollars. And it will allow Russian businesses to do international transactions using tether.   

https://www.cryptotimes.io/russia-integrates-tether-for-cross-border-payments/

[Rimueng]

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 usdt, because it is the most commonly used, recognized by many people, and has a stable exchange rate. And, usd also backed by usd, this making it even safer for transactions in the crypto world.

[mich]

Tether has now frozen 41 wallets that is tied to sanctions. It is a effort to strengthen its security measures.
The wallets are people on the list of Office of Foreign Assets Control. I think this is a good thing for Tether to so letting people know they can not do illegal things with the stablecoin.
https://markets.businessinsider.com/news/currencies/tether-freezes-41-crypto-wallets-tied-to-sanctions-1032887403

[God bless u]

Tether has now frozen 41 wallets that is tied to sanctions. It is a effort to strengthen its security measures.
The wallets are people on the list of Office of Foreign Assets Control. I think this is a good thing for Tether to so letting people know they can not do illegal things with the stablecoin.
https://markets.businessinsider.com/news/currencies/tether-freezes-41-crypto-wallets-tied-to-sanctions-1032887403

This action is looking apparently best for Tether security but it also gives a sign of danger that Usdt is working under USA control and USA can use it for own purpose in the war. If usdt team can frozen any wallet then most of countries who has not good relationship with USA will not use it because USA will order to freeze usdt in specific country wallets and will label it for illegal activity or terrorism. Stable coins should have to be totally decentralized without any control of any country.

[strunberg]

I think that's what they have to do whether they like it or not. USDT is based on the dollar and they also do a lot of business in America. Of course this will make America try to take advantage of it. By making USDT under their control they will secure a place in the future if cryptocurrency technology is truly realized throughout the world. The United States will do anything to gain its personal advantage.