Why hold Tether when you can hold Cash?

[PX-Z]

..yes you can transfer a physical cash online. We have lots of options now and they are now more easier compared to before when we can mostly use a money remittance centre. One example of that would be the kiosks that are installed in some mini shops.

Remittances is not sending cash online for you, even banks cannot do that.
Again you cannot transfer cash online. You are referring the digital money or digital cash that can be transfer electronically that those remittances are kind of "converting" those number from cash to transfer electronically. Even google or any AI chat will be amazed if you tell them you can possibly directly send cash online.

[libert19]

Reasons i prefer stablecoins is due to anonymity. You can have $100k in stablecoins, move $50k here and there, no one would bat an eye, meanwhile there is $1k movement in your bank account and you'll get a call, I understand the security aspect of it but still.

[mich]

Well Tether is the best stablecoin to have if you like to invest in them. I think it is alot safer to have Tether then cash because we can lose cash. And it is hard to lose Tether only if you are new to it and lose it but it will not happen alot of the times.
For me I do not like to have alot of cash in my bank account. I  just do not like how the banking system does work. And with Tether we can be more anonymous with our crypto. And as another said we can send our tehter easier then we can send fiat.

[Godday]

Reasons i prefer stablecoins is due to anonymity. You can have $100k in stablecoins, move $50k here and there, no one would bat an eye, meanwhile there is $1k movement in your bank account and you'll get a call, I understand the security aspect of it but still.

And we can also send $100k abroad without having to verify for a few days. I think stablecoins have a high level of privacy and ease of transacting in large amounts. Although it will not be anonymous if you withdraw it in cash but I prefer stablecoins in terms of transaction speed. On the other hand stablecoins can be my safe haven when cryptocurrencies are crashing. I can store my crypto assets in stablecoins, and buy crypto assets back when the price is normal.

[o48o]

I never understood the logic. Anyone use USDT? Why?  

Because it is decentralized and private. The bank cannot freeze your USDT (unless you store it on a third-party wallet like a crypto-exchange).

It's not either decentralized or private. I am not sure where you got that impression from. Transactions are transparent and there's no anonymity, it's pseudonymity at best, until you cash it out and get kyc:ed if needed. And if that wallet is blacklisted by tether, you can say goodbye to your money.

I mean you don't have to worry anything if you aren't blacklisted or don't get involved with money laundering, but saying it's private and decentralized is quite misleading.

[goldkingcoiner]

I never understood the logic. Anyone use USDT? Why?  

Because it is decentralized and private. The bank cannot freeze your USDT (unless you store it on a third-party wallet like a crypto-exchange).

It's not either decentralized or private. I am not sure where you got that impression from. Transactions are transparent and there's no anonymity, it's pseudonymity at best before you cash it out when you get kyc:ed if needed, and if that wallet is blacklisted by tether.

I mean you don't have to worry anything if you aren't blacklisted or don't get involved with money laundering, but saying it's private and decentralized is quite misleading.

Huh... So it is.

This whole time I thought it was decentralized... Guess I was wrong. Thanks for clearing that up!

I would like to change my statement to: USDT and other centralized tokens/coins should be avoided like the plague.

edit: but also, you are confusing privacy with anonymity.

[o48o]

-cut-
This whole time I thought it was decentralized... Guess I was wrong. Thanks for clearing that up!

I would like to change my statement to: USDT and other centralized tokens/coins should be avoided like the plague.

edit: but also, you are confusing privacy with anonymity.

I wouldn't go that far, as they have their use cases, and it's not like we would stay away from fiat money either. At least i constantly need that to pay my bills and act with he real world.

And maybe i am confusing anonymity with privacy, depending what you mean by privacy. To me, with privacy of your transactions would be confidential, and currently they are public in the blockchain.

While no one outsider can easily figure out owners of wallets, those wallets can be linked with IDs if some official, who has access to kyc data, decides to investigate origins and trail of that usdt (Like they are doing in many cases, as that's a part of AML laws now).

[bastian466]

Tether is very useful for me who often transfer crypto assets between exchanges to reduce transfer fees, I always use tether and many network options to see which one has lower fees, why I do that the goal is to make exchanges to fiat money I have to jump between exchanges

[mdzahed134]

Tether USDT is very convenient assets in crypto, you can exchange it to another crypto, And you can spend it to buy anything from any country as payment it’s really too easy to use. How much cash you can hold in your home? Not too much because it’s about question of security of your money, and i also feel insecurity to keep hold big amount in banks, So i have no other best alternative way as like hold USDT.

[betswift]

I never understood the logic. Anyone use USDT? Why?  

Because it is decentralized and private. The bank cannot freeze your USDT (unless you store it on a third-party wallet like a crypto-exchange).

It's not either decentralized or private. I am not sure where you got that impression from. Transactions are transparent and there's no anonymity, it's pseudonymity at best before you cash it out when you get kyc:ed if needed, and if that wallet is blacklisted by tether.

I mean you don't have to worry anything if you aren't blacklisted or don't get involved with money laundering, but saying it's private and decentralized is quite misleading.

Huh... So it is.

This whole time I thought it was decentralized... Guess I was wrong. Thanks for clearing that up!

I would like to change my statement to: USDT and other centralized tokens/coins should be avoided like the plague.

edit: but also, you are confusing privacy with anonymity.

We learn something new as much as we live