Right USDT has a massive volume as the result of the first-mover advantage and now it's hard for other stable coins to beat USDT unless they bring something new. And there's hardly any room to add anything to a stable coin so it's going to be like that until and unless USDT makes a wrong move or something drastic happens with it. There have been stories that USDT cannot be trusted but being fair to them, I have never had any problems and this coin has actually solved a lot of problems. Earlier I used to convert my coins into bank money and there was always added fee from the local exchanger but now that's gone, thanks to USDT and the concept of stable coins.
I am not advocating for USDT though because it comes at its own risk and there are no audits and stuff but as a small trader myself, I love using USDT and will continue to do so.
I am not advocating for USDT though because it comes at its own risk and there are no audits and stuff but as a small trader myself, I love using USDT and will continue to do so.
USDT is the leading stablecoin because of its first-mover advantage. But that doesn't mean you should trust it. After all, Tether (USDT) is centralized. The issuer can easily freeze access to your funds if he wants to. You're better off diversifying your investment into other crypto assets just to be safe. That is if you plan to use USDT as a store of value. If you only plan to use it as a trading tool, then I'd say go for it. It's much better to use USDT for day trading than Fiat itself. You'd get the best of both worlds as USDT combines the speed and efficiency of Blockchain tech, alongside the stability of the US Dollar. How long will it last will greatly depend on government regulations. As long as you don't spend more money than what you can't afford to lose, you'll have nothing to worry about. Just my thoughts
