I trust usdt completely. Over time, this has become a standard in the industry and I think many will agree with this. Yes, if you dig deeper in search of information about real reserves, questions may arise since there is no complete transparency and information. But even this factor does not stop users from keeping their funds in this particular asset.
fairly speaking they does disclose their reserve as well as getting it audited, I think they are transparent enough in this regard.
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!
My personal view is that there are 2 stable coins that are the most credible and I personally use both, namely Tether (USDT) and USDC, especially USDT. For example, I want to deposit to an exchange using P2P, I do it with Tether USDT, what else is Tether top 3 coinmarketcap based on Coingecko and CoinMarketCap from I used to use Tether, it's still safe, it depends on which stable coin you want to use, but do your own research
usually using stablecoin is gonna be fine so long you're not holding it for too long like basically for years where it might arise implication along the way, if its for long term i'd never recommend stablecoin, for the simple reason that even TUSD was never expected to go down and went bankrupt but it went bankrupt anyway, no one know for sure the state of these stablecoin therefore we should know that holding stablecoin for too long might instead cause us to lose our money.