Why Buy USDT?
I joined a Honduras Crypto currency group on Whatsapp as I wanted to sell some Crypto I had on an exchange. But everybody on this group just wants to buy USDT, and the exchange I had my Crypto on has no stable coins. I was finally able to sell them using Binance.
But this has made me kind of curious about why people only want to buy USDT. I mean why go to all the trouble of buying a Crypto coin that is pegged to the US dollar with US dollars? I mean just keep your dollars.
If you are in Crypto to make money, you invest in a coin that you expect will make gains and you can profit from its upward movement in price. With a stable coin all you are doing is buying something with the same thing. You will definitely not profit and if it becomes unpegged from the USD you will definitely lose. So it's either a draw or a loss. I can see no profit in this.
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They can't wait to get luna'd.
2 trillion usd have been burned this year.
Stablecoins (including Tether (USDT)) can be used as a hedge in case the value of certain cryptocurrencies drops low. Think HBD in relation to HIVE.
Although USDT is the largest stablecoin by market cap on CoinGecko-- usually only Bitcoin and Ethereum have higher market caps-- I recommend against owning USDT. It has a sketcky history, it has never been audited despite promised to do get it done, and it has strong connections to both FTX and Alameda Research.
More reliable stablecoins include BUSD from Binance and DAI (which has versions across several blockchains). And, of course, our very own HBD.
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