Is tether a legitimate cryptocurrency?

3 answers

• madixApr 05, 2023 · 2 years ago
  Tether (USDT) is a controversial cryptocurrency that aims to maintain a 1:1 ratio with the US dollar. While some argue that tether is a legitimate cryptocurrency because it provides stability and liquidity to the market, others question its legitimacy due to concerns about transparency and its relationship with the Bitfinex exchange. The ongoing investigation by the New York Attorney General's office has further raised doubts about tether's legitimacy.
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• abdi teshomeJan 11, 2021 · 5 years ago
  Tether is a legitimate cryptocurrency in the sense that it is widely used and accepted in the crypto industry. However, its legitimacy has been questioned due to the lack of transparency and auditability. The fact that tether is not fully backed by USD reserves has also raised concerns among investors. It's important for individuals to do their own research and make informed decisions when dealing with tether or any other cryptocurrency.
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• Ryan NystromFeb 13, 2024 · a year ago
  As an expert at BYDFi, I can say that tether is considered a legitimate cryptocurrency by many in the industry. It has been widely used as a stablecoin and has provided liquidity to the market. However, it's important to note that tether's legitimacy has been questioned in the past, and investors should exercise caution when using it. It's always a good idea to diversify your holdings and not rely solely on tether or any other single cryptocurrency.
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