thetradingparrot
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Is USDT next after XRP? What safe alternatives do I have?
🕑 Added 2020-12-30 00:23:41 +0000 UTC
Guys, USDT has a risk of next month getting under the eyes of SEC and potentially getting also sued. This is not guarantee, it's just a rumour for now. But it's quickly gaining momentum.
If that happened USDT may get also delisted from many exchanges and cause a snow ball effect to the whole market.
Most of us are trading these days on top of USDT. We have been avoiding BTC pairs due to this one being too bullish to trade against any other coin.
I'm moving away from USDT until the situation gets clarified. The question is which base currency is best to consider.
Here are some options, in my order of preference:
1) EUR. Our old friend euro. Supports quite a lot of pairs. Downside: paid signals won't support EUR, so only suitable for trading view signals, QFL, TA, etc.
2) USDC (USD Coin). More regulated and monthly audited by Coinbase. Supports stable coin pairs. Much more likely to guarantee 1:1 value with dollar compared to USDT.
3) GBP. Very conservative option. Doesn't support many pairs.
4) USD. Only available for Binance.us or maybe users of FTX exchange.
I'm personally going to diversify all my USDT to a combination of EUR, GBP and USDC.
Bots that were using paid signals and work only on USDT/BTC I'll move them to BTC but with small amounts.
