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Nairaland Forum / Nairaland / General / Investment / USDT Is Not The Same As US Dollar (29958 Views)
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Re: USDT Is Not The Same As US Dollar by Kenneth4u205(m): 10:55am On Feb 23 |
Foolish op . So why did TINUBU ban binance if USDT has nothing to do with dollars?. And for your information there is crypto ATM card which you can use for shopping or even withdraw money from any ATM machine. Here in south Africa ,we shop with crypto ATM Card and wallet balance. USDT is the same with physical dollars . But it's a digital currency. Same way that the Bank transfer you send to your girlfriend is also a digital Naira 8 Likes 1 Share |
Re: USDT Is Not The Same As US Dollar by VinCheckr: 10:57am On Feb 23 |
Government sponsored post. 19 Likes |
Re: USDT Is Not The Same As US Dollar by SonofGod231: 10:57am On Feb 23 |
You're right but Only a novice wld mistake USDT for US Dollar bro. 1 Like |
Re: USDT Is Not The Same As US Dollar by kingar(m): 10:58am On Feb 23 |
USDT is a stable coin my brother |
Re: USDT Is Not The Same As US Dollar by oladele239(m): 10:58am On Feb 23 |
SenecaTheYonger: You're absolutely wrong , many car dealers and many business owners I know transact in usdt... A friend still bought a car of 4m with usdt recently! That you don't use it doesn't mean it's valueless!!! 17 Likes 2 Shares |
Re: USDT Is Not The Same As US Dollar by Enceladus(m): 11:00am On Feb 23 |
IduNaOba: One is backed by a country and the other is backed by a shady company that won't even let its books be audited. 4 Likes |
Re: USDT Is Not The Same As US Dollar by GreaterFuture(m): 11:00am On Feb 23 |
Ok... |
Re: USDT Is Not The Same As US Dollar by Valuepaints20(m): 11:01am On Feb 23 |
Re: USDT Is Not The Same As US Dollar by PepeXKermit: 11:01am On Feb 23 |
NigerianEagle: Werey, usdt as an orfanization holds alot us bond, if they crash, us economy will crash too.. Do kwoon had a stable coin that was pegged using algorith and not the physical dollar. Usdt has been here since 2015 and una think say na beans? 2 Likes |
Re: USDT Is Not The Same As US Dollar by Enceladus(m): 11:02am On Feb 23 |
Nigerians are the source of their problem. Let's keep pumping more money into USDT (a fake money) which will motivate aboki's to increase the value of the real-world money. We go cry wolf tire in this fucking country. 6 Likes 2 Shares |
Re: USDT Is Not The Same As US Dollar by dvkot(m): 11:03am On Feb 23 |
NigerianEagle:even if we convert our money to Bitcoin it would still have the same effect. The problem of naira is not binance.. 3 Likes |
Re: USDT Is Not The Same As US Dollar by RapistOnBail: 11:03am On Feb 23 |
SenecaTheYonger:Some of us get paid using USDT from our Yankee clients. The USDT dey boost Economy on a low. 2 Likes |
Re: USDT Is Not The Same As US Dollar by Bfly: 11:04am On Feb 23 |
How is this your problem? Tell it to your immediate family members if you really care as much as you appear. |
Re: USDT Is Not The Same As US Dollar by Justinlean02(m): 11:04am On Feb 23 |
Judithjovial:Like someone rightly pointed out on a previous crypto thread "Ignorant peope full this forum" 1 Like
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Re: USDT Is Not The Same As US Dollar by VeeVeeMyLuv(m): 11:04am On Feb 23 |
oladele239:Like play like play before their very eyes, these digital coins would takeover Leave him He doesn't know that these digital currencies are currently a threat to the global financial institutions The central banks the world over are all jittery. 2 Likes |
Re: USDT Is Not The Same As US Dollar by ShenTeh(m): 11:05am On Feb 23 |
Nigerians with our 'too-know' mentality will come and attach the op now and still cry to God to punish the person that defrauded them after gleefully refusing to heed the warning. Thanks op. 1 Like 1 Share |
Re: USDT Is Not The Same As US Dollar by PepeXKermit: 11:06am On Feb 23 |
SenecaTheYonger: You sound dumb...go and really research what is backing the usdt currency.. US govt debt. You think usdt will crash now america economy go still dey stand? Una dey funny. 2 Likes |
Re: USDT Is Not The Same As US Dollar by richard870(m): 11:09am On Feb 23 |
NigerianEagle:You should do more research because many websites/businesses accept USDT as a form of 'digital dollar'. You can check hostinger (a popular web hosting company) for reference regarding use-case because it is accepted on the site and a host of others. 2 Likes |
Re: USDT Is Not The Same As US Dollar by Tugee: 11:09am On Feb 23 |
NigerianEagle: How does converting Naira to USDT put pressure on the naira or the USD? Currently I believe Nigerians have at least $10Bn stored up in USDT, imagine if all that desperate demand went to the parallel market for actual USD, what do you think would be the value of Naira today compared to the dollar 10 Likes 1 Share |
Re: USDT Is Not The Same As US Dollar by RickyJesus: 11:09am On Feb 23 |
Kimcutie:Who stops them? |
Re: USDT Is Not The Same As US Dollar by twosquare(m): 11:12am On Feb 23 |
...lots of ignoramuses on this thread...keep wallowing in your poverty while we keep cashing out By the time you wake up, it would be too late. 4 Likes |
Re: USDT Is Not The Same As US Dollar by Artscollection: 11:12am On Feb 23 |
SenecaTheYonger: You can convert it to fiat oga!! 2 Likes |
Re: USDT Is Not The Same As US Dollar by jumper524(m): 11:13am On Feb 23 |
SenecaTheYonger:the fact that some people have as much as 100 million usdt should bring some people brain to factory reset. investing 100million to a coin thats not really feasible and not a legal tender anywhere. |
Re: USDT Is Not The Same As US Dollar by inoki247: 11:14am On Feb 23 |
Bluearrow: Lol Ghana currency already went through what we are going through now around 2022 when GHS went up from 6 cedis to almost 15 cedis to a dollar.... Them jus see am stabilize for the 12 range wey he dey now... Usdt isn't the cause of currency fall buh saying one country currency isn't falling is what I'm trying to clear you.... And if you doubt the Ghana own you can ask dere citizen.... |
Re: USDT Is Not The Same As US Dollar by Nigga44: 11:15am On Feb 23 |
Government agent. Everything is backed by trust. Even the naira in your hands is backed by trust. It's the trust you have in your govt that makes you to be believe in the naira. Since the US pulled out from the gold value, the dollar has always been backed by trust. Tinubu can wake up today and print more money into the system. Nobody knows how much naira is in circulation. But at least we know how much usdt or BTC that'll ever be in circulation. At least we can look at smart contracts and know that no one can wake up tomorrow and start minting more usdt or BTC like a mad man. We know that usdt is not not actual Usd, but how come it can easily be converted to USD anywhere in the world. And for your information, it is not only acceptable in the crypto landscape. A lot of merchants accept it worldwide cos of it's ease of conversion and the elimination of middle men banking thieves! You can use an ATM to withdraw it into actual Usd anywhere in the world. And please don't compare it to Ust. Many people knew that Ust was backed by just algorithms and bound to fail. Many smart YouTubers made videos warning traders many months before the crash. If the backers of the naira (Nigerian politicians) are to be trusted that much.......why has the naira been falling like crazy for many years now :- Nothing actually has value in this life except people give it a perception of value. 17 Likes 3 Shares |
Re: USDT Is Not The Same As US Dollar by Acidosis(m): 11:15am On Feb 23 |
You know, I have been an ardent opponent of cryptocurrency, but just look around you today. Look at the rich and wealthy individuals between the ages of 25 and 45. How do you think they made their fortunes? This isn't solely about Yahoo boys or not. The world has evolved, and if you continue to focus solely on the morality and moral benefits of crypto for everyone, you may grow old with nothing to show for it. There is no policy in the world that benefits everyone, not even the Covid-19 vaccine. So, if you keep waiting for one, you'll wait forever. To my main point, I was about to graduate from school when Bitcoin gained a little prominence in Nigeria. Many people didn't understand it, and many weren't interested (I never showed interest too). Today, one Bitcoin (which used to be less than N10,000 in 2011) is now worth N98,000,000. Once again, look around you. This is how many of the youths around you became wealthy. You may continue to criticize them, while hoping the government will make you rich, but the reality may be different. The government only "cares" about the poor, and even then, no government in the world has been able to eradicate poverty. As a graduating student in 2011, I was making clean N10,000 in 1-2 weeks. Imagine "investing" a little sum of that money in Bitcoin. Well..... If you are not going to steal, just follow the "new" money or new ideas that do not seem to make sense to all. At the end of the day, you may lose, but at least you tried. Just make sure you are following a new invention. People who bought huge shares at Nvidia and Netflix when these new generation companies were barely known have suddenly become multi millionaires in dollars. That's how the world works. Whether you like it or not, your Naira will make people rich in USDT just as the time you spent on Netflix will make the shareholders extremely rich. Nothing favours everyone equally. Ire o...! 27 Likes 6 Shares |
Re: USDT Is Not The Same As US Dollar by Obanaijacom: 11:16am On Feb 23 |
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Re: USDT Is Not The Same As US Dollar by BigYash: 11:16am On Feb 23 |
dvkot:Help me ask am o.. 1 Like |
Re: USDT Is Not The Same As US Dollar by faceland: 11:17am On Feb 23 |
NigerianEagle: The cryptocurrency mafia name the coins intentionally to fool people. It is risky to carry real money, to buy magical digital money. |
Re: USDT Is Not The Same As US Dollar by Tyche(m): 11:17am On Feb 23 |
An uncomfortable percentage of my net worth is in USDT, and I still convert at any drop, like the drop to N1369 /$. Only a fool will listen to paid write-ups like this. Your post is riddled with half truths and mis-informations 3 Likes 1 Share |
Re: USDT Is Not The Same As US Dollar by Realmrsean: 11:20am On Feb 23 |
Bro usdt has tested the market be it bears and bulls and never has it failed.. Usdt is backed by dollar and they have been audited by many auditing companies.. Individuals and some organizations accept usdt as payment, Crypto in general is gradually going mainstream and soon will be widely adopted.. It's not only Nigeria that uses usdt, other countries and currencies are also traded / USDT.. If you want to value of naira to gain, then start from your greedy gorverment and politicians, leave ordinary people to make their ends meet in crypto in peace.. Thanks 6 Likes |
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