"Starting Today Thursday April 22, transfer USDT into your Coinbase Pro account ahead of trading. Support for USDT will generally be available in Coinbase’s supported jurisdictions, with the exception of New York State. Trading will begin on or after 6PM Pacific Time (PT) Monday April 26, if liquidity conditions are met. Please note that Coinbase only supports ERC-20 USDT running on the Ethereum blockchain." https://blog.coinbase.com/tether-usdt-is-launching-on-coinbase-pro-3a1353060e41
I prefer USDC and DAI myself but there is 4x more USDT in circulation than USDC. Pretty good move on CB's part to open up to the most liquid stablecoin in existence. Unless you have proof, then whatever you're hinting at is just unsubstantiated fud.
One thing I haven't really wrapped my head around is the whole stablecoin thing. I don't understand why anyone would want to own those things. The whole point of cryptos in my opinion is investing in a disruptive, decentralized concept/technology that has a novel use and better investment case than traditional fiat-based currencies that are tied to rocks dug out of the ground. Why would I want to take my fiat and transfer it to an exchange only to buy a stablecoin that tracks with a fiat currency? It sounds fucking ridiculous... I just don't understand this concept at all and I'm being dead serious. So someone please enlighten me.
just a scam under pretence of being cheaper and easier. Most cryptos are traded in stable coins, only 20-25 percent of volume in fiat. This alone makes all Pricing levels a joke. Wish I was not as stubborn and participated in this joke. Sometimes too much thinking is not good for ones wallet.
It makes it more easier to transfer money between exchanges that don't have USD but only USDT since USDT is more common among centralized and decentralized exchanges.
The OP is great news! It means USDT is now a valid stablecoin in the US regulated exchange Stablecoins are like money market, they are bearer assets like any cryptos, so for example, I can sell my btc at Binance or a defi dex withdraw to my wallet 50K USDT, now, I can transfer that to Coinbase Pro and trade other cryptos Stablecoins earn a high interest in a defi platform such as AAVE or in a cefi platform like BlockFi Stablecoins are the preferred currency than fiat, where a US wire transfer takes days while stablecoins take minutes and the fees are relattively lower Stablecoins can be used in cross-border transactions or exchanges, so some merchants are able to settle invoices from 2 different countries
The stablecoin space has evolved from a single fiat backed stablecoin into this huge sector with tons of variation and experimentation. It's way too deep and complex to dive into all of it but here's a summary based on my experience. Fiat collateralized, fully collateralized, fiat pegged, centralized (USDT, USDC, BUSC, and more): Stablecoins are attractive because it turns fiat into a crypto-native asset and allows for low friction crypto<->crypto markets. In addition to that it's required in places like Ethereum where dollars must be wrapped in an ERC-20 token if they want to live on the network and be used in DeFi. Crypto collateralized, over/fully collateralized, fiat pegged, semi decentralized (SAI, DAI, sUSD): This takes the above tokens and improves on them by decentralizing the token and diversifying the collateral. Partially/non-collateralized, fiat/non-fiat pegged, fully decentralized (FEI, FRAX, AMPL, ESD, and more): This space is the most nascent and has the most experimentation and innovation happening. The golden standard stablecoin is one that is fully decentralized, trustless, partially or fully collateralized by assets that themselves are fully decentralized, and can be pegged to any asset or basket of assets. I don't think we're there yet but I also wouldn't bet against the geniuses working on this stuff.