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not sure if this counts, but there is a direct USDT/USD trading pair on Kraken https://trade.kraken.com/markets/kraken/usdt/usd https://trade.kraken.com/markets
by cdiddy2 8y ago
not sure if this counts, but there is a direct USDT/USD trading pair on Kraken https://trade.kraken.com/markets/kraken/usdt/usd https://trade.kraken.com/markets/kraken/usdt/usd
- wmf 8y agoThe problem with that market is that you're just handing off USDT to another sucker. There's no official way to take USDT out of circulation when demand goes down.
- cdiddy2 8y agoUnless that customer is Kraken itself who may be able to redeem the USDT for USD. The market cap for tether went down 750 million recently so there appears to be some way to take it out of circulation. https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/
- pstrateman 8y agoWell yeah that's the obvious way to make money running tether. Demand drops and the value of 1.00 USDT drops below $1.00, redeem the USDT yourself and profit on the spread.