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The Tether:USD rate is not the only factor you must consider, particularly because of how thinly traded it is. The more important metric is comparing what it c
by zaroth 7y ago
The Tether:USD rate is not the only factor you must consider, particularly because of how thinly traded it is.
The more important metric is comparing what it costs to buy BTC on Coinbase with cold hard USD, and what it costs to buy and then transfer out BTC with Tether anywhere else.
If you can buy large quantities of BTC with your Tether at close to the USD:BTC rate, then you can exit your Tether holdings at or close to the effective peg.
- notyourday 7y agoThat's sea shells being traded against rocks. For Tether not to be sea sells ( or rocks ) this trade needs to have a very low difference between X and Y: Start send X from a bank account USD to trading spot. Do USD->Tether->BTC Immediately follow up with: Take BTC received and do BTC->Tether->USD (Y) => fire to the bank account