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> There's no way to transfer USDT into USD. The few exchanges that say they offer withdraws actually don't if you go and try. So what actually happens when peo
by mcintyre1994 6y ago
> There's no way to transfer USDT into USD. The few exchanges that say they offer withdraws actually don't if you go and try.
So what actually happens when people sell Bitcoin? They get USDT on an exchange and then can never get cash out? Is there some convoluted series of trades you can make from USDT -> ??? -> USD or something instead? And people selling Bitcoin have made enough profit to just ignore the overhead of those trades I guess?
- T0Bi 6y agoOP got that wrong. It's very simple to exchange USDT for USD, you can do it on Kraken and Binance and withdraw to your bank account. No problem at all
- kevingadd 6y agoIsn't that trading, you're selling USDT to someone who wants to give you USD for it? That's different from telling the operators of Tether itself "Here's some USDT, give me the USD that backs it".