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Ah so in theory I should be able to ask the USDT foundation for a dollar and they should be able to give it to me?

• NhanH 4y ago
  Yes, https://tether.to/en/transparency https://tether.to/en/transparency
  • irjustin 4y ago
    Right that's what they say but how do I or anyone else redeem that? Otherwise there's no need for physical backing right?
• charcircuit 4y ago
  USDT is the worst in this regard since you have to deal in massive volume. The minimum withdrawal is $100k and fee on that is the greater of $1000 or 0.1%. https://tether.to/en/fees/ https://tether.to/en/fees/
  • zarzavat 4y ago
    That seems like a fair policy to avoid getting DDoSed by withdrawals in periods of high demand (i.e. bank runs). Presumably they mainly intend to serve exchanges which are doing withdrawals in the $millions. Not defending their other practices.
• abzolv 4y ago
  No. See my comment here https://news.ycombinator.com/item?id=31352602 https://news.ycombinator.com/item?id=31352602