What if Banks let us deposit through USDT ?

[kryptonick 2659]

I think it can happen, nothing is certain or forbidden and if banks accept USDT then perhaps they can allow us to deposit in USDT, take a big fee to change to our currency and be completely happy for this. USDT is becoming very big for the crypto market. The problem is it doesn't run on its own blockchain but uses all the rest.

[Abdul1168782 572]

Yes you are right and it's really amazing if it could happen. Amd in my opinion  USDT  or any other digital currency is allowed to take withdraw from our local bank then it will be beneficial for everyone.

[Amiami 1362]

This is almost impossible, since the denomination that Theter uses is basically the same as that of the US dollar, to even consider the integration of that currency into the banking system, they must have authorization from the US federal reserve and we all know what the US government's position is regarding cryptocurrencies, in addition to giving power to centralized institutions over a currency that unfortunately does not have a backing since proof of the same has never been given would be a catastrophe, many prefer anonymity and use USDT solely as a refuge.

[Mubiflow 1771]

4 minutes ago, Amiami said:

This is almost impossible, since the denomination that Theter uses is basically the same as that of the US dollar, to even consider the integration of that currency into the banking system, they must have authorization from the US federal reserve and we all know what the US government's position is regarding cryptocurrencies, in addition to giving power to centralized institutions over a currency that unfortunately does not have a backing since proof of the same has never been given would be a catastrophe, many prefer anonymity and use USDT solely as a refuge.

@Amiami well I like your analysis but in my own opinion I think Bank might not allow it for now is due to the fact the cryptocurrency is still the not very stable and trusted source of investment and exchange of good and services but I think on the nearest future where the cryptocurrency have claim its dominance it will be possible

[jappy 1129]

On 11/12/2020 at 10:18 AM, Bond07 said:

In crypto world, USDT  is the best stable coin and it is almost equal to USD ( United States Dollar). We can't ignore bank because of crypto world as we also need it to control our fiat money. If banks include the crypto USDT in their currency list besides the USD, we can easily take money in our nearest bank and make withdrawals through banks ATM Cards. This will also be helpful for banks owners because they are getting more capital easily. If Erc20 usdt can't be added due to the high fees and transaction time, they can add Trc20 USDT because it is very fast and we don't need any transaction fees. What about your opinions friends? Doesn't my thoughts deserve a love from you?

I wish it were like that to avoid transaction fees and very useful for all of us, it would benefit us all, even for banks to include crypto on their platforms.

[pablomarwan 3082]

This is important information. She told us some things that are on our side. The usdt currency is a stable currency that you can rely on in difficult times. Whatever transactions are not truncated a lot. The name is similar to real currency usd and even the price is the same. This is why it looks like a special currency to me. It will show in the future how you can exploit it.

[Mella 3680]

Are you use tether in any way? I am only use this to trader and usually trade altcoin in btc and not in usdt. I am not think this is allowed for banks, it means nothing to them as a token that is run by a company that is Tether.

[annayks 2314]

Not happening as banks don't have the infrastructure or ways to educate their employees on tether. They could accept any time though and employ experienced people as clearly it takes some time ot learn everything and the current employees would have no idea about tether or ethereum, omni and the rest blockchains.

[bogdanoff 3173]

I don't care about banks or USDT they can do what they want, both are centralized and tracked. I prefer cencorship resistance money that only comes with some cryptocurrencies that are decentralized.

[KHALED ADWANI 1216]

This is a great idea and it will save us a lot of time
When I want to convert cryptocurrencies into paper, I have to look for a broker every time and wait for the money to be transferred, and some of these may be fraudulent and cause a loss for me.

[percare 3192]

On 11/12/2020 at 4:18 PM, Bond07 said:

Trc20 USDT because it is very fast and we don't need any transaction fees

This could happen as it is like you said, with Trc20 USDT the speed is instant and the transaction fees are zero for a few transactions, although it needs a very small fee after five free transactions daily, if I recall. Banks should see this as a solution that will increase speeds and interoperability between their systems with blockchains.

[Brushless4500KV 4214]

It is in favor of banks if they activate USDT deposit function because Tether is the most famous stable coin and is among the most widely used crypto in the world according to official statistics. Each year, thousands of traders convert their profits to UDST for keeping value. If banks get involved in Tether, they will receive lots of new customers who are seeking to find a safe place to store their Tether coins. Banks should also offer a service for converting UDST to USD to make it easier for their customers to turn their coins into cash if necessary. But this requires a smart contract between Tether Limited and banks.

[abd1992 960]

On 11/12/2020 at 4:18 PM, Bond07 said:

In crypto world, USDT  is the best stable coin and it is almost equal to USD ( United States Dollar). We can't ignore bank because of crypto world as we also need it to control our fiat money. If banks include the crypto USDT in their currency list besides the USD, we can easily take money in our nearest bank and make withdrawals through banks ATM Cards. This will also be helpful for banks owners because they are getting more capital easily. If Erc20 usdt can't be added due to the high fees and transaction time, they can add Trc20 USDT because it is very fast and we don't need any transaction fees. What about your opinions friends? Doesn't my thoughts deserve a love from you?

Yes, this is a good thing. Everyone will be able to withdraw their encrypted money through the bank or electronic cards. This matter will save a lot of fatigue.

[zhoutong 2188]

It could be interesting to see this an you have selected a very fast blockchain that would solve most problems as Tron does that fast and very cheap. I see this to be a great solution for having a stable coin between the two ecosystems.

[Sykkuno 2887]

Banks are adopting cryptocurrencies but this is going slowly, we have heard some news about custody services, trading desks and investment banking in crypto but nothing actually happned yet and I am wondering why they are stalling so much. Tether could help to make fast transactions between crypto and banks and banks can use this a lot.

[Smallingcane012 344]

If the  bank allows the members to deposits through the accounts we Will be happy because we knew that we have get improvement.

[cryptovlek 2597]

I don't know why this would be important though, you could sell your usdt to your local currency and withdraw to your bank with small fees. Perhaps you won't need to withdraw at all as cryptocurrency adoption is on the rise and soon you will be able to buy anything near you using them.

[yonkii 3205]

Banks probably will not have any deals with crypto in this way. The market already has many of the scammers that did pump and dumps and scams similar to the Wolf of Wall Street movie and banks will do the same but in a legal way. 

[Smallingcane012 344]

Let us deposit through usdt if is in favour of us but if it can not favour us we should leave it and look for another alternative.

[Nicole018 4548]

This is a really thoughtful post. Usdt if the closest cryptocurrency to fiat currency in terms of US dollars and it definitely has a huge correlation with the value of US dollars. Show the central banks accepting this cryptocurrencies along with its fiat currency could also be a really good progression for users to use in their transfer of funds.

[Ridam 7455]

This would be great for all people working in Crypto field. Instant Crypto to fiat would be awesome if banks starts accepting usdt. Right now there are many banks coming for the Crypto adoption and we aren't that much far from start of deposit of Crypto directly in banks.

If you like to withdraw to bank right now then exchanges may help you doing that. Like Yobit exchange, you can withdraw your Crypto Currencies directly to bank incase if you like.

[Cryptomint 433]

Yes it will be really helpful for everyone and we can get many benefits from them like you have mentioned the benefits of this action...

[celeste10 251]

The usdt has undoubtedly called more people to this field of cryptocurrency because being stable this currency allows you to sustain your investment when the market is bearish and this is very positive because you always have to have an option to keep your money safe.

[lilisbet18 231]

Exactly, this is a good point, my friend, I believe that financial institutions should in any case be able to update themselves and understand that the world is changing and this is one of the changes that will come in the future.

[lari0695 13]

I believe that if that happens, it would cause a lack of control with the cryptos at the moment of making operations in cryptos, since many people could get to trust more in an exchange than in the same banks and this would cause problems to the banks of handling little money, for that reason I believe that the banks do not do it.