Tether Won’t Redeem USD for US Customers. bitUSD To The Rescue!

Suggested Duration: 2 to 5 minutes

The Tether token is ostensibly a market pegged asset that bears a connection to the USD. However, the Tether company has just announced that holders of their token actors in the US will not be permitted to redeem their token at this time “to prevent terrorists and other bad actors from trafficking in Tethers." Tether also asserts that its “terms of service”, give the company the power to refuse service arbitrarily.

BitShares provides an alternative to the use of Tether in the form of bitUSD which is a market-pegged assets (MPA) that is backed by at least 1.75x collateral equivalent of USD.

"The BitShares Decentralized Exchange DEX, puts the security of funds in the hands of the user not a third party. Not only can you use MPAs to avoid the risk of volatility, but you can also avoid the risk of leaving your funds on a centralized exchange that is vulnerable to attackers."