When you expect prices to fall what’s the best way to protect yourself? Is it to turn your coins into tether(USDT)?
I trade with ethereum and up until now I’ve been doing one of the following:
1)Turn coin(s) into ethereum because it’s more stable(theoretically) and wait or
2)Turn coin(s) into ethereum then into ripple, send ripple to Kraken because it’s fast, has very low withdrawal fees and it allows me to trade it for eur/usd directly.
Ripple is very unstable right now though and Kraken is down all the time so it’s a bit of a risk.
If I understand this correctly I can store value on tether and it would be like having dollars. I can’t actually turn it to usd but I will be safe from any price movements until I decide to turn it back to ethereum. Is this how it works or not?