Wonder if anyone has had much experience with USDT (USD Tether)! It is obvious that there is not that much about it on the internet when it comes to reviews, experiences and exchange etc. Even on steemit, there are just a few posts about experiences with exchanging from Bitcoin, Eth or steem etc to USD Tether, thus, the need to write this post!
Earlier today, i tried to exchange 300 SBD to USDT. Hahaha, i knew nothing about USDT before today. Admittedly, i acted in a hurry but it's all good!
There is a great chance though, that this money may be lost as that is one thing with cryptocurrencies! Hopefully, this post helps answer some unanswered questions and serves as a guide to other steemians, when it comes to exchanges, cryptocurrencies and USDT and ofcourse, bring an influx of new users to steemit, as this topic is a fairly popular niche in the search engines!
So i basically wanted a pegged cryptocurrency as SBD hasn't been holding at 1 USD.
The aim being; to convert my 300 SBD into a form of pegged cryptocurrency (USDT in this case) and buy steem back, if it goes lower in price!
After some rapid steemit chats, i figured out BitUSD and USDT, were created for the purpose of being pegged to the US dollar, so i wanted to give one of these a shot.
Another thing before proceeding; i wanted to try a decentralized exchange this time, so i went for www.bitshares.org decentralized exchange (
I have not done much cryptocurrency exchanges in my life time!
To circumvent the need to trade on the exchanges, i eventually used the services of 
Note: "USDT exists on
Before going to
1G1pvgd4GhJ1aVdbhxpWyjAK4zx6HCmRYw
Now i went to www.changelly.com to exchange 300 SBD for USDT! I enter the USDT wallet address above as required and completed transaction by sending 300 SBD to
After transaction completion on
Next, i tried to figure out how i can view the USDT block explorer, then i found this url:
http://omnichest.info
Upon typing this "1G1pvgd4GhJ1aVdbhxpWyjAK4zx6HCmRYw" in the search box of http://omnichest.info, you get this:
and this:
Notice that on both screenshots, i circled the word "invalid". On one of the screenshots however, you will actually find "616.35112676 TetherUS" on the bottom right but just underneath this figure, you will also see the word "invalid".
Now i am trying to figure out where the problem lies and if there is any slight chance that i haven't lost the 300 SBD. Besides that, i am trying to figure out where the problems lies, so that i know who to talk to;
During the process of getting a wallet address from bitshares.org, there was an issue with generating wallet addresses! I have a bad internet connection now so i can't get current screenshots from bitshares.org but i manage to save one screenshot:
Although, this screenshot shows BTC instead of USDT, i did get my wallet address under the USDT tab after several attempts.
For most currencies on bitshares.org during the time i was trying to get a USDT wallet address, the word "unknown" was found instead of a wallet address!
Even minutes ago, upon chatting with 
Long story short, i was able to generate a USDT wallet address successfully but one question at this point is, was something broken with
Continuous research and i find that out that a USDT wallet address is similar to a BTC address but their private keys are different, so i visited https://blockchain.info and did a search in their search box using my USDT address and found this:
It does say; "unable to decode output address" though. I wonder what this means but can this be added evidence that i actually got a USDT wallet address from www.bitshares.org?
Do exchanges or bitshares.org in this case, have a database of all the wallet addresses they generate?
Are the wallet addresses generated by them or by openledger in this case; and are these wallet addresses all trackable by bitshares?
I am trying to figure out where the error lies, for instance, did
Do you see this transaction falling back to the
or
Can
If
Why exactly did all these happen?
Even the internet needs this answer but there aren't much resources out there answering this. I was only able to find a related article from reddit.com but it had to do with Coinbase, which doesn't have USDT listed:
https://www.reddit.com/r/btc/comments/45p8ud/friend_who_is_just_getting_into_crypto_currency/
However,
Are they not suppose to know the difference between a BTC wallet address and a USDT wallet address and decline a transaction for "incompatible wallet" reasons?
Infact, what is the difference between a USDT wallet address and a BTC wallet address? Even the internet doesn't yet have the answer and hopefully, we get to answer this!
See the result for the search query; "what is the difference between a btc wallet address and a usdt wallet address?":
https://www.google.com.ph/search?q=what+is+the+difference+between+a+btc+wallet+address+and+a+usdt+wallet+address%3F&rlz=1C1CHZL_enPH732PH732&oq=what+is+the+difference+between+a+btc+wallet+address+and+a+usdt+wallet+address%3F&aqs=chrome..69i57.30066j0j4&sourceid=chrome&ie=UTF-8
Temporary Action
I have sent an email to each of these addresses:
support@openledger.info, opensupport@blocktrades.us, support@changelly.com and support@changelly.freshdesk.com
No final response just yet but perhaps, i have to give it some time
In the meantime though and based on any experience you may have had with this, is there any slight chance that my 300 SBD is recoverable? Leave any form of thought or experience in the comments!
Too, how much do you know about USDT? If this is resolved, is USDT still a currency one can consider to hold? Is there any real problem with it? What exactly were my errors in this case!
One error on my part, is not trying the exchanges with smaller amounts first and just plunging all in!
Your Boy Terry
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