Tether is crypto coin that is fixed to the dollar price, so 1 tether is always one dollar. Instead of cashing out you bitcoins to dollar you could simply buy tether and stay in the crypto world without taking care of fees and taxes.
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You gotta take the risks of holding your coin at BItfinex to mess with Tether.
Bitfinex like many exchanages past & present have significant risks. Here's the latest interesting bit of reading about 'finex.
https://medium.com/@bitfinexed/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4?source=linkShare-89b4ba3f2b62-1502043610
hmm right, what about steemdollar? You can keep them in your wallet and they kinda work the same way.