Tether Price USDT

    About Tether

    The USDT or Tether is an exclusive block-chain based digital currency whose circulating a comparable amount of U.S. dollars supports tokens. It is defined as a stablecoin (stable-value digital currency) and is the product of Tether, a Hong Kong-based company. It was released in 2014 as RealCoin and later rebranded to Tether' by the Tether Company, an organization reputed for maintaining the fiat currency reserve amounts.

    How it works

    The objective of the USDT asset is to combine the general characteristic of cryptocurrencies (transferable between users without needing trusted third-party intermediaries) with the U.S. dollar's stable value. Tether was designed to establish a bridge between cryptocurrencies and fiat currencies while offering users transparency, minimal transaction costs, and stability. The currency maintains a stable 1:1 ratio in value with the U.S. $. Tether's pegging to the U.S. $ is accomplished by maintaining an amount of cash, fiduciary deposits, commercial paper, treasury bills, and reserve repo notes in reserves equal in USD value to the total USDT circulating in the market. Even so, Tether Ltd is yet to offer any substantial guarantee that Tether can be exchanged for real cash or that it has any redemption rights.

    What is a Stable Coin?

    A stable coin is a digital coin whose value is linked to a fiat currency. See, most cryptocurrencies are created to serve as a medium of exchange and a store of value. However, even prominent cryptos like Bitcoin are subject to large price volatility due to their modest market capitalization.

    Usually, the smaller a market cap an asset has, the more volatile its price will be because it's affected by everyday buy and sell activities on the market. This makes it difficult to use volatile cryptos for day-to-day transactions when they are worth "X" one day and a quarter that the next.

    And that's where stable coins come in. Stable coins provide the benefits of cryptocurrencies (fast sale and fewer regulatory hurdles) along with the stability of fiat money. They are meant to be used as a medium of exchange in day-to-day transactions, but their use is limited since they are not yet popular.

    They are mainly used in crypto-only exchanges by traders. Swapping volatile cryptocurrencies for USDT to retain dollar value when the price of a volatile coin falls is a popular activity on crypto-only exchanges that don't supply users with options to exchange volatile coins for fiat money due to regulation. Later, when the trader wants to get back into the game and hold the volatile coin, a simple swap of USDT for the volatile coins is all that's needed. They also make it easy to move funds between exchanges.

    What is the difference in USDT and USDC?

    Another stable coin is USDC. It's priced at $1. Coinbase and Circle were the first to launch it in 2018, and it is thought to be better controlled than USDT. It is overseen by the Centre consortium. It has a market capitalization of $42 billion, which places it behind USDT. In comparison, it provides more open audits and funding methods than USDT.

    Release Time: 2014-07-01

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