What is Tether (USDT)

Tether is a stablecoin cryptocurrency that is hosted on the Ethereum and Bitcoin blockchains, among others. Its tokens are issued by the Hong Kong

Cryptocurrency investors and traders are very familiar with terms like Bitcoin, Ethereum, and Ripple, but may not be as familiar with Tether (USDT). Tether (USDT) is a cryptocurrency that has been designed to have its value based on the US dollar. This means that when you purchase 1 Tether (USDT), you own 1 US dollar. However, the important thing to remember about Tether (USDT) is that it has no underlying value in terms of any official currency; it isn’t backed by gold or other precious metals.

What is Tether (USDT)

Created by the same company behind leading cryptocurrency exchange Bitfinex, Tether was created to facilitate a faster, less expensive way of sending money between cryptocurrency exchanges. Essentially, it acts as a bridge between fiat currencies and cryptocurrencies that are guaranteed by the transparency and security of the Bitcoin blockchain. Users can purchase or redeem tether tokens on the Ethereum network at a 1:1 rate with U.S. dollars through online exchanges such as Poloniex and Bittrex.

Who is the founder of Tether (USDT)

The project was funded in July 2014 by Brock Pierce, Craig Sellars, and Reeve Collins. It is a blockchain-based platform that creates a coin called USDT and uses it to trade between other cryptocurrencies. Its headquarters are in Hong Kong, with offices in many countries around Asia and North America.

Guide to buy!

USDT can be bought on most crypto exchanges. If you’re looking to acquire some, check out Kraken or Binance. Don’t have either of those? You can also buy USDT on HitBTC. The process for each of these exchanges is similar and you should be able to figure it out with a little research. It will likely require that you sign up for an account, verify your identity, and wire funds into your account before you can actually make a purchase.

How to invest in bitcoin

Where do I store the Tether coin?

There are a lot of wallets that support Tether including Coinomi, Tether is integrated into the Coinomi wallet. Any bitcoin holder who is in possession of a Bitcoin private key has access to an equivalent Tether private key, and vice versa. So you may want to consider storing your Tether coin in a Bitcoin wallet like Ledger Nano S or any other wallet that supports the Tether coin.

Why Tether (USDT) is stable?

Tether is backed by dollars held in reserve, meaning that every USDT is redeemable for dollars via Tether. This feature makes USDT appealing to traders because it doesn’t experience price volatility like other cryptocurrencies.

What is the price of USDT?

One Tether is currently trading at $0.999220 USD, according to Coin Market Cap. The 24-hour trading volume is $46,552,257,585. The market cap is $2,763,732,964 USD with a circulating supply of 629,10,6 USDT and a total supply of 629,10,6 USDT. As of October 15th, 2018 there are no working exchanges that trade Tether directly for Fiat money.USDT's current price is

OpenCloseComments