The Benefits of Tether (USDT)

Tether, an asset-backed cryptocurrency based on the Bitcoin blockchain launched in 2014, has recently made its way into the mainstream. USDT is currently listed as one of five cryptocurrencies offered to customers through Binance, one of the most popular exchanges in 2018. Binance will offer trading pairs of USDT on September 11, 2018, with plans to offer more in the coming months. months. As one of the few regulated cryptocurrencies, USDT offers several attractive features for investors looking for opportunities outside of the standard cryptocurrency offering, and some drawbacks worth considering before making any moves. Below, we will explore both sides and help you decide if now is the right time to enter the string (USDT).

The term stable coin has been coming up a lot lately and there are many cryptocurrencies with the US dollar in their name, but there can only be one stablecoin: Tether. A stable coin is a cryptocurrency that has a value associated with another asset, such as gold or fiat currency. It allows owners to hedge against volatility using robust and transparent blockchain technology. For example, if you have a USDT of $100, you know for a fact that its value will not fall beyond what it was pegged at $1.

In general, cryptocurrencies tend to be very volatile, making them unsuitable for everyday spending. However, stablecoins are based on a blockchain linked to an underlying asset. This means that its value will remain constant or even increase in times of extreme market volatility. If you are worried about investing in cryptocurrencies because you think they may lose all of their value tomorrow, then a stable coin can be a great way to dive into cryptocurrency investing with minimal risk. Since many people mistakenly assume that buying crypto means they can earn money in their sleep (they wouldn’t), something like that would have already eliminated one of the reasons people invest in crypto: interest payments on exploration and mining.

Stablecoins are far from perfect. It can be volatile itself, as well as being protected by other cryptocurrencies that may not hold their value as well. Two major stablecoins have recently crashed: first, the Gemini Dollar token has lost value by 97% for a whole week; Coinbase then removed USDC from Circle due to a glitch as it was trading at $0.50 per token (instead of $1). Both coins have since recovered somewhat, although they remain depressed compared to where they were before the deposit, these issues illustrate some of the real risks in using stablecoins for investing. As with fiat currencies, your money is never completely secure when held in any type of digital account.

One of the main advantages of USDT is that it is stable. In fact, it is a better representation of value than most other cryptocurrencies. It can also be purchased on many popular exchanges, including Bitfinex and Poloniex, meaning you won’t have to worry about converting from another currency. Its main drawback is that it is not widely accepted as a means of payment for goods and services. While more and more merchants are adding support for USDT all the time, there are still a few places where you can physically spend it.