Tether (USDT) is one of the most common options for exchange and settlement in the crypto industry. This is the very first and most common stablecoin that appeared on the crypto market. From the moment of its appearance until today, July 3, 2021, the coin remains the leader in its field and occupies an honorable 3rd place in terms of market capitalization ($62,412,965,441) and trading volume.
What is Tether?
Tether is a tokenized version of the US dollar, meaning it is pegged in a 1:1 ratio with the US dollar. It is this relationship to the US dollar that keeps the value of this coin ‘stable’.
The digital currency USDT (United States Dollar Tether) was launched back in 2015. The developers managed to qualitatively implement an innovative idea – to combine the fiat currency and blockchain technology. As a result, the USDT cryptocurrency appeared. This altcoin is converted to USD at the rate of 1 to 1. The Tether blockchain works on the basis of the Omni Layer protocol. Altcoin is backed by fiat currency. This gives users the opportunity to use the unique advantages of digital transactions and conversions without the risk of spontaneous volatility inherent in most cryptographic coins. The developers declare that they regularly conduct audits of the amount of funds in the virtual storage and the status of user accounts. Such a measure is required to control the correspondence between the deposited funds in the vault and the coins in circulation with users. Using USDT also allows you to eliminate additional costs and delays when converting cryptocurrency to fiat and vice versa. Another characteristic of the USDT platform is that developers use an alternative to Proof-of-Solvency, using Proof-of-Reserves.
The undoubted advantages of USDT are:
- A relatively stable exchange rate, which can fluctuate by no more than 2-3%.
- One USDT is equal to one dollar, which is very convenient when conducting transactions.
To describe Tether (USDT), it is often indicated that it is a coin with key features:
- Stability based on providing a fiat currency-to use all the advantages of digital transactions on the blockchain without the risks of volatility;
- Transparency – the amount of reserves is published on the website every day and updated at least once a day;
- Convergence of crypto and fiat currencies due to the simple exchange of the dollar for Tether and vice versa.
Why should I trade Tether?
Why is it worth using the USDT stablecoin and how does it compare favorably among others? Let’s take a closer look:
- In the conditions of modern competition, the development team managed to create a promising, largely innovative project that gave users a lot of convenient and useful features.
- The USDT is steadily improving, and the growth of its demand, popularity and scalability is obvious.
- USDT are not suitable for trading, since the price of the crypto coin is artificially stabilized at the level of one dollar. However, this feature is unique for using USDT in different situations – fast money transaction, anonymous payment for goods/services, storing funds in a crypto wallet, etc.
Where to exchange Tether
You can seamlessly buy or sell USDT on a huge number of crypto exchanges and brokers including:
- Binance – a popular digital asset exchange that often tops the lists of the most secure trading platforms. The funds of the platform users are protected by the SAFU fund.
- Huobi – has developed a multi-level security system. More than 98% of all digital assets are stored using the “cold” method.
- 7b – user friendly crypto broker that supports trading of all cryptocurrencies that have been listed on Binance. Provides handy financial instruments and low fees.
How to exchange Tether using the 7b crypto broker app?
For a simple and convenient purchase or sale of USDT, you can use the services of the 7b crypto broker. The exchange procedure is extremely simple and will not take more than a couple of minutes:
- Download 7b from Google Play to your smartphone.
- Create an account and transfer funds for further trading.
- Choose a cryptocurrency pair, for example, BTC/USDT.
- Enter the desired amount.
- Done! We will do all the required procedures for you. Upon completion of the transaction, the coins will be transferred to your account.
Is Tether a good investment?
The value of USDT is pegged to the US dollar, at a rate of 1 to 1. The US dollar is used as a price indicator around the world. In trading, it is customary to measure prices against the US dollar. Tether is very useful for traders who want to store value in something safe when the market is unstable.
How do I invest in USDT?
You can buy USDT on many crypto exchanges and brokers. It is recommended to use reliable and secure platforms, such as: Binance, 7b, Huobi, OKEx. Create an account, select USDT in the list of crypto assets, select the cryptocurrency you want to buy it with, enter the transaction details, confirm the purchase. Withdraw USDT to a secure wallet, for example, a Tether Wallet.
How to trade Tether for beginners?
For beginners, USDT is an extremely useful asset that allows you to preserve all the advantages of the cryptocurrency, but at the same time avoid their high volatility. To trade on 7b, you need to create an account, go through the verification process (so we can secure your funds), select a trading pair, and place a market order.
How to buy Tether cryptocurrency?
7b crypto broker app is the best place to buy Tether and more than 2000 other crypto assets. Just log in to your account, top up the balance, select the cryptocurrency to buy, enter the required amount, and confirm the transaction.
What is the Tether Blockchain?
Tether is a stablecoin that was created in 2015, and which still occupies a leading place in its sector. The main goal is to preserve the advantages of cryptocurrencies while excluding their volatility.