United States Dollar Tether is the first and most popular stablecoin on the crypto market, a fixed price crypto token pegged to the fiat, in this case the US dollar. USDT was released in 2014 by Tether Limited.
he project began under the name ”Real Coin”. The Tether cryptocurrency was based on the Bitcoin blockchain using the Omni Layer protocol. But then the developers gradually switched to a more flexible and modern Ethereum platform. According to the initial idea of the developers, the Tether cryptocurrency was to be pegged to the exchange rate and backed by real dollars. Thus, the stability of this asset will be ensured, and additional reliability is guaranteed, and therefore people's confidence in the USDT coin. Despite the fact that USDT's reserve and issuance system is controversial compared to most stablecoins, USDT still offers the longest history of performance and the highest solvency.
Evry 1 USDT must be backed by 1 USD in Tether Ltd.'s reserve balance. Accordingly, the answer to the question of what is tether price live is very simple: the USDT to USD rate should be 1:1. The coin is not mineable, which means that USDT can only be issued after fiat funds have been deposited. This contradiction to the nature of digital assets is explained by the main purpose - the intermediation between real and virtual assets. The maximum emission of coins is limited only by the amount of fiat funds deposited into the accounts of the issuing company. And the tether usdt value for now approximately is 71 Billions dollars.
Tether bridges the gap between crypto and fiat currencies. Investors can trade in the US dollar without experiencing the problems associated with the volatility of conventional cryptocurrencies. With confidence in stability, investors can own a digital asset similar in properties to fiat currencies, yet easily trade other coins in cryptocurrency markets as tether current price is always equal to 1 USD. Key features of Tether make it a popular coin, although it is not immune to risks.
You can buy USDT on almost any exchange. Binance and Poloniex have significant trading volumes for USDT, and the most trusted wallets that support Tether are Holy Transaction, Omniwallet and Ambisafe Wallet. Of course, Tether has its own official wallet called Tether Wallet, but recently it has been blocking new users from registering for unknown reasons. Therefore, cryptocurrency exchanges remain the most common way of storing USDT, because if you look at tether coin graph the price from last 5 years didn’t change higher than 10 cents in 2017 which means it hard to make money with this coin, but still it good currency to reduce your monetary losses during correction Therefore traders usually use this as a hedging mechanism during trading. On indusCrypto you can use Tether as your base currency and make use of your own TradingView trading script, set up a crypto copy trading functionality and follow traders in our public Marketplace, or create powerful crypto trading bots that will never sleep. Join now!