What is Tether (USDT)?
Tether (USDT) is the first Stablecoin cryptocurrency — a Stablecoin refers to a digital asset pegged to a fiat currency or real-life asset. Tether began under the name ‘Realcoin’ in 2014 and was founded by Brock Pierce — Bitcoin’s Foundation Director — Craig Sellars, and Reeve Collins.
Tether is pegged to the US dollar (USD), meaning the coin’s value does not fluctuate based on supply and demand like other cryptocurrencies, such as Bitcoin or Ripple. The value of USDT is maintained with a 1:1 ratio of the USD, which Tether controls in the Tether Reserves.
Many traders opt to purchase Tether because it is a ‘stable’ cryptocurrency and is less volatile. Tether (USDT) is the most significant integrated digital-to-fiat currency in the world and is one of the oldest stablecoins. It is also one of the few currencies that permit the USD to be traded on the blockchain. Due to its stability, Tether is also used by many financial services, providing a speedier transaction process for exchanging and depositing fiat currencies.
Tether (USDT) is one of the many cryptocurrencies available with BTC Markets. We are Australia’s largest and most liquid crypto exchange platform, allowing investors to be exposed to 26 different markets. Our mobile app also allows investors to trade on the go and have instant access to current market fluctuations.
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