Tether Price Chart
Tether - USDT Profiles
Cryptocurrency is constantly in the news as well-known financial institutions and companies add Bitcoin to their balance sheets. In recent times, the less volatile assets within cryptocurrency — stablecoins — are also making their way onto investors’ radars. The largest stablecoin by market capitalization is Tether (USDT).
What is Tether (USDT)?
Tether (USDT) is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner. Tether works to disrupt the conventional financial system via a more modern approach to money. Tether has made headway by giving customers the ability to transact with traditional currencies across the blockchain, without the inherent volatility and complexity typically associated with a digital currency. As the first blockchain-enabled platform to facilitate the digital use of traditional currencies (a familiar, stable accounting unit), Tether has democratised cross-border transactions across the blockchain.
USDT has been integrated into various platforms such as Bitcoin Blockchain, Ethereum, Tron, EOS, Liquid Network, Omni, Binance Smart Chain, etc. Buying, selling, and hoarding USDT is therefore simple and quick.
What does Tether (USDT) do?
The technical structure of Tether is that it is based on the Omni Platform. The platform provides the foundation from which various digital assets are supported. The stablecoin’s built on Bitcoin (BTC) and Ethereum (ETH) blockchains.
Tether exists as a 1:1 currency peg for the US Dollar, Euro, and the Offshore Chinese Yuan. These fiat currency-backed stablecoins are essentially digital tokens that represent the value of their underlying assets.
They function just like their other cryptocurrency counterparts and move value on their respective blockchains.
Speaking of blockchains, Tether tokens operate on the Bitcoin (Omni and Liquid protocol), Ethereum, EOS, and Tron blockchains.
Tethers existing on these blockchains are like applications that leverage the open-source software of these decentralized networks for the supply and issuance of tokenized real-world currencies.
Purpose of Tether (USDT)
Make it easy for consumers to pay for currency transactions between different countries, replace current transaction payments and audits of unstable wallets.
Provide evidence of the reserve steps, easily query the transaction payment number by the check appearance. The total amount of USD into the reserve is also proven by checking the balance with the bank balance.
How to buy Tether (USDT)?
Tether is available to purchase on Liquid. You can also use the Liquid exchange to store your USDT. Liquid supports a variety of fiat-backed stablecoins such as GYEN, ZUSD, XSGD, USDT, USDC, IDRT. These stablecoins are key components of Liquid’s Stablecoin Exchange initiative, which will provide Liquid users a service to lend and borrow stablecoins and trade synthetic FX pairs 24/7 using credible, fiat-backed stablecoins.