The USDT price update as of now is $1.00. In the previous 24 hours, its trading volume was $69,055,074,748, and its value has increased by 0.02%. As of now, USDT's live market cap is $110,703,276,437, and it is ranked as the #3 on the Coincu. USDT has a circulating supply of 116,055,435,219 and a maximum supply of 116,055,435,219.

What is Tether USD?

Cryptocurrency is frequently featured in the media as well-known financial institutions and companies add Bitcoin to their balance sheets. Recently, stablecoins, which are less volatile assets within cryptocurrency, have also gained attention from investors. The largest stablecoin by market capitalization is Tether USD.

What does Tether USD do?

Tether USD is a blockchain-enabled platform that aims to facilitate the use of fiat currencies in a digital manner. Tether USD disrupts the conventional financial system by offering a more modern approach to money. By allowing customers to transact with traditional currencies across the blockchain, Tether USD eliminates the volatility and complexity typically associated with digital currencies. As the first blockchain-enabled platform for the digital use of traditional currencies, Tether USD has revolutionized cross-border transactions across the blockchain.

Technical Structure of Tether USD

The technical structure of Tether USD is based on the Omni Platform, which provides support for various digital assets. Tether USD is built on the Bitcoin (BTC) and Ethereum (ETH) blockchains.

Tether USD serves as a 1:1 currency peg for the US Dollar, Euro, and the Offshore Chinese Yuan. These stablecoins are digital tokens that represent the value of their underlying assets. They function similarly to other cryptocurrencies and facilitate value transfer on their respective blockchains.

Tether USD tokens operate on the Bitcoin (Omni and Liquid protocol), Ethereum, EOS, and Tron blockchains. These tokens leverage the open-source software of these decentralized networks to tokenize real-world currencies.

Purpose of Tether USD

• Facilitate currency transactions between different countries, replacing current transaction payments and unstable wallets.
• Provide evidence of reserve steps and easily query transaction payment numbers through checks. The total amount of USD in the reserve is also proven by checking the balance with the bank.

How to buy Tether USD?

Tether USD can be purchased on Liquid. Liquid also provides a storage solution for USD. The platform supports various fiat-backed stablecoins, including GYEN, ZUSD, XSGD, USD, USDC, and IDRT. These stablecoins are integral to Liquid's Stablecoin Exchange initiative, which allows users to lend, borrow, and trade synthetic FX pairs 24/7 using credible, fiat-backed stablecoins.

Technology

Tether USD utilizes a proof-of-reserves system to ensure that reserve assets match circulating tokens. This system requires third-party audits of Tether USD's bank accounts to demonstrate that U.S. dollar reserves equal the outstanding tokens. Each USD represents a claim for $1.00 held in Tether USD's reserves, which users can redeem at any time.

On Bitcoin, USD tokens are issued via the Omni Layer protocol, which is built as a layer over Bitcoin to enable token issuance for various assets.

On Ethereum, USD tokens are issued using the ERC-20 protocol standard. ERC-20 tokens have a set of rules that define their transfer, approval, and request functionalities.

USDT Price Statistics

In most stablecoin scenarios, the token's value is pegged to a fiat currency. In the case of Tether USD, USDT is pegged to the US dollar, meaning that 1 USDT is equivalent to $1. Users can choose to redeem their USDT for fiat currency through Tether Unlimited at any time.

Is Tether USD a good investment?

With the introduction of Tether USD and other stablecoins, it has become quick and easy to swap any cryptocurrency for Tether USD. In contrast, converting a cryptocurrency to cash would take days and incur transaction fees. This liquidity provided by Tether USD benefits exchange platforms, offers no-cost exit strategies for investors, and adds flexibility and stability to investors' portfolios.

Furthermore, Tether USD enables fast and low-fee global transfers compared to traditional banks and financial institutions. While Bitcoin and Ethereum may not be suitable for everyday transactions due to their high volatility, Tether USD is a more practical choice.

For these reasons and more, it is still worth considering investing in Tether USD. Although Tether USD itself does not necessarily generate long-term growth as it remains pegged to the U.S. dollar, there are lending platforms, exchanges, and wallets that offer high-interest rates for storing USDT.