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What is Tether (USDT)?

One of the most extensively utilised stablecoins is Tether (USDT). Tether is a cryptocurrency that serves as a link between crypto and fiat currencies. It provides investors with a straightforward way to exchange USDT for USD without the inherent volatility of other cryptocurrencies. Tether was founded in 2014 by bitcoin investor Brock Pierce, entrepreneur Reeve Collins, and software engineer Craig Sellers. USDT was first issued on the bitcoin protocol’s Omni Layer, but it has since been moved to other blockchains. Tether is currently available on a number of blockchains such as Algorand, Ethereum, EOS, Liquid Network, Omni, Tron, Bitcoin Cash’s Standard Ledger Protocol, and Solana and its trading volumes and liquidity have surged in recent years.

USDT, like other stablecoins, is ideal for cryptocurrency trading since it eliminates the market volatility that BTC and other crypto assets are known for. Stablecoins also eliminate the extra fees and delays associated with transitioning between crypto and fiat currencies.

Stablecoins eliminate the need for traders to swap fiat currency and crypto multiple times which have brought a lot of ease to the crypto trading sector. As a result, having USDT on hand when trading cryptocurrencies is advantageous.

While there have been some questions about the reserves’ authenticity, the volume in recent years demonstrates that Tether’s value as a stablecoin is valued.

Vaishali Goel
Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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