Learn about Tether (Most Stable Cryptocurrency)
Tether (USDT) is one of the most important digital currencies in the world today, not only because it ranks third after Bitcoin and Ethereum in terms of market capitalization, but also because it is the most important stable coin in the world.
Tether has been very popular with investors and entrepreneurs, and is one of the most promising cryptocurrencies at this time.
This is what encouraged us to talk about it, and in this article we will explain everything you need to know about Tether and how to invest in it.
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What is Tether coin?
Tether, or USDT, is a stablecoin, which is a fixed-price coin of $1 and its value does not change at all.
The currency is used by investors who do not like to risk their investments in other volatile currencies, as this currency provides stability in the price.
Tether is used in many cases, for example if you want to profit from sudden price fluctuations, and also profit from trading using the short-term strategy.
It also enables you to trade quickly without waiting for funds to be transferred between banks, as this facilitates the trading process and speeds up the pace of earning.
This coin has achieved many achievements, according to CoinMarketCup, the coin has managed to reach nearly $80 billion in market size.
While the daily market volume has exceeded 50 million dollars, and this already proves that this currency is very popular with investors.
Tether was first launched as a real currency in 2014, and the coin was initially called RealCoin, and later it was launched in the trading markets in 2015.
The original founders of this coin are Brocke Pierce, Craig Sellars and Reeve Collins.
Tether has been well received by traders due to its low risk profile as a stable coin. It is currently priced at $1.00, and imagine that Tether for 7 years has stayed at the same price without any serious fluctuations.
Speaking of volatility; The most volatile rate recorded for Tether was its fall to $0.91 by 10% in mid-2017, and since then we haven't seen any major volatility in the price of the coin, and it has been stable to this day.
How does Tether coin work ?
Tether has become a bridge between digital currencies such as Bitcoin and Ethereum , and traditional currencies such as the dollar and others.
Also, this currency aims to achieve stability in investment operations besides relying on lower transaction fees than other currencies.
This will allow you to invest with less risk, especially since Tether is a stablecoin whose price does not experience wide fluctuations, such as Bitcoin and others.
The greatest example of the effectiveness of this currency is the possibility of exchanging it with Bitcoin, so that according to Investopedia; The exchange between Bitcoin and Tether accounts for more than 57% of all BTC transactions.
This undoubtedly explains why tether is so prestigious among the various cryptocurrencies in the world.
And now we will talk about how Tether works in terms of system and currency burning, as withdrawals, deposits and the rest of their transactions are managed by Tether Limited.
A certain percentage of tokens are burned to keep the currency stable enough to stay at the same price.
The coin is also created based on Omni Layer, a Bitcoin blockchain-based system .
The Tether ledger is maintained on this blockchain, and Tether transactions processed by Omni Explorer can be viewed and browsed.
Is investing in Tether safe?
This question is the most important question in the entire article, as the focus of currency investors is how much the currency is worth investing in.
For this we will talk about whether investing in Tether is safe or not. So read on!
According to CoinMarketCap; Tether hasn't seen any serious fluctuations, as the coin is still at $1.00, and if we look into the analysis, we'll find it worth a dollar and thousandths of a dollar.
Usually the price increases or decreases by thousandths of a dollar, this means that it is impossible for the price to fluctuate significantly or significantly.
As for the price drops, there is nothing to worry about for this coin. Since the coin was launched, the most significant drop has seen the price drop to $0.91, a decline that does not affect investments or cryptocurrency trading .
For this reason, Tether is one of the best digital currencies to invest in. And not only that, but there are many factors that encourage the investor to go through the experience of investing in this currency, which we will explain in the next paragraph.
Why you should invest in Tether
There are many reasons, or rather, the advantages of this currency, which make investing in it an excellent step. which is next:
1. Tether is a stable currency pegged to the US dollar
In general, stablecoins are cryptocurrencies linked to another asset such as the US dollar. They are supposed to have an equal value, with one Tether equal to $1.
And since the price of Tether aims to mirror the same price as the dollar, it is not a cryptocurrency to hold in the hope of a price hike later.
2. Tether can be used to buy cryptocurrencies, transfer funds, or reap benefits
Tether may not be suitable for conventional investment in cryptocurrency such as Bitcoin and Ethereum, but it has many other uses such as buying other cryptocurrencies, transferring funds and also earning interest from coin lending.
3. Price stability on 1 dollar
It is known that the price of Tether is $1.00, and many are wondering why this terrible price stability. The reason is supply and demand. If cryptocurrency prices fall and investors want to sell their more volatile coins, the demand for Tether can increase and the price will go up.
How to invest in Tether coin ?
How do you invest in Tether?
If we want to talk about how to invest in Tether, it means how to buy and sell the currency, and therefore we will need to identify the most reliable and trusted cryptocurrency exchanges , such as: Binance, Coinbas, Kraken and others.
We will talk about each platform separately:
How to buy Tether on Binance
1. Create a free account on the Binance website or app
Your Binance account acts as a gateway to buying cryptocurrencies. But before you can buy USDT, you will need to open an account and verify your identity. Sign up via the Binance app and then sign up via the site using your email and mobile phone number.
2. Choose how you want to buy Tether coin
Click on the “Buy Crypto” button at the top left of the Binance website browsing menu, which will display the options available in your country.
You will find a number of ways to buy the currency, namely:
a. Credit Card: If you are a new user, this is the easiest option to purchase Tether. The Binance platform supports both Visa and MasterCard.
B. P2P Peer-to-Peer: You can buy Tether directly from other users using Binance's peer-to-peer service.
3. Buy Tether
You have 1 minute to confirm your order at the current price. After 1 minute, your order will be recalculated based on the current market price. You can click Update to see the new order amount.
4. Store or use Tether on Binance
Now that you have purchased this coin, you can store it in your digital wallet or simply keep it in your Binance account.
How to buy Tether on Coinbase
1. Create a Coinbase account
Download the Coinbase app and start the registration process. You will need to enter the required personal information and complete the identity verification process to start using the application.
2. Add a payment method
Click on the Payment method box and enter the payment method that suits you. You can use a bank account, debit card, etc.
3. Select Tether coin from the coins list
Search for Tether coin by typing “Tether” in the search bar. When you see Tether appear in the results, click on it to open the purchase interface.
4. Enter the amount you want to buy
Use the number pad to enter the amount you want to spend in your local currency. The app will automatically convert that into a Tether amount and preview it for you to check if you're ready to spend it.
5. Complete your purchase
Click "Preview Purchase" when you're ready. You will see the details of your purchase. Make sure everything is good and then confirm the purchase.
Tether Frequently Asked Questions
1. What is Tether?
Tether, or USDT, is a stable coin, which is a fixed-price currency of $1 and its value does not change at all.
2. What are the uses of Tether?
Transfer between digital currencies.
Earn from sudden price fluctuations.
Profit from trading using the short-term strategy.
Reduce the cost of transferring between cryptocurrency wallets.
Fast trading without waiting for funds to be transferred between wallets and banks.
3. How do I buy Tether?
You can buy Tether using any of the cryptocurrency platforms, such as: BitFinex, Binanace, or others.
4. Is Tether a safe coin?
Tether is one of the safest cryptocurrencies, as its value is fixed at $1, and there are almost no violent price fluctuations.
5. What is the value of a Tether coin?
Tether is a digital dollar, so its value is fixed at $1 a coin.
Thus, we have informed you of the most important information about the Tether currency, its importance and its entitlement as a real investment. If you have an opinion or feedback regarding what is mentioned in this article, we welcome all your opinions in the comments box. And to another meeting with upcoming articles on other digital currencies.
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