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TETHER – What Is TETHER – How It Works – TETHER Review
If you want to know what Tether is, then you are watching the right video. We will explain in understandable language how it works and why Tether now occupies a leading position in the cryptocurrency rating. If you want to know how people make millions of dollars with it, and why this cryptocurrency is so popular, then watch our video to the end. Don’t forget to like it and watch our other videos. We’re starting, there will be many interesting things!
Tether is the world’s most popular stablecoin. As such, it serves multiple purposes in the market, making it the main cryptocurrency in many investor strategies. While it’s impossible to imagine the cryptocurrency market without Tether, it wasn’t always this way. The Tether project caused a lot of controversy and took first place.
Tether is currently helping to provide liquidity and hedge against market volatility. It can accomplish this task because it is known as a stablecoin.
Stablecoins are blockchain tools whose value is tied to external commodities.
The benefits these coins bring to the market are undeniable. Firstly, their stability helps to reduce the volatility of cryptocurrencies in general. Investors rely on stablecoins as a way to avoid bear markets without converting funds back to fiat currencies.
In most stablecoin scenarios, the value of the token will be pegged to the fiat currency. In the case of Tether, USDT shares its value with the US dollar. Basically, $ 1 is worth $ 1. In addition, anyone can redeem their $ 1 of fiat currency at any time through Tether Unlimited.
Tether is the first company in the world to create a platform where it combined the functions of cryptocurrencies and fiat. The Tether project works on blockchain technology, the Tether developers took the Bitcoin blockchain for their project, so it is completely protected.
The history of Tether begins with the Realcoin project. Realcoin entered the market through its whitepaper in July 2014. The whitepaper caused a huge stir in the community for several reasons. In addition to revolutionary technical aspects, the names of the newspaper’s publishers are among the most respected in the market. Specifically, the Tethers whitepaper lists co-founders Brock Pierce, Reeve Collins, and Craig Sellars.
Interestingly, the name Realcoin did not last long. In November 2014, the Santa Monica startup decided it was time to introduce a new name – Tether. Notably, Tether entered the market with a three-pronged approach.
The platform has introduced three stablecoins as part of its entry strategy. The first coin was USTether. This token has been pegged 1: 1 to the US dollar. The value of the second coin is pegged to the euro, and the last coin is pegged to the Japanese yen known as YenTether.
Bitfinex became the first exchange to introduce Tether to its platform in January 2015. Stablecoins were instantly successful. The exchange saw huge user activity in relation to this token. As a result, Bitfinex has become the leading exchange in terms of Tether trading.
Researchers soon began to question Tether’s solvency. It was the first stablecoin on the market and its unprecedented success has not been overlooked.
The meaning of the creation of the USDT cryptocurrency is that, unlike others, its value is provided not only by supply and demand, but also partially by the stock of US dollars.
By providing the value of the coin with fiat money, its volatility is reduced in comparison with Bitcoin, Ethereum and other unsecured counterparts. This quality is both an advantage and a disadvantage of stablecoin. After all, less volatility means less opportunities for intraday trading and the opportunity to make money on the rise of the rate, as well as less investment potential, but at the same time lower risks.
However, the USDT cryptocurrency also boasts that it is anonymous and decentralized. It is an alternative to classic fiat currencies and digital currencies, as it combines the properties of both.
In the Tether reserve confirmation system, the amount of USDT in circulation can be easily verified on the bitcoin blockchain using the tools provided by Omnichest.info, which corresponds to the total amount of US dollars held in reserve, which in turn is confirmed by publishing the balance on account of Tether Limited and periodic checks carried out by specialists. The amount of USDT in circulation can be checked. The volume of USDT in circulation at any given time can be designated as TUSD. The volume of USDT in circulation must always match the volume of USD in Tether Limited accounts in order to receive and send fiat currency to users who buy / sell USDT cryptocurrency directly through the Tether platform.
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