What is Tether (USDT)?
What do you know about Tether (USDT)?
Tether (USDT) is a digital currency issued by Tether and owned by BitFinex. Tether has been issued on several blockchain platforms including: Ethereum, Binance, Tron, and Bitcoin via Omni, Solana, and others. Tether Limited confirms that every Tether (USDT) traded is backed by at least $1 USD of its reserves. Users can create and redeem Tether for USD by registering at Tether.to.
Tether (USDT) is one of many “stablecoins” in the cryptocurrency ecosystem. A “stablecoin” simply refers to any digital currency token that aims to follow another asset in value. Tether has made specific attempts to follow the value of the US dollar, and typically trades at around $1. With a native currency directly pegged to the dollar, users can switch between holding volatile cryptocurrencies and less volatile currencies, while retaining their ability to transact across blockchain networks in the cryptocurrency ecosystem.
