Charts price for Tether (USDT)

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Description of Tether (USDT)

Release date: Early 2015.

Tether Functionality

Tether is a digital asset that is pegged to normal fiat currencies at a rate of 1:1. Meaning that, for example, 1 .

USDT is built on the Omni Protocol. Which is open sourced software that connects to Blockchains. What is special about the Omni Protocol is that it grants the opportunity to issue and redeem crypto assets as tokens.

The fiat reserve accounts of the Tether Foundation, which back USDT are guaranteed and regularly audited in order to ensure compliance and transparency. The end goal of Tether is to provide the world is to provide its users with ease of transfer and a quick and seamless opportunity to switch to a less volatile cryptocurrency during market fluctuations.

USDT is secure and built on open Blockchain technology. Additionally, it adheres to stringent global laws, regulations, and abides to strict security protocols. USDT is redeemable for hard cash. At the moment, Tether currently supports US dollars, and Euros.

Tether is on most major cryptocurrency exchanges. Such as Binance, Bittrex, Poloniex, and Bitfinex. Many traders view it as an ideal hedge in terms of the cryptomarket.

Previously there have been concerns regarding the legitimacy of tether, and if it is really backed by USD. Currently, there is a supply of almost 2,6 billion USDT. With more to be pushed into circulation as long as Tether Limited, the company behind USDT, has enough reserves.