$1.00 / $0.9901
What is Tether (USDT)
Tether (USDT) is a crypto currency backed by United States dollar (USD). Every tether is always a hundred percent backed by the company’s reserves, which include traditional currency and cash equivalents or other assets and receivables from loans made by Tether to third parties. Tether’s platform is built to be fully transparent at all times as its website states. Every single Tether is 1:1 pegged to the dollar, so 1 USDT is always valued by Tether at 1 USDT.
Tethers exist as digitals tokens built on different blockchain platforms; bitcoin (Omni and Liquid Protocol), Ethereum, EOS and Tron blockchains. One of the aims of Tether is to protect its users from crypto currency volatility which can be happened any time. US Residents are not allowed to issue or redeem Tether. Yet, USDT can be traded in most of the cryptocurrency exchanges by traders. USDT is called as ‘stable coin’ on crypto space because of its 1:1 value structure with fiat currency.