Tether USDt /USDT

What is Tether (USDT) : 

Tether (USDT) is the most used stable cryptocurrency. It was launched by Tether Limited Inc. in July 2014 (owned by iFinex Inc., a company based in the British Virgin Islands). It is pegged 1:1 to the value of the U.S. dollar, designed specifically to bridge the gap between fiat currency and cryptocurrencies.

USDT is the leading stablecoin and 3rd largest cryptocurrency with a market cap of $132.7B.

It is Built on multiple blockchain networks, primarily on Ethereum and others like Algorand, Avalanche, EOS, Kava, Polka, Polygon, Solana, TRON, and Tezos, offering easy integration and adoption. The USDT Stablecoin is available on all top networks and is paired with most of the trading crypto assets. The USD-pegged cryptocurrency provides high liquidity, quick swap to any currency, low volatility, and wide adoption. 

Originally named “REAL COIN”, by co-founders Brock Pierce, Reeve Collins, and Craig Sellars as a Santa Monica–based startup. Tether was initially built on the Bitcoin blockchain. On 20 November 2014, Tether CEO Reeve Collins announced the project was being renamed to “Tether”. 

Tether cryptocurrency also offers stablecoins pegged to other fiat currencies, such as the Euro, Mexican Peso, British Pound Sterling, and Japanese yen. 

Tether (USDT) History:

• Tether was initially launched as Real Coin on October 6, 2014, by Brock Pierce, Reeve Collins, and Craig Sellars, who were part of Omni Foundation, this initiative allowed them to create enabling the development and trading of smart contracts and currencies on the Bitcoin blockchain.

• The value of the Tether relies on its reserves, as long as the tether maintains 1:1 backing with the U.S. dollar. 

• Tether began history with its launch in Bitfinex, a popular exchange platform in January 2015, started tether trading.

• In 2019, Tether with the highest daily and monthly trading volume surpassed bitcoin cryptocurrency in the market.

• In May 2022, a “Testing ground” was introduced by tether where the MXNT token was pegged to Mexico’s Peso.

• In November 2023, Tether invested half a billion dollars for the next six months, to be the world’s top Bitcoin miners. This investment included a $610 million credit facility.

• In December 2023, in Lugano, Switzerland, payment of taxes, fines, and other invoices was accepted through cryptocurrency including Tether stablecoin.

• In February 2024, the Tether education platform was launched to teach skills of blockchain, which reported a $4.52 billion profit, and $200 million was invested in chip technology.

• By May 2024, Tether will operate and enhance its focus in each of these key areas finance, data, power, and education.

How does USDT work? 

Tether (USDT) is a stablecoin, designed to maintain stable value by pegging it to a reserve of assets, usually a fiat currency like the US dollar. USDT can be created by depositing USD with Tether issuing the equivalent amount of USDT. Tether exists on multiple blockchains including Tron and Ethereum allowing it to be used on platforms and decentralized applications. Its stability makes it popular to be utilized by crypto exchanges and provides liquidity.

What is stablecoin? 

A stablecoin is a type of cryptocurrency designed as a reserve of assets, usually a fiat currency like the US dollar, or commodities such as gold. The primary goal of stablecoins is to reduce the volatility typically associated with cryptocurrencies, making them suitable for everyday use for transactions, and savings.

Classified into 3type: Fiat-collateralized stablecoins, backed 1:1 by fiat currency(Tether or USD Coin); Crypto-collateralized stablecoins, backed by other cryptocurrencies and often over-collateralized to account for price fluctuations (DAI) and algorithmic stablecoins, using algorithms to control supply and maintain price stability without being backed (TerraUSD before its collapse). Overall Stablecoins benefits cryptocurrency in fast transactions and decentralization with stability of currencies.

Tether (USDT) Price: 

• Tether was initially launched at a value close to $1.

• Tether (USDT) price experienced its all-time low on March 2, 2015, falling to $0.57.

• Tether (USDT) achieved an all-time high of $1.32 On July 24, 2018. 

• To convert Tether price USDT to INR/BTC/BNB/USD/ETH/AUD/BRL/EUR/GBP, use Coinpedia’s converter at https://markets.coinpedia.org/tether/.

Where can I buy Tether (USDT) coins?

• Centralized Exchanges: Tether or USDT can be swapped or traded on Binance, Bybit, OKX, Upbit, HTX, Bitfinex, and Kraken.

• Decentralized Exchanges: Peer-to-peer trading of TRX is carried out by using Pancakeswap, Uniswap, Curve, Balancer V2, and Squad Swap.

Wallets for Tether (USDT) : 

Wallets you can use to store tether or USDT include:

• Desktop Tether Wallet: Wasabi, Electrum, Exodus, Atomic, and Coinomi these wallets can be installed on a PC or laptop to store the keys.

• Mobile Tether Wallet: Mobile-based-app wallets supporting IOS and Android using private ipin for security purposes include Trust Wallet, Trustee, ImToken, and TokenPocket.

• Online Tether Wallet: Web-based browser wallets to store USDT like Lumi, Holytransaction, Guarda, and Mathwallet.

• Hardware Tether Wallet: External devices that support storing of USDT include Ledger Wallet, Tangem, Trezor, Safepal, and Bitlox.

• Paper Wallet: The private keys are printed and stored offline on paper carefully.