What is Tether and how does it relate to the world of cryptocurrency?

1 answers

• Jan 14, 2022 · 3 years ago
  Tether, also known as USDT, is a stablecoin that is widely used in the cryptocurrency industry. It is issued by a company called Tether Limited, which claims that each Tether token is backed by an equivalent amount of US dollars held in reserve. Tether can be used on various cryptocurrency exchanges and platforms for trading, investing, and transferring funds. It provides a stable and reliable alternative to traditional fiat currencies, allowing users to easily store and transfer value without the need for a bank account. However, it's important to note that Tether has faced some controversy and skepticism regarding its transparency and the actual amount of fiat currency reserves it holds. It's always recommended to do thorough research and exercise caution when dealing with any cryptocurrency, including Tether.
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