Tether coin, also known as USDT, is a cryptocurrency that is designed to maintain and mirror the value of the U.S. Dollar. The purpose of Tether was to have a cryptocurrency that could be used for daily transactions without the volatility of crypto prices. Tether coins are backed by the company Tether Limited which ensures that the value remains the equivalent of the U.S. Dollar by holding in reserve an equal amount of value in USD.
Stablecoins are cryptocurrencies whose purpose is to hold a stable value by pegging it with a "reserve" asset, such as a fiat currency. For example, Tether reflects the value of the U.S. Dollar.
Key features of stablecoins include a stable value, backed by a reserve, utilization of blockchains, and an expanded use case due to their stability.
Unlike other cryptocurrencies that have high fluctuation in price, Stablecoin's value remains the same over a long period. As stablecoin reflects the fiat currency they represent, stablecoin value remains constant which allows for easier trading and transaction.
Yes. Tether is a legitimate cryptocurrency. USDT is a popular cryptocurrency in the crypto market and maintains its value with the US dollar on a 1 to 1 ratio. This provides stability to both traders and investors.
Earning free Tether (USDT) can be accomplished through various legitimate methods. Some of the most popular ways to earn include Crypto Faucets, Staking, and Rewards sites.
PrizeRebel.com is a reward site that offers its members free cryptocurrencies, including Tether coin, as a reward for completing surveys and offers. Market researchers conduct surveys to gather information on how to improve, develop, and market their products. By providing your opinion on these products that you use daily, you are rewarded with points that can be redeemed for free cryptocurrency from BitPay and Azte.co.
You cannot directly transfer Tether (USDT) to a bank account. However, you can convert your USDT into a fiat currency on a crypto exchange such as Binance or Coinbase. Once you have converted your USDT, you can withdraw the fiat currency to your bank account.
As with other cryptocurrencies, the most popular way to earn more Tether using Tether coins is through staking. Staking is the process where you deposit your Tether coin on a platform or service and earn interest.
No. Tether value does not change when compared to USD. Tether retains a 1:1 ratio with USD.
Yes. By using a crypto exchange, you can convert/sell your Tether coin for a fiat currency including USD.
The pros of using Tether versus a fiat currency are faster and cheaper transactions. Transfers can be made without going through traditional third-party hurdles and fees. With no volatility associated with USDT, services can accept payment without worrying about a drop in valuation.
The cons of using Tether over fiat currency is that not all merchants and services may accept crypto exchange as a payment method. Countries and location laws may also restrict accepting of cryptocurrency as a payment method.
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