Tether (USDT) - Coin of the Week
The cryptocurrency Tether (USDT) is a stablecoin that is linked to an underlying asset. As its name suggests, USDT fluctuates against the USD, which separates the currency from the volatility associated with other digital assets, such as Bitcoin (BTC) or Ethereum (ETH).
History of USDT
The company behind the USDT stablecoin, Tether Limited, operates a platform that issues blockchain assets linked to the price of FIAT money. Tether accepts four types of stablecoins: USDT (linked to the USD), CNHT (linked to the Chinese Yuan), EURT (linked to the Euro) and a stablecoin backed by the price of gold.
The company launched USDT in 2014, in order to make FIAT money more accessible for the blockchain ecosystem, which allows trading even outside the classic trading hours. Each USDT can be redeemed for a corresponding USD held by Tether Limited. The total value of all USD assets is equal to the reserves held by the company.
How does USDT work?
Tether Limited accepts cash deposits and withdrawals on behalf of customers and is responsible for the generation of Tether tokens and the withdrawal of USDT cryptocurrencies from circulation.
Tether (USDT) was initially launched and issued through Bitcoin blockchain technology. The technology allows the management of the Tether (USDT) supply, based on the amount in custody. In addition, the protocol used by Bitcoin helps to track and report Tether (USDT) transactions. The stablecoin is also available on other blockchain technologies including Ethereum and Tron.
USDT use-cases
Trading on cryptocurrency platforms
Active support for dApps and other types of platforms from the crypto and NFT ecosystem
International transfers
Online purchases
For more information about USDT go to the Tether Price (USDT) page.
USDT advantages
Stability
Speed
Accessibility
For more information about USDT go to the Tether Price (USDT) page.
Financial Indicators USDT
Market Cap: 73 billion EURO
Transaction Volume USDT (24h): 44 billion EURO
USDT Community
USDT vs USDC
The two popular stable currencies are differentiated by 4 important aspects:
Blockchain: USDC is based on the Ethereum blockchain, while USDT is available on several blockchains, including Ethereum, Tron and Algorand.
Jurisdiction: The USDC cryptocurrency is backed by a reserve of USD that is held by a regulated financial institution in the United States. Instead, Tether Limited is incorporated outside the United States.
Market Cap: USDT has a larger market cap (β¬73 billion). USDC has a capitalization of 27 billion EURO.
Availability: USDT is available in more countries than USDC and is accepted by more crypto trading platforms. However, USDC has received regulatory approval in the US and is enjoying widespread adoption in the United States.
How to buy USDT?
On Tradesilvania you can buy and sell USDT or other types of cryptocurrencies, such as Ethereum (ETH) and Solana (SOL). The stable currency is also available for staking in the Savings Tradesilvania service.