Tether is a cryptocurrency that is more stable than other digital coins as claimed by its creators. This platform was introduced in 2015. This is designed with an innovative idea for a large number of users. Now there is around 2.2 billion tether coins circulation. You might see many developments in the near future as more people are coming forward to invest in this platform.
Who is behind this innovative idea?
These digital coins are introduced by Tether Limited, a company, governed by the laws of the British Virgin Islands. This digital coin was first named as Realcoin in July 2014 by the co-founder of Realcoin Brock Pierce. It was renamed to tether. Tether is backed by the actual fiat currency assets that will include Euro and USD. You might expect a new addition, the Japanese Yen, soon. The benefit of this platform is that it will offer protection from the cryptocurrency volatility.
It will enable the businesses and financial services to use the fiat-backed tokens easily on blockchains. The tether will enable users to receive, send, and store digital tokens person-to-person instantly and globally by a secure and transparent medium, blockchain technology. It is built to be fully secure and transparent.
Tether (USDT) functions & advantages
The main objective of USDT is to convert Euros, USD, and Japanese Yen to cryptocurrency under this platform. It will offer 100% security of the coins. The benefit is that it will be powered by blockchain technology. That means you will get the best features including safe transaction, reliability, and transparency. It will offer you a better understanding of a particular currency in your wallet.
As mentioned earlier, this platform will be backed by blockchain technology. It builds on the top Bitcoin Blockchain, known as Omni Layer. Besides, it will offer an Omni wallet to store the assets such as USTD. All these features make it an extremely transparent and safe system that depends on the most secure and oldest form of the blockchain, Bitcoin blockchain.
Invest or trade Tether (USDT)
If you find tether worth spending and you are determined to invest on this platform, then you will have to be prepared for a rigorous verification process. You will have the access to some popular currency pairs with gain potential. You can be a tether trader by Bittrex and Poloniex. These two exchanges are very popular and a bit risky as well. You can go through all the exchanges to know which one is more suitable depending on your skill and experience.