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Tether Review: Description, Advantages, Disadvantages and Prospects

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Tether (USDT) is the third largest cryptocurrency in terms of capitalization and the first in terms of trading volume in the world, the exchange rate of which is always stable due to its peg to the US dollar. In the article, we will consider what is the reason for the popularity of this coin, how safe it is and what prospects it has.

How the platform works

Tether is a platform for launching tokens pegged to fiat money. The most commonly used coin is USDT, pegged to the US dollar at a rate of 1:1. According to the company, the peg is supported by a reserve: for every 1 USDT issued, there is 1 USD held in a bank deposit. Also in Tether there is a crypto-currency equivalent of the euro (EURT) and the Chinese yuan (CNYT). The issue and reserve is handled by Tether Limited.

USDT Price

Now there are 709 million USDT coins in circulation, the total capitalization of which is 9.6 billion US dollars (06/22/2020). The company is issuing new coins in stages of several hundred million tokens. The last stage of the emission took place at the end of March 2020. 720 million new USDT tokens have been created.

Technical side of the system
Tether

One such solution is integration with the Ethereum network and the creation of ERC20 standard tokens, thanks to which Tether has the ability to use smart contracts. The integration was carried out using the Liquid Protocol, which also allowed Tether to be linked to the EOS and Tron blockchains.

Where and how to buy cryptocurrency

The easiest way to buy Tether is to register on the site’s official website and go through verification almost like in a casino https://slotsmegacasino.com/en-us/usdt-casinos/. Registration is simple: you need to provide your first and last name, email address and country / state of residence.

Tether Gold

After registering, you will immediately be taken to the Tether online wallet page, where the system asks you to confirm your mail and connect two-factor authentication using a QR code and the Google Authenticator app.

Tether QR code

Then you will need to pass the verification of a private or legal person (for $ 150). This is necessary for KYC and AML procedures, as well as for the system to determine the jurisdiction. Persons from Venezuela, Congo, Syria, Iran, Pakistan, North Korea and Crimea are denied access to the service. US persons may only use the site if they are permitted to engage in financial transactions in accordance with Eligible Contract Participants (ECP).

Tether Verification

After verification is completed, the user can buy, sell and transfer cryptocurrency using Tether Wallet or wallets integrated with it: EXMO, MyEtherWallet, HitBTC, Ledger Nano S and others.

Benefits of Cryptocurrency

stable course. Due to its pegging to the US fiat dollar, buying USDT allows you to maintain the value of capital, despite the high volatility of the cryptocurrency market. What makes Tether a "safe haven" of the crypto market.

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