Is bitcoin is world's most used cryptocurrency????

What’s the world’s most widely used cryptocurrency?

If you think it’s Bitcoin, you’re probably wrong.


While concrete figures on trading volumes are hard to come by in this often murky corner of finance, data from CoinMarketCap.com show that the token with the highest daily and monthly trading volume is Tether, whose market capitalization is more than 30 times smaller. Tether’s volume surpassed that of Bitcoin’s for the first time in April and has consistently exceeded it since early August at about $21 billion per day, the data provider says.

With Tether’s monthly trading volume about 18% higher than that of Bitcoin, it’s arguably the most important coin in the crypto ecosystem

“If there is no Tether, we lose a massive amount of daily volume -- around $1 billion or more depending on the data source,” said Lex Sokolin, global financial technology co-head at ConsenSys, which offers blockchain technology. “Some of the concerning potential patters of trading in the market may start to fall away.”

Tether is the world’s most used stablecoin In countries like China, where crypto exchanges are banned, people can pay cash over the counter to get Tethers with few questions asked, according to Sokolin. From there, they can trade Tethers for Bitcoin and other cryptocurrencies, he said.

“I don’t think people actually trust Tether -- I think people use Tether without realizing that they are using it, and instead think they have actual dollars in a bank account somewhere,” Dryja said. Some exchanges mislabel their pages, to convey the impression that customers are holding dollars instead of Tethers, he said.

Tether has been around since 2014 -- ancient antecedents in crypto --and has retained its value,” said Aaron Brown, an investor and a writer for Bloomberg Opinion. “I don’t say it’s perfect, but its convenience outweighs its risk for many people.”