What is Tether?

-A digital token backed by fiat currency provides individuals and organizations with a decentralized method of exchanging value

-Tethers exists on blockchains through the Omni Protocol. The Omni Protocol is open source software that interfaces with blockchains to allow for the issuing and redemption of cryptocurrency tokens.

-Tether Platform currencies are 100% backed by actual fiat currency assets in the reserves account.

-Tether is the most stable crypto out there

How is it Used?

-Tether enables businesses, including exchanges, wallets, payment processors financial services and ATMs, to easily use fiat currencies on blockchains.

-Because Tethers are anchored to real-world currencies they are not volatile as other digital currencies.

-This essentially means that when other cryptos dip Tether will stay the same

-Tether has almost zero conversion fees and charges no commissions

Why Use Tether?

-Tether is currently the only stable cryptocurrency that doesn't get affected by dips and market crashes like other cryptos

-Transforming money into Tether is easier and cheaper than transforming it into fiat

-Tether is also used on exchanges that don't get involved with fiat like Poloniex, Bittrex, or Liqui

-It also has more crypto pairings that fiat.

-Since Tether is blockchain based it's also easier and faster to send money with it internationally than it would be with fiat

Use Cases

-Average cryto trader might sell other crytos for Tether during big market dips and then buy back more volatile cryptos once dip ended (dip starts -> sell BTC/ETH and buy USDT -> dip ends -> sell USDT and buy BTC/ETH)

-Shops might use Tether as a form of a safe cryptocurrency payment since they don't have to worry about is losing value.

-Tether is also generally quite a good crypto to use to send payments: easy to set up, working selection of wallets, fast and cheap payments

Great video to learn the pros and cons of Tether

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