STEEMIT CRYPTO ACADEMY WEEK-6 HOMEWORK TASK POST FOR PROFESSOR @yahon2on - STABLE COINS.

Dear steemit family and @yahon2on, here is my week-6 homework post for your lectures.

Source

A STABLE CRYPTOCURRENCY: TETHER (USDT).
Tether (USDT) is stablecoin whose coin offers minimal price volatility. Being a stablecoin, its primary aim is definitely to keep the value of its currency stable.
It is backed by a fiat currency - Fiat currencies are currencies like the U.S Dollar or the Euro. But Tether (USDT) is specifically backed by the U.S Dollar.
The Tether (USDT) stablecoin provides a kind of connection or better still, a bridge between fiat currencies and cryptocurrencies and by so doing, it reduces the volatility of its currency and increases it's stability.

Source

ADVANTAGES OF TETHER USDT.
Good Ratio: The USDT Tether has a ratio of 1:1 with the U.S Dollar which it is pegged with and this is a good ratio for a stablecoin. It also allows for optimum transparency as it also help in national currency (fiat currency) transfer.

Transaction time; It takes only some minutes for a tether USDT transaction to be completed, this is definitely one thing that any body trading with or on cryptocurrencies will like as it is rather an opposite of the number of days that it takes for a USD transaction to be completed, which is usually unfavorable for cryptocurrency traders.

Transaction fee; Tether, sunrisingly do not charge any amount of money for transactions between tether wallets as compared to what was obtainable with others before it was designed.

DISADVANTAGES OF TETHER.
No guarantee: One thing I have found out about Tether limited is that they do not guarantee their customers of any redemption of their coins, this means that Tether USDT can not be exchanged with real money.

Controversies
Tether cryptocurrency have had some controversies on its path that any beginner who wants to invest in cryptocurrency should know about before deciding whether to use Tether USDT or not.
Stable coins always perform an audit to ensure the maintenance of its realistic reserve, but tether failed to perform it's own when it was supposed to do so, this made many people wonder if they are really transparent as they ought to be.
Another popular issue that happened with Tether USDT was when it was hacked in 2017, and it was reported that Tether coins that we're valued up to $31 million got stolen. This was really a security stain on their paths.

CONCLUSION
Tether is one of the very few cryptocurrencies that is free of fluctuations and it. They do not charge their users for transportations, and it is also transparent. It was initially built on Bitcoin blockchain, but there are some additions since that as some. Versions have also gone to other blockchains like Ethereum.
It hope you had a nice time going through my homework post, thanks for having a look at it.