What is TETHER?

in Steem LIFElast month

The main purpose for Tether is to make trading cryptocurrencies easier and cheaper. As of 2021, more than 75% of Bitcoin trading is done in Tether. Although some people invest in Tether, it is mostly used for liquidity and to hedge against volatility when trading other cryptocurrencies like Bitcoin.

While most people wouldn't use Bitcoin or Ethereum for purchases and daily transactions due to their high volatility, it makes perfect sense to use Tether. For these reasons and more, it is still worthwhile to invest in Tether.

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Every Tether token is always 100% backed by our reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, “reserves”). Every Tether token is also 1-to-1 pegged to the dollar, so 1 USD₮ Token is always valued by Tether at 1 USD.

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The value of our reserves is published daily. The value of our reserves matches or exceeds the value of all tethers in circulation.

Blockchain Technology
The Tether platform is built on top of open blockchain technologies, leveraging the security and transparency that they provide.

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