TetherUS

USDT

TetherUS Price

1.01$

Last 24hrs

+0.00$ (+%)

About TetherUS

Tether (USDT) is a cryptocurrency whose value is meant to mirror the value of the U.S. dollar. It is a token based on the Omni blockchain and was created to create stable crypto assets that can be used like digital dollars. The Tether Network converts cash into digital currency, to “tether” or anchor the value of the coin to the price of national currencies like the US dollar, the Euro, and the Japanese Yen. While these tokens are not actual money, they are backed by the currency used to purchase them. Tether started trading in February 2015 and has a market cap of over four billion dollars.

Tether falls under a new category of cryptocurrencies known as stablecoins. One of its main aims is to keep the valuation of the cryptocurrency stable, as opposed to the volatile price swings observed in other popular cryptocurrencies like Bitcoin and Ethereum. This would allow USDT to be used both as a medium of exchange and a mode of storage of value, rather than a medium of speculative investments. Each USDT unit is pegged against the U.S. dollar with a 1-to-1 ratio. So theoretically, 1 USDT = $1. However, Tether Ltd. provides no guarantee for any right of redemption or exchange of Tethers for real money. As such, even though users can buy and sell USDT, they cannot always exchange it for U.S. dollars.