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What Is Tether (USDT)????????Tether????
Tether (USDT) is globally the first and most widely used stablecoin in the crypto market. The USDT price is pegged to the US dollar at a 1 to 1 ratio and is backed by Tether's reserves.
It offers all benefits of a cryptocurrency - enabling the digital transfer of payments, decentralized design, and all other advantagesblockchain technologyhas to offer. However, it also comes with the added benefit of being immune to the high volatility of other cryptocurrencies likeBitcoinandEthereumexperience, thanks to its pegging mechanism.
The USDT token can be thought of as a blockchain-based equivalent to the fiat currency US dollar. Its key strength lies in the price stability mechanism, making it a convenient way to conduct digital transactions without worrying about fluctuations in price and value.
As of March 2023, Tether enjoys a market cap of more than $71 billion and features among the top 5 digital assets by market cap.It is also the leader among stablecoins pegged to the US dollar based on trading volume and circulating supply, enjoying ample adoption by crypto investors and among DeFiconsumers.
How Does Tether’s USDT Work?
Tether offers the stability and security that fiat currencies are known for and merges them with the power of blockchain technology. This provides a decentralized and easy-to-use payment option, handy for making cross-border payments possible almost instantly.
The lack of intermediaries like banks and financial institutions means that USDT transactions offer near-instant settlement times, lower transaction costs, and higher transparency than the traditional banking and finance industry.
Tether tokens enjoy a 1-to-1 peg with fiat currencies, for instance, 1 USDT = 1 USD, keeping the Tether price closely fixed to that of the United States dollar. Users can deposit fiat currency into Tether’s bank account to obtain an equivalent amount of Tether tokens into their crypto wallets. Users can then transact, trade, or hold these USDT tokens just like regular cryptocurrencies, except without worrying about sudden Tether price drops that could wipe out their capital.
Whenever users sell their USDT in exchange for fiat currency, Tether removes as many tokens from the total supply. This move ensures that Tether's price remains pegged to the US dollar and does not falter.
History of Tether and USDT
Launched in 2014, Tether was initially known as Realcoin and was a Layer-2 crypto developed on top of the Bitcoin blockchain. It underwent two name changes, getting updated first to USTether and then to Tether (USDT).
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Brock Pierce, Craig Sellers, and Reeve Collins were the co-founders of Tether (USDT), designing it to keep the USDT price pegged at 1:1 with the US dollar. Developers using the Omni protocol on Bitcoin,Tetherthen went on to get updated so it could work on Ethereum,EOS,TRON,Algorand,andOMGblockchain networks as well. USDT tokens on Ethereum function as ERC-20 tokens.
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Tether faced some controversies over a lack of complete visibility into audited financial statements about their USD reserves that they claim back the USDT coin. It announced its banking partners in November 2018 to ease some concerns about their claims.
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In March 2019, Tether announced that the USDT tokens were not backed 100% by US dollar deposits. Since then, Tether claims that the USDT token is backed by reserves, consisting of both USD and cash equivalents, in addition to other assets and receivables from loans made by the company.
FAQ
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KuCoin Tether ( USDT ) ?? ??? ???? ???? USD ???? ?? ?? ???? ????? ???? ??? ?? ?? ???? ??? ??? ??? ?? ???? ???? ?????? ?? ????? ?? ????? ???? ??? ???? ???? USDT ?? USD ???????? ???? ???? ???? ?? ??? KuCoin ????????? ??????? ?????How to Convert USDT to Fiat Currency
You can convert USDT back into USD or any other fiat currency through Tether trading by simply selling them on crypto exchanges or some crypto payment providers. Check the live price of USDTin your local fiat currency before placing the sell order.
Once you sell the USDT, you can receive the equivalent amount of USD or your local fiat currency, which can then be withdrawn into your bank account. Do note that KuCoin will charge a transaction processing fee on the withdrawal.
On KuCoin, converting USDT to fiat currency is possible once you have completed the KYC verification on your account. You can withdraw your USDT coins from your trading account into your bank account in the form of your local currency. You can also sell USDT on our P2P marketto convert Tether into fiat currencies based on the latest USD value and Tether price.
How to Use Tether (USDT)
Purchase Goods and Services From Stores
Tether’s USDT can be used as a payment method to purchase goods and services across physical and online stores that support it. It is convenient to make digital payments as the Tether price remains constant.
Send and Receive Payments Almost Instantly
You can also use USDT to send and receive payments from other users and or/businesses located around the world almost instantly. Tether charges far lower transaction fees than conventional payment methods such as fiat currencies and is especially beneficial when making fast and cheap cross-border payments.
Trade Cryptocurrencies on Exchanges
You can trade Tether against many cryptocurrencies to grow your crypto portfolio and capital. As the stablecoin with the largest market cap and circulating supply, USDT is one of the most popular base digital assets to trade cryptocurrency pairs on leading exchanges, including KuCoin. It enjoys high liquidity and trading volume across CEX and DEXs, making buy and sell orders quick and convenient when trading cryptos.
Earn Passive Income on KuCoin
You can generate passive revenue with your USDT holdings on several platforms. On KuCoin, you canlend USDTor stake USDT to earn attractive returns and put yourstablecoinsto work.
Is Tether a Good Investment?
Tether is an exciting concept to hold or invest in among crypto assets. Unlike other cryptocurrencies that experience price volatility which can be traded for profits, the USDT price almost always remains pegged to that of the US dollar.
As a crypto asset to invest in, USDT can earn you attractive returns if you put your tokens to work via activities such as lending or staking. In the world of DeFi, USDT is one of the most in-demand digital assets, with platforms offering some of the highest returns forliquidityin Tether.
Its high usage is evident from its market cap, which makes USDT among the top 10 cryptocurrencies. As long as the demand for Tether remains high among cryptocurrency exchanges, this stablecoin can enjoy high value and offer exciting rewards if you invest in it and put it to work.
How do you Make Money Investing in USDT?
You can profit from investing in USDT by depositing it on KuCoin or other platforms in exchange for attractive returns. Your deposit provides liquidity to the platform, and you are rewarded for your contribution in the form of interest.
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Stake USDT on KuCoin
KuCoin Earnlets you deposit Tether for a flexible period which you can select and receive attractive APRs. At the end of the tenure, you will receive your originally deposited amount of USDT along with the interest that accumulates over the period.
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Lend Liquidity in USDT
You can also use ourCrypto Lendingfeature to lend KuCoin your USDT for seven days, 14 days, or 28 days. The APRs vary based on the amount of USDT you lend and the period you select.
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Trade USDT Against Other Crypto Assets
You can also make money through USDT if you trade it against other cryptocurrencies. By performing technical, fundamental, and market sentiment analysis, you can place trades in cryptocurrencies using USDT.
Sell Tether to buy any number of cryptocurrencies supported on the platform of your choice. Buying at a low price and selling when the price goes higher can increase your chances of growing your crypto capital.
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This detailed match analysis covers key moments, player performances, and tactical insights.
Key Statistics
Possession: 55% - 45%
Shots on target: 6 - 3
Pass accuracy: 88% - 82%
Corners: 5 - 2
Player Ratings
- Home MVP: John Doe (9.2)
- Away MVP: James Smith (8.7)
Post-Match Analysis
The manager praised the team's resilience after coming from behind. "We showed great character," he said.
This win moves them to the top of the league table with 45 points.