Tether is a block-chain based crypto-currency which is known for its stability. The Tether tokens are backed by the reserve of fiat currency, meaning the tokens are generally fixed against the value of its fiat equivalent. It runs on Omni layer block-chain which is a block-chain platform offered by the Bitcoin.
The central theme or the motive behind its invention is to provide an easy bridge from fiat currency to the virtual currencies and vice versa.
Features of Tether:
· Stable: The Tether tokens are backed by the reserve of fiat currency that does fix its value against its fiat counterpart. For Instance, if you are to invest $15 USD, then the return that you would get out of it would be 15 Tethers, n so will it remain in the changing scenarios, even if the value of dollar fluctuates.
· Low transaction fee: The transaction fee involved is negligible relatively to the other alt coins.
History and Founders:
The coin was launched in the year 2015 under the brand name of Tether Limited, which is Chinese based firm. It was initially termed as ‘Realcoin’. Eventually it got rebranded as Tether.
Maximum Supply: 444,951,082 USDT
Proof: Proof of Reserve
How is it different from Bitcoin?
The decentralised block-chain regime of Bitcoin was conceptualised to run a parallel currency system against the existing form of fiat currencies. Tether tokens on the other hand are backed by the reserve of fiat currencies, which helps it being a stable crypto-coin along with utilization of the block-chain technology.
The other difference is that Tether doesn’t owns a block-chain and operate on the borrowed mechanism i.e. Omni layer.
How to buy Tether?
The Tether tokens are conveniently accessible with the swift conversion of universally accepted currencies like USD, Euro, and Japanese Yen etc. The stand out point for Tether is that unlike other crypto-currencies, its value stays the fixed against the fiat money. Checkout the Exchanges listed below to trade the Tether tokens. It is closely associated with the Bitfinex Exchange.
Best Exchanges for Tether:
· Bitfinex Multi-coin Exchange
· CEX.IO Crypto-currency Exchange
· BitPanda Crypto-currency Exchange
· VirWox Virtual Currency Exchange
· Coinbase Digital Currency Exchange
· Local Bitcoins P2P Exchange
· Coinmama Bitcoin Marketplace
· Changelly Crypto to Crypto Exchange
· HitBTC Multi-currency Exchange
· Shapeshift Exchange
Best Tether Wallets:
The wallet prescribed for storing the Tethers is the USDT wallet (Tether Wallet) which is its official wallet.
Key competitors of Tether:
Key Advantages of Tether:
· Tether provides a fair platform to make use of fiat currency virtually. (Since it is pegged against the value of dollar)
· Amongst the rest of the options floating in the category of virtual currencies, Tether is one such option that has a stable reign in terms of its value.
· Tether operates on Omni block-chain, which is patented under a top notch brand called Bitcoin, thereby offering a tested and secure mechanism.
· Tether charge backs a very low transaction fee.
· The clear benefit of Tether is its regular audits and disclosure that ensures its customers a reasonable safety.
Disadvantages of Tether:
· The registration process involves compliance of strict regulations and guidelines.
Twitter handle for Tether: https://twitter.com/tether_to?lang=en
Reddit handle for Tether: https://www.reddit.com/r/Tether/
Official Website: https://tether.to/