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If you look at the Coinmarketcap ranking, you will see the three leading digital assets on it: Bitcoin, Ethereum and Tether. In this article, we would like to discuss the Tether coin.
Tether is a stablecoin supporting different blockchains: Bitcoin, Tron (trc20 USDT), Ethereum, Algorand, EOS and OMG Network.
USDT is the Tether coin supported by reserves of real currencies - dollars, so its price is always around one dollar. The USDT EUR rate is 1.0060.
Since the Tether price USD is always stable, it does not depend on the crypto market trends. It means no matter where the market moves, Tether's price always remains at the same level.
Some use cases for USDT:
Investors use USDT to hedge risks in trading. For example, before the market downtrend, investors convert their volatile crypto assets to USDT, thus, they don’t leave the crypto space and, at the same time, maintain the value of their investment in dollar or euro equivalent. Stablecoins help to avoid rapid market drops and maintain holdings.
The Tether coin is also actively used for fast and safe money transfers worldwide. Compared with bank services that may take many days and charge high fees, USDT EUR transactions occur fast and at low fees. Many companies come to this solution to simplify their work processes and facilitate money transfers.
USDT is the third-popular crypto asset in the market, so it is available on all large crypto exchanges. We recommend using WhiteBIT - a centralised crypto platform that allows trading crypto-crypto and crypto-fiat pairs. Registered and verified clients access the full range of services and unlimited withdrawals. You can convert USDT to USD and move dollars directly to your bank card in a matter of minutes.
WhiteBIT is popular among novice traders and investors for it offers a convenient interface and application, a safe and protected wallet, and low fees. Also, the platform has a demo trading option for those wanting to practice before trading in the real markets.
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