What is it?
Like USDC, Tether is designed to be pegged to the value of the US Dollar on a 1:1 basis. Launched in 2014, it’s expanded to a number of geographic areas and has become the largest stablecoin currently on the market. The firm that issues Tether states that all tokens are backed 100% by Tether’s reserves.
Why trade it?
As a stablecoin, Tether combines the advantages of a cryptocurrency with the stability of the US dollar. There are also versions of Tether pegged to other fiat currencies such as the Euro (EURT) and the Yuan (CNYT), giving users more flexibility in their hedging and trading strategies.
Did you know…
Although Tether was initially launched on the Bitcoin blockchain, it’s now expanded to other networks such as Ethereum, Algorand and Tron.