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Tether is a cryptocurrency which is also a token that is intended to serve as a good gateway between fiat and cryptocurrencies. The establishment responsible for Tether Tokens are Tether Limited. It also keeps traditional fiat currencies, including dollars, euros and yen, in a reserve bank account.
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Some of the major features of Tether are:
With Tether, the establishment claims that the users can have the benefits of digital, blockchain – based transactions without being subject to the volatility of most cryptocurrencies.
It also claims transparency as fiat reserve account is regularly audited in order to verify that its reserve accounts can actually back up the value of Tethers in circulations. They also update the balance on a regular basis which is open to the public at all times. In addition to that, all Tether transactions are recorded on the public blockchain.
- Minimal Transaction fees
With Tether it requires no transaction fees when sending money between two Tether accounts or any two blockchain – based wallets capable of storing Tether. However, if one wishes to convert Tethers into fiat currency which may requires paying some service or transaction fees to the parent company.
How is Tether Different from Bitcoin
Unlike Bitcoin, Tether is advocated by reserves of fiat currency which is held by the company i.e. Tether Limited. The aim of Bitcoin is to first serve as an alternative to traditional currencies, which operates on a peer – to – peer level outside of the scope of national borders and financial institutions.
On the contrary, Tether was designed in a precise way in order to integrate fiat currencies with the blockchain by converting physical cash into a digital asset.
How to Buy Tether
Other exchanges are as follows:
|Name||Payment Methods||Available fiat currencies||Available Cryptocurrencies|
|Changelly||Credit card, Debit card||USD, EUR||BTC, BCH, ETH, XMR, ZEC, DASH, XRP, ETC, LTC, DOGE, XLM,1ST, ADX, AMP, ANT, BAT, BCN, BNT, BTG, CFI, CVC etc|
|CoinSpot||Cash, BPAY, POLi, Cryptocurrency||AUD||BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, MIOTA, TRX, DASH, NEO, XMR, EOS, QTUM, BTG, LSK, ETC, XVG etc|
|Binance||Cryptocurrency||–||BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, ICX, BNB, ZRX, APPC etc|
What are the Advantageous of Tether
- You can use Tether to transit cryptocurrency in order to transfer ordinary money to contractors cheaper and faster than it is done using bank payments. The speed of Tether is same as any other cryptocurrency. With Tether, fiat deposits are charged with a nominal fee. However, if a user’s online wallet is provided not by third parties but Tether Company, then, fees are not paid for money transfer between user’s online wallets.
- Tether provides both purchase and re – selling option. Hence, you can buy USDT from Tether limited but also re – sell it as well. And Tether sell operations are considered to be more advantageous and less formalized on crypto – platform
- Also after the integration, a number of crypto – platforms enhanced their performance as well.
- The greatest part of the fiat currencies, received by the start – up developers in exchange to Tether, is used as back – up funds ensuring market rate stability of the coins.
- Another most important feature of USDT is that it can easily integrated to online wallets of other cryptos via specific program.
What are the Disadvantageous of Tether
- Rate of Tether changes from time to time. However, “Volatility seldom goes higher than 2 – 3%”, it can be called zero anyway.
- Trading pairs with Tether do not all exercise sufficient percentage of liquidity on Tether crypto – platforms.
- Also, unfortunately Tether’s independent mining is not predictable
- Tether Limited is also not charged to buy out tokens whenever user requires