What is Tether ? | How to buy Tether Cryptocurrency in India

What is Tether ? | How to buy Tether Cryptocurrency in India

What is Tether - The experts of Digital Market and Crypto Currency must be well aware that since the advent of Cryptocurrency in the world, till now more than 1000 Crypto Currency markets like Ripple Coin, Bitcoin, and Tether are present in the market.

In this article today we will talk about Tether (USDT) and know what is Tether?, how to buy it? And what are its advantages and disadvantages?, Through this article, we will give you all the important information related to Tether, which may prove to be important for you to know before investing.

What is Tether?

Tether was launched as a stable coin in the crypto market and at launch it was determined that its value would be equal to one dollar. After coming to the market, when the creators of tether were asked what is the secret behind it being called US Dollar Tether (USDT), then while answering they said that actually a Tether Currency is made of one US Dollar and one US Dollar. Is equal. But on 30 April 2019, Tether Limited's lawyer explained that one (USDT) tether is equal to the price of – 0.74$. In 2012, J.R. Willett introduced the crypto currency MasterCard to the technology that a stable coin could be built on top of the bitcoin block chain, and he joined the master coin and eventually became the Master Coin Omni Foundation. 

Tether is built on the same technology as Master Coin and works on the same principles. Another founder of Tether, Craig Sellers, was also the CTO of MasterCoin. Brock Pierce, Reeve Collins and Craig Sellers changed the real name of Tether to Real Coin in 2014, and on October 6, 2014, the first tether coin appeared on the bitcoin block chain and Reeve Collins, the founder of Real Coin, announced that it would be renamed Tether. Will happen.

Benefits of buying Tether 

By now you must have known that USDT does not provide any opportunity for financial profit, now you may wonder why would anyone use it when even this bud does not give profit or profit? In fact it is a useful alternative to traditional currencies for a number of reasons, one of the main advantages of USDT relates to the time taken for transactions. The process of debit and credit of USD made through foreign currency may take several days.

Another advantage of USDT is related to Transaction Fees. Basically the foreign currency exchanges an average fee of $30, and if your currency is not normally supported by the exchange, then there is an extra fee on top of that. Tether does not charge anything for transactions between Tether and this makes it even more reliable.

The price of USDT remains stable, whereas cryptocurrencies in general are known for their rising and falling prices. This is a big advantage because USDT is a better option than worrying about the price of Bitcoin or Ethereum, in which you are simply concerned with the price of the USD which is not easily moved too much.

How to buy Tether?

You can easily buy tether currency by creating an account on hundreds of great cryptocurrency exchanges websites like Binance, Quoc, Huboi and Bitpanda. The process of buying Tether is very simple. You can buy USDT (US DOLLAR TETHER) through your bank account on major exchanges and make profits through various payment sources including credit cards and bank transfers.

Tether's value rises and falls?

Technically the price of Tether Coin is never more or less, its value is considered to be a US Dollar. Because the value of the USDT is tied to the USD, so if there is a rise or fall in the price of the USD, the USDT also follows the same movement in value relative to the US currencies, so often the price of one USDT is in the USD. price remains.

Today, through this article, we have briefly answered many questions like what is Tether (USDT), its use and advantages and disadvantages of using it. To know all the important things related to CRYPTO TRADING and DIGITAL MARKET, stay connected to our website and get all the information related to digital market.

History of tether

The first Tether (USDT) digital token was issued in late 2014. At the time the CEO announced that the amount of USDT in circulation was 100% backed by its native currency and could be redeemed at any time without any risk. This statement has since been withdrawn, Tether Ltd. makes no legal guarantees for customers to be able to redeem their tokens for USD. Tether has at no point been able to provide financial verification that they have sufficient reserves to cover the tokens issued.

In early 2015, Bitfinex became the first exchange to enable trading of USDT on its trading platform. Bitfinex and Tether have had a somewhat controversial history, but investigations into possible price manipulation between the two have come to nothing. Tether has since been listed on almost all other exchanges.

Tether's performance in one year

The price of one Tether on cryptocurrency exchange Coinbase was 74.19 on 23 November 2020, which rose to 74.41 on 22 November 2021 i.e. a profit of about 0.30 percent over the year. That is to say, if you had invested money in Tether on 23rd November 2020, then your money would have increased only by about 0.30 percent.

Talking about the market cap of Tether, according to Coinbase, its market cap as on 22 November 2021 was 5.4 trillion. At the same time, the market capitalization of Bitcoin was  91.3 trillion and that of Ethereum was 39.5 trillion during this period. Ethereum accounts for 7 percent of the total cryptocurrency market cap, while that of Bitcoin is 35 percent

The market cap of any asset class is calculated by multiplying the amount of that asset in the market by its current market price. Bitcoin and Ethereum are well ahead of Tether in terms of market cap. 73,086,543,701.925 USDT is currently in circulation.