What is Tether (USDT)?

Updated · 28 October 2021 · 8:28 AM

Tether is a cryptocurrency that was created with the intent of mirroring the US Dollar. It is meant to be traded at a fixed price of USD ($1). Each Tether is allegedly backed by 1 real Dollar, that’s held in the company’s reserve.

There is also a form of Tether that is backed by the Euro, even though it has an extremely low trading volume.

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