Bitcoin to Tether

The key difference between Tether and Bitcoin

In the time of the market downtrend, it can be wise to convert BTC to USDT.

Launched in 2009 Bitcoin is the first cryptocurrency that has ever been created and all other cryptos are its derivatives. As it is not controlled by any Central Bank or other authority its price is pretty volatile and it can change in any direction at any minute.

Tether or crypto-USD, on the contrary, has a stable rate and always equals to 1 USD. It is the so-called ‘stable coin’. Its price may fluctuate in different times, but it’s always within plus or minus $0.1 per coin. USDT price usually grows when the market is at the downtrend and people convert their cryptos into a stable coin in order to save their money. The demand for USDT grows and so does its price. Remember this fact if you decide to convert  Bitcoin to Tether that in the pair BTC/USDT the last one will always be the same while bitcoin’s price is hard to predict.

Mining algorithms

What is Bitcoin mining algorithm?

When converting USDT to BTC it’s a good practice to learn about how the digital coins are produced. Satoshi Nakamoto, Bitcoin’s inventor, put the algorithm called Proof-of-Work to its basement. The special machines consume electricity, resolve computational tasks in order to find blocks and as proof of their work get a reward in bitcoins for every newly discovered block. Technically this algorithm is called SHA-256 and although in its early years Bitcoin could be obtained on usual PC, now that the mining difficulty has drastically increased, it is only reasonable to mine bitcoins for profit on special equipment (ASICs).

How is Tether produced?

Tether is issued by a single company on the Bitcoin blockchain through the Omni Layer Protocol and it cannot be mined. 1 USDT is always backed up by 1 dollar that the company gains from its investors. You can only buy USDT with BTC or any other currency on exchange platforms or form the issuing company itself.

Tether supply

The circulating supply of Tether equals to {coin1-circulating-supply}, while its maximum supply equals to {coin1-maximum-supply}.

For Bitcoin, the circulating supply equals to {coin2-circulating-supply}, while its maximum supply equals to {coin2-maximum-supply}.

Market Capitalization

If you want to exchange Tether to Bitcoin, the market capitalization is a very important index that you should pay attention to.

For Tether, the current market capitalization equals to {coin1-market-capitalization}. Bitcoin’s capitalization equals to {coin2-market-capitalization}.

Volume of transactions

During the last 24 hours, Tether volume of transaction equals to {coin1-volume-transaction-day}. For Bitcoin, this index equals to {coin2-volume-transaction-day}.

Average transaction speed