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What is Tether

What is Tether

What makes Tether different from other cryptocurrencies in the space is that it is backed by real money. Each Tether token is backed by 1 US dollar with 1-to-1 ratio and is anchored to the price of most popular national currencies. So far, it’s been the most stable cryptocurrency in the market.

Tether has been designed specifically to convert cash into digital currency. It’s fully transparent as the team publishes its reserve holdings every day. Tether platform is built on top of blockchain which makes it very secure and transparent to its users.

Advantages of using Tether

Security

Tether is based on the blockchain technology that allows to make secure payments without any third-party surveillance. All the payments are processed programmatically which excludes the possibility of human error.

Low volatility

As Tether is tied to real currencies which protects it from price fluctuations and makes it much more stable than all other digital coins.

24/7 customer support

Tether support team helps their users with any issues they come across when making payments with this cryptocurrency. It comes with a small fee, but it can be free if you transfer tether coins from one wallet to another.

USDT definitions

Cryptoasset

This is what any cryptographically secured asset is called. The cryptoassets are decentralized in most cases and are based on the blockchain technology.

Exchange

This is an online platform that allows its users to switch cryptoassets between each other.

Node

It’s a public ledger where the information about all transactions is stored.

Market cap

The total value of the coin supply multiplied by the price per coin helps you to find out the market capitalization of this or another cryptoasset.

Where to keep Tether

Investing in Tether is a rather risky business as this coin may lose parity against USD at anytime. None of the huge wallets support it, so the best option is to keep these coins on the Tether native wallet:

wallet.tether.to

How to transfer Tether securely

There’s no central authority to verify your transactions with cryptocurrencies and nobody to help you if you send your funds to a wrong address. That’s why you should be extremely careful when making payments with Tether and any other cryptocurrency.

Never type a wallet address manually

Cryptocurrency wallet addresses are a huge mix of letters and numbers and it’s nothing difficult to make a mistake if you type a recipient’s address manually. That’s why you should always copy and paste it whenever you want to send your tethers to anyone. Make just one mistake and you will never get your funds back.

Check the transaction fee

Any transaction in Tether implies a fee. Always check that the sum is reasonable before you send USDT to anyone.

Double check the address

Even if you don’t type a recipients address and copy-paste it, there is still a chance to send USDT to a wrong address. There are many malwares on the web that change an address to the one that belongs to hackers. An unwary user will not notice and send his funds to an evildoer. That’s why you should always check the fist and the last symbols of the address before you make a transaction.

Test before sending

Before you send the whole sum to the recipients, try sending a small amount of tethers first. If everything works fine, send the rest. If the transaction goes wrong, at least you will not lose big amount of money.