Tether (USDT) Review (9.17/10⭐)



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Tether (USDT) is a cryptocurrency that’s considered a stablecoin. The crypto is issued by Tether Limited, but it was initially known as Realcoin. During its inception, it was designed to always be 1 dollar, thus making it a digital dollar. Tether Limited keeps all the reserves of tokens, thus facilitating its deposits and withdrawals. Below, we will help you understand how the USDT cryptocurrency works and clarify all the misunderstandings around it. It aims to disrupt the conventional financial system using the modern approach. It allows all customers to transact using traditional currencies across the blockchain. Therefore, the customers are free of the inherent complexity and volatility that’s associated with most digital currencies.
USDTUSD (-0.15%)
$1.00
December 3, 2022, 11:00 am [UTC]

9.17 rating

Visitor Consensus on Tether Today
Positive: 53.13%Negative: 46.87%
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›› Buy/Sell Tether here

 

Tether is based in the United States. The blockchain supplies coins known as USDT to traders. USDT is a stablecoin since it is pegged to the US Dollar. As a result, the coin is less volatile than unpegged cryptocurrencies. Still, you should not forget the regulatory risk for USDT, since the US government expressed their intention to regulate Tether and other stablecoins. Exactly what that means for the market is still unclear, even if it's likely positive in the long term.

 

A Bit About Tether

Tether was launched on the bitcoin blockchain known as the Omni layer. Therefore, the ledger is stored on the bitcoin blockchain, thus making all transactions searchable through the Omni Explorer. Besides being on the bitcoin blockchain, it is available on other blockchains, including EOSIO, Tron, and Ethereum. This allows you to create new assets natively on these platforms. Furthermore, the largest USDT cryptocurrency market happens to be Ethereum.

Digital money for a digital age.CryptoLists.com
 

It has plenty of benefits for anyone that’s considering using cryptocurrencies. First, it’s a crypto that you can use to purchase other cryptocurrencies. It saves you time and money because when buying crypto, it can take days before clearance from your bank. Therefore, using Tether allows you to buy any crypto of your choice without having to wait for days. On the other hand, it is a great option for transferring money. If you plan to send money between crypto wallets or exchanges, Tether is your best option. You can use it to transfer money to another person or between your exchange accounts. The advantage of using Tether is that it's free when transferring to Tether wallets. Furthermore, it is a great crypto to use if you want to earn interest. Nowadays, you will find different crypto exchanges that pay you interest when you lend crypto. You can earn as much as 25% interest on your coins at times. The advantage of using it is that the value usually don't fluctuate much. With other cryptos, you can still earn interest and lose it when the price of the crypto drops.

Risks with Using Tether

Regulation is without a doubt the major risk for Tether, a stablecoin that is trying to mimic the USD though the Omni-layer.

 

Utility of Tether?

There are many other stablecoins in the market. But, perhaps, you are curious about what makes this digital coin stand out. In 2021, it became the third-largest crypto in terms of market cap. Sometimes its daily trading volume is so huge that it surpasses popular cryptocurrencies like Bitcoin.

Also, you can use this stablecoin from any part of the world. Therefore, you do not need to worry about a country lacking or restricting this crypto. That being the case, it supports many other international currencies such as Euros, Chinese Yuan and gold.

Did you know that Tether pioneered stablecoins? Being pioneers, they understand how to keep their cryptocurrency from falling in the exchange market. Such a move proves that Tether is innovative. If a trader has a problem, the company will likely think outside the box and solve your problem.

Tether Price details

ERC20 Contract address: 0xdac17f958d2ee523a2206206994597c13d831ec7
›› Details & Tokenomics



Very speculative and theoretical potential data
Last updated: December 3, 2022, 9:35 am
›› USDT tokenomics and social media
 

Advantages of Tether

+ The world's biggest stablecoin.
+ Been around for a long time.
+ The customer service operates 24/7.
+ It is not volatile since it is pegged with the US Dollar.
 

Disadvantages

- The authorities might go after USDT, which can give troubles soon.
- People are not 100% sure if there is enough collateral.
- Its transaction fees could be lower.
- You cannot mine USDT, as with many other cryptocurrencies.
 

Costs

▪ Rated at 8/10

All USDT transactions take place on the Ethereum platform. Therefore, when you send USDT to a wallet from another blockchain, you will pay a transaction fee ranging from 25-40 USDT. On the other hand, there are zero transaction fees for sending Tether to another Tether wallet.

 

Reputation and Buzz

▪ Reputation rated at 9/10
▪ Buzz rated at 10/10

By visiting its Twitter page, you will notice it has quite a massive following. Besides having many followers, USDT has on average 50 responses in their comment section. A quick look at the comments, and you will realize there are queries about the virtual coin. Also, by searching the name #Tether, you will realize that people talk a lot about it, including news channels.

The blockchain is so popular that it has its subreddit. Similarly, it has a huge following on this social media platform. The subreddit is the best place to read about its latest trends. The moderators ensure that the discussions remain strictly about Tether in the subreddit. That means the moderators have realized that users frequent the group to learn more about the blockchain.

Following its popularity, the USDT management is considering adding it to Coinbase. Coinbase is the go-to place for most traders to buy and sell crypto. The move will further cement its popularity if they make that move soon.

 

FAQ

Is Tether transparent?

Yes, it is a transparent platform. All tokens are backed by Tether’s reserves.

Where can I use Tether tokens?

You can use this tokens anywhere as long as digital currency is accepted. The goal is to make it available worldwide, even in places where digital currencies aren’t accepted.

Who can use Tether?

Everyone can use this platform, including businesses and individuals. Individuals can enjoy it through Tether enables platforms. On the other hand, businesses can use it within the digital currency ecosystem, thus integrating it in ATMs, financial services, payment processors, wallets, and exchanges.

Do I have to go through the KYC process?

Yes. It's necessary to go through the know your customer approval process to get and redeem USDT, CNHT, and EURT.

How do I know my Tether tokens are secure?

It is built on secure open blockchain technologies, and it adheres to strict and secure global government laws. All your tokens are backed by Tether’s reserves and are pegged at 1 to 1 with the matching fiat currency.

What real-world currencies does Tether support?

It supports US Dollars, Euros, and the Chinese yuan. All of these currencies are denoted as USDT, EURT, and CNHT. While USD Tether is without a doubt the main stablecoin among the three, the Euro Tether is growing in acceptance and usage over time.

 

History of Tether

24th of October, 2022
The Near Stablecoin called USN is having risky characteristics and the Near foundation recommends to shut it down. They have now issues a grant of 40M USD, called the USN Protection Programme, which can help current investors to transfer their USN to USDT, free of charge. The only thing you have to pay is the gas fee.

›› Trade Tether here›› Buy/Sell Tether here

Screenshots from Tether

Click for larger image
 

More sites where to buy/sell/trade Tether

Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
USDT/USDT, USDT/USDT, ETHW/USDT
USDT/EUR, USDT/GBP, USDT/USD
USDT/BIDR, USDT/BRL, USDT/DAI, USDT/IDRT, USDT/NGN, USDT/RUB, USDT/TRY, USDT/UAH
USDT/BRL, USDT/HUSD, USDT/RUB, ZRX/USDT
USDT/BTC, USDT/MANA, USDT/ADA, USDT/BSV
USDT, USDT/EUR, USDT/USD
USDT, USDT/USDC
USDT/TUSD, USDT/USDC, USDT/DAI, USDT/BRL
USDT/USD, USDT/TRY, VATRENI/USDT
USDT/USD
USDT, USDT/FA, USDT/HEME
CAD/USDT
USDT/USD, USDT/AUD, USDT/AED, USDT/CAD, USDT/CHF, USDT/EUR, USDT/GBP, USDT/JPY
USDT/USD
USDT/USDK, ZYRO/USDT
USDT/nUSD, MFAM/USDT
USDT/USDT, NEO/USDT
USDT/MXNT, MXNT/USDT
USDT/USD CFDs
 

Tether details and tokenomics

Tether Ticker: USDT
ERC20 Contract address: 0xdac17f958d2ee523a2206206994597c13d831ec7
SOL Contract address: Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB
BSC Contract address: 0x55d398326f99059ff775485246999027b3197955
Type of crypto: ethereum-token
Resources & Social media
 

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Tether Newsflash
    Tether swaps Solana for EthereumTether swaps Solana for Ethereum
    Saturday, 19 Nov 2022 10:20 am
    Tether has announced a $1bn USDT swap, moving a massive amount of coins from the Solana network over to Ethereum. This on-chain swap (which are used to move USDT from one blockchain to another) has likely been prompted by the ongoing issues surrounding Solana in the wake of the FTX and Alameda meltdown. But with ambitious plans ahead, Crypto Lists isn't writing off SOL just yet. If you want to get involved when the prices are super low, then Sign up for MEXC Global he...
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    USDT and USDC on Solana back on trackUSDT and USDC on Solana back on track
    Thursday, 17 Nov 2022 11:24 pm
    While Binance is under investigation and is 'a walking time bomb' according to Nouriel Roubini, CZ made sure that USDT and USDC transactions over the Solana network on Binance were temporarily suspended for three hours, between 12:05 and 15:05. Crypto Lists speculate that the downtime was due to some trading tick size adjustments, something that OKX did two days ago. Circle, the organisation behind USDC, was quick to...
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    USDT and other stablecoins begin to settleUSDT and other stablecoins begin to settle
    Friday, 11 Nov 2022 4:43 am
    Due to the commotion with FTX, lots of stablecoins depegged slightly, but the volatility seems to have settled somewhat. Markets have recovered slightly since the events of Tuesday and Wednesday, with a 5% gain in market cap overall.Time will tell whether we're set for another fluctuation. USDT and others remain good options for those wishing to wait to enter the market when prices are suitably low. If you want to begin your journey into crypto, you can Sign up for eToro here...
    Read the full newsflash


    Tether launching GBP-pegged stablecoin GBPT in JulyTether launching GBP-pegged stablecoin GBPT in July
    Wednesday, 22 Jun 2022 12:26 pm
    Just a few days after Circle announcing the release of EUROC, Tether counters with launching a sterling based stablecoin. Similar to USDT, the name for the upcoming release will be GBPT and it is pegged 1:1 against the British pound. In early July you can expect to be able to spread your exchange rate risk with having GBPT in your crypto wallet. Sites such as Kucoin (review) will have it and you can sign-up for a free Kucoin account here...
    Read the full newsflash


    Kucoin release Luna 2.0 futures: LUNA/USDTKucoin release Luna 2.0 futures: LUNA/USDT
    Tuesday, 31 May 2022 5:45 pm
    For those into leverage trading, that is now possible with Luna 2.0 and Tether (USDT) through Kucoin (review). You can set the leverage between 1x (so no leverage) up to 20x. You can go both long and short in Luna 2.0 and if setting a take profit and stop-loss, it's simple to handle the position. Kucoin shows the amount of long and short positions, that varies constantly. While writing this - 60% are long in LUNA and 40% are short. Keen on trying? Sign-up for Kucoin today and give...
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