USDT- the USD in crypto world
Tether USD , short for USDT, belongs to a new kind of cryptocurrencies called stablecoin that aims to keep cryptocurrency valuations stable, as opposed to the wide swings observed in the prices of other popular cryptocurrencies like Bitcoin and Ethereum. That would allow it to be used as a medium of exchange and a mode of storage of value, instead of being used as a medium of speculative investments. Unlike most cryptocurrencies, Tether guarantees that usdt is always tied to the value of the US dollar, which is always valued at a 1-to-1 ratio with the US dollar. And claims that every USDT token issued, they will backed by a US Dollars in their reserve account. Users can exchange USDT to USD for 1:1 redemption at any time.
Part 2 Issue principle of USDT
USDT is issued on the Bitcoin blockchain via the Omni Layer Protocol. Omni is arguably the first 2.0 currency on the market based on the Bitcoin blockchain. Therefore, the USDT transaction confirmation and other parameters are consistent with Bitcoin. USDT can be transferred, stored, spent, just like bitcoins or any other cryptocurrency, users can transact and store tethers with any Omni Layer enabled wallet like Ambisafe, Holy Transaction or Omni Wallet.
Part 3 the development history of USDT
In July 2014，The precursor to Tether, originally named “Realcoin”, was announced by Realcoin cofounder Brock Pierce as a Santa Monica based startup.
In Late November 2014, The company name Realcoin was changed to Tether
In February 2015, USD Tether officially issued. Bittrex and Poloniex was the first to support USDT.
It has been ranked top 10 in digital cryptocurrency since its release until now.
Part4 the characters of USDT
- Stability
USD Tether can be utilized as a means to keeping your portfolio more stable.
Because USD Tether is ‘tethered’ to the U.S. Dollar at a 1:1 ratio. It only floats with the US dollar exchange rate, so that to keep cryptocurrency valuations stable, making a good value-preserving token in the volatile cryptocurrency market.
2. Transparency.
Tether claims that its fiat reserve account is regularly audited to verify that its reserve accounts can actually back up the value of Tethers in circulation. The balance is updated regularly and is publicly accessible at all times. Additionally, all Tether transactions are recorded on the public blockchain.
3. Risk avoidance
For example, the price of Bitcoin has fallen in the past 10 days and will continue to fall in the next few days. Then at the beginning of Bitcoin’s decline, you can convert btc to usdt at a relatively high price. Then buy Bitcoin at a lower price as Bitcoin continues to fall. But this method does not work on other digital currencies. For example, supposing you want to exchange bitcoin to Ethereum in extreme market, if both cryptocurrencies are falling, you need to bear two losses! Therefore, when the price of the currency falls, we can immediately exchange the crypto to USDT to ensure that your assets do not shrink.
4. A way to make digital assets to real currency.
Every crypto traders can only exchange one crypto to another before the advent of USDT, they could not directly convert crypto into USD Dollars and other legal currencies. The emergence of the USDT provides a channel for users to exchange tokens to real currency. You can exchange your btc,eth,eos and all other crypto to USDT first, and then you can exchange the usdt to usd though Tether or other platform such as Epay. To convert to USDT is faster than other fiats.
Part 5 Where/How to buy USDT?
- Most of exchanges support to trade usdt with other cryptocurrencies such as btc,eth,bch, eos and so on. It means you can exchange usdt with cryptocurrencies. Such as Binance, Bitstamp and so on.
2. Part of exchanges support trading with fiats, you can deposit USD to buy USDT. Such as Wex,kraken,exmo and bittrex. Chinese users can buy usdt using Wechat pay. Alipay or online banking to buy usdt from OTC area. Such as Okex and HUOBI.
3. Bank wire to Bitfinex and Tether to buy usdt. But the KYC authentication is pretty difficult and transfer time will cost a long time.
4. There are lots of usdt individual sellers.
5. Buy cheap usdt from Epay
1 usdt= 1 usd on Epay, you can buy usdt from it for fee using wire transfer. Withdrawal fee is 1%+20 usd. Unlike other platforms, to buy usdt from Epay is to deposit usd then withdrawal usdt.
The advantage to buy usdt from Epay
Multiple deposit ways. Besides wire transfer, Epay supports deposit using Perfect Money,Advcash, Payeer and Fasapay. 1–2 minutes will be cost only.
Currency diversification. USD,EURO,HKD,GBP and JPY are supported. But to buy usdt, you have to exchange EURO, HKD, GBP and JPY to USD first on its site.
Simple and fast KYC authentication.
No maximum limits
Fast withdrawal to all trading platforms.
