- 1 What is Tether (USDT)?
- 2 Tether (USDT): History
- 3 How Does Tether (USDT) work?
- 4 How to buy Tether (USDT)?
What is Tether (USDT)?
Tether is a cryptocurrency that represents real currencies in a Blockchain market. It is an open source, peer to peer, fully decentralized cryptocurrency which is issued on the Bitcoin blockchain through the Omni Layer Protocol and is backed by fiat currency kept by the issuing company, Tether Ltd.
Tether (USDT): History
The tether was introduced by a Chinese company named Tether Limited in February 2015. The company is incorporated in Hong Kong with offices in the United States. The tether was originally based on the Bitcoin blockchain ecosystem then it transitioned to the Litecoins blockchain ecosystem in June 2017. As of May 2017, over 55 million Tethers were in circulation and $20-40 million worth of transactions per day were taking place.
The main aim of Tether is to facilitate transactions with a rate fixed to the UnitedS States Dollar. The tether can be stored as a value, used as a medium of exchange and has a fixed unit of account like a traditional fiat currency.
How Does Tether (USDT) work?
Tethers exist on blockchains through the Omni Protocol. The Omni Protocol is an open source software that interfaces with blockchains to support for the issuance and redemption of cryptocurrency tokens. The user has to submit fiat currency to Tether limited after that create the Tethers and credits the Tether wallet of the user with equal USD Tether. The users have to follow some simple steps to transact with Tethers. Bitcoin-like procedure where they can send and receive Tethers from other users of this wallet. They required to submit the receivers wallet address and the number of Tethers to be transferred and the transactions will take place through peer, pseudo-anonymous, open source Bitcoin-based platform.
How to buy Tether (USDT)?
First of all, you have to create a wallet to keep your coins safe. Then name your wallet, for example ‘my new wallet.’ Then you need to purchase Ethreum or Bitcoin by using Coinbase as we are unable to buy Tether directly. After that trade your bitcoin for Tether.
Tether (USDT) Price Prediction 2018
USDT can be a profitable investment option. Tether price equal to 1.037 USD at 2018-01-17. If you buy Tether for 100 dollars today, you will get a total of 96.416 USDT. Based on our forecasts, a long-term increase is expected, the price prognosis for 2023-01-06 is 1.085 US Dollars. With a 5-year investment, the revenue is expected to be around +4.58%. Your current $100 investment may be up to $104.58 in 2022. The price today of Tether is $1.05, and the market cap value is $1,705,419,185. It has a current supply of 1,618,090,823 USDT and the $5,722,810,000. Tether (USDT) price today, Tether (USDT) where to buy, Tether (USDT) price chart, Tether (USDT) history, Tether (USDT) market cap, Tether (USDT) exchanges, Tether (USDT) mining, Tether (USDT) mining software.