Is Tether a Stablecoin?

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Tether crypto is a popular asset on all rankings. You can see it is ranked 3d on the Coinmarketcap resource. Tether’s market capitalization is $67,9 billion, and the daily trade volume reaches $48,6 billion. What makes this asset so popular? Let’s find it out in this article.

The Essence of Tether

Tether USDT is a stablecoin. The name says for itself and means the stability of price. Tether is not subject to market trends and fluctuations, unlike all other crypto assets in the market. Being 80% supported by the US dollar reserves, this stable asset always has a value of around one dollar.

Tether is traded on all credible crypto exchanges. On centralized platforms, you can trade crypto-fiat pairs like USDT to EUR. If you check out this crypto-fiat pair on any crypto platform, you will see the current price of Tether in Euros. As of September 2022, the dollar-euro ratio has come to a line, so the price for the Tether Euro pair is 1,0033.

How To Use Tether?

Here are the options of how USDT is used:

  • Money transfers. It’s not a secret that crypto transactions are much faster and less costly than transactions through banking services. So many companies accept crypto payments and actively use USDT for this purpose.
  • Hedge risks. Crypto traders convert their investments into USDT to avoid sharp price drops, thus preserving their funds. 

You can buy Tether on the WhiteBIT crypto exchange. It is a centralized platform that allows for fist-crypto trading, staking, futures trading, bots, leverage, trading limits, etc. The possibilities WhiteBIT offers are endless. Once you register on the platform and pass KYC, you access all the exchange’s features and unlimited funds withdrawals. The platform provides everything necessary for efficient trading – crypto charts, calculators, stop-loss, and other instruments.