USDT, also known as Tether, is a cryptocurrency that’s designed to be a stable alternative to the US dollar. It’s a stablecoin, which means its value is pegged to the US dollar at a 1:1 ratio.
How USDT works
- USDT is a blockchain-based currency that’s intended to be less volatile than other cryptocurrencies.
- It can be used as a store of value, a payment method, and a transaction currency.
- USDT is useful for cross-border payments because it eliminates currency conversion and bank holdouts.
- It can also be used for e-commerce payments.
History of USDT
- Tether was launched in 2014 by Tether Limited, a Hong Kong-based company.
- The project was originally called Realcoin, but the name was changed to Tether shortly after launch.
- Bitfinex was the first major crypto exchange to offer Tether trading.
USDT uses cases
- To hold digital assets in a similar way to regular fiat currencies
- To easily exchange digital assets for other currencies
- To reduce volatility and make tokens a safer, more stable form of currency.
How to Sell Tether (USDT) for Fiat Currency
Learn what is Tether and how to sell USDT for fiat currency.