Finance

Interesting Facts About Tether (USDT)

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Among the abundance of different cryptocurrencies, the stablecoin Tether stands out with a huge market capitalization. Despite the fact that this option is clearly inferior to bitcoin or ether in its popularity, the desire to purchase this coin is gradually growing – USDT coins regularly fall into the top 3 and top 5 on various exchanges.

Let’s look at some interesting facts that may influence the desire to buy usdt with a credit card and no verification. This information will help both beginners and professionals who are interested in the cryptocurrency market for making money.

#1 — The Great Stability

The stability of this cryptocurrency is ensured by some factors:

  • the token exchange rate correlates with the US dollar as 1 to 1 (this way, it`s often called a crypto dollar);
  • each currency token is backed by a real dollar, which lies in Tether’s bank account (according to company representatives);
  • to create a coin, you need to deposit a US dollar into the company’s account — there are no other methods.

However, some sources claim that only a fifth part of the coins is actually backed by real dollars. However, we will talk about this later.

#2 — Name Changing 

In the past, Tether was called Realcoin and under this name, it was presented on the cryptocurrency market and was known to many. However, the development company carried out a rebranding, changing not only the title, but also completely rethinking the technology underlying the coin. The trick worked! Now Tether is the largest stablecoin in terms of market capitalization and is involved in 50% of transactions involving Bitcoins conducted worldwide.

#3 — No Mining!

Tether token was conceived as a stable and reliable cryptocurrency, an intermediate asset on a digital exchange for other coins. So, nowadays, USDT`s mining is impossible. The developers release tokens as needed, now in total, they created about 3 billion ones. 

#4 — Coin Assurance Mystery

The emission of Tether, unlike Bitcoin`s, is not limited. This is the main reason why there has been a constant debate about the extent to which Tether’s assets are backed by real money. Some sources familiar with the results of the company’s attestation claim that the share of “live asset” accounts for around 4%, and 65% is secured by commercial paper. Customers wonder why the network owners don`t reveal the secret of who is the borrower and what type of loan was used. There are theories that the loan was provided by one of the Chinese financial companies.

 

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