Don’t fret. We’ve compiled a FAQ for you below—dive in and explore.
Tether is a stablecoin that’s always priced at $1. It is a blockchain-based cryptocurrency and one of the most prominent and most in-demand coins in the space. Tether issues tokens on Bitcoin (Omni and Liquid Protocol), Ethereum, EOS, Tron, Algorand, SLP, and OMG blockchains
Tether is either used for hedging risks against crypto market fluctuations or in various trading pairs. Tether pairs are usually very liquid, which has contributed to their popularity.
Tether keeps its price stable by backing its USDT tokens with an equivalent amount of traditional fiat currencies held in a designated bank account. On March 14, 2019, Tether disclosed that they had changed the backing to include loans to affiliate companies.
Tether was founded in July 2014 by Brock Pierce, Craig Sellars, and Reeve Collins. Tether was initially known as “Realcoin.” The Paradise Papers leaked in November 2017 named Bitfinex officials Philip Potter and Giancarlo Devasini as responsible for setting up Tether Holdings Limited in the British Virgin Islands in 2014.
You can store USDT tokens in your CoinSmart account.