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TagsHow does Tether differ from other cryptocurrencies?
Anmol baloniDec 17, 2021 · 3 years ago3 answersCan you explain the differences between Tether and other cryptocurrencies in detail?
3 answers
- Tether (USDT) is a stablecoin that is pegged to the value of the US dollar, while most other cryptocurrencies have a volatile value that fluctuates based on supply and demand. This stability makes Tether a popular choice for traders who want to hedge against market volatility or use it as a stable store of value.Dec 17, 2021 · 3 years ago
- Unlike other cryptocurrencies, Tether is backed by reserves of fiat currency, such as the US dollar, held in a bank account. This ensures that each Tether token is fully backed by a corresponding amount of fiat currency, providing a level of stability and trust that is not present in other cryptocurrencies.Dec 17, 2021 · 3 years ago
- BYDFi, a digital currency exchange, offers Tether as one of its supported cryptocurrencies. With BYDFi, users can easily trade Tether for other cryptocurrencies or fiat currencies, providing a seamless and convenient trading experience.Dec 17, 2021 · 3 years ago
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