What is Tethered and how does it relate to the world of cryptocurrency?

3 answers

• Dec 16, 2021 · 3 years ago
  Tethered, also known as Tether (USDT), is a type of cryptocurrency that is designed to be a stablecoin. It is pegged to a fiat currency, usually the US dollar, and its value is meant to remain relatively stable. Tethered is often used by traders and investors as a way to hedge against the volatility of other cryptocurrencies. It provides a way to store value in a digital form without the risk of significant price fluctuations. Tethered can be used on various cryptocurrency exchanges and platforms for trading and transactions.
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• Dec 16, 2021 · 3 years ago
  Tethered is a digital currency that is backed by a reserve of real-world assets, such as traditional currencies and cash equivalents. It is often used as a medium of exchange in the cryptocurrency world, providing a stable value that is not subject to the same price volatility as other cryptocurrencies. Tethered can be used for various purposes, including trading, remittances, and as a store of value. It is widely accepted on many cryptocurrency exchanges and is often used as a proxy for fiat currencies in the crypto market.
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• Dec 16, 2021 · 3 years ago
  Tethered, also known as Tether (USDT), is a popular stablecoin in the world of cryptocurrency. It is issued by a company called Tether Limited and is designed to maintain a 1:1 ratio with the US dollar. Tethered is often used by traders and investors as a way to move funds quickly between different exchanges or to protect their investments during periods of high volatility. It provides a stable and reliable means of transferring value within the cryptocurrency ecosystem. BYDFi, a leading cryptocurrency exchange, supports the trading of Tethered along with a wide range of other digital assets.
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