What is USDT coin and how does it work in the cryptocurrency market?

3 answers

• Dec 19, 2021 · 3 years ago
  USDT coin, also known as Tether, is a type of cryptocurrency called a stablecoin. It is designed to maintain a stable value by being pegged to a fiat currency, such as the US dollar. Unlike other cryptocurrencies that experience significant price volatility, USDT aims to provide stability and act as a digital representation of traditional currency. It is widely used in the cryptocurrency market for trading and as a store of value.
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• Dec 19, 2021 · 3 years ago
  USDT coin is a stablecoin that operates on the blockchain. It is backed by reserves of fiat currency, which means that for every USDT coin in circulation, there should be an equivalent amount of US dollars held in reserve. This backing is intended to provide confidence in the stability of USDT's value. USDT can be used for various purposes, such as trading, remittances, and as a hedge against cryptocurrency market volatility.
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• Dec 19, 2021 · 3 years ago
  USDT coin, also known as Tether, is a popular stablecoin in the cryptocurrency market. It is issued by Tether Limited, a company that claims to hold reserves equal to the number of USDT coins in circulation. However, it's worth noting that there have been concerns and controversies surrounding the transparency and auditing of Tether's reserves. Despite these concerns, USDT remains widely used due to its convenience and liquidity in the cryptocurrency market.
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