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Tether USD (USDT) - what is it and how is it different from USD?
17-07-2023 Tether (USDT) became the first stablecoin to appear on global cryptocurrency markets and became the leading "stable" cryptocurrency backed by the US dollar (USD).
Tether (USDT) is a US dollar-backed digital currency based on blockchain technology. Anyone with a cryptocurrency wallet and an internet connection can use USDT. This currency is backed by US dollars, which are held by Tether Limited in bank accounts (regular audits of the USDT security in these accounts) and pegged at a 1:1 rate.
The company can issue 1 USDT only after it receives 1 dollar in its bank accounts.
Tether USDT can be used for the following purposes:
✔️ Cryptocurrency trading
✔️Deposits ✔️Lending ✔️International transfers of own funds The key differences between the US dollar (USD) and the stablecoin USDT are: ✔️ Decentralization ✔️ Scope of use ✔️ Spread in the field of cryptocurrencies ✔️ Commissions during use
For many years in a row, users have noted that using Tether (USDT) is more convenient and profitable than fiat dollars.
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