Tether Explained

The US dollar is the currency of the United States. US dollar is more than just a currency; it is a symbol of hope, wealth, and power. Due to USA’s global relations, powerful army, and advancement technology, the US dollar has achieved the power and value it holds today. But do you know there is crypto, Tether(USDT), that maintains its value close to the US dollar? Tether is a cryptocurrency hosted on the Ethereum blockchain. Despite the market value of the dollar going up or down, 1 USDT will always be equal to 1 US dollar(1 Tether = $1). 

Should You Invest In Tether?

  • It is easy to send Tether to anyone in the world. The crypto is quicker and has a less transaction fee. 
  • It is a stable coin. The value of the coin does not fluctuate much like other cryptos. It keeps its value around the US dollar.
  • The US is an established economy, and the value of the US dollar will always increase. And with an increase in the value of the dollar, the value of the coin will increase.
  • Many crypto exchanges give you the option to buy other cryptos using Tether. While some platforms like Vauld, help you earn an interest up to 12% p.m. for just holding out Tether.

Why Should You NOT Invest In Tether?

  • A reason to not invest in this coin can be the company behind it, Tether Limited. The company has not the best image in the market, and often people have raised trust issues on them. They have been subject to lawsuits quite a few times.
  • The coin has full control over the supply of its coins. In the future, if they flood the market with too many coins, it will lead to a sudden decrease in its price or total valuation.
  • While the original idea was to keep the price to $1, but the price has risen or fallen many times ever since its launch. 

Well, no Cryptocurrency is perfect. Each one has its advantages and disadvantages. Tether is a great coin. The idea to keep its value close to the US dollar is just wow!

It has a whopping market capitalization of $60 billion, making it the third-largest crypto. If you’re looking for a potentially safe coin to invest in, you should consider Tether. 

Related Articles