The digital currency market is developing rapidly, so not all its members are always able to track the release of a new product. So, Tether (USDT) altcoin is one of the new projects of digital money. How to get Tether, and, also, the main features of this project is described in detail in this review.
The history of entering the currency market
The Tether (USDT) was integrated by Bitfinex in January 2015. The organization presented this project as a way to get around the problems that arise when the cryptocurrency is interacting with the traditional banking system.
In the same year, Tether (USDT) coins introduced Poloniex – one of the largest cryptocurrency exchanges. Investors of the exchange were offered to use the Tether digital dollar for carrying out transactions because it has certain advantages over other virtual money.
The currency can be stored not only on HolyTransaction or Omni wallets but also on other digital wallets.
The Tether digital dollar basic information
Of course, users have a question, what is Tether (USDT) and how it differs from other digital money presented in the international cryptocurrency market.
The Tether (USDT) is the first project that allows the use of traditional currency as Bitcoins. It is developed on the basis of the Bitcoin Blockchain and made it possible to combine in this specific currency the main advantages of fiat money and cryptocurrency. Also, thanks to the use of this technology, the company guarantees full transparency in the process of user transactions.
The Tether platform is built on the use of digital analogs of the US dollar and the euro and allows to ensure the stability of the currency quotation.
The Tether digital dollar is characterized by anonymity and decentralization. The first feature makes the use of virtual currency attractive from the point of view of taxation, and the second guarantees the absence of control by state bodies and individuals.
There is no centralized issuer in Tether (USDT), and any of the market participants can act in its role.
The Tether (USDT) actual rates
What is 1 Tether (USDT) – this is the question that primarily interests miners. The answer is simple – one unit of cryptocurrency is equivalent to one US dollar (1 USDT = 1 USD). The currency is linked to the euro in the same way. To recognize Tether, the symbol “T” is added to the name of the real currency. For example, on April 3, 2018, it is equal to one US dollar, or 0.00013665 Bitcoins.
However, it would be wrong to take the Tether (USDT) as a digital copy of the dollar, as the creators of the project in the license agreement indicated that the USDT currency cannot be considered a real electronic money type.
The company is supported by a trust fund located in Taiwan. The volume of transactions the Tether (USDT) is used daily, is estimated at $ 1 – $ 1,5 billion.
Features of the Tether digital dollar
Using Tether (USDT) gives you a number of advantages, including high speed of sending and receiving money to the web-wallet.
Another feature that distinguishes the digital dollar from other cryptocurrencies is the maximum binding to real currency and its partnership with other companies. For example, integration with Cryptsy made it possible to link to Bitcoin, and Tether’s cooperation with Coinsbank allowed for transfers via debit cards.
In addition, there are such features of Tether (USDT):
- Easy to use;
- Two-level protection;
- Ease of integration with other web-wallets and organizations;
- Decentralization and full transparency of transactions;
- Equal conditions for the use of the project by individuals and legal entities.
Tether (USDT) is often used by companies for doing business, which gives organizations the opportunity to quote prices in US dollars, making it unnecessary to convert Bitcoin into real currency.
The disadvantages of Tether (USDT) are only that for the purchase of crypto dollars for the traditional currency and the withdrawal of USDT it is necessary to pass verification. Moreover, documents proving the identity must be in English.
The Tether digital wallet creation
Right now we will find out what Tether (USDT) address is and how to get it.
To create a cryptocurrency wallet, you need to go to the official website of Tether (USDT) https://tether.to/.
To create an account, click “Sing Up” and complete the registration procedure by filling in all the required fields.
After registration, the user is required to confirm the e-mail and select a two-factor authentication method. This can be done by going to the “Security Page” section.
After all the necessary actions are fulfilled, the “Tether” (USDT) address appears in the “Add Funds” section. In fact, this is the address that you will use to receive the cryptocurrency.
To be able to buy Tether for real currency, as well as withdraw them, it is necessary to undergo a verification procedure. To do this, the user needs to open his profile settings and select the “Verification” section, then click on “Individual Verification” and fill in the personal information.
In addition to the official site, the Tether wallet (USDT) has also been developed for devices running Android and iOS operating systems.
Receiving Tether (USDT) cryptocurrency
Now you know everything, except how to get Tether (USDT). There is nothing complicated. To get the currency from the bank account, you need to select “Fund from Bank” and follow everything that is indicated in the instruction. To send the currency, click on “Send Funds”.
Users can buy Tether (USDT) using the official site or one of the crypto-exchanges. The minimum amount of replenishment is 5 USDT. Commission is charged in the amount of 1 USDT for the wallet replenishment. Commission for the withdrawal of funds is not charged.