Cryptocurrency Tether (USDT): review, description, characteristics, how to buy or sell

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Tether (USDT) is the cryptographic version of the US dollar. All Tethers were originally issued on the Omni Layer Bitcoin blockchain and therefore exist as tokens. Each Tether issued for circulation is backed by a one-to-one ratio (ie 1 Tether = 1 USD) by the corresponding currency in the currency held by Hong Kong Tether Limited. All Tethers can be exchanged for the main monetary (fiduciary) currency in accordance with the terms of service of Tether Limited.

An interesting aspect of Tether is its path to reaching consensus (network interoperability) through Proof-of-Reserves. This means that the amount of real money (dollars, euros, yen) held by Tether Limited must match the amount of Tethers in circulation.

Tether (USDT) is ranked 4th in the ranking of cryptocurrencies by market capitalization (as of December 19, 2021). The cost of all tokens is $77,217,072,702. The emission is currently 77,316,869,536 coins.

In theory, Tether should be $ 1. But, in reality, the USDT / USD rate is not constant and can be traded around this mark. The maximum value of the Tether cryptocurrency against the dollar is 1.06; the minimum is 0.91. Average volatility is 1-2%.

Video review of Tether (USDT) from the EXMO exchange:

USDT / RUB chart and rate

Exchange rate chart USDT / RUB on Binance:

Buying and Selling Tether

How to buy, sell, exchange USDT for fiat money or other cryptocurrency:

✅  Using exchangers like Prostocash, Baksman, 60cek.

✅  On cryptocurrency exchanges. Stablecoin Tether is listed on the following trading platforms:

  1. Binance.
  2. Currency.com.
  3. EXMO.
  4. Bybit.
  5. Huobi.
  6. FTX and many others.

Technical characteristics of the Tether cryptocurrency

Key features and overview of Tether cryptocurrency:

  1. Maximum number of coins: limited only by the amount of money deposited into the Tether Limited account.
  2. The total number of coins issued is US $ 2,280,109,970 (US $ 2.28 billion).
  3. The first “block” was released: March 12, 2015
  4. Number of blocks: The cryptocurrency has no transaction blocks.
  5. Average time between blocks: no data.
  6. Block prize: no prizes.
  7. Block size: no.
  8. Algorithm: SHA 256 (Bitcoin Algorithm).

Review:Online Cryptocurrency Exchangers“.

Tether (USDT) spread

Tether is distributed in the following ways:

  • customers transfer funds (e.g. dollars) to their Tether Limited bank account;
  • Tether Limited issues an appropriate number of Tethers, which is equal to the amount paid to the company’s bank account;
  • multiple exchange of Tethers or their transfer between portfolios and exchanges;
  • users contribute Tetheres to the Tether Limited portfolio;

Cryptocurrencies have almost zero privacy. When depositing money into a Tether Limited bank account, a user must go through a lengthy KYC process in which they verify their identity, place of residence and the source of the potentially disbursed funds. Thanks to this, Tether Limited knows almost everything about its users.

The transaction confirmation time is relatively long and sometimes takes several hours. Currently, due to the increase in the number of transactions per second, not all transfers go directly to the block. Tether runs on the BTC blockchain quite fast and transactions take little time.

Continuation article: “How and where to buy cryptocurrency for rubles.”

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