Review on Tether by Ayu Anggraini

Name: Tether
Item: Tether
Rating: 2

May 10, 2020

Tether USDT review

Token Tether (USDT) is released by Tether Limited, a company located in British Virgina Island. Tether was founded by Jan Ludovicus van der Velde, who also served as CEO of Bitfinex and Tether Limited. Of course for traders and lovers of crypto currency, USDT or Tether is already very familiar. Because so many exchanges that use Tether in crypto currency trading such as Bitfinex, Binance, System koin, and many others. USD Tether (USDT) is a cryptocurrency token claimed by its creator to be equivalent to 1 US dollar per token.
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However, since the hack problem that occurred in Bitfinex involving Tether, it is clearly known from the audit that Tether does not guarantee a 1: 1 ratio to the real USD value, and for the crypto currency community, Tether has not been too transparent about where they will store USD backups and has not shown the results of professional audits to the public to this date. Especially when bitcoin reaches $ 20,000 USD, many claim Tether is used to support the price of bitcoin continuously by buying it while it is still cheap and continuing to print USDT to buy bitcoin on the market. This matter is still controversial until now.
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In my opinion traders and investors engaged in the blockchain field can choose another stable coin that has clearer audit results and backs up with a USD dollar value. Because choosing an investment or holding a tether holding will trigger risk in the future.
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