Review on Tether by LUIS RIVERO R
The controversial stable currency. TETHER.
This is one of the most controversial stable coins in the cryptocurrency market considering the market share it holds, it is the third cryptocurrency by market capitalization.
-Its main characteristic is to be tied to the dollar 1: 1, according to official information each token issued is backed in dollars.
-According to special reports from the same tether foundation, it has just $ 0.75 as a backup for each asset issued, in addition to this, its relationship with Bitfinex causes mistrust since they may simply be increasing the volume due to being dependent on the aforementioned exchange.
In general Tether is the main stablecoin in the market occupying an important share, many transactions are made with this asset, which mostly depends on the trust of its holders. Its biggest flaw is the lack of clarity in the issue of each token since it is not clear if they really have a backup. It is still in use and is one of the projects that is growing the most.
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Pros
- Currently available in various chains, ETH, TRX, EOS, among others.
- Theoretically 100% backed.
- Compatible with multiple wallets and listing on almost all encryption exchanges.
- You can send to any paste in the world the equivalent amount in dollars without restrictions.
Cons
- Problems with the issue of these assets as there is research that claims that Tether is not 100% backed.
- More and more tokens are launched to the market and many users show concerns.
- Some doubts were created when they decided to issue tokens on the TRX network.
- There are multiple reports of possible fraud by Tether.
- Maintain cryptocurrencies to individuals and companies without depending on market volatility.
