Review on Tether by francis fernandez
Tether: minimize the volatility of the digital market!
Crypto market investors as well as fiat trading regulars continually seek a conversion point for both assets.
The launch of Tether to the market represents a viable option for those who pursue this goal.
The Tether is a digital currency based on Bitcoin, launched on the market in 2014, which is mainly characterized by its stability because its value is linked to FIAT currencies such as the Dollar and the Euro. Its 1 Tether peg equal to 1 $ or 1Euro, means that its holders can use it as fiat money in the crypto industry.
This stability that Tether represents positions it in the first place in the world crypto market thanks to the support offered by fiat currencies.
The basic function of Tether is to serve as an intermediary between cryptocurrencies and fiat money.
The existing parity between Tether and its fiduciary value offers multiple advantages to its users, including:
* It is linked to the Dollar / Euro opens a range of possibilities to make payments and transfers worldwide; as this is a globally recognized Fiat coin.
* Avoid the volatility that by nature digital currencies that are not linked to a fiat currency have.
* Minimizes the risks of volatility when trading.
* The accounting system used is public and transparent based on the Tether equivalence; a mechanism based on Proof of Reserves that integrates the blockchain accounting system with the accounting of your bank accounts. This makes the 1: 1 equivalence of the parallel system possible.
* Allows transfers between users with relatively low conversion rates in relation to those used in conventional exchanges.
* Has significant use in the business world; by allowing you to carry out transactions in both cryptocurrencies and FIAT currency.
* Their currency can be used to quickly trade between different wallets
Pros
- The price of the Tether is linked to the dollar, a fiat currency with stable value.
- Users do not pay transfer fees in Tether wallets.
- Being linked to the value of fiat money has a stability in the market.
Cons
- The execution time of your transactions is not as fast as other blockchains on the market; taking even minutes.
