Review on Tether by gregori cordova
USDT is the best choice if you don't want to lose your purchasing power and protect yourself from market volatility
Most of the cryptocurrencies that exist today are characterized by their volatility. USDT is not one of them, since it will always have a value almost equal to the USD that we all know. This cryptocurrency is an ideal option, especially for traders, who after making their operations protect their assets by converting them to USDT and thus not worrying about future market fluctuations. That is why it is known as a stable currency, since its transactions are backed by the value of the dollar. also tether allows many exchanges to maintain their liquidity, protecting it from the volatility of the market itself. It was created in 2014 and although it was initially created to operate on the bitcoin blockchain, it later opted for an open source software called omni. Tether limited is the Hong Kong-based company behind the entire USDT project.
But not everything seems to be so transparent with this cryptocurrency, since since its inception it has been full of controversy since there are transaction volumes that do not correspond to the true ones, issuance of millions of these currencies, multiple demands, and audits that do not usually match reality. Despite being so controversial, it is the most successful stablecoin on the market and is in the top 5 of the best cryptocurrencies in terms of capitalization.
Pros
- It is the cryptocurrency of choice for most people to protect themselves from market volatility
- even most exchanges protect their assets in this cryptocurrency
- Since it is backed by a real-world cryptocurrency like the dollar, it will always be of almost equal value
- enables the exchange between real cash and cryptocurrencies in a simple and fast way
- uses a technology that offers a lot of security in transactions and that complies with international standards
Cons
- the supply of Tether increased exponentially in a matter of months which has caused much suspicion in the international community.
- it has been the victim of many lawsuits and audits that are not very favorable to them.
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Comments (1)
August 13, 2020
I think that it is not one of the best alternatives to protect capital, being a currency dependent on fiat money makes it very unstable (the truth is, I am antifiat) that is why I do not agree with these stable currencies.
