Review on Tether by Robiul Islam
Tether has its place among cryptocurrency filling a niche where fluctuations…
Tether has its place among cryptocurrency filling a niche where fluctuations will not do. As with any cryptocurrency be vigilant and continue to research and keep your eye on the news for any information as you begin investing.
Pros
- USDT is a Tether, which is a cryptocurrency that is tied to a fiat currency for stability. Read on to understand what it is used for, why it was created, and why you might want to get some. It is a cryptocurrency released on the Bitcoin blockchain through Protocol Omni. Its value is exchange rate is fixed or tethered, to the value of the US dollar. The only reason why 1 USDT is actually worth $1 USD is that exchanges keep a reserve of USD to back every USDT in existence. USDT can be spent, traded, or transferred, like Bitcoins or any cryptocurrency. They can also be stored in specialized wallets that are Omni compatible.
Cons
- SWIFT (Society for Worldwide International Financial Telecommunication) transfers are expensive at $20-$30+. Especially if you are using a fiat that is not supported by the exchange because you are then adding a fee for Forex conversion and a percentage on the transfer. Tether charges zero transaction fees between Tether wallets. Cryptocurrencies are volatile when you want to purchase them buy with Tether, not another currency. Currencies are not stable enough as assets. Many exchanges do not take fiat but will take Tether. Taking no position while something is going on. “Cashing out” and waiting for another opportunity or the market timing to be right. Be ready with your Tether. No need to risk and leave money on exchanges.
