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Review on Tether by Chris McDavid
Tether
Tether is probably the most popular stablecoin, a peer-to-peer digital currency with the price tied to the US dollar (1 Tether equals to 1 USD).
The project was criticized in 2018 because of a temporary decrease in the price (for a short period Tether cost significantly less than one dollar), but later developers managed to fix this issue. Since that moment the price was close to $1. There's a theory that people behind the Tether project were involved in the Bitcoin price manipulation but this allegation is yet to be confirmed officially.
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Pros
- Stable price
- Fast and cheap transactions
- Tether is globally accessible
- The ability to withdraw in fiat currency
Cons
- The coin is centralized
- Reputation issues
