Review on Tether by Albert Smith
Tether currency
Tether is a stable cryptocurrency based on Fiat cryptocurrency, tether is the most popular stable digital currency in cryptocurrency ecosystem. This currency has the highest daily trading volume after Bitcoin. The Tether token was first released on the Bitcoin blockchain using an Omni Layer platform, although it has since been installed on various other blockchains such as ethereum blockchain, Tron, EOS and Algorand. One token is held by the company for each token and is claimed to be a cash token. Because these reserves are the secret of Fiat's currency in the traditional banking system that supports tether tokens, it can be difficult to maintain transparency. So Tether strives to provide full transparency about its reserves by publishing financial and accounting statements and adapting them to the tokens that are visible to everyone on blockchains.
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Updated 3 years ago
Rating changed from 5 to 3
tether has an annoying feature, that new currencies are always offered and although it is decentralized, the company has the ability to freeze users' tether inventory, which involves the use of risk. Of course, this currency is the most famous stablecoin on the market and traders all consider it the dollar of the crypto world.
Of course, in the many years that this currency has been active, there has been no serious problem for it and it has a good history.
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Pros
- It is currently the most reliable cryptocurrency and has a stable price.
Cons
- Currency backing is real money, and if the company goes bankrupt, there is a possibility of losing assets
