Tether (USDT)

The Tether cryptocurrency was designed in order to keep the price fluctuations of cryptocurrencies in place. Moreover, it looks like an odd coin because of its value and peg to the US dollar – which is why it is not considered an investment but is more like a deposit in a (risky) bank accounts which pays 0% interest.

In reality, Tether is riskier than regular cryptocurrencies and offers no gains. The main use for it is as an alternative to fiat – meant for traders and investors. And if you are still asking yourself why this is the reason, let’s list the benefits of Tether:

• Transaction Times: Everyone knows that USD deposits and withdrawals can last anywhere from 1 to 4 business days – or more if the transaction occurs after-hours, for weekends, holidays etc.
• Transaction Fees: USD transfers through SWIFT (Society for Worldwide Interbank Financial Telecommunication) are known to be expensive. The cost is anywhere from $20 to an average of $30. IF you are using Tether, you have zero transaction fees between its wallets.
• Price Stability: A stable base currency is always useful, especially for traders of smaller altcoins. The US dollar is considered to be relatively stable. By using USDT, traders have only one concern – the price of the cryptocurrency they are buying.
• Staying Off The Grid: For many, the real benefit of Tether is staying on the sidelines. Therefore, it definitely makes sense for a trader to convert their position to USDT and withdraw it to their personal wallet for safekeeping. When the buying opportunity occurs, the same trader can quickly transfer their USDT back to the exchange and take advantage of it (instead of waiting days for a bank wire to clear).

If Tether sounds like an interesting way for you to buy crypto, you should create a Tether account and get a Tether wallet.