What is the peculiarity of the Tether cryptocurrency?
The idea of blockchain in itself is revolutionary – there is no more transparent system in the world that would enjoy the trust of people who understood what blockchain and crypto-currencies are. True, while crypto-currencies are viewed by people as a way of making money or a way of making transactions, but not as a means to store their savings. This is mainly due to the high volatility of digital currencies. Also, many are deterred by decentralization, yet people want to know the responsible person precisely when it comes to keeping their capital.
And here the users should pay attention to the Tether project. This cryptocurrency is regulated by several large stock exchanges (by the way, it occupies the 15th place in the top of the currency for capitalization), with its help it is possible to easily exchange fiat money for crypto-coins, and it is not subject to such sharp price jumps as the entire crypto market.
Is Tether the digital dollar?
This cryptocurrency was created as a cryptographically protected equivalent of all fiat currencies taking into account the dollar rate. Considering the above, it is possible to note a number of advantages of Tether in relation to other crypto-currencies:
- Transit Crypto-Currency – with the help of Tether users can transfer money to each other much faster and cheaper than using banks. All transactions are written to the blockchain, and this, of course, increases the confidence of users in such ways of transferring their funds.
- Support – many trading platforms that for some reason cannot work with fiat money can work with Tether. Thus, many platforms significantly expanded their capabilities after the integration of this cryptocurrency.
- Tether is a reserve fund that ensures the stability of the market in coins. The Fund maintains an equivalent number of coins in circulation.
Are there any risks?
There is an opinion that Tether Limited (as the Tether management calls itself) simply does not have a “dollar” opportunity to back up all assets that are in circulation. These rumors have not been confirmed yet, but if this happens Tether’s reputation will be significantly undermined, and the company’s 15th position in the rating on capitalization will remain a dream for the company’s management.
Instead of concluding
Not to recognize Tether as the most convenient way to date for exchanging fiat money for crypto-currencies is how not to recognize that there are crypto-currencies. Already today, investors can use this digital currency as a way to save part of their capital in a protected digital store that is not subject to killer price fluctuations. Its assets can be withdrawn from Tether at any convenient moment for the user by exchanging them on the official website.
At the same time, it’s all about the Crypto-currency, and when it comes to crypto-currency in your head, you always need to keep the word “risk”, because, in reality, no one can give at least some reliable forecast as to what will happen to Krypto Tomorrow. Therefore it is worth keeping in Tether, as well as in general in crypto-currencies as much as you can afford to lose.