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What is Tether?

Tether (USDT) belongs to a new group of cryptocurrencies called Stablecoins, whose value remains constant regardless of the market conditions. Tether is backed by various fiat currencies like the US Dollar, Euro and Japanese Yen. In particular, one USDT is backed by the US Dollar in a 1:1 ratio, making its value always equal to $1. Tether builds the bridge between the fiat and cryptocurrencies by offering stability and functions as a store of value.

USDT is was issued in July 2014 as Realcoin and later renamed it to Tether in November the same year. Tether was initially issued on the Bitcoin blockchain via the Omni Layer Protocol. Currently, USDT is being issued on various chains such as Ethereum, EOS, Algorand and Tron. The firm behind USDT, Tether Ltd., claims that all the issued tether tokens are backed by the reserves and publishes regular updates on the reserves.

USDT is widely popular in the crypto community and traders use tether to enter or exit a market. Tether is also accepted at select merchants for purchasing goods and also facilitates cheaper cross-border transactions. Tether is the cryptocurrency to pick if you entering the crypto world and ChangeHero makes it easier. You can buy USDT with credit card on ChangeHero in less than 15 minutes. Go through a simple verification procedure and you are good to go. We provide the best rates for your USDT purchase.

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