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USDT is a stable coin (stable-value cryptocurrency) produced by Tether’s Hong Kong-based firm that mimics the US dollar price. The token is pegged to the USD by keeping reserves of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills equal in USD value to the amount of USDT in circulation.

Known initially as Realcoin, a second-layer cryptocurrency token created on top of Bitcoin’s blockchain using the Omni platform, it was then renamed USTether and, ultimately, USDT. USDT was subsequently upgraded to function on the Ethereum, EOS, Tron, Algorand, and OMG blockchains, in addition to Bitcoin’s.

USDT’s stated goal is to combine the general nature of cryptocurrencies (which may be transferred between users without the need of a trusted third-party middleman) with the enduring value of the US dollar.

If you’re wondering where to purchase Tether Cryptocurrency, the major exchanges are presently Binance, FTX, OKEx, Huobi Global, and CoinTiger.



Brock Pierce, Reeve Collins, and Craig Sellars founded USDT in 2014.

Brock Pierce is an entrepreneur who has co-founded many high-profile ventures in the cryptocurrency and entertainment sectors. In 2013, he co-founded Blockchain Capital, a venture capital company that had raised more than $80 million by 2017. Pierce was appointed director of the Bitcoin Foundation in 2014, a non-profit organization dedicated to the development and promotion of Bitcoin. Pierce also co-founded Block. One, the firm that created EOS, one of the most popular cryptocurrencies on the market.

For the first two years of Tether’s existence, Reeve Collins served as CEO. Previously, he co-founded many successful businesses, including the online ad network Traffic Marketplace, the entertainment company RedLever, and the gaming website Pala Interactive. Collins will be the CEO of SmarMedia Technologies, a marketing and advertising technology business, in 2020.

Craig has been a member of the Omni Foundation for six years. Its Omni Protocol enables users to build and exchange smart-contract-based assets and currencies over the Bitcoin network. Sellars has also worked with Bitfinex, Factom, Synereo, and the MaidSafe Foundation, among other cryptocurrency businesses and organizations.


What Makes Tether Cryptocurrency So Special?

The distinctive characteristic of USDT is that Tether guarantees that its value will stay linked to the US dollar. Tether claims that every time it issues new USDT tokens, it adds an equal number of USD to its reserves. In this way, it’s guaranteeing that USDT is entirely backed by cash and currency equivalents.

Because of the crypto markets’ notoriously high volatility, cryptocurrencies may increase or fall by 10-20 percent in a single day, rendering them untrustworthy as a store of wealth. USDT, on the other hand, is immune.

This feature makes USDT a haven for cryptocurrency investors: they may park their holdings in Tether during times of extreme volatility without fully cashing out into USD. Furthermore, USDT offers a simple method to transfer a US dollar equivalent across regions, nations, and even continents using blockchain. But, without relying on a sluggish and costly intermediary, such as a bank or financial services provider.

There have been disputes about Tether’s statements about their USD reserves, which have sometimes disrupted USDT’s pricing, which has dropped as low as $0.88 at one point in its existence. Many people have expressed worry that Tether’s reserves have never been properly audited by an independent third party.


Total Number of Tether Coins in Circulation?

There is no hard-coded restriction on the overall quantity of USDT. Since it belongs to a private business, its issuance is potentially restricted solely by Tether’s own rules. However, since Tether claims that each USDT is intended to be backed by a single US dollar, the number of tokens is restricted by the company’s actual cash holdings.

Furthermore, Tether does not reveal its issue schedules in advance. Instead, they provide daily transparency reports that detail the entire amount of their asset reserves and liabilities, the latter of which corresponds to the amount of USDT in circulation.

According to Tether, there are approximately 14.4 billion USDT tokens in circulation as of September 2020, backed by $14.6 billion in assets.


How Secure Is the Tether Network?

USDT does not have its blockchain. Instead, it functions as a second-layer token on top of the blockchains of the following cryptocurrencies: Bitcoin, Ethereum, EOS, Tron, Algorand, Bitcoin Cash, and OMG, and is protected by their respective hashing algorithms.


Where Can I Purchase Tether?

Anyone can purchase Tether on a variety of cryptocurrency exchanges. USDT’s average daily trading volume often equals or surpasses that of Bitcoin. It is trendy on exchanges where fiat-to-crypto trading pairings are unavailable since it offers a realistic alternative to USD.