Bitcoin, Ethereum, Litecoin and other crypto-currencies are excellent for online payments due to Blockchain facilitating transaction accounting. Their transparency at the moment has no analogues in any equivalent. But is it possible to actually keep money in them, given their high volatility? The fact that these currencies are not tied to any economy, worries many.
That’s where Tether comes to the rescue – a project that allows you to easily trade in the currency of the currency, converting them to cryptonyms. Tether is a regulated crypto currency that is maintained by large exchanges and ranks 15th in the ranking with a maximum market capitalization of about $ 2 billion.
In fact, the virtual dollar?
Tether – crypto currency, which was developed as a cryptographically protected equivalent of all conventional currencies, taking into account the dollar. In view of what has been said, there are some main advantages of using Tether in comparison with other crypto-currencies.
- Transit Cryptocurrency: In essence, Tether can convert ordinary currencies to customers cheaper and faster than bank payments. Also, because of the use of Blockchain, which provides payments, Tether is an advantageous way to trade;
- Support: Numerous platforms that work with crypto currency have significantly expanded their capabilities after Tether integration. Platforms that could not use the US dollar could use Tether, thereby expanding their capabilities;
- Excellent reserve: Tether is a reserve fund, which provides stability of the market in coins. Reserve funds constitute the equivalent number of coins in circulation.
Risks Relating to Tether Limited
There are doubts that Tether Limited, the company behind Tether, has no reserves for backing up all funds in circulation. Claims that the company does not have dollars to support Tether need to be carefully examined, because if they are truly confirmed, this can have a disastrous effect on the trust of people who transfer their funds to the company.
Tether remains consistent in its progress. According to Tether, the verified crypto currency, and in their view, the uncertainty surrounding the dispute over Tether is not suitable for crypto-currencies in general, because trust remained high from the outset.
So, what is the verdict?
It would be foolish not to recognize Tether as a convenient tool of exchange for crypto-currencies. crypto-currency. Even now, traders can use Tether to keep part of their income in a secure digital store that does not suffer from sudden price fluctuations. These funds can be withdrawn at any time, through an exchange on the Tether website.
However, as always, it is recommended not to invest in Tether more than you can afford to lose, because the technology is still in its infancy. And as for doubt, only time will tell if Tether Limited supports its promise to have a dollar in reserve for each Tether released.