The tether cryptocurrency is linked to the value of the fiat currency USD, constituting the stablecoin of the US dollar – it is considered a stable cryptocurrency.
The tether USDT cryptocurrency listed on the Kanga Exchange is one of the most famous and valued stablecoins. It was created based on the ERC-20 standard. The value of the digital currency is 1: 1 to its fiat counterpart. The creators of the tether are programmer Craig Sellers and entrepreneur Brock Pierce. Initially, USDT was issued only on a dedicated Omni Layer blockchain related to bitcoin. We are currently dealing with the tether emission on many blockchains: Tron, Ethereum, Algorand, and Liquid.
Tether – A stablecoin tied to the value of the US dollar
There is no doubt that the tether – stablecoin tied to the value of the US dollar is an excellent choice for stable cryptocurrencies. Investors often consider USDT as a means to diversify their investment portfolio, securing profits against fluctuations in the rates of riskier cryptocurrencies. It is worth adding that there is one USD per USDT.
A 1: 1 ratio with a FIAT currency and high rate stability are key advantages of investing in the tether. The cryptocurrency is available on many blockchains (Ethereum, Algorand, Solana, Stellar, and TRON), proving its popularity and users’ trust. Let us add that USDT enables easy and safe transactions between various cryptocurrency exchanges. This fact makes tether used as a currency to perform fees in arbitrage trading tokens other than USDT.