Buy Bitcoin with Tether at the best rate at CoinSwitch which lets you convert, compare and exchange or trade in the very same portal, which gives you a seamless trading experience. CoinSwitch not only aggregates the trading experience but also ensures trader a flawless and smooth delivery/5(). Dec 10, · Bitcoin isn't the most widely used cryptocurrency; in terms of trading volume, it's left in the dust by Tether (USDT). Tether is a stablecoin that's pegged to the US Dollar. In , Tether admitted in court documents that its stablecoin was only 74% backed by cash and cash equivalents. The BTC price affects the crypto market as a whole. With an increase in its price, the general interest of users in the industry always increases. The USDT price fully correlates with the current price of the US dollar. StormGain provides the option of trading the Bitcoin/Tether pair .
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We love you. On top of this, Tether also saw a dramatic surge in interest following Black Thursday in March , when the vast majority of cryptocurrencies collapsed in value in one of the biggest sell-offs in recent history.
As individuals and businesses looked to exit their volatile positions, demand for Tether soared—and has continued to this day, as traders use it to avoid volatility. Like Tether, there are a handful of other USD-backed stablecoins other there, as well as others that are pegged to the value of the US dollar but are instead backed by other assets. Though none of these have achieved the same absolute levels of success as Tether, many have surpassed it in other key areas. Tether, on the other hand, is just the third most used stablecoin in DeFi, as measured by the total value locked in DeFi applications.
Still, if Tether is facing challengers, it's validation of the broader concept of stablecoins. Other stablecoins aren't the only competition faced by Tether, though; central bank digital currencies CBDCs are looming large on the horizon.
Governments and regulators are turning their attention to stablecoins, too; in November , the British Chancellor of the Exchequer tweeted that the Treasury would publish a consultation to ensure that "new privately-issued currencies, stablecoins, meet the high standards we expect of other payment methods.
And in the US, a proposed Congressional bill would require stablecoin issuers to have a banking charter and earn regulatory approval from the Federal Reserve, FDIC and other agencies.
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News Coins. By Daniel Phillips 7 min read. In brief Bitcoin isn't the most widely used cryptocurrency; in terms of trading volume, it's left in the dust by Tether USDT. Widespread adoption by so many exchanges is perhaps unsurprising. The uncertainty in the crypto space makes maintaining relations with banks challenging. Whereas this cryptocurrency offers a stable alternative, with the same low volatility of the dollar.
There also some dangers to Tether cryptocurrency price predictions that need to be explained, including:. So, cryptocurrency news, reviews and websites are expressing increasing concern about the behaviour and practice of the company.
To prove they can do this, they have promised external audits. However, no such audits have taken place. Trading was suspended for a month while software was introduced to render the stolen tokens untradable. Cryptocurrency mining and tickers are becoming an increasing part of everyday life. Tether has been quick to gain momentum, for example. However, worries over dollar reserves, security and regulatory action are causing serious concern. Perhaps a new auditor will step in and tackle the current anxiety.
Perhaps this means we are on a path to the equivalent of a bank run, where Tether value could hit zero and customers would demand their fiat money back. As a result, it may be unable to prop up remaining cryptocurrencies.