[STEP-BY-STEP GUIDE] VIDEO SHOWING HOW to TETHER or CONVERT YOUR FUNDS TO USDT ON BINANCE
– Market Volatility doesn’t really affect USDT, but, I wouldn’t advice you to leave it for far too long in USDT.
Tether (USDT) is a cryptocurrency with a value meant to mirror the value of the U.S. dollar. The idea was to create a stable cryptocurrency that can be used like digital dollars.
Like other cryptos it uses blockchain. Unlike other cryptos, it is [according to the official Tether site] “100% backed by USD” (USD is held in reserve) [this has changed slightly, please see the update below].
i.e. every Tether is supposed to be backed by dollars kept in reserve in a 1:1 ratio (this being a big selling point and a potential problem in the otherwise rather untethered and decentralized crypto space).
Ideally, this means Tether trades at $1 on all exchanges and can be used in place of a dollar. However, in practice, the price tends to fluctuate a little.
The primary use of Tether is that it offers some stability to the otherwise volatile crypto space and offers liquidity to exchanges who can’t deal in dollars and with banks.
With USDT you can, in theory, move into a coin that holds a stable value like USD… even when you are on an exchange that doesn’t deal in fiat! That is a big deal on its own, but it gets even better. Many exchanges also offer USDT as a trading pair, thus allowing you to buy coins with a coin that mirrors USD. That is very useful (especially when Bitcoin’s price is volatile).
USDT on BINANCE:- ⤵️
Binance is one of the best places to buy Tether USDT, -0.07%. Registration is quick and simple, and the exchange offers very good liquidity – it’s likely you’ll be able to find Tether on Binance at the best price available, and your trade will complete within seconds. Binance also lists a huge selection of other cryptocurrencies, so you can easily convert your USDT to another coin later.
RECOMMENDED AFFILIATE LINKS:- ⤵️
DISCLAIMER: My content is never financial advice, just offering my opinion to the general public. Feel free to ask questions.
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