Tether is a stablecoin pegged to the US dollar, meaning that the value of one USDT will only ever be that of $1.
Tether was created and issued by the Hong Kong-based company Tether, and maintains the network's value through holding an equal amount of dollars in reserves. For every USDT issued, one dollar will be held in reserve.
Considered to be the most successful stablecoin, Tether has been a resident fixture in the top 10 cryptocurrencies based on market cap.
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A stablecoin is a term given to a cryptocurrency that pegs its value to a fiat currency or commodity. In the case of Tether, its price is pegged to the US dollar, with each USDT in circulation represented by $1 in the company's reserve account.
As Tether becomes more widely accepted, there are an increasing number of businesses accepting USDT for goods and services. With its fast transaction times and resilience to volatility, USDT presents an excellent payment option both locally and internationally.
As the cryptocurrency is not susceptible to volatile price movements (due to its value being pegged to the US dollar), anytime is a good time to buy Tether.
Depending on how busy the network is it could take anywhere from 3 to 10 minutes to send USDT, however, when using Oobit Pay all USDT transactions are instant.