Tether USDT- What is it and how does it work?
Tether USDT payment gateway for website
Tether is amongst the most popular stablecoins that have been used for years for crypto trading. Theoretically, it's unaffected by market volatility and hence it’s stable compared to changing valuation of other currencies.
StableCoin- Tether USDT
Tether is pegged to the US dollar and is a safe digital asset. Its valuation remains safe and the goal is tether should always maintain the same value as its peg. Regardless of the market condition, 1 tether is always traded for 1$.
Tether offers steady and reliable liquidity to crypto traders and offers them a cushion against volatile market changes. By market capitalization, the tether is amongst the top 3 largest cryptos. Its 24-hour trading volume stands at 89 Billion dollars and is among the most liquid cryptocurrency available in the market. Want to get a payment gateway for Tether USDT on your website? Unipayment accepts crypto payment systems and offers a crypto payment gateway for your website.
How do Tether works?
Tether issues digital amounts in tokens when the user deposits fiat currency into tether’s reserve. Fiat currency is a government-issued currency, backed by the government that has issued it. The received USDT can further be sent, stored and exchanged. As mentioned earlier, a tether is pegged to the US dollar. Hence, the user receives the same value of Tether for the fiat currency paid. That is to say, if the user deposits 50$ in Tether reserve, he/she would get 50 tethers token. When the user redeems tethers for fiat currency, tether coins are removed and destroyed from circulation.
Similar to other cryptocurrencies, tether moves across the blockchain. Tether tokens can be availed from the various blockchain platforms.
Is Tether a Good Investment?
Tether is much simpler to conduct everyday business with when compared to other Cryptocurrencies. Tether is a stable coin and doesn’t increase in value. Hence, from an investment point of view, it doesn’t make much sense. However, it is a useful store of value and is quite simpler to use. If you wish to avoid market volatility but want to secure value in crypto, investment in Tether is quite a good option. For companies that are solely based on BTC, it is difficult to create pricing schemas when the value of crypto keeps on changing every day. This is where crypto’s like Tether comes to use. They are stable and secure.
Investments in Cryptocurrencies are never guaranteed. However, Tether has never failed to honour a redemption request from any of its verified customers. Tether is the highest liquid crypto available in the market.
As long as tether has to offer transparency, liquidity and good collateral, it will be of great value to the digital asset economy. As a website, does your payment gateway support payments from USDT Tether? If not, connect with us at Unipayment. We offer a crypto payment gateway for seamless transactions.
How is Tether different from Bitcoin?
Tether is a stable coin while Bitcoin isn’t. There is no real-world commodity tied to Bitcoin while the tether is tied to USD. We can say that tether is centralized crypto and Bitcoin isn’t. For this very reason, Bitcoin is subject to high market volatility. Bitcoin is designed to make money and is more suitable for investments while tether is more appropriate as a store of value.
The future of Tether shows a promising development in the sector of the digital asset economy. Owing to its core features of transparency, liquidity and sufficient collateral, we can expect to see its prominence in Crypto Payment Gateways.