A Beginner’s Guide to Tether USDT

USDT or Tether is an extremely important cryptocurrency for many traders. Even so, USDT is one of the most controversial cryptocurrencies out there. In this piece, we will take a look at USDT, as well as how USDT is used in Killer Whale Products !

What is USDT

USDT is what is known as a stablecoin, which mimics the US dollar. Stablecoins are coins which are tied to other assets such as gold, silver, oil, and fiat currencies. In in order for a traditional collateral stablecoin to exist, each token must be backed by the real-world asset it represents at a 1:1 ratio. In the case of USDT, each token is backed by the equivalent to one US dollar. In fact, you can even exchange your USDT tokens for US Dollars, although you can only ironically do this outside the United States

What is USDT Used For

Fiat currencies are often used a measure of stability in crypto; However, not all exchanges offer trading in fiat currencies. This is because of the number of laws required for an exchange to pair a cryptocurrency with a fiat. Since exchanges need to jump through so many hoops in order to create crypto/fiat pairs, many large exchanges don’t even bother, and small exchanges are incapable.

Since even Bitcoin can fluctuate so greatly in price, the need for a stable store of value outside of cryptocurrency is vital. This is where USDT comes in. Since USDT is merely a cryptocurrency which is paired to the US dollar, it can be and is traded across most exchanges.

Tether Limited

Tether Limited, or simply Tether was conceived in January of 2012 under its original name “Mastercoin.” In 2014 the project had changed its name to “Realcoin” and by 2015, it had officially adopted the name “Tether.” Tether also offers several other stablecoins which are tied to other assets, such as Tether Gold, AKA XAUt.

Killer Whale Products

Killer Whale Products require the use of USDT. Although there are other stablecoins which can be used in the same way as USDT, they do not pair with as many cryptocurrencies. Since USDT pairs with so many other cryptos, it is the most logical choice for getting the most out of your trading experience.

Conclusion

Stablecoins are an important part of cryptocurrency. Stablecoins are needed to ensure correct value of cross border transfers and as a means for traders to park their wealth. In fact, everyone who uses cryptocurrency can benefit from the use of stablecoins, all the way from beginners to experts! Be sure to take a look at the Killer Whale Products Page to find out which Killer Whale Signals and Strategies are right for you!

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