What is Tether (USDT)?

Tether is a blockchain-based cryptocurrency, with its value claimed to be pegged to 1 United States Dollar by its issuer, the Tether company. This cryptocurrency, traded under the symbol USDT in the market, is also known as USD Tether. Due to its pegged value, it falls under the category of stablecoins.

Tether, which emerged in 2014 under the name RealCoin but underwent rebranding in 2015, quickly achieved a market value of billions of dollars due to its ability to solve some major problems in the cryptocurrency industry. Known as a stable cryptocurrency, it can be exchanged one-to-one with fiat currencies such as the Dollar and Euro, allowing you to digitize the money in your bank account and transfer it to any user. With stable currencies, it has become possible to protect against drawbacks like high volatility on trading platforms. Today, Tether is the most popular among these stable currencies. Tether, with its principles of stability, transparency, and low transaction fees, serves as a bridge between fiat currencies and cryptocurrencies.

Tether also provides significant convenience for online payments made through cryptocurrencies. Many businesses are cautious about most cryptocurrencies, including Bitcoin, due to high price fluctuations. However, USDT, which is a stable and high-volume asset with a fixed value, has been able to meet this need in the field.

How to Buy Tether (USDT)?

To buy Tether (USDT), you can start trading on BtcTurk | Global after signing up and depositing cryptocurrency into your account. You can then exchange USDT for Bitcoin or other cryptocurrencies.

How Does Tether (USDT) Work?

Tether, which has become an indispensable option for daily transactions and trading, can be exchanged 1:1 with the US Dollar. Tether Limited holds USD and cash-equivalent assets in the amount of the circulating USDT supply. The adequacy of these USD and cash-equivalent assets, held as collateral by independent third-party auditing firms, is audited quarterly and publicly disclosed.

Tether was initially created on the Omni protocol. Omni is a versatile platform used for a range of digital assets and currencies pegged to the Bitcoin blockchain. It also operates as a layer on the Bitcoin infrastructure. However, due to Bitcoin’s transaction fees and processing times not meeting the demand for Tether over time, the Tether company began producing and distributing USDT on Ethereum, Tron, EOS, and other blockchains.

Tether has announced that it will no longer support Omni as of August 17, 2023, due to users’ preference for other platforms.

How to Store Tether (USDT)?

Due to Tether being distributed across multiple blockchains, you first need to know which blockchain your Tether is based on. For example:

If you want to use ERC-20-based Tether created on the Ethereum blockchain, you can transfer it to wallets that support the Ethereum network.

If you prefer TRC-20-based Tether, which is created on the Tron blockchain, you can transfer it to wallets that support the Tron network.