Tether Crypto: What is it?
Tether is a cryptocurrency that was launched on the Bitcoin blockchain. It’s price is tied to the value of one US Dollar, which means 1 Tether USD (USDT) equals 1 USD.
One of the main benefits of Tether (USDT) is that all transactions are with really low fees, meaning it’s better to use digital money than actually transfering dollars.
Tether is a stablecoin – what does that mean?
According to Investopedia, a stablecoin is “a cryptocurrency that has low volatility against the world’s major currencies”. Its value remains relatively stable compared to ‘major’ cryptocurrencies, like Bitcoin. Stablecoins are generally pegged to fiat currencies like the US dollar or the Euro.
Tether is one of the most famous and biggest stablecoins in the world.
Tether Crypto Price History
Tether Price Prediction (USDT)
Current Price: $1.00
All-Time High: $1.00
Market Cap: 1.04
Tether Crypto Price Prediction
The cryptocurrency market seems to be going crazy, and I can’t help but wonder what is next for tether as a currency.
Well, it’s hard to make a crypto price prediction for tether because nothing is uncertain in the crypto world! One of the main reasons why you can’t predict tether price is because recently the stablecoin got envolved in numerous controversys. There was even a lawsuit where an attorney suggested that Tether wasn’t 100% backed by the American dollar. So that’s something to keep in mind…
Buying Crypto: Will Tether go up or down?
Stablecoins are very hard to predict! Please, keep in mind that according to Mizrach’s research, about 80% of the stablecoins created in 2015 have failed and went to zero. Another concern is that stablecoins can lead to liquidity shocks that can poorly affect the market.
As you can guess, Tether’s creators point otherwise – they believe that their cryptocurrency is a more fair financial asset that is transperent, digital, with less transaction cost and better investment potential.
The potential worst-case scenario for Tether is if the US government creates a digital dollar.
Note: Egorithms is not an investment service or activity, not a financial expert, we are not giving you investment advice or recommendations. Egorithms is not an investment intermediary, we are not providing trading services. We are not trying to make people loose their money so get educated on the topic and always remember: Investing is risky and can lead to losing your money.