What Is USDT?

USDT is a type of cryptocurrency that is pegged to a given fiat currency as well as physical assets such as gold. These cryptocurrencies are known as stablecoins.

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How does USDT work?

Using USDT is pretty simple. As a rule, you can use it on the exchanges to pay for cryptocurrency like Bitcoin, LitecoinEthereum, and other. You can transfer USDT from the exchange to your personal wallet and store it.

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Advantages Of USDT

Stability and security

Undeniably, USDT is one of the most stable candidates in the crypto-verse today. Investors looking to gain exposure to a relatively low-risk Cryptocurrency could see USDT as a go-to in an otherwise largely volatile market.

USD fund transfers via traditional banking could potentially take anywhere between one to four days depending on the mode of transfer used. If the transfer is initiated overnight or during weekends, the transaction could take even longer to process.

Fortunately, USDT transactions are much faster. This is great for Cryptocurrency traders whose profits may disappear if the transfers take that long. They need to be able to transact within minutes rather than days.

Time isn’t the only critical factor that makes USDT transfers more appealing. There is a transfer fee involved on USD transfers, and this fee can often be quite expensive. For instance, transfers via SWIFT (Society for Worldwide International Financial Telecommunication) end up costing the transferer somewhere about $20 to $30, or even more.

USDT enjoys wide acceptance across the industry. It can be bought and sold on pretty much any major exchange, which makes it a terrific choice for investors who want to invest in cryptocurrencies that aren’t paired with other mainstream cryptocurrencies such as ETH, BTC, or LTC. It’s much easier to convert USDT into cash than other currencies.

Investors in a country with a weak currency, or a country that witnesses high inflation need investments that can at least preserve the currency’s value. In such cases, USDT functions like a lifejacket. Its value is pegged to the USD, which means an investor is better off storing their money in USDT than their own currency.

For instance, let’s assume someone from China had purchased 10,000 USDT in June last year when CNY/USD was quoting at 0.1401 for $1401. Today, the CNY/USD quotes at $0.1567. Redeeming the USDT today will leave the investor with $1,567. The investor didn’t just beat the inflation but came out with a positive return.

How To Use Tether (USDT)

Tether is a stablecoin that can be purchased on many popular exchanges like Kriptomat. Tether (USDT) can be exchanged for a variety of goods at different vendors or used to exchange for a different currency.

Some users will acquire USDT to lend, purchase NFTs, and participate in ICOs. Tether’s flexibility makes it incredibly versatile and it can be used almost anywhere a user wants to transfer or transact value.

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What Makes Tether (USDT) Unique?

Tether (USDT) has been accepted and used for years and holds legitimacy, though often challenged, that few projects can actually match. It is widely accepted by many vendors and protocols within the blockchain ecosystem as a payment method and means of exchange.

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Is USDT a Competitor to Bitcoin?

No, Tether is designed to help users with their liquidity on the Bitcoin network and serves as a speculative hedge.

Tether does not natively support staking. Users may find staking available through dApps that use USDT.

Buying USDT is as easy as visiting Kriptomat’s how to buy Tether page and choosing your preferred method of payment.

If you already own USDT and hold it on a Kriptomat exchange wallet, you can easily sell your USDT by navigating the interface and choosing your desired payment option.

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