What is tether
Hello, I see everywhere Tether, USDT. What does it means? When i trade on Bittrex, Bitfinex, Kraken, Poloniex, there is always comparing prices to USDT Tether. I thought that it is us dollar, but it's something different. Could you explain?
Patrick, thank you for your question. Tether converts cash into digital currency, to anchor or tether the value to the price of national currencies like the US dollar, the Euro, and the Yen. Every tether is always backed 1-to-1, by traditional currency held in our reserves. So 1 USD₮ is always equivalent to 1 USD. The Tether platform is built on top of open blockchain technologies, leveraging the security and transparency that they provide.