What is Tether (USDT)?
Tether is a popular stablecoin that is pegged to the US dollar.
About Tether (USDT)
Tether (originally “Realcoin”) is a stablecoin created in 2014 as a way to combine the simplicity of a dollar with the advantages of blockchain technology. In 2015, Bitfinex became the first significant crypto exchange to offer support for Tether.
Today, as one of the world’s most popular stablecoins, Tether (USDT) has a circulating supply of 67.7 Billion at the time of writing this article. As a result, USDT is widely available for purchase on most leading crypto exchanges.
How USDT Works
Like many other stablecoins, which mirror the price of a fiat-backed currency or other asset with an assigned market value, Tether is pegged 1:1 to the US dollar, meaning that it maintains the value of one US dollar. Stablecoins like Tether are used in blockchain-based financial transactions, and are also often held by investors as a way to hedge against the volatility of the crypto market.
How is Tether’s peg maintained? The company behind USDT, Tether Limited, must maintain enough reserves—such as cash, cash equivalents, or loans—to back the tokens that it issues. Tether currently publishes documentation about its reserve assets.
Tether can be used in financial transactions on numerous blockchains, including Algorand, Avalanche, Ethereum, EOS, Liquid Network, Near, Omni, Polygon, Solana, Bitcoin Cash’s Standard Ledger Protocol, Statemine, Statemint, Tezos, and Tron.
Donate USDT to Support a Charitable Organization
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Now that you know more about Tether and USDT, learn how you can donate USDT to thousands of nonprofit organizations via The Giving Block’s crypto donation platform.
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