When first hearing the word Tether you probably associate it with something controversial or a cryptocurrency just like any other. Well, both are true and in our Tether beginners guide, we will be discussing more about the coin as a cryptocurrency but also as a controversial platform that provides crypto services to its users.
A lot of people are trying to understand what this cryptocurrency is and what benefits can it bring to the table. If you are new to its concept, it is safe to say that This crypto is one of the most popular cryptocurrencies and reaches the top 10 altcoins by market cap. The beginners program is designed to help you and everyone else that is interested in crypto to learn about the main purpose of this crypto asset, why people buy it and how to invest in it. In this guide, we will be talking about the creation of the crypto to the people behind it, the team that works on the platform and the software it uses. We will also discuss other technical aspects of this cryptocurrency.
Tether’s story is not so simple after all. It has a very complicated history, and many still wonder whether it has the USD capital to back the USDT supply. The project also has connections to Bitfinex and its parent company iFinex INCH. It is widely believed that it was used to illegally manipulate the bitcoin market in 2017 and this boom took the price of the crypto 10x higher than any other coin.
Start Here: Learn The Basics
Tether is a cryptocurrency that acts as a hybrid. Officially, it is designed to be a crypto-fiat “stablecoin” which value is pegged – or rather – tethered – to the value of fiat currencies. In this manner, USDT is a currency that Tether most frequently uses – and one that is equal to the world’s official reserve currency which is the US Dollar.
More specifically, one USDT is intended to remain exactly equal to $1 (without a cent more or less). So, the best way to explain what USDT is – is as a version of the US Dollar in the crypto world. Or better yet, a crypto dollar in terms of its value.
Another currency that Tether uses is the EURT, which just like USDT is to the US Dollar, is a crypto Euro for the Euro cryptocurrency. As Tether recently announced, there will also be a JPYT cryptocurrency coming soon – acting as the cryptocurrency “brother” of the Japanese Yen.
All of the users are protected from the volatility of cryptocurrency. However, they are still exposed to fluctuations in the price of the pegged fiat currency. For example, if the US dollar’s value halves overnight, holding (USDT) would lose an equal amount of value as the USD.
Our Tether Guide Will Teach You:
– Who created Tether and why
– The main idea behind the cryptocurrency
– Main features of Tether
– Main differences with Bitcoin
– How and where to buy Tether
– How to store tether
– The Tether controversy
– Best Wallets For Tether
– Best Exchanges For Tether
So, are you ready to start learning everything there is to know about Tether? Let’s dig in!
- Lectures 14
- Quizzes 1
- Duration 33 hours
- Skill level Beginner
- Language English
- Students 7959
- Assessments Yes
Tether For Beginners
Tether For Advanced