Tether — The stable coin that changed the world’s view of Cryptocurrency
The cryptocurrency world is known for its volatile state leading to a massive loss and wealth gain; sitting among the most stable coins has been Tether, a central boosting point, attracting traders far and wide. Its market cap has secured a position among the top five cryptocurrencies in the ranking system. Founded in 2014 and said to have a backing of $1 to a Tether, most individuals feel that Tether is the closest to fiat currency. On October 6 2014, its first sets of tokens got issued on the bitcoin blockchain.
The term stability in the crypto world has been more of a dream until the creation of stable coins like Tether (USDT). It is used as a substitute for the Dollar. It is easy to buy and sell on valor exchange and also peer-to-peer transfer and bidding.
It gives traders a medium to maintain and retain the value of their cryptocurrencies in Dollar due to its stability. For instance, Kola makes a trade of $72 in bitcoin. In a couple of hours, he finds out a spike in the rate of Bitcoin has occurred, followed by a slight drop due to the volatility of the coin; he decides to retain the value of his bitcoin; hence he converts to Tether (USDT). When a cryptocurrency is highly volatile, your best bet is to convert it to a stable coin like Tether to prevent a loss. You exchange your BTC to USDT on Valor Exchange.
Void of crypto volatility, traders looking for colossal short-term returns are advised to trade more in stable coins to avoid loss due to volatility. Still, it would always be the Number one crypto choice for peer-to-peer traders and remittance for merchants seeking to pay a supplier in another nation or parents to pay their wards’ tuition fees in overseas schools. It is an easy escape when cryptocurrencies become highly unstable.