What is Tether?

Tether, often abbreviated as USDT, is a stablecoin that is pegged to the US dollar. Unlike traditional cryptocurrencies that can experience significant volatility, a stablecoin like Tether maintains its value by being directly linked to a stable asset, namely the US dollar. This unique feature makes Tether a popular choice among investors and traders looking for stability in the ever-changing cryptocurrency landscape.

Who Created Tether?

Tether was initially created by a team associated with Bitfinex, one of the major cryptocurrency exchanges in the world. Managed by Tether Limited, the company is led by CEO JL van der Velde, CFO Giancarlo Devasini, and General Counsel Stuart Hoegner. The development of Tether marked a significant milestone in cryptocurrency, as it was the first stablecoin to be introduced, paving the way for others in the industry.

How Does Tether Work?

The original version of Tether operates on the Omni Layer, a protocol built on the Bitcoin blockchain. Consequently, Tether inherits the security features and reliability of the Bitcoin network, which has been established for over a decade. This makes Tether not only a practical currency for trading but also a secure option due to its connection with the robust Bitcoin blockchain.

Where Can You Buy Tether?

Tether (USDT) can be traded on various centralized cryptocurrency exchanges. Among them, Binance is the most popular platform, facilitating a high trading volume for pairs such as BTC/USDT, recording transactions worth over $4.6 billion in just 24 hours. Other notable exchanges like Gate.io and Bybit also support the trading of Tether, making it easily accessible to a broad audience.