Tether digital currency (Tether) is one of the stable digital currencies or stable coins, which is also known by the symbol USDT in the digital currency market. Each Tether, or USDT, is equivalent to one US dollar. Because its price is usually fixed and around 1 dollar and has very little fluctuations, this digital currency is placed in the category of stable coins. For more information, stay with the trade tool

tether to ethereum

History of Stablecoin Tether

At first, the Tether currency was presented on a platform called Omni. This system is a sub-layer on the Bitcoin blockchain network that allows the exchange of various tokens on that network. But a little later, the Tether digital currency was released on the Ethereum network, with the ERC-20 standard, and now it is possible to exchange this currency in various blockchains.

The most widely used digital currency used for exchange in centralized and decentralized digital currency exchanges is Tether. When the market experiences high fluctuations with high intensity, you can preserve the value of your capital by converting them to Tether in order to avoid the price drop of currencies such as Bitcoin and Ethereum. Among the trading volumes of digital currencies that are measured and announced during a 24-hour period, the largest traded volume is dedicated to Tether, followed by Bitcoin and Ethereum digital currencies.

Advantages of Tether currency

Due to the increasing demand for digital currencies and their attractive profits, many people are interested in this market and try to invest in it. Investors and traders always use Tether currency in their transactions; Because the price of this stablecoin is always fixed and there is no risk in buying and maintaining it. Besides these things, Tether has other advantages that we have mentioned below.

Short transaction time

Depositing and withdrawing dollars from bank accounts to international exchanges outside of Iran is a time-consuming process; But in the world of digital currencies, using stable coins, transfer capital to the exchange in less than a few minutes. This issue is vital for short-term and medium-term traders who are trying to profit from all market fluctuations in short periods. As we discussed earlier, it is possible to transfer Tether currency through various networks, the most widely used of which are Tron, Binance Smart China and Ethereum networks.

Low transaction fees

If you intend to normally deposit or withdraw dollars in foreign exchanges, you should pay attention to the fact that this type of deposit usually requires heavy fees along with KYC confirmation, which is not possible for Iranians; Also, if your desired exchange does not support your currency, your fee will be multiplied several times due to the presence of an intermediary. But for your USDT financial transactions, between wallets or transfers to different exchanges, you only need to pay network fees. But you should note that the fees of these networks are usually less than 1 dollar.

Its almost fixed price

As we mentioned in the previous parts, the price of Tether is always stable and has very little fluctuations, and crypto market operators use stable coins like Tether to maintain the value of their capital.

Tether price (USDT)

As we said, the price of each Tether currency unit is equivalent to one US dollar. The price of Tether is always fixed, but its price increases or decreases from time to time during severe market fluctuations, which is prevented from increasing its price by offering this currency by the Tether Foundation. Currently, the current price of Tether is equal to 1 US dollar.

Its highest price was recorded in December 2017 with a price of $1.0176 and its lowest price was recorded in April 2017 with a price of $0.9179. The reason for these fluctuations was the amount of supply and demand in that period of the market; In general, in periods when relative stability prevails in the digital currency market, the demand for stable coins such as Tether decreases; But in periods when there are strong fluctuations in the market, the demand for this currency increases.