Firstly, What is Cryptocurrency?
Cryptocurrency is a digital currency used to purchase goods and services. This exchange can be like the fiat currency
we have in hand today, but only in a digital manner. All users of crypto, use an online ledger with strong cryptography to secure online purchases and transactions on the Blockchain.
Cryptocurrency is not regulated by anybody or a system which makes it a decentralized system and cannot be controlled by any government.
People in this space tend to trade crypto for profit even though it is not regulated.
Types of Crypto
Cryptos are generally meant of transmitting value or for making payment across a borderline using different networks and on the Blockchain
which all cryptos are built.
Since the first coins(Bitcoins,) more tokens or coins have been created to help sort out an issue that bitcoin can't because of its high pricing
since not many people did not adopt it when it was cheap.
The Tokens are called Altcoins or Shitcoins. These tokens range from
Ethereum (ETH)
Litecoin (LTC)
Cardano (ADA)
Polkadot (DOT)
Bitcoin Cash (BCH)
Stellar (XLM)
DogeCoin (DOGE)
Binance coin (BNB)
Tether (USDT)
Monero (XMR)........................... etc.
There are over 6000 cryptos out there.
What Is Tether?
Tether(USDT) is a stablecoin that aims to keep the valuation of the price stable.
It is also used by most traders who want to avoid the extreme volatility of the market.
Most Traders understand volatility in the crypto world so they then either take profit or convert their assets when they have significant gain.
The USDT is a coin or value paired with the dollar to make it the most stable coin.
Because tether is stable, traders tend to swap or convert their assets to USDT for safety. Here in Nigeria, Tether is mostly preferred to be used for
trading because it gives the most value at selling. USDT is traded in Nigeria @555-573/$
The Live Price of Tether(USDT)
The live Tether price today is $1.00 USD(stable) with a 24-hour trading volume of $87,366,826,224 USD.
Why do people trade with Usdt?
Tether(USDT) offers a way for investors to avoid the extreme volatility of other cryptocurrencies in the market.
- To avoid Volatility
- To Keep figures stable against devaluation
- To Store and Reserve cash
- To trade without much gas fee because it is $1(less Commission)
- To Make most Returns
- ETC
would you Trade Tether?
Note: All images are gotten from Google