Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
Benefits of Tether
Tether's Prospects
Despite the popularity and the sixth place in the ranking of cryptocurrencies, there are different and very mixed reviews about Tether. The rate continues to grow steadily, as capitalization of the digital currency. At the same time, cryptocurrency users complain about the high risk of exchanging fiat currency for USDT. For three months, the issue of coins has grown by 100 million units, and no one knows yet what they are backed by.
Also haunting is the incident when in 2017 a well-known American bank refused to service transactions from Taiwan and froze $50 million belonging to Tether. This question is still open. As a result, USDT fell to 89 cents. The lack of any explanation of the reason led to distrust of users.
Rumors spread on the Internet that Tether has “fake” companies and accounts that it uses to cover itself in case of problems with banks. They say that this is what helps the company to exist successfully. However, if this is true, then such actions are very risky and can play a cruel joke with the creators. In view of such news, it is still difficult to talk about the prospects of the cryptocurrency, the situation will clear up over time.
In the meantime, Tether's website is publishing news and making big plans, such as operations with the digital twin of the Japanese yen and the British pound.
Advantages of Tether
- Convenience in the easy calculation of the cost in USDT, because it is equal to the cost in dollars;
- Instant transactions;
- All tokens are backed by real currency;
- Decentralized;
- Transparent transactions;
- Beneficial for users – there is no commission for transfers through the blockchain and between wallets;
- Protection through cryptographic encryption;
- Users have round-the-clock access to the currency;
- Easy, like Bitcoin, integration with wallets and companies;
- Availability for use by both individuals and legal entities. Companies that use USDT do not need to additionally indicate the price in dollars or euros. There is also no need to transfer amounts to BTC, which saves on fees.
See also: Stablecoins. Variety, purpose and how they differ from other cryptocurrencies
