Tether (USDT) represents a form of stablecoin engineered to preserve a steady value by anchoring it to a reserve asset, typically a fiat currency such as the US dollar. Operating across diverse blockchain networks, including Bitcoin and Ethereum, Tether serves multiple functions.
Facilitating liquidity and price stability in cryptocurrency exchanges, USDT enables users to seamlessly transfer funds between various digital assets and fiat currencies.
Choosing cryptocurrency pairs for trading
Speaking about the choice of pairs for trading, let's remember Coinmarketcap again with its 2,000 cryptocurrencies. Such a large number of currencies cannot be traded, so we will choose the most promising pairs. There are several secrets for the right choice:
Choose pairs where there is a fiat currency or a stablecoin. Their course is relatively stable and it will be easier to analyse the situation. Most often, beginners choose the BTC/USD and ETH/USDT pairs.
The selected currency pair should be traded frequently and actively so that it can be bought or sold at any time. Thus, the trader will not lose time in adverse conditions and will make an instant transaction.
Big players do not seriously affect the value of popular currencies. Things are worse for altcoins with a limited supply. Therefore, it is better to focus on the presence of a large amount of demand, because such currencies are more resistant to whales.
Of course, do not forget the main rules of trading and be aware of the risks. To begin with, it is not recommended to invest large amounts, the loss of which you will regret.
Earlier we wrote: Choosing a cryptocurrency exchange for trading
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In the ever-expanding universe of cryptocurrencies, Tether (USDT) has emerged as a significant player. Tether (USDT) is a cryptocurrency that serves as a stable coin, pegged to fiat currency, specifically the US dollar. It was created to provide stability in the cryptocurrency world, allowing users to conduct transactions without being subject to significant price fluctuations, and for storing and transferring value within the cryptocurrency space. Over the years, it has become one of the most popular cryptocurrencies among traders and investors, holding a special significance in the cryptocurrency market. In this article, we will explore what Tether is, how to buy and store it, and delve into the key aspects of using this cryptocurrency.
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