Tether (USDT) Cryptocurrency Review: Advantages and Disadvantages, Mining, How to Store and Where to Buy/Sell Tether?

Total capitalization (as of 08/27/2019): $4,048.4 million
Trading volume (24h): $17,018,114,125

What is Tether cryptocurrency?

The abbreviation of the token (USDT) already contains a partial answer to this question. USDT is a coin that is directly related to the dollar. The creators were inspired by the idea of combining blockchain technology with fiat money and developed a cryptocurrency that allows users to convert ordinary currency into digital currency. To do this, the price must be equal to the price of one dollar. If all transactions with the dollar usually deal with the law, then the cryptocurrency is devoid of a tax burden and exchanges do not need a special licence. The Tether token is designed exactly for this.

Technologies used

Tether coins are based on the blockchain and use the Omni Layer protocol in their work. Any user on the planet can make transfers of an analogue of USD. Cryptocurrency is backed by real dollars and has its own reserve in USD and in EUR. The presence of reserves is confirmed by the Proof of Solvency and Proof of Reserves algorithms. In rare cases, the exchange rate exceeds the value of one dollar. Today, the coin firmly takes its place in the TOP-20 cryptocurrencies. You can't mine the token.

Pros and cons of USDT

Advantages of Tether cryptocurrency:

High transaction speed. Transferring usdt takes only a matter of minutes, while transactions with other cryptocurrencies can sometimes take days.
Secure protocol. Tether uses a new security system to achieve greater reliability and maintain the privacy of user data.
Transaction cost. Transactions between Tether wallets are carried out without additional fees, unlike similar transactions between regular bank accounts.
Stability. Pegging this cryptocurrency to the dollar makes it volatile, while solving the problem of most other digital coins. All of Tether's work is pegged to the dollar, which ensures high market value stability.

Disadvantages of Tether:

Centralization. The predominant part of the tokens is concentrated on 104 wallets, which creates significant risks when manipulating the coin rate.
Opacity. The provision of Tether with coins is barely 74%, while the rest is securities and credit funds.
Reputation. The real state of the reserve is hidden and, probably, its value is artificially increased. It is because of that false trading volumes arise, which are even higher than btc in terms of parameters.

How to mine Tether

All the features of the Tether cryptocurrency make it impossible for ordinary users to mine, moreover, this was not originally provided.

How to buy USDT

The company successfully cooperates with popular exchanges, exchangers and large financial companies. Using Tether, you can purchase absolutely any cryptocurrency from the listing. All international standards in the work of Tether are strictly observed.

To start working with USDT, the exchange needs to conclude a contract: the web-site does not have the right to add a token to the listing without a contract.

Individuals must register on the official website of the company, enter personal data and pass two-factor authentication.

To replenish the balance in USD or EUR, you should go through the verification stage, fill out the questionnaire and send the necessary documents.

How to buy and sell Tether

The procedure for replenishing and withdrawing tokens on the official website is quite intuitive. Just go to the "Add Funds" tab. USDT tokens are also available for purchase on popular cryptocurrency exchanges. It is most convenient to sell tokens through online exchangers.