Tether is crypto (actually token) called “stablecoin” – its value has a reflection in value of fiat currency or even to precious metals – in this case, to U.S. dollar. Therefore, USDT price is around worth $1.
Tether was introduced in 2014. This project has one mission – converting cash into digital currency based on the US dollar, the Euro and even Japanese the Yen. Due to the fact that USDT is a token, there hasn’t a block time, but there is time to confirm the transaction – usually up to 5-10 minutes.
On 27th May 2017, Tether had its own ATH (All-Time High price), which was equal to 1,21 USD.
Tether (USDT) is a cryptocurrency whose value is reflecting the value of the US dollar. USDT has been introduced to the cryptocurrency market as a “stable” currency that will be used as digital dollars.Read more
The price of Tether is stable in terms of purchasing power that it naturally encourages holders to make transactions for coins instead of storing them. Tether is most often used to buy other cryptocurrencies. This usually happens when the not-so-popular fiat currency is not supported on the given exchange. Users can then buy Tether and trade the crypto they want.
Tether is the most popular stablecoin in the world. Some cryptocurrency exchanges, such as Bitfinex or Poloniex, even use it as a replacement for the US dollar. With security in USD, Tether makes buying cryptocurrencies much easier, especially for beginners. Therefore, the price of Tether does not change much and always mirrors 1 USD.
Stablecoins are a type of cryptocurrency that tries to maintain price stability. For this reason, stablecoins are supported by reserve assets. These can be fiat currencies such as USD or EUR, but also commodities – gold or precious stones.
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Official website: https://tether.to/
Source Code: https://github.com/shipshapecode/tether