Question

What is USDT (Tether)?

Answer 1

USDT, also known as Tether, is a type of cryptocurrency that is known as a stablecoin. It is designed to maintain a stable value by pegging it to a reserve of fiat currency, such as the US dollar, in a 1:1 ratio. This stability makes USDT appealing for use in trading and investing as it helps to mitigate the volatility commonly associated with other cryptocurrencies like Bitcoin or Ethereum.

Answer 2

USDT, also known as Tether, is a type of cryptocurrency called a stablecoin. It is designed to be pegged to the US dollar on a 1:1 ratio, which means that 1 USDT should always equal 1 USD. This stability is achieved through holding reserves of the corresponding fiat currency. USDT is commonly used by cryptocurrency traders looking to hedge against market volatility or quickly move funds between exchanges.