About Tether (USDT)

Tether (USDT) is a popular cryptocurrency known as a stablecoin that was introduced in 2014. It is designed to provide price stability by pegging its value to traditional fiat money, primarily the US Dollar, at a 1:1 ratio. This means that each USDT token is backed by an equivalent amount of US Dollars held in reserve by the issuing company, Tether Limited.

Tether operates on such blockchain networks, as Ethereum, Tron, and others, allowing users to transact with a stable digital asset while avoiding the price volatility commonly associated with other cryptos like Bitcoin or Ethereum. Its wide adoption in the cryptocurrency market makes it an important tool for traders and investors who seek a stable store of value or a convenient means of moving funds between exchanges. However, Tether has faced some controversies and regulatory scrutiny over the years due to concerns regarding its actual fiat reserves and transparency, though the company claims to regularly undergo audits to verify the reserves. USDT has a total supply of 86.71B USDT. The market capitalization of USDT is currently around $83.82 billion.

USDT Use Cases

Tether (USDT) serves several important use cases in the cryptocurrency ecosystem:

• Price Stability. USDT's primary use case is to provide price stability within the volatile cryptocurrency market. Traders and investors can use USDT to move their funds in and out of positions without worrying about significant price fluctuations. It offers safety during market downturns, as its value is pegged to a traditional fiat currency like the US Dollar.
• Trading Pair. USDT acts as a popular trading pair on most cryptocurrency exchanges. Many altcoins are primarily traded against USDT instead of fiat money. This enables traders to assess the value of various cryptocurrencies in a standardized and easily comparable manner, without needing to convert to and from fiat each time they want to make a trade.
• Cross-Exchange Arbitrage. USDT facilitates arbitrage opportunities between different crypto exchanges. Traders can exploit price differences for the same asset listed on different exchanges by rapidly moving funds in the form of USDT between platforms, capitalizing on price discrepancies.
• Quick and Low-Cost Transactions. USDT transactions can be faster and more cost-effective compared to traditional banking systems. Transferring USDT tokens across blockchain networks, such as Ethereum or Tron, can often result in quicker settlement times and lower transaction fees compared to traditional fiat-based transactions.
• Decentralized Finance. USDT is also utilized in various DeFi applications, enabling users to access lending, borrowing, and yield farming protocols. By using USDT, DeFi users can participate in these platforms and earn rewards or access loans while avoiding exposure to volatile cryptocurrency prices.
• Global Transactions. USDT provides an alternative for cross-border remittances and international transactions. Users can send USDT tokens across borders quickly and efficiently without relying on traditional banking systems, potentially reducing transaction costs, and easing the process of sending money globally.

What Can I Do With USDT on Notum Platform?

With Notum, investing becomes even easier and more affordable. You can choose among a huge number of cryptocurrencies, manage your assets without delays, and get the best rates. The platform offers you to buy, stake, and swap USDT and thus get a fast stable income in 2023.

• Buy USDT
• Swap USDT
• Stake USDT