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Reasons to Buy Tether (USDT)

• It has a market capitalization of $63 billion and ranks at number five.
• It is widely accepted in a lot of stores, both online and offline.
• It provides easy cross-border payments.
• The transaction time depends upon the cryptocurrency on which tether is used.
• It cannot be mined as it is backed up by cash reserves.

Tether, also regarded as the stablecoin was launched in 2014, but the trading of tether tokens began in February 2015.

It was created with the vision of a stabilised coin, unlike the popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, etc., that have very high fluctuations. Its price is pegged 1:1 to the popular fiat currency USD. As a new business model, Tether reportedly keeps the same amount of USD in its reserves to ensure that the cryptocurrency is backed up by cash.

Things to consider before buying Tether (USDT)

• Unlike most cryptocurrencies, Tether could be used as a mode of payment as it is regarded as fiat currency.
• The price of 1 tether is equal to $1; therefore you don’t need to worry about price volatility.
• Tether has an unlimited supply of USDT tokens. At present, more than 63 billion coins are in existence.

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.