What is Tether?

Tether is a stablecoin, which is a special form of cryptocurrencies. Normally, the value of a cryptocurrency is always tied to the market. Supply and demand determines the price. However, with Tether it is different, the price of Tether will always be $1 with minimal fluctuations. Other cryptocurrencies may well lose or gain 10% or more in value on a daily basis, which is a big disadvantage especially for everyday transactions. No one wants to accept a currency in their online store that may be worth less tomorrow than the goods cost in the purchase. But the same is true the other way around. No one likes to pay for something with a currency that may be worth twice as much tomorrow.

This is exactly where Tether comes in. Since the price is permanently tied to the dollar, Tether aims to simplify transactions in everyday use. Transfers across the globe can also be made easily, as the currency is only subject to minor fluctuations, just like the real dollar. Mainly, Tether is used to buy and sell other cryptocurrencies.

However, the whole thing is only made possible because Tether is allegedly backed 1 to 1 with real dollars. So per existing Tether, the company behind it also has 1 dollar in reserve. Please pay attention to the word allegedly, because the proof for this has never been provided.

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Youtube-Video: What is Tether (USDT)?

Tether and honesty

As mentioned earlier, Tether offers some great advantages. Because of the consistent value, Tether can be used for transactions to save costs. For example, buying and selling Bitcoin with Tether is often cheaper than with euros or dollars.

    - Prize doesn’t fluctuate
    - Great for worldwide transactions

Disadvantages of Tether

Due to the non-transparent approach of the owners, the disadvantage is obvious. If Tether Limited decides to go out of business, Tether completely loses its value overnight. Since Tether does not have decentralized structures like other cryptocurrencies, Tether is often called the "central bank of cryptocurrencies". This is exactly the opposite of the basic idea behind cryptocurrencies, because they were actually meant to break free from central banks and nations. The fact that Tether is still so popular shows that many people are now trading with cryptocurrencies who have no idea about the original vision and the basic idea of cryptocurrencies.

    - Not decentralized
    - Tether Limited is under investigation in several countries

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Buy and sell Tether

You can easily buy Tether on all major exchanges. We mostly use Coinbase (https://best-faucets.com/coinbase), but many other marketplaces also offer Tether. Before you buy, you should pay close attention to the fees, as the different sites differ greatly. Usually, we also recommend that you compare the price of the cryptocurrency itself, which can also differ from platform to platform. With Tether, however, this is not quite as important, as there are no strong differences here. But you can still save 1-2% if you compare well beforehand. Especially if you want to invest a larger sum, this can pay off. For smaller amounts, however, it makes little difference and is not worth the effort. Here you can easily use the platform of your choice for trading with Tether.

Rating Name Country Earnings Currencies Type
of Service
Coinpayu USA High Bitcoin Bitcoin Cash Cardano Dash Doge Ethereum Litecoin Tether Tron Bitcoin Faucets, Paid Clicks, Paid Surfing 2017
Autofaucet Dutchycorp France Good Bitcoin Bitcoin Cash Cardano Dash Doge EOS Ethereum IOTA Litecoin Monero Ripple Stellar Tether Tron Zcash Bitcoin Faucets, Paid Clicks, Paid Surfing 2018
Firefaucet India Good Bitcoin Dash Doge Ethereum Litecoin Monero Tether Tron Zcash Bitcoin Faucets, Paid Clicks, Paid Surfing 2018
BTCBunch USA Middle Bitcoin Dash Doge Litecoin Tether Tron Zcash Bitcoin Faucets, Paid Clicks, Paid Surfing 2021
Crypto Junkie USA Middle Bitcoin Bitcoin Cash Cardano Dash Doge Ethereum IOTA Litecoin Ripple Tether Tron Bitcoin Faucets, Paid Clicks 2020
Claimfreecoins USA Middle Bitcoin Bitcoin Cash Dash Doge Ethereum Litecoin Tether Tron Bitcoin Faucets 2017
Bitdaily Canada Low Bitcoin Bitcoin Cash Dash Doge Ethereum Litecoin Tether Tron Zcash Bitcoin Faucets, Paid Clicks, Paid Surfing 2021

Beginners should keep their hands off Tether

Especially if you are new to cryptocurrencies, you can safely ignore Tether for now. You can't gain anything with Tether because there is no possibility that the price will rise. However, for people who trade a lot with cryptocurrencies, trading with Tether makes perfect sense. With Tether, you can lower the costs of your transactions.

Our conclusion about Tether

Tether is an interesting project. The basic idea of a stablecoin is quite interesting, but Tether should be treated with caution. Tether does not have a decentralized administration in which everyone can theoretically have a say. Instead, there is a company behind it that mainly pursues its own interests. The next few years will be very exciting for Tether, because the prosecutors are currently (2021) investigating the owners. If there is ever a conviction, the price of Tether could fall to 0 overnight. Therefore, you should never park large sums of money in Tether, as this only puts you at great risk, but you have nothing to gain.

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