What Is Tether?
Tether is a token backed by actual assets, including USD and Euros. One Tether equals one underlying unit of the currency backing it, e.g., the U.S. Dollar, and is backed 100% by actual assets in the Tether platform’s reserve account. Being anchored or “tethered” to real world currency, Tether provides protection from the volatility of cryptocurrencies.
Tether enables businesses – including exchanges, wallets, payment processors, financial services and ATMs – to easily use fiat-backed tokens on blockchains. By leveraging Blockchain technology, Tether allows you to store, send and receive digital tokens person-to-person, globally, instantly, and securely for a fraction of the cost of alternatives. Tether’s platform is built to be fully transparent at all times.
History Of Tether?
Tether, originally named "Realcoin", was announced in July 2014 by co-founders Brock Pierce, Reeve Collins, and Craig Sellars as a Santa Monica based startup. The first tokens were issued on the Bitcoin blockchain using the Omni Layer Protocol. The first exchange which enabled trading of Tether was Bitfinex, on eof the largest Bitcoin echanges in the world in January 2015.
Where To Buy Tether?
There are a number of ways to buy Tester, however, many find that it is easy to purchase it through a trusted global exchange like Binance or Kraken.
Frquently Asked Questions
- What is Tether?
- Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner. Tether works to disrupt the conventional financial system via a more modern approach to money. Tether has made headway by giving customers the ability to transact with traditional currencies across the blockchain, without the inherent volatility and complexity typically associated with a digital currency. As the first blockchain-enabled platform to facilitate the digital use of traditional currencies (a familiar, stable accounting unit), Tether has democratised cross-border transactions across the blockchain.
- How does Tether work?
- Tether tokens exist as digital tokens built on bitcoin (Omni and Liquid Protocol), Ethereum, EOS, Tron, Algorand, SLP and OMG blockchains. These transport protocols consist of open source software that interface with blockchains to allow for the issuance and redemption of cryptocurrency tokens, known as “Tether tokens.” Tether Platform currencies are 100% backed by Tether’s reserves. Tether tokens are redeemable and exchangeable pursuant to Tether Limited’s terms of service.
- Who can use Tether?
- Tether enables businesses – including exchanges, wallets, payment processors, financial services and ATMs – to easily use fiat currencies on blockchains. Some of the largest businesses in the digital currency ecosystem have integrated tether. Individuals can also use tether-enabled platforms to transact with Tether tokens.
- How does Tether protect me from cryptocurrency volatility?
- Because they are anchored or ‘tethered’ to real-world currencies on a 1-to-1 basis and backed by our reserves. Tether tokens are new assets that move across the blockchain just as easily as other digital currencies. Tether currencies are not money, but are digital tokens formatted to work on blockchains. Tether tokens hold their value at 1:1 to the underlying assets.
- How do I know my Tether Tokens are secure?
- Tether is built on top of the revolutionary and cryptographically secure open blockchain technologies and adheres to strict security and global government laws and regulations.
- Where can I use Tether tokens?
- Tether tokens are usable everywhere where you can use digital currency and in many places where digital currencies is not currently accepted.
- Is Tether transparent?
- Yes. Tether’s platform is built to be transparent at all times. All Tether tokens are backed 100% by Tether’s reserves.
- In what countries and states does Tether have limited functionality?
- Tether is committed to operating in a secure and transparent way, while adhering to all government compliance and regulations. This includes the regulations and economic sanctions that prohibit transactions from persons and entities connected to certain high-risk jurisdictions.