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Whether you’re new to the crypto world or you have been here for a while, you might have heard the word “Tether” and “USDT” a couple of times. In this article, I will be telling you all you need to know about the popular stablecoin cryptocurrency, Tether.
What is Tether?
Tether is a stablecoin cryptocurrency hosted on Bitcoin and Ethereum blockchains. It is called a stablecoin because it was originally designed to always be worth US$1.00, maintaining $1.00 in reserves for each tether issued.
History of Tether
It was founded in July 2014 by Brock Pierce, Craig Sellars, and Reeve Collins. Tether (USDT) was originally known as “Realcoin”.
This cryptocurrency is used by crypto investors who want to avoid the volatility of other cryptocurrencies while keeping value within the crypto market.
It is one of the earliest Stablecoins created and is the most widely used stablecoin today.
Tether was created as an attempt to solve two major issues with existing cryptocurrencies: high volatility and convertibility between fiat currencies and cryptocurrencies.
Its tokens are issued by the Hong Kong company Tether Limited, which in turn is controlled by the owners of Bitfinex.
Where to Sell Tether
Below are some crypto trading platforms where you can sell USDT for cash.
This is an OTP crypto trading platform where users can receive crypto, convert it to cash and withdraw it to their local bank account in less than five (5) minutes.
This app is available in Nigeria and Ghana.
Although USDT is not currently available to trade here, they have made it known that it will be coming soon.
This app was added to this list because of its immaculate features and specifications such as; no hidden fees, no withdrawal fees, high security, no limits, good customer support and others!
It is also one of the best crypto wallets in Nigeria.
Other cryptocurrencies available to trade right now are; Bitcoin, Ethereum, Litecoin, Dogecoin and Bitcoin Cash.
For more information, help and support, reach out to their customer support at email@example.com or Call/WhatsApp 08090569499.
Binance is a global crypto exchange app that enables users to
trade on an extensive range of reputable coins in this world-renowned exchange. It is popular for its high liquidity and multi-language support.
Kraken is a United States-based cryptocurrency exchange and bank, founded in 2011. It is a good crypto trading app to sell Tether. They are reputed for their variety of options to deposit funds in selling cryptocurrencies. Transactions can be achieved in Kraken with the use of SWIFT, SEPA, bank wire and bank transfer. Kraken uses p2p trading.
And much more.
Is Tether a Good Investment?
Tether works like any other cryptocurrency when it comes to buying and selling the token.
While Tether is not necessarily a long-term investment that will grow your money by itself because it stays pegged to the U.S. dollar, there are exchanges, wallets and lending platforms that will pay you high-interest rates to store USDT on their platform.