Sometimes the cryptocurrency market corrects by 25% or more. Dec. 21 – 22, was one such time. From a positive frame, crypto just went on sale for the Holidays.
Tether is a useful crypto whose value roughly mirrors the price of dollar.
Essentially, and according to their site, Tether converts cash into digital currency, to anchor or tether the value to the price of national currencies like the US dollar, the Euro, and the Yen.
Like other cryptos it uses blockchain. Unlike other cryptos, it is “100% backed by USD” (USD is held in reserve).
Some question exactly how all this is working, but at the end of the day its useful as it has a steady value and can be used on many of the world’s major exchanges.
Its like a digital dollar secured by cryptography and not subject to speculation like other cryptos. That makes it rather useful.
In the volatile world of crypto, its nice to have some stability. And that is what makes Tether cool.
Tehter was reportedly hacked on Nov. 20th. This caused a quick sell-off of all things crypto. However, most coins quickly recovered.
Bittrex is one of the most popular crypto exchanges for trading altcoins in the U.S.. Its complexity can be intimidating, but the learning curve is worth it.
Tether (USDT) is a useful crypto whose value roughly mirrors the value of the U.S. dollar. The idea was to create a stable cryptocurrency that could be used like digital fiat.
Below is a list of important cryptocurrencies and additional resources you can use to learn more about all the different cryptocurrency types.