If Bitcoin is a rollercoaster and Ethereum is a giant computer, then Tether is the anchor. In the world of crypto where prices can jump up and down like crazy, Tether stays still. It is what we call a Stablecoin.
Tether was originally launched in July 2014 under the name “Realcoin.” By November of that same year, it rebranded to the name we know today: Tether. It was one of the very first stablecoins ever created!
Tether was founded by a trio of tech enthusiasts:
Brock Pierce: A former child actor (you might recognize him from The Mighty Ducks!) who became a major crypto pioneer.
Reeve Collins: An entrepreneur who served as the first CEO.
Craig Sellars: A technologist who helped build the platform that Tether first lived on. Today, the company is led by Paolo Ardoino, who is a very active voice in the crypto community.
Tether (known by its symbol USDT) is a digital currency designed to always be worth exactly $1.00 USD.
The “Peg”: It is “pegged” to the U.S. Dollar. For every 1 USDT token that exists, the company behind it (Tether Limited) keeps $1.00 worth of real assets (like cash or government bonds) in a bank.
A Bridge: It’s a bridge between traditional money (the dollars in your pocket) and the digital world of blockchain. It gives you the speed of crypto with the stability of the dollar.
Why would someone want a digital coin that never goes up in value?
Taking a Break: If a trader thinks the price of Bitcoin is about to crash, they “park” their money in Tether. Since Tether stays at $1, their money stays safe while the rest of the market drops.
Sending Money Abroad: Sending U.S. Dollars to a friend in another country through a bank can take days and cost high fees. Sending Tether takes minutes and usually costs very little.
Buying Things: Many websites and shops that accept crypto prefer Tether because they don’t have to worry about the price changing before they can spend it.
Beating Inflation: In countries where the local currency is losing value fast, people use Tether to save their money in “digital dollars” so it keeps its worth.
You can see their transparency reports (showing the money in their “vault”) here:
Official Resource: Tether.io
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