You must have heard about the name Tether if you are well-versed with the cryptocurrencies that are available in the present crypto world. It is a coin just like any other cryptocurrency like Bitcoin, Litecoin, Ethereum, Ripple, and Stellar. Many people even treat it like money. But the interesting point about Tether is, it is stable. Yes, the main issue with cryptocurrencies is they are volatile and fluctuating. Tether is pegged with the US dollars and so it is not highly volatile.
It is pegged with the US dollar at present and is backed as 1:1. But this is only in the US, other countries are yet to accept it or launch it. Japan and England are also planning to launch their own Tether in the future. Japan is going to name it JPYT which means Japanese Yen, just like USDT for US Dollar Tether.
The main reason why Tether was launched is you will be able to perform fixed-rate transactions across any crypto exchange platforms like the yuan pay group. Tether is one of the top ten cryptocurrencies in terms of market cap.
Is it good to invest in Tether? If you are looking for reasons to invest in Tether, there are a few reasons for you:
One main reason why you should buy Tether is its transparency. One good reason why people do not like to invest in cryptocurrencies is their lack of transparency and Tether is washing away that problem. Tether is backed US dollar. The price of one Tether coin is equivalent to one Dollar. As it is pegged to the world’s currency, there will not be an issue. It is totally shielded from the major issue with cryptocurrencies, and that is volatility.
When you wish to sell or purchase any crypto, you will have to use other cryptocurrencies in most cases. But that is never a problem with Tether. As this is linked to a fiat currency, it is also treated as a fiat currency. You can use any other fiat currency for online payments. It is a 100 percent secured and tested blockchain network and hence it is very safe for investors.
The market doesn’t affect:
Whenever we want to invest in cryptocurrency, one common point that scares most people is its volatility. The price of the cryptocurrency does not remain the same after a few seconds of your investment. It may increase or decrease. Also, whether a fall or rise, it can be extreme and that can lead to loss as well. But with Tether you don’t have that problem. The price of Tether is equal to the US dollar and that is the reason your money is safe. The fluctuations in the market do not affect its price.
Excellent customer support:
Another reason why you should think about investing in Tether is its customer service. They have some of the expert members as part of their customer support team. At any given point, if you are looking for any kind of help, you can get in touch with the customer support team. They will help you 24/7 and that is excellent. You may have to pay a very small fee for using the services of the customer support team and they are available only in English.
Secure and Reliable:
Security of the network is never an issue with the Tether network. The blockchain network on which Tether runs is very secure. That means you can buy or sell coins in this network without any security issues. Along with that, there are also AML and KYC guidelines. That makes the security stronger. So, if you wish to create an account, then make sure you have AML and KYC documents ready with you, without which you will not be able to create an account. You cannot trade on the Tether platform. For some, this may sound like a drawback, but it is very important to secure your investments in Tether.
These were the five best reasons why you should consider investing in Tether today. There are many benefits that one can enjoy after investing in it. So, get started today and see your money growing.