USDT (Tether) is the latest cryptocurrency that you can buy, sell, and store on the Coins wallet. Here are some of the main things you need to know about USDT:
1. USDT IS A STABLECOIN
A stablecoin is a type of cryptocurrency designed to reduce volatility by pegging itself to stable assets like gold or fiat currency. USDT is a stablecoin pegged to the value of the US dollar.
2. USDT IS PEGGED TO THE US DOLLAR
Each USDT token is pegged to the US dollar, through a bank account backed by Tether's reserves, which includes traditional currency and cash equivalents.
3. USDT IS THE LARGEST STABLECOIN
As of February 2022, USDT is the largest stablecoin by cryptocurrency market capitalization and volume. It is also the third-largest cryptocurrency by market capitalization overall.
Disclaimer: The information and publications in this article are not intended to be and do not constitute financial advice, investment advice, trading advice, or any other advice or recommendation offered or endorsed by Coins.
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