The crypto revolution has stirred up quite a whirlwind for some time.
But there is one cryptocurrency that has created a colossal impact in the virtual currency exchange market, it is neither bitcoin neither ether. It is the Tether.
But understanding the reason for its success can get a little tricky. Tether, popularly known as the USDT, is a very stable currency in nature.
You can redeem one Tether for a dollar. This means keeping $100 USDT in your crypto trading account is equivalent in evaluation to keeping $100. You can liquefy the virtual currency any day.
This hassle-free, quick-cashability quality of Tether makes it stand out in front of many other cryptocurrencies like Bitcoin, Litecoin, Polkadot, and many more.
But to truly understand its potential, you need to ride the time machine. Let’s go a few steps back and understand what exactly Tether is?
What The Heck Is Tether And Why Shall You Invest In Tether Now?
A tether is a form of cryptocurrency powered by blockchain technology.
Abiding with the framework of traditional currency systems like dollars and euros, this virtual currency can be directly deposited in a target bank account.
Known as “stable coins,” the Tether is frequently used to secure funds in high-risk markets. If you are new to crypto, investing in Tether is the smartest move you can make any day.
Unlike highly fluctuating cryptocurrencies like Ethereum or bitcoin, it gives your assets high stability. This makes it the best choice for exchanges and value storage for investors across the globe. Traders frequently use Tether to complete monetary transactions between two parties instead of via banks.
What’s more, purchasing and selling Tether is dirt simple. You can buy Tether right from the exchange where you buy your cryptocurrencies.
But to gain complete confidence about investing in Tether we give you the many powerful facets of this cryptocurrency.
Why is Tether your best choice?
Tether owes its sudden popularity entirely to its unique model of flow between traders and exchangers. Being one of the most stable coins in the cryptocurrency market, Tether is one currency that can get you roughly equal value to that of the US dollar. Plus, comes along its ease of use, security, high transparency, affordability, and low-cost solution that stands out in front of other cryptocurrencies.
To wrap it up, Tether is one single coin performing multiple functions: investment, trading, and exchange.
So, when do you decide to invest in such a powerful virtual currency?
Let’s find out.
What’s the best time to invest in Tether?
There is a viral Chinese proverb saying, “the best time to plant a tree was 20 years ago. The second best time is now.”
The same applies to Tether.
But if your frown lines have started occurring on your forehead, here’s a detailed explanation as to why you should start today. Tether has amassed many eyeballs in the last years and with good reasons. The ease of use, stability, and traditional currency flow model all added up to its popularity among crypto traders. If you are thinking of investing in Tether this year, you are already on the right track.
But if you are not completely convinced, here are the top reasons why.
1.The gamut of benefits: Tether renders immense flexibility and stability in asset exchange making it the first choice of traders in a highly volatile market. Backed up by mainstream currencies like the dollars and euros, it makes transactions smooth and simple.
Plus comes its high transaction transparency levels and low price swing compared to other cryptocurrencies in the market.
2. Fee structure: Storing your assets in Tether gives you an added advantage of safeguarding your monetary assets against market volatility. It is way easier for you to move your money without any fees. What you need to pay close attention to here are the fees you will be charged every time you convert your tether currency into fiat currency or vice versa.
The transaction fees of Tether are far lower in comparison to other crypto coins. But again, their total value is almost equal to the US dollar. This means if you keep $1000 USDT in your hardware wallet, it is almost equivalent to $1000 US dollars any day. This makes the calculation of total assets super easy.
But storing your gains in a Tether that is tied to the US currency can save you from being charged. You can buy Tether on Moonpay easily.
3. Opportunities: 2021 is sure to be the golden era for Tether. Its value is increasing significantly since 2020. But what is exciting here is to note that the total evaluation of the USDT currency is expected to cross the USD coin valuation.
4. Futurescape of tether: Founded in 2014, Tether has garnered massive attention from the crypto audience right from its launch. With time its popularity just touches new heights each year. Its unique operation model is sure to revolutionize international transactions making it the maximum used asset exchange mode. Infact, it has all the qualities to become the best method to store gains from the world of crypto and asset management alike. The day is not far when investors and traders would hold their assets in Tether instead of gold.
The future of Tether ultimately is directly dependent on what the cryptocurrency holds in the future. Each nation that is associated with the crypto revolution holds its own regulations and protocols concerning cryptocurrency. Thus, the only impeding factor lies in the contagious revolution that Tether is making in the modern-day currency.
But here’s a word of caution.
Although revolutionary in its own right, even Tether has its innate flaws. This means to make most of this cryptocurrency; you need to be informed about a few things.
Challenges and Risks
Like everything else, Tether comes with its own shortcomings. Operating in a centralized system, the Tether is pivoted and managed by Tether Limited, incorporated under the British Virgin Islands. This means any changes made in the operation of the currency affect your trading style. You do not have complete control over your assets at all times.
The true original vision behind the design and development of Tether was to fill the gap between fiat currencies and cryptocurrencies. As a result, it would have created a more stable, transparent, and minimal transaction-fee ecosystem for users. Although compared against the US dollar maintaining a 1 on 1 ratio in terms of value, there is no guarantee of its centralized body value estimation. This directly means Tethers cannot be exchanged in return for US Dollars by 100 percent.
Speculations are there that Tether is working to fix the existing issues with the currency. The central directory proposes decentralizing the cryptocurrency (Tether) to attract new audiences, both traders and alike. Other than this, the company keeps on making the required changes.
Knowing the right time for investing in Tether will mean nothing if no action is taken. So, now the buy question is how do you buy Tether?
Buying Tether the right way
If you are planning to invest in Tether, feeling anxious about your hard-earned money is natural. But you can easily take out all your anxieties. While safeguarding cryptocurrencies, there are two things that you need to be vigilant of stability and control of your crypto assets.
A hardware wallet is a complete solution to all your problems. It protects your money while rendering you exclusive control of your assets simultaneously. You can directly buy Tether on Moonpay via bank or credit or debit card and send it to your hardware wallet in real-time. So, what is precisely a tether wallet?
Hardware wallet to secure your tether
The function of a hardware wallet from Tether is to secure your private key, not store your Tether currency.
Here is how it works – if you are a newbie in crypto, it is natural to struggle with realizing the importance of the private key principle. The only way to get hold of cryptocurrencies is by buying crypto coins through an exchange site. All these coins you buy carry private keys to your cryptocurrency, a critical piece of knowledge required to grant access to outgoing transactions on the blockchain network.
Holding private keys renders you access to your crypto. You can think of it as having access to a pin code on your credit and debit cards that lets you access your funds.
The crypto world is a revolution all by itself. With empowering the concept of a decentralized economy, it is sure to be the trading world’s next movement. Tether definitely has a high impact on driving this movement forward. But it’s too early to measure its impact. As for 2021, from an investment standpoint, Tether is undoubtedly one of the most decent investment plans, especially if you are just starting in the crypto world.
There are a lot of online stores that accept cryptocurrencies for completing purchase transactions. From online shopping sites to dating apps to social media sites like Facebook, all are now a part of this change.
It is safe to say that the USDT is on its way to change the existing practice of e-commerce, transactions, payments, banking, and even national currencies.