Tether Trading Guide: Everything you need to know about USDT
Without any doubt, Tether (USDT) is one of the most well-known stable coins in crypto. No matter you are a beginner to cryptocurrency or a trading expert, USDT is one of the must-have coins in our portfolios. A report from CryptoCompare shows that nearly 80% of Bitcoin transactions are done on Tether. It shows that Tether is indeed a major source of crypto liquidity. This tether trading guide will explain everything you need to know about USDT.
Crypto Pro specializes in global digital asset management. One of our specialties is to provide exchange service in Tether. To help you understand thoroughly about Tether, we have prepared you with an all-in-one Tether trading guide.
Background: what is Tether (USDT)
USDT is a stable coin pegged to the U.S. dollar at a 1-to-1 ratio. In other words, if investors hold 100 USDT, it means they also own 100 USD in value. Tether tokens are issued by Tether Limited, a Hong Kong-based cryptocurrency exchange operated by Bitfinex. Every Tether token is currently traded under the symbol USDT, which is the native token of the Tether network and trades under the symbol USDT.
To understand more about the background of Tether, read our USDT beginner guide.
Why should we include the USDT in our crypto portfolio?
There are various benefits of traders holding USDT in their crypto portfolio. One of the benefits is allowing them to diversify their assets under uncertain political situations. With the property of pegging to the US dollar in a 1 to 1 ratio, it makes Tether a haven for cryptocurrency traders and investors in a turbulent market. We can seamlessly exchange USDT into fiat. Also, it offers traders a stable place to put their money when exiting the exchange in BTC, ETH, or other relevant cryptocurrencies.
Tether (USDT) also has the same benefits as other cryptocurrency tokens on the network, which are peer-to-peer trading and PoW or PoS security, making it a desirable hedging tool for traders and users alike.
To understand more about why we should include USDT in our crypto portfolio, read our post on why we should include USDT in our crypto portfolio.
Where to exchange Tether?
There are several ways to make the Tether exchange. It can be bought or sold on different exchange platforms, the digital asset OTC (over-the-counter) desk, or traded through credit card or PayPal. However, depending on your nationalities and the fiats that you would like to exchange, you might have to trade through different approaches. Here are our guides for you to exchange USDT with different currencies, including USD, RMB and HKD.
Read our guide to exchanging USD with USDT
Read our guide to exchanging RMB with USDT
Read our guide to exchanging HKD with USDT
Although Tether is a stablecoin, there is still risk in making an exchange in Tether. You should always evaluate the associated risk level before investing in any of the investment options!
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