Tether (USDT) Price – Current Live Value
Tether (USDT) is the largest 'stablecoin' cryptocurrency launched in 2015. The idea of this coin is that its value is pegged to 1 US dollar, and the value is backed by reserves held by the issuing company. Users of the digital currency can employ it to quickly convert out of or into other cryptocurrencies, while always retaining the same USD value during the transaction and not incurring the often much higher fees involved in crypto-to-fiat trades.
The value of Tether has for the most part maintained a strong peg to the value of the underlying US dollar, though this value has slipped on occasion, one time getting as low as 1 USDT being worth only 0.91 USD. That said, the usual variance in value is small and it is generally closed quickly.
Tether is most often used as a means of short term value storage for users looking to exit one or more cryptocurrencies but who do not want to make an often expensive fiat-to-crypto trade. By incurring smaller crypto-to-crypto fees, the user can convert their Bitcoin or Ethereum coins, for example, into USDT for an indefinite time period, and these funds will retain their underlying value in USD regardless of what the overall crypto market does during this period of time.
It is also useful as a means of transaction between cryptocurrencies who do not have direct trades supported on exchanges.