Tether PRICE USD CHART

USD Tether (USDT) is a stablecoin that maintains a 1:1 price ratio with the US dollar. USDT offers a crypto alternative to holding fiat currency reserves so that stability of excess/unused funds can be assured without migrating them out of the system.

USD Tether is a fiat-collateralized stablecoin where the price stability is ensured by physical USD reserves and other equivalent liquid assets like commercial papers and treasury bills sitting in bank accounts.

USDT has been developed by a Hong-Kong based entity named Tether, which controls the supply of USDT by minting and withdrawing units of USDT tokens.

USD Tether is a custodial stablecoin issued by Tether which maintains reserves of the US Dollar and other equivalent assets whose cumulative value is equal to the total value of the circulating supply of USDT tokens in the market.

USD Tether, formerly known as “RealCoin” was founded in July 2014 by Brock Pierce, Craig Sellars, and Reeve Collins. It is one of the earliest and one of the largest stablecoins by market capitalization. The fiat collateralization model for stablecoins was first introduced by Tether and has grown to become the most prominent stablecoin framework.

Tether has had a tarnished reputation in recent years, owing to the ambiguity of its proof of funds. The company behind USDT has been unable to provide satisfactory financial statements to prove the presence of adequate USD reserves to back its circulating supply.

The USDT tokens are secured against sufficient USD reserves to match its circulating supply. These reserves must be audited by trustworthy authorities to ensure that they are maintained adequately. The Tether issuance model ensures that each USDT token can be used to claim $1 from the Tether reserves at any time.

On Bitcoin, USDT is issued as tokens on the Omni layer protocol whereas they are issued as ERC-20 tokens on the Ethereum network. Bitcoin and Ethereum are the two most decentralized and secure blockchains in web3, which ensure that USDT transactions are recorded on public ledgers for anyone to verify.

While USDT transfers can be secured and verified through decentralized blockchain networks, the techniques used for the storage of the tokens is a crucial variable affecting their security. Online (hot) wallets are pretty common but they are susceptible to online scams. Centralized exchanges are quite commonly used for storing crypto assets owing to their convenience, but they hinder true ownership of tokens by hiding the private keys of the wallets where they’re stored.

Using a hardware (cold) wallet takes the token off the grid, therefore out of reach of scammers and harmful malware. Hence, this is the most secure storage technique available in the market.

Investors conventionally store their crypto assets in online wallets or on centralized exchanges. CEXs are a threat to investor privacy due to KYC requirements and even online wallets have several points of failure that compromise security.

With Ledger, investors can simultaneously buy and transfer USDT into secure hardware wallets that provide complete control over the private keys.

With Ledger Live, users can track the performance of their investments in real-time, on their desktops or mobile phones.

Ledger services are incredibly user-friendly, there are even provisions to transfer funds from TradFi accounts like PayPal or Credit/Debit cards. Follow the following steps to start buying USDT with Ledger:

1. Get a Ledger Hardware Wallet. 
2. Download Ledger Live on a web or mobile device. 
3. Install the Ethereum application on the hardware wallet from the Ledger Live dashboard. 
4. Create a designated USDT account after setting up Ledger Live. 
5. Start buying USDT using Ledger Live and its partners: Coinify and Wyre.

Users can buy USDT as ERC-20 tokens with Ledger. They can also make swaps and trades for a dynamic investment portfolio to stay ahead of the curve. Numerous swap pairs offered by Ledger can be accessed as follows:

1. Get a Ledger Hardware Wallet.
2. Download Ledger Live.
3. Install the ‘Exchange’ application on Ledger Live, along with the applications for the coins you wish to swap.
4. One must have USDT in the linked hardware wallet to facilitate the swap.
5. Once there are sufficient assets in the wallet, swapping is possible.