Tether OMNI USDT
$0.99948 0.02%
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Updated at 01:50$110,789,519,370.84
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$57,087,030,927.34 6.89%
-$0.00022 0.02%
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What about Tether?
Tether is a stablecoin that was designed to be pegged to real fiat cryptocurrency — namely, the US dollar. The company behind USDT, Tether Inc, assures crypto lovers that every USDT is backed by a dollar held in Tether’s reserves. USDT’s value became intuitive, so investors cannot be confused by any price changes since there is no such thing. What’s more?
At the beginning of its history, in 2014, this cryptocurrency was called Realcoin. It received its familiar name — Tether — after the rebranding.
USDT is one of the most widely accepted cryptos on the market: it has a trading pair with almost every coin.
Already in December 2017, Tether’s supply surpassed one billion tokens. Nowadays, there are more than 67 billion coins in circulation.
Tether is compatible with many different blockchains. So, you can buy or exchange the same USDT token based on the Ethereum blockchain or the Omni layer.
Buy Tether OMNI Without Any Hassle
Tether USD (USDT) is a technology company that specializes in issuing fiat currencies on the Bitcoin blockchain technology.
There are many assets in the world that people choose as a store of value, a medium of exchange, or an investment. Tether believes that the Bitcoin blockchain is a better technology for handling these assets. The global wealth is estimated to be around 250 trillion dollars, with a large portion of it held by banks. Bringing these assets onto the Bitcoin blockchain presents a great opportunity.
Bitcoin was created as an electronic payment system that doesn't rely on trust. It introduced a new type of digital currency called cryptocurrency. Cryptocurrencies have advantages as low transaction costs and international transferability. However, they have limited mainstream use due to volatility and lack of understanding. Tether is bringing a solution in fiat-pegged cryptocurrencies called "tethers."
Tether claims that each tether token is issued on the Bitcoin blockchain and backed by the corresponding fiat currency held in deposit by Tether Limited. Tethers can be redeemed for fiat currency or the equivalent value in Bitcoin. Once issued, tethers can be used just like Bitcoin or any other crypto asset: they can be transferred, stored, spent, etc.
The price of tethers is tied to the price of the underlying fiat currency. For example, the USDT price is tied to that of the US dollar. On this webpage, you can access the current USDT price and buy USDT instantly, using familiar payment methods like a debit card, credit card, wire transfer from your bank account, and more. Changelly facilitates seamless and secure crypto purchases.
Tether Advantages
The implementation of Tethers has some advantages over other fiat-pegged cryptocurrencies:
Tethers exist on the Bitcoin blockchain, which is more established and tested, compared to other blockchain platforms.
Tethers can be used just like Bitcoins, in a secure and decentralized environment.
It's easy to integrate tethers with merchants, exchanges, and wallets, just like any other cryptocurrencies.
Tethers inherit useful properties from the Omni Protocol, such as a decentralized exchange and secure wallet encryption.
The Proof of Reserves approach reduces counterparty risk as the custodian of the reserve assets.
Tether issuance or redemption is not constrained by pricing or liquidity issues, allowing users to buy or sell quickly and with low fees.
Tethers are not exposed to market risks, as reserves are maintained in a one-to-one ratio.
Tether's one-to-one backing implementation is easier for non-technical users to understand, compared to other strategies involving collateralization or derivatives.
Tether Technology
Tether Limited, based in Hong Kong, issues tethers in a one-to-one ratio with fiat currency held in Tether’s reserves. The company acts as a trusted third party, responsible for the backing asset. They use a simple implementation to reduce complexity and increase security, provability, and transparency in audits.
The Tether technology stack comprises three layers, each with unique features.
The first layer is the Bitcoin blockchain, where the Tether transactional ledger is embedded.
The second layer is the Omni Layer protocol, which allows for the creation, tracking, and transacting of tethers.
The third layer is Tether Limited, responsible for accepting deposits, issuing and revoking tethers, and custody of fiat reserves.
The company publicly reports audit results and manages integrations with other wallets, exchanges, and merchants. The project’s web-wallet, Tether to, makes it convenient for users to send, receive, store, and convert tethers.
Tether's Proof of Reserves is a mechanism designed to provide transparency and assurance to users that the issued a supply of Tether USD (USDT) is fully backed by underlying assets. It aims to address concerns about the legitimacy and solvency of Tether, as it operates as a stablecoin that can remain pegged to the value of the U.S. dollar.
The Proof of Reserves process involves regular audits of Tether's bank accounts and holdings. Independent accounting firms are engaged to verify that the amount of US dollars held by Tether matches or exceeds the outstanding USDT supply. These audits confirm that Tether has sufficient reserves to back each USDT in circulation with an equivalent amount of real-world assets.
Tether initially introduced Proof of Reserves in 2014, and since then, multiple audits have been conducted to ensure transparency. The process involves the auditing firm scrutinizing Tether's bank balances, reviewing transaction history, and verifying the existence and authenticity of the reserves.
How Does Tether Work?
Tether USDT is a stablecoin pegged to the US Dollar. A stablecoin is a type of digital currency whose value is pegged to another fiat currency like the US Dollar or to a commodity like Gold.
Tether does not have its own blockchain. Tether tokens are digital tokens that are built on various leading blockchain networks, such as Algorand, Avalanche, Bitcoin Cash's Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Polygon, Tezos, Tron, Solana, and Statemine. These blockchains employ open source software to enable the issuance and redemption of Tether tokens.
Each Tether coin is fully backed by reserves, including traditional currency, cash equivalents, and potentially other assets and receivables from loans made by Tether to third parties. The company is committed to maintaining complete transparency regarding the backing of its tokens and the number of tokens in circulation.
Initially, Tether was designed to utilize the Bitcoin network, specifically the Omni Layer, for transactions involving tokenized traditional currency. By leveraging the stability and security of the longest established blockchain network, Tether on the Bitcoin blockchain provided a reliable solution.
With the introduction of Tether on the Ethereum blockchain as an ERC20 token, users now have access to Tether in Ethereum smart contracts and decentralized applications. This ERC20 token can be sent to any Ethereum address, offering greater flexibility.
When sending Tether tokens to other addresses, it is important for users to verify the destination address carefully to ensure they select the appropriate transport protocol, as Tether tokens are available on different blockchains.
Tether offers tokens backed by USD, EUR, MXN, CNH, and XAU, represented as USD₮, EUR₮, MXN₮, CNH₮, and XAU₮.
How Are Tether Tokens Created?
Tether tokens (USDT) are created through a process involving multiple Tether private authorization keys. These keys are used to sign and broadcast creation transactions on a specific blockchain. However, it's important to note that the newly created tokens are initially "authorized but not issued," meaning they are stored in Tether's treasury and not yet in circulation.
The purpose of this approach is to ensure that the issuance of USDT coins is not solely dependent on a single person. By utilizing a multi-signature (multi-sig) model, Tether mitigates the risk of a single point of failure and enhances security. This prevents any individual from unilaterally issuing USDT, thereby maintaining the integrity and stability of the Tether ecosystem.
Once these authorized tokens are created, they can be issued into circulation in response to market demand. This allows Tether to control the total supply of USDT and maintain its intended peg to the US dollar.
Who Can Benefit from Tether (USDT)?
Various individuals and businesses can benefit from Tether today.
Cryptocurrency Exchanges
For digital asset exchange operators, accepting fiat deposits and withdrawals using traditional financial systems can be complicated, risky, slow, and expensive. However, by offering Tether coins, crypto exchanges can overcome these complications. They can accept crypto-fiats as a deposit/withdrawal/storage method, allowing users to move fiat in and out of exchanges more freely, quickly, and cheaply.
They can also outsource fiat custodial risk to Tether Limited and easily add other tethered fiat currencies as trading pairs to their platforms. Furthermore, cryptocurrency exchange operators can secure customer assets purely through accepted crypto-processes, conduct audits easier and more securely, and perform all the functions available with Bitcoin.
Individuals
Individual Bitcoin users can also benefit from using Tether. They can transact in USD/fiat value pseudo-anonymously without any middlemen or intermediaries. They can cold store USD/fiat value by securing their own private keys and avoid the risk of storing fiat on exchanges. By using Tether, they can easily enhance applications that work with Bitcoin to also support tether, and like exchange operators, they can perform all the functions available with Bitcoin.
Our USDT price chart with real-time updates can help users track the latest changes in USDT's market value and make measured decisions based on accurate and up-to-date information.
Merchants
Merchants also stand to gain from using Tether. They can price their goods in USD/fiat value rather than Bitcoin, eliminating the need for constantly converting rates and purchase windows. They can avoid the conversion from Bitcoin to USD/fiat and the associated fees and processes. By using Tether, merchants can prevent chargebacks, reduce fees, and gain greater privacy.
They can also provide novel services because of the fiat-crypto features that Tether offers, such as micro tipping and gift cards. Just like exchange operators and individual Bitcoin users, merchants can perform all the functions available with Bitcoin.
Who Established Tether?
The founders of Tether, initially launched as Realcoin in 2014, are Brock Pierce, Reeve Collins, and Craig Sellars. Brock Pierce is a renowned entrepreneur involved in various crypto and entertainment projects, including co-founding Blockchain Capital and Block one. Reeve Collins served as the CEO of Tether during its first two years and has founded successful companies like Traffic Marketplace and RedLever. Craig Sellars, apart from his work on Tether, has been affiliated with the Omni Foundation and has worked in various cryptocurrency organizations such as Bitfinex, Factom, Synereo, and the MaidSafe Foundation.
Tether (USDT) Price Today
Changelly provides a detailed price chart, reflecting the current price of Tether USDT, with a current market cap (market capitalization), 24 hour trading volume, recent price change, and circulating supply of USDT coins. Our USDT to USD price is updated in real-time.
Apart from the live price of Tethers USDT, through our comprehensive Tether price chart, you can also learn about the USDT price history, including the asset’s all-time low and all-time high price.
The highest price paid for the USDT token is $5.69. The lowest price paid for the USDT token is $0.91.
If you are wondering how many Tether (USDT) coins are there in circulation, Tether does not set a maximum supply for USDT and issues new USDT tokens based on demand and reserves.
Although the USDT coin is a stablecoin whose value is linked to an underlying real-world asset (the US dollar), its market price can indeed fluctuate. Read our USDT price prediction to know what factors can affect the USDT price and how the USDT (Tether) price may perform in the future years. With our USDT price statistics and USDT price forecast, you can equip yourself with the right data to empower your investment choices.
What Wallet is Used to Store USDT?
USDT (Tether) can be stored in various wallets, including software wallets, hardware wallets, and exchange wallets. Some popular wallet options for storing Tether holdings include MyEtherWallet (MEW), Trust Wallet, Ledger Nano S, and MetaMask. It's important to choose a reputable crypto wallet to keep Tether safe, and follow proper security measures to protect your funds.
Where to Buy Tether (USDT) Tokens?
People easily trade Tether on numerous cryptocurrency exchanges. USDT's daily trading volume often matches or exceeds that of Bitcoin, particularly on crypto exchanges without fiat-to-crypto trading pairs. It serves as a viable alternative to USD in such cases.
The market cap of Tether is also some of the largest in the industry, exceeding $86B. A high market cap implies that the asset has a significant amount of value and is widely recognized and traded in the crypto market. It indicates a large investor base and reflects the market's confidence in the asset's stability and liquidity.
Changelly is the ultimate destination for crypto investors to buy USDT tokens or any other digital asset, like Bitcoin, USD Coin, or Binance Coin. With its user-friendly interface, seamless transactions, and competitive rates, Changelly makes it easy and convenient to buy crypto. If you wish so, you can also easily sell Tether for fiat money or other digital currencies on our platform.
Whether you're a beginner or an experienced trader, Changelly provides a secure and trustworthy platform to buy, sell, or exchange Tether tokens. Join the Changelly community and experience the best crypto exchange platform for yourself!
If you want to buy Tether (USDT), you must realize that a stablecoin like Tether (USDT) can lose its peg with the underlying real-world asset, the US dollar. Several factors can contribute to such a loss. Some potential reasons to put a pressure on the Tether price include insufficient USD reserves, regulatory issues, loss of confidence from users (market sentiment), or a significant disruption in the financial system.
Tether (USDT) has faced criticism. Some of the main criticisms include:
Lack of transparency. Tether has faced scrutiny regarding its claims that each USDT token is backed by the United States Dollar in a 1:1 ratio. Critics argue that Tether LTD hasn't provided sufficient evidence to verify these claims.
Regulatory concerns. Tether operates in a relatively unregulated space, which has raised concerns about potential money laundering and lack of compliance with regulatory standards.
Market manipulation. Tether has been accused of manipulating crypto markets by issuing large amounts of the USDT stablecoin without proper backing, thereby artificially inflating the prices of other cryptocurrencies.
Legal issues. Tether has faced legal challenges, including an investigation by the New York Attorney General's Office. The company settled the case and agreed to pay an $18.5 million fine, while also disclosing certain financial documents.
Although stablecoin issuers strive to maintain the peg, the cryptocurrency price is not guaranteed, and there can be risks associated with the stable value of any stablecoin. Like with other crypto assets, tether trading is subject to high market risk and price volatility.
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