What is Tether USDT Cryptocurrency? (Simply Explained)

Did you know that in December 2020

Rated Tether USDT
As the fourth cryptocurrency

After Bitcoin, Ethereum and XRP

With a market value of twenty billion dollars

Yes

Tether USDT

It is one of the most important currencies when
It’s about cryptocurrency trading

What is USDT

How it works

And why is it important

In this short video, stay tuned

Hi everyone

And you are watching the introduction of Tether USDT

What does tether mean in English?

Means to connect, connect or connect together

So Tether USDT is simply a stablecoin

Designed in a way

that one of the USDT coin
It equals one US dollar

Which is very important when you want to trade cryptocurrency

To avoid market fluctuations

Which is common among all cryptocurrencies in the market

As an example, here is the private binance account
B, let’s see this live to motivate you

If you go here to my account, you can see I have
Some of the USDT coin is around 2000 dollars

or 2000 USDT

Which is worth two thousand dollars

If you go here “to trade”, then to “trading
Classic” just to show you this now

I will go here and look for ADA cardano

And you can see this combination ADA/USDT

This means that you will trade cardano
Against USDT, not against the dollar

Because the market is very volatile so you need
Accurate buying and selling in a fraction of a second

And you want to get your profit directly

As an example let’s do it directly now

So this is one price of cardano today which is 2.09

So this is the price

I want to buy it around 50
Of which as an example, it costs 104 dollars

buy ADA

So I bought at 2.094

So now let’s wait, let’s split the chart every minute

And let’s see this

Now it’s going down

I might lose now

Anyway just to show you this in an example

Let’s see what happens now

Cardano’s price appears to be coming down

This is a very good candle

2.096 – 2.097

So you can see the price now is 2.097

I will sell it when it reaches 2.096 for profit

I will sell 50 Cardano at 2.097

Sale

Wow, you made a profit

It’s not a big deal but I
You have now made a profit in a few seconds

Anyway the idea is USDT will help you
Buy and sell directly while you are trading in the market

This is a volatile market, as you can see

It’s moving every second

And maybe it goes down sometimes
Now this is a very simple example

When you work with bitcoin
or other cryptocurrency

It might go down like two hundred and three hundred dollars
A dollar may rise to a thousand dollars and so on

So you need to take direct action

USDT will help you convert
Your cryptocurrency to USDT directly

To save your account and get
on your profits or stop your losses

Hope you get the idea

to sum things up

USDT is a coin or Tether
It is a currency linked to the US dollar

So each Tether equals one US dollar

You can see here coinmarketcap

This is the date or chart of USDT

It’s always about a dollar
One, so it is a stable currency

It is very important when trading and dealing with
Market or cryptocurrency market fluctuations

So what are the other benefits of Tether

or Tether use cases

Tether also allows you to transfer
Your money between different exchanges

This is also important in trading
Arbitrage if you are familiar with it

Where there is a difference in price between different exchanges and you want
Move your money directly to achieve this small profit

USDT will also help you in this case

Other Use Case: In some countries it may not be able to
Some people buy cryptocurrency directly

So this way they can order from
Someone buy USDT, who is stable

and send it to his account so that he can
Who started trading with Tether USDT

There are also some trade-offs
that only allow USDT trading

So they don’t allow free coins
Like dollar or euro etc.

So this coin will help you in trading
In such exchanges and these platforms

What else you should know is that the odds of USDT
Tether owns other stablecoins

Like the EURT, which is linked to the Euro

And the CNHT which is linked to the Chinese yuan

The XAUT which is linked to physical gold

Hope you enjoyed this
Small video about USDT

I get the idea

Hope you get the idea

If you have any questions, anything you want

Comment it below
I will be very happy to follow up with you

See you later

Leave a Reply