{"id":11310,"date":"2023-09-13T08:09:21","date_gmt":"2023-09-13T05:09:21","guid":{"rendered":"https:\/\/blog.egemoney.com\/?p=11310"},"modified":"2023-09-14T14:58:51","modified_gmt":"2023-09-14T11:58:51","slug":"what-is-tether-usdt","status":"publish","type":"post","link":"https:\/\/blog.egemoney.com\/en\/what-is-tether-usdt\/","title":{"rendered":"What is Tether (Usdt)?"},"content":{"rendered":"<p id=\"breadcrumbs\" class=\"yoast\"><strong>Tether (USDT)<\/strong> is a cryptocurrency known as a \u2018Stablecoin\u2019 designed to consistently provide a stable price point. The USDT cryptocurrency was created by Tether Limited Company to function like a dollar over the internet. Each token of this currency is worth 1.00 USD and is also reserved as 1.00 USD in physical reserves.<\/p>\n<div class=\"post-area col span_9\" role=\"main\">\n<article id=\"post-6338\" class=\"post-6338 post type-post status-publish format-standard has-post-thumbnail category-egemoney category-egemoney-akademi-en\">\n<div class=\"inner-wrap\">\n<div class=\"post-content\" data-hide-featured-media=\"1\">\n<div class=\"content-inner\">\n<p><strong>Tether<\/strong> is a government-backed stablecoin. This means it is a stablecoin supported by a government-guaranteed currency such as USD, CAD, AUD, and even Yen (JPY). Tether was created to provide a bridge between government-backed currencies and blockchain asset types, offering USDT users a transparent environment, stability, and low fees.<\/p>\n<p><strong>Tether<\/strong> was launched in July 2014 and rebranded as Tether in November 2014. It started trading in February 2015.<\/p>\n<p>As of May 2022, <strong>Tether<\/strong> is the third-largest cryptocurrency after <strong>Bitcoin<\/strong> (BTC) and <strong>Ethereum<\/strong> (ETH), and the largest stablecoin with a market value of approximately $83 billion.<\/p>\n<h2>How Does Tether Work?<\/h2>\n<p>Each Tether (USDT) processed is backed by assets valued at one US dollar. Initially, all Tethers were processed through the Omni Layer protocol on the Bitcoin blockchain, but they can now be processed on any chain that Tether currently supports. Once a Tether (a single US dollar unit) is processed, it can be used in the same way as any other currency or token on the chain where it was processed. <strong>Tether<\/strong> currently supports the Bitcoin, Ethereum, EOS, Tron, Algorand, and OMG Network blockchains.<\/p>\n<p>When a user deposits fiat money into Tether\u2019s reserve by selling fiat money to purchase <strong>USDT<\/strong>, Tether gives the corresponding digital amount in tokens. USDT can then be sent, stored, or exchanged.<\/p>\n<p><strong>Tether<\/strong> uses the Proof of Reserves program. This means that at any point in time, its reserves will be equal to or greater than the number of Tethers in circulation.<\/p>\n<h2>How To Buy Tether (USDT)?<\/h2>\n<p><strong>To buy Tether<\/strong>, you need to have an account on\u00a0<a href=\"http:\/\/egemoney.com\/\">EgeMoney<\/a>. If you have already registered, log in. If you are not a member, you can quickly become a member and move on to the next step.<\/p>\n<p>You can send Turkish Lira 24\/7 from the \u2018Deposit\/Withdraw\u2019 tab by depositing Turkish Lira into your account.<\/p>\n<p>To buy Tether (USDT), you can buy as much Tether as you want instantly with the TL in your account from the \u2018Buy\/Sell\u2019 tab!<\/p>\n<p>Visit our\u00a0<a href=\"https:\/\/blog.egemoney.com\/en\">blog<\/a>\u00a0page for more information about Tether.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Tether (USDT) is a cryptocurrency known as a \u2018Stablecoin\u2019 designed to consistently provide a stable&#8230;<\/p>\n","protected":false},"author":5,"featured_media":7981,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[127],"tags":[],"class_list":{"0":"post-11310","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-egemoney-akademi-en"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is Tether (Usdt)? | Egemoney Blog<\/title>\n<meta name=\"description\" content=\"Tether (USDT) on EgeMoney: A leading stablecoin backed by USD reserves, bridging fiat to crypto. 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