Where Tether is Accepted Locally and Globally
One USDT represents one US Dollar, it’s a stablecoin if you consider the US Dollar stable. Tether is blockchain technology for the legacy fiat system, tokens that can be redeemed as US Dollars, Euros, and Chinese Yuan.
Despite all its shady high financial entanglements over 700 businesses accept it; Personal Protective Equipment suppliers, a chic vacation rental in Venice, a boutique hotel nestled in the Andes of Argentina, and many more.
Who Accepts Tether
Should you buy Tether?
I’m a bit mystified as to why any self-respecting cryptocurrency enthusiast would want to invest in Tether, especially considering the inevitable inflation of the US Dollar. According to their website’s FAQ section, All Tether tokens are backed 100% by Tether’s reserves, so you’re trusting them to actually have the fiat money backing up the crypto. Many cryptocurrency financial forensic investigators challenge that it’s actually backed by cash reserves. You must pass Tether’s KYC requirements to redeem the crypto as dollars or other fiat currencies. If you want to invest in a stablecoin as a hedge against inflation, gold-backed crypto is a better bet.
Are you an Entrepreneur, freelancer, or manager of a business accepting cryptocurrency?
Advertise - MarketplaceGOLD
What do you offer in exchange for Cryptocurrency, Precious Metals, or Digital Gold? We offer... Our primary business…
A digital token backed by fiat currency provides individuals and organizations with a robust and decentralized method of exchanging value while using a familiar accounting unit. The innovation of blockchains is an auditable and cryptographically secured global ledger. Assetbacked token issuers and other market participants can take advantage of blockchain technology, along with embedded consensus systems, to transact in familiar, less volatile currencies and assets. In order to maintain accountability and to ensure stability in exchange price, we propose a method to maintain a onetoone reserve ratio between a cryptocurrency token, called tethers, and its associated realworld asset, fiat currency. This method uses the Bitcoin blockchain, Proof of Reserves, and other audit methods to prove that issued tokens are fully backed and reserved at all times.
From the abstract of the Tether whitepaper
Tether is a controversial cryptocurrency with tokens issued by Tether Limited. It formerly claimed that each token was backed by one United States dollar, but on 14 March 2019 changed the backing to include loans to affiliate companies.