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Tether Price History and Everything You Need to Know

Yayın Mohamed Saber Farrag - Oct 12, 4:00 AM

Summary

  • Tether or USDT is a crypto currency

  • It always has a worth of $1, unlike other cryptocurrencies, which makes it a stablecoin

  • Stablecoins make it easy for investors and traders to avoid volatility risks in the cryptocurrency markets. At Rain you can get the best Tether price to buy, sell, and trade Tether for other fiat currencies and cryptocurrencies in GCC and Turkey

  • Tether price history has been quite stable compared to others. (You can learn more in this article, so keep reading)

  • The Rain app makes it easy and safe for users to trade Tether

  • Tether is available on the Bitcoin blockchain, and also on others like Tron, EOSIO, and Ethereum.

  • Rain is a licensed and secure crypto exchange platform where you can get the best Tether price

Unlike other cryptocurrencies, the Tether price or USDT price has remained steady and maintained its value at 1USD since its launch. There have been some controversies and misunderstandings surrounding the Tether (USDT). Keep reading to learn how it works, how to use it, and whether it is a good asset to own.

What Is Tether (USDT)?

Tether or USDT is a digital or cryptocurrency distributed by Tether Limited. The owners of Bitfinex control the company. Tether is a stablecoin, originally known as “Realcoin” when it launched in 2014. It is considered stablecoin because it is designed to always have a worth of 1 USD. In other words, Tether is a digital dollar. At Rain, you can be sure to get the best Tether price to buy and sell or to exchange it for other cryptocurrencies and various fiat currencies.

The best way to explain Tether or USDT is as a stable-value cryptocurrency or stablecoin. The equivalence of the token’s peg to 1USD is achieved by maintaining a sum of treasury bills, cash, reserve repo notes, commercial paper, and fiduciary deposits in reserves. The sum is equal in USD value to the total USDT tokens in circulation.

Who Are the Founders of Tether?

Reve Collins, Craig Sellars, and Brock Pierce launched USDT in 2014, with the name Realcoin at that time.

For the first two years, Reve Collins was the CEO of Tether. Before this, he co-founded other projects like Traffic Marketplace (online ad network), RedLever entertainment studio, and Pala Interactive (gambling website). In 2020, Reve started heading SmarMedia Technologies, an advertising and marketing tech company.

For more than six years, Craig Sellars has been an associate of the Omni Foundation. The Omni protocol allows creating and trading smart-contract-based currencies and properties built on the Bitcoin blockchain. He has also worked in other cryptocurrency organizations and companies like MaidSafe Foundation, Factom, Synereo, and Bitfinex.

Pierce is a renowned entrepreneur who also co-founded numerous high-profile projects in the entertainment industry as well as in the crypto world. He co-founded Blockchain Capital in 2013, which raised a funding of more than 80 million by 2017. He soon became the director of the non-profit organization “Bitcoin Foundation,” to help promote and improve Bitcoin. He also co-founded the company supporting EOS – Block.one, which is also one of the largest cryptocurrencies.

What Makes Tether (USDT) Unique?

Its unique feature is that the Tether company guarantees its value to remain pegged to the USD. Whenever Tether issues a new token, to ensure it is fully backed by cash equivalents, it allocates the same amount of USD to its reserve. This protects the Tether price from volatility, unlike other cryptocurrencies that experience extreme rises and falls. This makes the USDT a safe option for crypto traders during periods of high volatility. Moreover, the USDT makes it easy to make transactions equivalent to the USD across countries, regions, and continents through blockchain. It eliminates the need to depend on expensive and slow intermediaries like financial institutions and banks.

How Many Tether (USDT) Coins Are in Circulation?

Tether does not reveal its schedules for issuance before time. However, the company provides daily transparency reports, mentioning its liabilities and asset reserves. According to Tether, by September 2020, there were 14.4 billion USDT tokens in circulation, backed by 14.6 billion worth of assets.

How Does USDT or Tether Work?

The company (Tether Limited) keeps a reserve of the token, facilitates withdrawals, and fiat deposits. It also mints and destroys USDT tokens to stabilize their value.

Tether on Bitcoin

Tether launched in 2014 and was built on the Omni Layer, which is a protocol built using the bitcoin blockchain. Therefore, the USDT ledger is stored on the bitcoin blockchain. This makes it a Bitcoin sidechain, Liquid, and all transactions are easy to search using the Omni Explorer.

Tether on Other Blockchains

This cryptocurrency is not only available on the Bitcoin blockchain, but also others like Tron, EOSIO, and Ethereum. This means it is possible to create new assets natively on these platforms. So far, Ethereum is the largest market for USDT.

What Is Tether Used For?

Currently, rather than US dollars, most crypto trading pairs are prices in either USDT or other stablecoins. It is now possible to buy Tether (USDT) within five minutes and seamlessly move the funds. Moreover, users can turn digitized dollars into crypto assets and back again almost instantaneously.

There are three most frequent activities by users of Tether (USDT):

  • Trading: USDT users can easily exchange fiat currency to trade USDT, and use this cryptocurrency to buy other cryptocurrencies at a reduced fee. Moreover, the process takes much less time.

  • Lending: Lenders can use USDT as a landing asset without the risk of incurring losses due to the unpredictability of the Tether price in the market (as it is with all cryptocurrencies).

  • Cross-border payments: USDT users enjoy the option to transfer money anywhere in the world within minutes without reason to worry.

Why is Tether a Valuable Cryptocurrency?

Stablecoins make it easy for investors and traders to avoid volatility risks in the cryptocurrency markets. Assume you move some of your crypto assets to USDT. Because the Tether price is locked, you do not risk suffering losses due to sudden drops in the market value of the assets. At the same time, since you are not moving to fiat currencies, you do not incur crypto-to-fiat transaction fees.

Is It Safe to Hold Tether?

Right now, Tether is the largest stablecoin in the market, with no major competitors. Compared to other cryptocurrencies that are not stablecoins, it is very stable and ranks as the fourth major crypto asset. The whole point is that the USDT price has been at the 1USD mark and the team handling this cryptocurrency intends to maintain this. Therefore, Tether serves as a very useful tool for traders and investors. After seven years of steady success, it still has no signs of stopping. Right now, in the crypto space, Tether is too big to fail.

Tether Price History

By 26 February 2015, the Tether price was $1.21 but crashed to $1.00 on 11 March. After that, it remained steady at $1 until 12 August 2016, when it further dropped to $0.96. By 20 August it regained its market value at $1 and maintained it for several months. By April 2017, it had a low of $0.92 but quickly began to regain its value and reached $1.05 by 27 May. Throughout the year, it experienced several highs and lows maintaining its lowest at $1.

By 13 December, the USDT price rose to $1.08 but was down to $1 by 21 December. The next low point of the Tether price was on 11 March 2018, but it quickly regained its value back at $1. The USDT price remained steady until 21 October when it dropped to $0.98 but quickly got back to $1 by 29 October 2018. On 9 January 2019, the USDT price had a slight rise to $1.02.

Since then, the Tether price has maintained a steady market value and has not dropped below $1.

How Is the Tether Network Secured?

Tether or USDT does not have a blockchain of its own. However, it operates on top of blockchains of other cryptocurrencies, like Bitcoin, Ethereum, Tron, Bitcoin Cash, OMG, EOS, and Algorand. It remains secured through the hashing algorithms of these cryptocurrencies blockchains respectively.

Can You Buy Tether in GCC and Turkey?

Rain is a licensed and secure platform where you can get the best Tether price. You can buy, sell, and store Tether on a secure wallet through Rain. This platform supports Tether exchange to other cryptocurrencies and local fiat currencies.

Rain is a Tether Exchange?

A Tether exchange is an online platform where you can buy or sell USDT for other currencies.

Rain - A Reliable XRP Exchange

Rain is a licensed crypto-asset brokerage and custodian in the Middle East, endorsed by the CBB (Central Bank of Bahrain). It is the trusted custodian of several users. Exchange, buy, or sell Tether in GCC or Turkey through Rain starting now. For more information, feel free to contact support.

Buy Tether at the Best Price

Rain is one of the best and trusted Tether exchanges in the Middle East and Turkey. You can be sure to get the best Tether price for your transactions. Rain makes the process of Tether trading secure, fast, and easy. In addition, you can get customer support 24/7 through live chat or write to the team at [email protected]

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