Types of tethers available in the network
Tether tokens have different types and names. Real Coin was the name of the initial Tethers. The name was changed to Tether on November 20, 2014. Tether Company announced that it intends to define a new experimental project. which will launch 3 tethers with the names USTether (US+) for the US dollar, EuroTether (EU+) for the euro, YenTether (JP+) for the Japanese yen. did All these test tokens will be supported by this company, and each token will be supported exactly as much as fiat currency, and users can convert these tokens into money whenever they want, and there will be no risk to these tokens.
In June 2017, Tether released all its Tethers on the Litecoin security layer. Tether then announced that it would launch ERC-20 tokens for dollars and euros on the Ethereum blockchain.
There are currently 4 different types of Tether tokens.
US dollar Tether on the Bitcoin blockchain security layer
Euro Tether on the secure layer of the Bitcoin blockchain
USD Tether as an ERC-20 token on the Ethereum blockchain
Euro Tether as an ERC-20 token on the Ethereum blockchain
What are the advantages of using Tether?
Easy money transfer
Using Tether (USDT), money transfers are done for everyone through decentralized networks, fast and cheap.
Zero inflation rate
One of the advantages of using Tether is that its value is always equal to one US dollar. Therefore, if the price of the dollar changes due to inflation or other factors, then the price of this currency will also change. Therefore, if someone invests in Tether, he will never experience a loss of capital.
Easy buying and selling
The most important advantage of using this digital currency is the possibility of buying and selling it at all hours of the day and night. So that whenever you want, you can sell your Tether at the daily price of fiat currency.
Digital currency platform upgrade
Tether helps other crypto platforms to upgrade their platform and be able to launch fiat currencies on their platform’s network.
Easy operation
Those who want to create a platform for themselves in the world of digital currencies for the first time should design it compatible with Tether. Because USDT is very easy to operate and you can easily exchange your fiat funds with Tether.
Easy conversion to other digital currencies
By buying Tether, you can easily convert it to other digital currencies.
Free transfers
One of the other advantages of using tether is that its transfers do not require paying fees and you can convert your tether to other digital currencies and vice versa without paying fees. But to convert it into fiat currency, you have to pay some of your capital as a service fee or fee to the source company.
High transparency and security
The high transparency and security of this stablecoin along with its lack of restrictions on buying and selling the number of digital currencies are among the important features of using this digital currency.