Tether, the cryptocurrency of the stablecoin type that states that each of its tokens is backed by a US dollar, it is issued by the company Tether Limited and since its origins it has been involved in various controversies.
Tether It was the first stablecoin to exist. It was launched in 2014 by businessman Reeve Collins; bitcoin investor Brock Pierce; and the developer, Craig Stellers. Since then it has become the most important by market capitalization.
Tether was originally available through the Omni Layer, but can now be accessed on several blockchains. With the approval of Tether Limitedyou can switch between USD and Tether, a mechanism that helps keep the stablecoin anchored.
The Tether Limited network is in turn controlled by the owners of the Bitfinex cryptocurrency exchange, which was accused by the New York Prosecutor’s Office of using Tether funds to cover 850 million in missing funds since mid-2018.
The value of the Tether cryptocurrency at 08:30 hours (UTC) today is $1,000393 per unit.
This means that the digital asset registered a change of -0.01% in the last dayas well as a variation of -0.02% in the last hour.
Currently, Tether is in the #3 place of popularity in the digital market. It is worth mentioning that the historical maximum that this cryptocurrency has reached is 1.21549 dollars per unit.
Virtual currencies are currencies that do not physically exist and, unlike currencies like the dollar, euro or peso, they are not regulated by any institution and do not need intermediaries in transactions.
Consequently, they are regularly not viewed favorably by the formal market and are accused of being unreliable, volatile, promoting fraud, not having a legal framework that supports their users, and allowing the operation of illegal activities, among others.
However, little by little they have opened the way to such a degree that companies, millionaires and even States have encouraged or legalized its use.
These cryptocurrencies work through cryptographic encryption that guarantees the security of transactions., as well as the control of the creation of its units. To make transactions, virtual currencies use a decentralized database, blockchain or shared ledger.
Currently there are different cryptocurrencies in this unregulated market, however, the pioneer was Bitcoin, created in 2008, with it others emerged such as litecoin, ethereum, bitcoin cash, ripple, dogecoinsome of the most popular.
One of the richest men in the world, Elon Muskhas made comments in favor of cryptocurrencies such as bitcoin and dogecoin, even temporarily accepting the digital currencies at his electric car company Tesla, which has triggered the increase in their cost.
To buy any of the cryptocurrencies in this unregulated market you must go to specialized websites.
It is worth mentioning that the price of each of these digital assets varies depending on supply and demand, as well as the commitment of the users themselves, which can cause abrupt changes.
This means that the more people are interested and want to get hold of any cryptocurrency, the higher its value will be and vice versa.
However, anyone who invests in this type of digital currency must be very clear that this form brings with it a high risk to capitaljust as there may be an increase, it may also unexpectedly crash and wipe out the savings of its users.
