Tether is a cryptocurrency issued by the company Tether Limited. Born as a stablecoin, it was initially stated that each token was backed by a US dollar, however, several controversies have put this point on the table.
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 City Attorney’s Office of using Tether funds to cover 850 million in missing funds since mid-2018.
While the debate becomes more heated every day about the convenience or not of its use, Tether is trading this day at 0.99992 USD, which represents a change of 0.05% regarding the last 24 hours and a variation of 0.02% with reference to its value reached at 08:30 hours (UTC).
In terms of its market popularity, it has maintained the position number 3 among cryptocurrencies.
Digital currencies are currencies that do not physically exist and, unlike currencies such as the dollar, euro or peso, they are not regulated by any institution and do not require 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.
Even so, 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, Cryptocurrencies 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 its price increase.
To acquire any of the cryptocurrencies that exist in this unregulated market, you must go to specialized pages.
It is worth mentioning that the value 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 cost 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.
