Tether, the cryptocurrency of the stablecoin type that states that each of its tokens is backed by one 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 price of the Tether cryptocurrency for this day is 0.999362 dollars. This means that the digital asset registered a change of -0.01% on the last day, as well as a movement of 0.0% at 08:30 hours (UTC).
Due to its level of capitalization, this digital currency occupies the position number #3 among the most popular.
Cryptocurrencies They are no longer foreign elements and have begun to enter everyday language, awakening the interest of those who are concerned about finances or even reaching the level of being legalized in some regions of the world.
As their name suggests, cryptocurrencies they use cryptographic or encryption methods to carry out transactions in a decentralized system and, most of them, through block chains (blockchain), which distances it from traditional models where banks function as intermediaries.
Its innovation has caused many people to be interested in investing in digital currencies, since its value has increased considerably in recent years, being bitcoin, ethereum and dogecoin the most popular and those with the highest capitalization in the market.
Each of these units are founded through a process called “mining” and users can acquire them through various virtual currency agents or exchanges, and then store them in “cryptographic wallets” or make various transactions with them using unique keys.
Although It was in 2009 when bitcoin entered the market as the first cryptocurrency in the world.the truth is that these are just experiencing a boom in the financial field, so their use is expected to increase in the near future.
Cryptocurrencies have different characteristics that make them unique: not being regulated by any institution; not requiring intermediaries in transactions; and almost always use accounting blocks (blockchain) to prevent new cryptocurrencies from being created illegally or transactions already made from being modified.
However, by not having regulators such as a central bank or similar entities they are accused of being unreliable, of being volatilepromote fraud, not have a legal framework that supports its users, allow the operation of illegal activities, among others.
Although it could be a paradox, at the same time cryptocurrencies guarantee security to their miners regarding the network in which it is located (network) and which implies code management; Hacking this security is possible but not so easy to achieve since whoever tried it would have to have a computational power greater than even that of Google itself.
Whoever invests in this type of digital currencies must be very clear that this form brings with it a high risk to capitalWell, just as there can be an increase, it can also unexpectedly crash and wipe out the savings of its users.
To store them, users must have a digital purse or wallet, which is actually a software through which it is possible to save, send and transact cryptocurrencies. In reality, this type of wallet only stores the keys that mark a person’s ownership and right to a certain cryptocurrency, so these codes are the ones that should actually be protected.
