USD Tether or USDT, is included in the Stablecoin crypto asset type, which maintains the stability of crypto asset valuations, and has a value equal to 1 US Dollar per token. Each USDT token, held in the reserve balance of Tether Limited, can be obtained through the Tether platform, or through an exchange such as Indodax. USDT is useful for “maintaining the value of funds” for users, including facilitating cross-border fund transfers, with lower shipping costs than bank services or remittance companies.
First, USDT is created on the Bitcoin blockchain network, via the Omni Layer Protocol to ensure the tokens issued are secure. Currently, apart from using the Bitcoin blockchain, USDT also uses the EOS, TRON and Ethereum blockchains.
In the Tether Reserves Confirmation System, the circulating USDT volume can be easily viewed on the Bitcoin blockchain, using the tools provided by Omniexplorer.info. This amount corresponds to the total amount of US dollars owned by the issuing company.
This crypto asset was founded by Jan Ludovicus Van der Velde, who is also the CEO of Bitfinex and Tether Limited. Initially, USDT was launched as RealCoin in July 2014 and its name was changed to Tether in November by Tether Ltd. According to CryptoCompare data, 80% of all bitcoin trading is done on Tether, and stablecoins are the main source of liquidity for the crypto asset market!
Until this video was made there were already around 8 billion USDT circulating in the world. USDT cannot be obtained through mining, however, Indodax is here to be a place for traders who want to have USDT easily and quickly. Want to own USDT? Come on, buy it now on Indodax, and don’t forget to subscribe to our YouTube channel.