What is Tether (USDT)

Tether is a blockchain-based network for transferring fiat-collateralized digital currencies. Tether tokens are established on several blockchains, including the Bitcoin and Ethereum blockchains. Because the cryptocurrency market is so volatile, certain types of transactions are prohibited. Tether was created in 2014 to make digital money transactions easier and more reliable. The USDT, EURT, and CNHT tokens of Tether are tethered to their respective fiat currencies, allowing traders to convert fiat currencies into cryptocurrency for safe, decentralized exchange while retaining value. Tether tokens are fiat-backed stablecoins. Tether's tokens are backed by fiat currency reserves. However, there has been some debate over its holdings.

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