What Is Tether (USDT)?

Tether (USDT) is a popular stablecoin that crypto enthusiasts have used for years to leverage their cryptocurrency trades.

USDT is pegged to the U.S. dollar, and in theory it should be unaffected by the market volatility that can so dramatically impact the valuation of other cryptocurrencies, such as Bitcoin.

Tether Is a Stablecoin

Tether aims to provide a safe digital asset that maintains a stable valuation. That's what makes USDC a stablecoin, whose value is pegged to the price of the U.S. dollar. The goal is that Tether should always maintain the same value as its peg.

The idea is that 1 Tether can always be traded for $1, regardless of market conditions, says Steve Bumbera, chief operating officer of Many Worlds Token.

Tether's stablecoin competitors include USD Coin (USDC), Dai (DAI) and Pax Dollar (USDP), to name a few.

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