What is USDT Tether?

USDT (Tether) is a US dollar stablecoin, also known as Tether in Chinese. The cryptocurrency in circulation is backed by an equal amount of U.S. dollar reserves, which are held in designated bank accounts. Therefore, it is called a stablecoin, which aims to address the volatility of cryptocurrencies instead of being prone to price fluctuations like other mainstream cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). This would allow it to be used as a medium of exchange and a store of value, rather than a speculative investment.

Stablecoins also have many different design methods to maintain their stability, and Tether belongs to the category of stablecoins collateralized by legal currency. If 1 USDT is issued, Tether guarantees that 1 US dollar will be added to the reserve, so that USDT is pegged to the US dollar and maintains a 1:1 value with the US dollar. Specifically designed to create the necessary bridge between fiat currencies and cryptocurrencies and provide price stability and transparency to users. According to CryptoCompare data, 80% of Bitcoin transactions are completed in USDT, and stablecoins are the main source of liquidity in the cryptocurrency market. Tether can be traded on many cryptocurrency exchanges, including Binance, Huobi, Bitfinex, and Kraken.

※In the cryptocurrency circle, many people refer to USDT as U! Next time you see someone say U you will know what it is!

Is USDT a scam?

USDT (Tether) itself is not a scam, but because it is pegged to the US dollar and is often used in transactions, many unscrupulous people will use USDT to commit fraud, especially those who are not familiar with cryptocurrencies and are easily deceived. Here are some common examples of scams:

• Fake USDT, fake exchanges, fake mobile apps
• Counterfeit investment and trading guidance
• Fake stable profit methods: such as staking, locking positions, etc.
• Airdropping fake USDT and using various links to transmit viruses and steal information
• Dating App Scams
• Love scam

OTC third-party scams when buying USDT

From the above examples, we can see that the scams used by fraud groups are quite similar, even if they replace USDT with other things. When you come into contact with relevant information, you must be vigilant and take not handing over your own assets as the highest principle of action, and don’t be “greedy” to ensure the safety of our assets!

How to buy USDT Tether?

Generally speaking, there are two ways to buy USDT:

• Through cryptocurrency exchanges, such as Binance, MAX, etc.
• OTC: B2C, C2C/P2P

There will be different purchasing methods depending on the platform. Before using it, you must check the rules, purchasing methods and platform security before making a purchase!

USDT Tether address and network form: ERC, TRC?

Due to the large number of users, USDT will also be issued on various mainnets, resulting in many different network forms of USDT, such as Ethereum’s Erc20 USDT, Tron’s Trc20 USDT… and so on. When trading, you should also pay more attention to the type of mainnet.

USDT Tether Risks

Although the price of USDT is anchored to the US dollar, it must be clearly understood that it is not the US dollar and it still has certain risks. If Tether is unable to provide customers with a 1:1 exchange for US dollars due to certain factors (such as insufficient reserves, etc.), or if it encounters operational difficulties due to regulatory issues, these are possible risks of holding USDT.

Is USDT Collapsed?

Although USDT has experienced many ups and downs and there are constant rumors that USDT will collapse, there is no definite evidence so far that USDT is about to collapse. Assuming that USDT collapses, it will be the next major catastrophe in the cryptocurrency world. Of course, the cryptocurrency world is not so big that it cannot fail, and holders are advised to always pay attention to related topics.

USDT Tether Evaluation PTT DCARD What do netizens think

The author has also collected some comments from netizens on USDT. Most of them believe that USDT can be used at present, but risks must still be paid attention to.

PTT User Reviews

• There are risks but not as much as UST
• USDT is much less risky than BSUD
• Asset opacity
• There is a one-to-one guarantee, so don’t worry too much
• Unsafe but safe

DCARD User Reviews

• Although USDT has a certain degree of risk in its asset reserves, the risk is not uncontrollable.
• People are afraid of greed. Otherwise, U coins are quite convenient.
• If you don’t believe in USDT, then you don’t need to be in the cryptocurrency world.