What is USDT?
USDT is a stablecoin whose value is fixed by pegging them to the price of another asset. USDT is a token backed on a 1:1 ratio by money held in the bank accounts. To issue these cryptocurrency the companies need to place equivalent amount of FIAT currency such as USD in bank accounts. By pegging to real-word assets in this case US dollar, these coins avoid price volatility known in the cryptocurrency trading markets.
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Stablecoins are mostly used as a mechanism to hedge against the high volatility of cryptocurrency markets. Stablecoins provide many more advantages when compared to traditional fiat currencies, they present faster transactions with lower fees – making them a better alternative for everyday payments.