The rise and fall of tether: what is its value today

Tether, the cryptocurrency of the stablecoin type which claims that each of its tokens is backed by a US dollar, it is issued by the company Tether Limited and since its origins it has been involved in various controversies.

Attached it was the first stablecoin to exist. It was launched in 2014 by businessman Reeve Collins; bitcoin investor Brock Pierce; and developer, Craig Stellers. Since then, it has become the largest by market capitalization.

Tether was originally available through Omni Layer, but now it can be accessed in various block chains. With the approval of Limited tetheryou can switch between USD and Tether, a mechanism that helps keep the stablecoin pegged.

The Tether Limited network is in turn controlled by the owners of the Bitfinex cryptocurrency exchange, which has been accused by the New York Attorney’s Office to use Tether funds to cover 850 million missing funds since mid-2018.

Cryptocurrency investors and regulators also joined the debate pointing out that the stablecoin is not fully guaranteed, a situation that has brought it to court because its users have no guarantee that their tokens can be exchanged for dollars. On April 30, 2019, the company’s lawyer confirmed that the token was linked to a change of $0.74.

Tether cryptocurrency price for today is $1,000215. This means that the digital asset had a change of -0.02% in the last 24 hours, as well as a movement of 0.0% in the last hour.

Digital currencies are digital currencies that do not physically exist and, unlike currencies such as the dollar, euro or peso, they are not regulated by any institution and do not require intermediaries in transactions.

For this reason, they are regularly not viewed favorably by the formal market and are accused of being unreliable, volatile, promoting fraud, not having a legal framework that supports their users, allowing the operation of illegal activities, among others.

However, little by little, they paved the way to such an extent that companies, millionaires and even states encouraged or authorized their use.

These cryptocurrencies work through cryptographic encryption that guarantees the security of transactions, as well as controlling the creation of their units. To make transactions, virtual currencies use a decentralized database, blockchain or shared ledger.

Currently, there are different cryptocurrencies in this unregulated market, however, the pioneer was Bitcoin, created in 2008, with it others emerged like litecoin, ethereum, bitcoin cash, ripple, dogecoinsome of the most popular.

One of the richest men in the world, Elon Muskmade comments in favor of cryptocurrencies such as bitcoin and dogecoin, even temporarily accepting digital currencies from his electric car company Tesla, which triggered an increase in their cost.

To buy any of the cryptocurrencies that are on this unregulated market, you need to go to specialized portals.

It should be mentioned that the price of each cryptocurrency varies according to supply and demand, as well as the engagement of the users themselves, which can cause abrupt changes.

This means that the more people are interested and want to get a cryptocurrency, the higher its value and vice versa.

However, anyone investing in this type of digital currency should be very clear that this form brings with it a high capital riskjust as there can be a surge, you can also crash unexpectedly and wipe out your users’ savings.