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Tether is a cryptocurrency issued by Tether Limited. Born as a stablecoin, it was initially stated that each token was backed by a US dollar, however, several controversies have brought this point to the table.
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.
The cost of Tether cryptocurrency for today it is $1,0002583 per unit.
This means that the declared digital asset a change of 0.01% over the last dayas well as a variation of -0.0% in the last 60 minutes.
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.
Consequently, 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 exploitation of illegal activities, among others.
However, little by little, they paved the way to such an extent that companies, millionaires and even governments encouraged or authorized their use.
These cryptocurrencies work through cryptographic encryption that guarantees the security of transactions, as well as control over the creation of their currencies. To make transactions, cryptocurrencies use a decentralized database, blockchain or shared ledger.
Currently, there are several cryptocurrencies in this unregulated market, however, the pioneer was Bitcoin, created in 2008, along with it others such as 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 their rise in value.
To buy any of the cryptocurrencies that are on this unregulated market, you must go to specialized pages.
It should be mentioned that the value 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 obtain a certain cryptocurrency, the higher its cost and vice versa.
However, anyone investing in this type of digital asset should be very clear that this form brings with it a high risk to capitaljust as there can be a surge, you can also crash unexpectedly and wipe out your users’ savings.