Tether has always been $1.00. It is (supposedly) backed by USD, whereas there is a real (whatever that means) United States Dollar backing each and every tether token. On really red days, tether might go up to $1.005, an on really green days, it might be $0.997. It is always right about $1.
Yes it suppose to be stable and $1. It created that way and it introduced as a stable one. As in starting I thought this will be always one. But saw some changes (little but still).
Tether was always a great exchange coin. It was a really easy way to get "out" of crypto without getting out of crypto. If everything was going down against the dollar, you could exchange into tether and win some more bitcoin at the end of the fall (if you bought back in at the right time of course).
It saved my portfolio so many times. It prove to be life saver in some condition, specially market is not stable (market never stables but I mean in worse condition).
In the last year or so, there has been a lot of audits, or at the very least, threats of audits. There is a questionable amount of tether tokens where it is a bit hard to think that there are 2.4 billion american dollars in a bank backing up the tether coin.
I am not aware about any new issues. But the last year's audit issue and other problems like they don't have equivalent USD to backed tether is already resolved I think and they provide document that prove all the allegations wrong. In case any new issue raise then I don't know about it.
Thank you for sharing such a nice article.
No problem. I like and have used tether as well. I do think that it might be a "hot potato" that could cause some trouble down the line. Thank you for reading!
Let's what happnes in near future 🙂
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