Tether helps traders stay clear of crypto market’s extreme volatility

Tether helps traders stay clear of crypto market’s extreme volatility
Everyone can agree that blockchain technology is truly innovative. Never before has it been so easy, fast and cheap to send and receive funds. One cryptocurrency is making headlines as the world’s most widely used cryptocurrency. Tether is more widely used than even King Bitcoin and for good reason. Tether can help traders stay clear of the crypto market’s extreme volatility. Here’s how:

What is Tether?

Tether is not as popular as Bitcoin, Ethereum and Ripple for example. A lot of traders have never even heard of Tether. Reason may be that one can’t make exorbitant profits from Tether like in the case of other cryptocurrencies. However, Tether offers traders something that no other cryptocurrency can, namely stability. It goes without saying that Tether is known as a stablecoin. A stablecoin is a cryptocurrency that holds a specific price and fluctuates very little. Besides having a fixed price, Tether is measured by a fiat currency, the U.S. Dollar. This means that 1 Tether equates to 1 USD.

Show me the money

Tether is the preferred cryptocurrency if you want to spend rather than hodling. For the simple reason that you might not see huge gains but you are almost guaranteed that the funds you receive will not be subjected to market manipulation. Therefore, if you have $100 in Tether, you can rest assured that when you want to buy goods or services, you will have $100 to spend.

Tether is important for everyday transactions due to its stability. It is said that one of the main reasons why cryptocurrencies have not yet been widely adopted is due to fear of losing value because of volatility.

Did you know that Tether tops Bitcoin as the world’s most widely used cryptocurrency?

Tether’s monthly trading volume is almost 18% higher than Bitcoin’s trading volume. Also, in April this year, Tether’s volume surpassed Bitcoin’s volume to $21 billion per day.

Benefits of Tether

  • Having Tether gives you the advantages of open blockchain technology, associated security and transparency features. 40% of Tether is run on the Ethereum network which makes transaction time very fast.
  • Tether is always 100% backed by a traditional currency like U.S. Dollar that is kept in reserve.
  • Reserve holdings are published on a daily basis after being professionally audited.
  • Cheap transaction fees to enhance your currency arbitrage strategy.
However, it is important to note that Tether was subjected to scrutiny from the New York Attorney General recently. The Attorney General accused Bitfinex of using Tether funds in an attempt to cover missing funds of up to $850 million. Tether has also been accused of manipulating the price of Bitcoin. The news made Tether’s price decrease to $0.90 in October last year, but has since recovered to surpass Bitcoin’s trading volume. Clearly, the news did not phase the market.

AltCoinTrader is the only Tether exchange in South Africa

Now, this is important if you are a cryptocurrency trader or hodler in South Africa. AltCoinTrader is the only exchange in South Africa that lists Tether (USDT). This means that you can now buy USDT with ZAR as well as Bitcoin on AltCoinTrader. Check out the USDT chart.

Getting started on AltCoinTrader is easy. Simply register an account and you are well on your way. Click here to register and get started today!