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**What is USDT**
USDT, also known as Tether USD, is a token launched by Tether Limited, backed by the stable value of the United States Dollar (USD). The value of 1 USDT is pegged to 1 USD, allowing users to exchange USDT and USD at a 1:1 ratio. Tether Limited strictly adheres to a 1:1 reserve guarantee, ensuring that for every issued USDT token, there is a corresponding $1 in reserve in their bank account. Users can verify fund details transparently on the Tether platform. To obtain USDT, users can wire USD via SWIFT to Tether Limited's provided bank accounts or acquire USDT through exchanges. When redeeming for USD, the process is reversed.
**Features**
- **Direct Equivalence:** USDT is equivalent to USD, where 1 USDT equals 1 USD. The value of other currencies in terms of USDT is equivalent to their price in USD.
- **Stability:** Since Tether is backed by fiat currency, users can trade in the blockchain asset market without being significantly affected by the price fluctuations of most blockchain assets.
- **Transparency:** Tether Limited claims regular audits of its fiat reserves to ensure that each circulating USDT has a corresponding USD support. The status of reserve accounts is publicly accessible and can be checked at any time. Additionally, all Tether transactions are publicly recorded on the blockchain.
- **Low Transaction Fees:** No transaction fees are charged for transfers between Tether accounts or wallets containing Tether. However, fees are applicable when converting Tether to fiat currency. |
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Post time 23-1-2024 12:40:24