Tether (USDT) is one of the cryptocurrencies that dominates the market. It was the first stablecoin to be created and is one of the main ones in circulation. Its value is tied to the US dollar, meaning that 1 USDT will always be worth $1, and is considered a kind of “digital dollar”. In this way, a USDT casino offers investors additional flexibility as it serves as a substitute for the dollar at many brokerages.
Tether is another blockchain asset, so converting from bitcoin, or another cryptocurrency, to Tether is as easy as converting from bitcoin to ethereum. This conversion introduces a quick and efficient way for investors to avoid volatility and stay in the crypto markets. Similarly, this feature is beneficial for those playing USDT games at crypto casinos.
Market volatility is a huge concern in the cryptocurrency market. When the market starts to fall investors only have a few options to consider. They can sell their assets and convert them back to FIAT – a time consuming process that has sometimes high conversion fees; Or they can simply take the losses. Tether adds a third option: convert to Tether and thus avoid fees and volatility.
Another major advantage of using Tether as a means of payment is its accounting. Since bitcoin’s inception there has always been some doubt regarding its use as a means of payment. Businesses paying for goods or services with cryptocurrencies often have to calculate the value of the payment in US dollars. Stablecoins eliminate this problem as they have the same value as their FIAT counterpart.
Finally, Tether makes it easy to transfer “real” money to digital money. This task is tricky in some regions of the world, as in some places it is a complicated task to convert crypto currency to FIAT currency (in some countries this practice is illegal). For all these regions Tether is a smart alternative.
In conclusion, Tether is extremely useful for quick conversions between FIAT and crypto at brokerages; and because it is a currency with a stable value it is useful for preventing short-term losses due to the volatility of cryptocurrency markets. However, it is dependent on the value of the FIAT currency remaining stable, which in the long run can lead to losses.
