Invest in Tether, one of the best cryptocurrencies of 2021.
Cryptocurrency is booming and we breathe this fact every day. If you are looking to invest in cryptocurrency, there are different investment options this year. While Bitcoin, Ethereum, Dogecoin are the most popular, other cryptocurrencies like Tether are secretly growing. Why invest in Tether in 2021?
Tether has quickly become one of the well-known cryptocurrencies, especially since 2020. However, Tether is also controversial because it is one of the first cryptocurrencies to be directly tied to fiat currencies. Let’s find out more about it and why it is worth investing in Tether right now!
What is Tether?
In theory, Tether is an open source peer-to-peer blockchain and cryptocurrency. However, it is a stablecoin that is pegged to the US dollar. Simply put, the US Tether token is always worth $ 1. But, if we look back at 2019, the developers figured out that it was not 100% supported by fiat currency, and it was closer to $ 0.75. So, a Tether coin is created whenever a US dollar is invested.
Why invest in Tether?
We all know that the cryptocurrency market is very volatile. You can lose money in seconds as prices continue to fluctuate. However, Tether is the kind of coin that can withstand price fluctuations.
Tether is the result of a combination of science and academia. Hence, if you notice, market fluctuations do not greatly affect Tether.
In addition, this stablecoin is also very useful for transactions that often have difficulty exchanging money for US dollars. Legal problems with banks is one such difficulty that other cryptocurrencies usually face.
Now you can understand why banks are reluctant to work with cryptocurrency exchanges, as converting and depositing funds becomes quite tedious. Hence, Tether is an amazing coin that can mitigate such risks and speed up the transaction process.
What’s more, you can also avoid high transaction fees. For example, whenever you convert a cryptocurrency to a currency, you will be charged a certain amount of commission. But with Tether, you don’t have to worry about fees and conversions as it is pegged to the USD.
Unlike other cryptocurrencies, Tether has very few risky elements. Hence, it is considered a stable and safe cryptocurrency to buy. If you look at it from a different angle, Tether is something you can buy and hold in cash or any other foreign currency. For example, if there is a forecast of large market fluctuations for the euro or the US dollar, Tether can be a very rewarding investment.
Also, did you know that Tether can be used to protect your cryptocurrency in times of high volatility? For example, if you own bitcoins but the market suddenly becomes unstable, you can exchange your bitcoin for Tether to temporarily protect it and preserve its value.
Based on certain research and predictions, experts consider Tether to be a profitable investment. They also predict that the growing popularity of Tether could help investors make good returns over the next 3-5 years, which means a lucrative long-term investment.
According to CoinMarketCap, Tether is ranked 3rd by market cap, currently valued at $ 62,631,619,572. Tether’s current price is $ 1. Now is the best time to buy and invest in Tether for a long time, as it is one of the best cryptocurrencies of 2021. Read this guide to get started investing in cryptocurrency.
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