Tether (CURRENCY:USDT) traded down 0% against the U.S. dollar during the 1-day period ending at 15:00 PM Eastern on September 28th. One Tether coin can currently be purchased for about $1.00 or 0.00002405 BTC on popular exchanges. Tether has a market capitalization of $68.55 billion and $67.82 billion worth of Tether was traded on exchanges in the last 24 hours. During the last seven days, Tether has traded 0% higher against the U.S. dollar.
Here is how similar cryptocurrencies have performed during the last 24 hours:
- XRP (XRP) traded down 2.6% against the dollar and now trades at $0.91 or 0.00002189 BTC.
- Polkadot (DOT) traded 4.4% lower against the dollar and now trades at $26.77 or 0.00064385 BTC.
- Internet Computer (ICP) traded down 5.1% against the dollar and now trades at $41.36 or 0.00099448 BTC.
- Filecoin (FIL) traded down 7.7% against the dollar and now trades at $56.00 or 0.00134671 BTC.
- eCash (XEC) traded 8.6% higher against the dollar and now trades at $0.0003 or 0.00000001 BTC.
- Bitcoin BEP2 (BTCB) traded down 3% against the dollar and now trades at $41,687.66 or 1.00245910 BTC.
- stETH (Lido) (STETH) traded down 4.4% against the dollar and now trades at $2,832.45 or 0.06811161 BTC.
- SHIBA INU (SHIB) traded 0.6% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- Kusama (KSM) traded 1.1% lower against the dollar and now trades at $318.68 or 0.00766316 BTC.
- Klaytn (KLAY) traded 1.2% lower against the dollar and now trades at $1.05 or 0.00002530 BTC.
According to CryptoCompare, “USDT is a cryptocurrency asset issued on the Bitcoin blockchain via the Omni Layer Protocol. Each USDT unit is backed by traditional currency and cash equivalents held in the reserves of the Tether Limited and can be redeemed for 1 USD through the Tether Platform. USDT can be transferred, stored, spent, just like bitcoins or any other cryptocurrency. USDT and other Tether currencies were created to facilitate the transfer of national currencies, to provide users with a stable alternative to Bitcoin and to provide an alternative for exchange and wallet audits which are currently unreliable. USDT provides an alternative to Proof of Solvency methods by introducing a Proof of Reserves Process according to its whitepaper. In the Tether Proof of Reserves system, the amount of USDT in circulations can be easily checked on the Bitcoin blockchain via the tools provided at Omnichest.info, while the corresponding total amount of USD held reserves is proved by publishing the bank balance and undergoing periodic audits by professionals (not publicly auditable yet). “
Buying and Selling Tether
It is usually not presently possible to buy alternative cryptocurrencies such as Tether directly using U.S. dollars. Investors seeking to trade Tether should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Tether using one of the exchanges listed above.
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