Hey steemians,
In this post I am presenting 6 homework of the week given by professor @ yohan2on
Write about any one of the following stable coins;
•Tether(USDT)
•Steem backed dollar(SBD)
•DAI
%20(4).jpeg)
Stable coin
A "stable" coin is a digital asset or cryptocurrency tied to fiat currency or other financial assets.
Fixed coins are a type of coin that is actually crypto currency. But their value remains fixed, that is, it does not fluctuate. The great advantage of stationary coins is that they work in quick time. We have to pay a certain amount for this, this coin also reduces our risk.
Originally created to overcome the instability of cryptocurrency, stable coins have become very useful now.
In this post, I will write about Teether (USDT) which is a famous static coin.
%20(6).jpeg)
What is Tether?
Tether is the world's most stable coin. The tether is one of the most common stable coins, a fixed value for the fiat monetary system.
The value of tether is always the same with US dollar. That means 1 Tether = 1 US DollarThis coin was registered in the British Virgin Islands. The coin was operated by the registered company Tedder Limited. There is no office address on its plans. There is only one indication that this company is from Hong Kong.
If you want to use crypto currency as exchange. So this is a major issue or challenge because the cyrpto currency is an impermanent nature which changes from time to time.This is the same challenge that applies in using crypto currency as a repository of value. While this issue is addressed in the use of stable coins like Tether (USDT)
Who created it and why ?
In 2014, Tether was founded by Brocks Pierce by Reeve Collins Craig Sellers, released by Tether Limited. The main purpose of making it was that the traders were able to do the trade . Because of this, the risk of working crypto currency is very low.
Many exchanges use Tether Coin to trade other Crypto Currency such as BTC, XRP, etc. There are many pairs such as ETH / USDT, BTC / USDT, XRP / USDT, LTC / USDT etc.
Tether price &value
Date:-16-03-2021Scr
In this picture, the price and value of Tether(USDT) is show
Tether chart
Date:-16-03-2021Scr
Tether price and market stats
Date:-16-03-2021Scr
Advantage of tether
The Tether coin is a very good coin, it has many benefits, there is very little risk. The currency of this coin can be exchanged from P2P to USDT to INR currency.
Thank You
Cc:-
@steemitblog
@steemcurator01
@steemcurator02
Hi @priya0
Thanks for attending the 6th -Crypto course and for your effort in doing the given homework task.
Feedback
You have done fairly well. You had to explain the Tether charts you included in your work. More effort was needed in your work.
Homework task
6.5
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi @yohan2on
Thank you professor
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit