Crypto Academy Week 6 Homework Post for @yohan2on by @swetatiwari

Hii friends , My self Sweta tiwari.....

Today I am sharing Stable Coin for the Homework Task of @yohan2on...

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What is Stable Coin?

In actual , Stable Coin are crypto currency like BTC, ETH but their price remains fixed . It is neither UP nor DOWN. Its value dose not fluctute just like other crypto currency.

A stablecoin is pegged to a Fiat dollar, meaning its unaffected by the price of bitcoin And the wild swings of the crypto markets the reason investors and traders use the other is liquidity, or the ability to get it and Out of crypto currency who is in without Hughes changes in price.

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Question 1 :What is Tether?

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Tether is cryptocurrency known as stable coin that are attached to Fiat currencies which means they are crypto that are backed by currencies like the dollar, euro and even yen.Tether having a tradable sign (USDT) is a blockchain-based cryptocurrency that is pegged or backed by traditional fiat currency such as dollars USD.Tether falls under the category of the fiat-Collateralized coin which means it is backed 1:1 with US dollars.

The ticker symbol of the tether is USDT. And it depends on the US Dollar. As its value same as US Dollar, if you have 4400 USDT then its value is equal to $4400. Generally , The value of the Tether mirrors the dollar . We can trade it , transfer between the exchanges easily.

Why was the need of Tether?

The main purpose of its founders behind creating this was that they wanted to make a stable coin that could be easily pegged in fiat currency. And traders should be able to trade easily. Because of this there is very less risk of your crypto currency's value being reduced.

Tether claims that all of its circulating token in the market is backed up by it reserve in real-time which includes traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties.

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Tether Price/Value

The price of Tether is always the same as 1 US Dollar. In the image above, you can see. The price of Tether is also shown in BTC and ETH.

Tether Price & Market Stats

You can see that its value is always almost equal in the image

Tether Chart

The image above shows a 24-hour chart of Tether. You can also check the chart of 7d, 14d, 30d, 1y. Also You can check the chart in BTC / ETH . This chart shows the Market conditions of Tether.

Tether market

this pictures is showing the market of Tether

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Demerit

Tether has been in the market since 2014 and since then the stable coin has faced several lawsuits from different bodies there is still controversial deliberation if the coin is backed or supported by U.S. dollars also there has been much security breach that has led to the loss of tether from some popular exchange in late 2018

Merits

Tether as compared to other stablecoins cryptos has a very low fee to them. It means it charges no fees for transactions of tether once it is in the Tether wallet.

the tether coins is that they use bitcoin blockchain network which is already tested and secured rather than using a newly developed platform.

Conclusion

The tether USDT can help to provide a hedge against the volatility of the cryptocurrency market.

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@yohan2on
@steemcurator01
@steemcurator02

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THANKS