Invest in Tether – one of the best cryptocurrencies of 2021.
Cryptocurrency is booming, a fact we are breathing daily. If you wish to invest in cryptocurrency, there are different options to invest in this year. While Bitcoin, Ethereum, Dogecoin are the most popular ones, other cryptocurrencies like Tether are secretly growing. Why should one invest in Tether in 2021?
Tether has quickly become one of the well-known cryptocurrencies, especially since 2020. Nonetheless, Tether has been part of controversies as well because it was one of the first few cryptocurrencies that pegged its value directly to a fiat currency. Let’s know more about it and why one should invest in Tether, right now!
What is Tether?
Theoretically, Tether is a peer-to-peer blockchain and open-source cryptocurrency. However, it is a stable coin whose value is pegged to the US dollar. In simple terms, a U.S Tether token is $1 all time. But, if we look back to 2019, the developers revealed that it is not supported by fiat currency 100%, and it was closer to $0.75. So, a Tether coin is created whenever a USD is invested.
Why Invest in Tether?
We all know that the market of crypto is highly volatile. You can lose money in a matter of seconds as prices keep on fluctuating. However, Tether is such a coin that can stand strong against price fluctuations.
Tether is a result of the combined power of science and academia. Hence, if you observe, Tether is not majorly affected by market fluctuations.
Further, this stable coin is also very helpful for transactions that often face difficulty when exchanging money into USD. Legal issues with banks are one such difficulty, which usually other cryptocurrencies face a lot.
Now you might be able to connect the dots as to why banks are reluctant to operate with cryptocurrency exchanges as it becomes quite tedious to convert and deposit funds. Hence, Tether is an amazing coin that can reduce such risks and speed up the process of transactions.
What’s more, you also get to avoid heavy transaction fees. For example, whenever you convert a cryptocurrency to a currency, you will be charged a certain sum of fee. But with Tether, you don’t have to worry about fees and conversion as it is tied to the US dollar.
Unlike other cryptocurrencies, Tether has very few risky elements. Hence, it is considered a stable and safe cryptocurrency to buy. If you see it from a different angle, Tether is something that you can buy and hold cash or any other foreign currency. For example, if there is a prediction of large market fluctuations for the Euro or the U.S. dollar, Tether can be a very fruitful investment.
Also, did you know Tether can be used to keep your cryptocurrency shielded in times of high volatility? For instance, if you have Bitcoins but the market goes into sudden volatility, you can swap your Bitcoin for Tether to protect it temporarily and store its value.
Future Prospects
Based on certain studies and predictions, experts believe that Tether is a beneficial investment. They further predict that the growing popularity of Tether can help investors in gaining good returns in the coming 3-5 years, hence, a profitable long-term investment.
According to CoinMarketCap, Tether ranks 3rd in terms of market cap, which is currently valued at $62,631,619,572. The current price of Tether is $1.00. Now is the best time to buy Tether and invest in it for a long time as it is one of the best cryptocurrencies of 2021. Read this guide to start investing in cryptocurrency.
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