We’re talking USDT also known as Tether. If you’re a cryptonewbie, you’re probably rolling your eyes and wondering why there has to be a million crypto currencies out there. But don’t worry we’re going to give you a short introduction about USDT and what the buzz is all about.
What is USDT/Tether?
Tether is a stable coin whose value is pegged to the US dollar. Which means that for each unit of Tether, there is one dollar in the Federal Reserve Bank. This makes it the best option for investors who want to use cryptocurrencies for transactions without the risk of volatility that other coins like Bitcoin have.
Tether was launched in 2014 and it is the third-largest cryptocurrency on the basis of its market cap, which is US$62 Billion.
Still following?
“Stable” is the name of the game
Tether is considered as the ruling monarch in the market of stable coins. “Why the market of stable coins?” you may ask. Well because the value of USDT is “tethered’’ to a traditional currency: the US dollar, many people are investing in USDT.
The crypto market is far more unstable compared to traditional stocks, with some coins rapidly growing in value only to drop just as quickly. Bitcoin, for instance, rose from $45,000 in March to a high of $63,000 in mid-April — then plunged to $35,000 in May before ticking up to $36,000 in June. Indisputably, the top cryptocurrency is Bitcoin as it has been for years since the early days of Cryptocurrency.
Tether’s performance history in one sentence? One Tether token = one USD. Always has, always will and that’s on period.
And there you have it! The USDT crash course you needed. Yes, you’re welcome and we’ll do you one better
Do Better for your Naira
You can buy and sell USDT on the RapidPay app. Buying USDT keeps your Naira secure from inflation and the loss in currency value.
Your money can now stay as valuable as the dollar with RapidPay.
By now, you should be wondering what it takes to get started?
Simply, download the mobile app from Google PlayStore — iOS is in the works :) — or visit www.rapidpay.africa to learn more.
If you have any feedback or questions about how it works, email us at rapidpayafrica@gmail.com. You can start with RapidPay here: www.rapidpay.africa
