Yes, USDT is a type of virtual currency, called a stablecoin, which is pegged to the U.S. dollar and aims to maintain a stable value. The working principle of USDT is to mortgage the equivalent value of US dollars to users when purchasing, so that its value is maintained with the US dollar at approximately 1 USDT = 1 US dollar.
#Is USDT a virtual currency?
USDT (Tether) is a cryptocurrency and a type of stable currency. Stablecoins are cryptocurrencies that are pegged to a fiat currency, such as the U.S. dollar, and are designed to maintain a stable value.
How USDT works:
USDT is issued by a company called Tether Limited. When a user purchases USDT, Tether Limited will deposit the equivalent amount of U.S. dollars into its bank account as collateral for USDT. This pegs the value of USDT to the U.S. dollar, at approximately 1 USDT = 1 U.S. dollar.
Features of USDT:
Use of USDT:
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