Buy and SellUSDT

What is Tether?

Tether (USDT) is a blockchain-based cryptocurrency whose tokens in circulation are backed by an equivalent amount of U.S. dollars, making it a stablecoin with a price pegged to USD $1.00.

Stablecoins track fiat currencies like the euro, the dollar, or the Japanese yen, which are kept in a designated bank account.

Since Tether is owned by a private company, its issuance can be theoretically limited by the policies of the Tether Foundation even though there are no encrypted restrictions on its total supply.

According to the Tether Foundation, each USDT must be backed by a US dollar, so the amount of tokens is dependent on the company's actual cash reserve.

Brock Pierce, Reeve Collins, and Craig Sellars founded USDT - or Realcoin at the time - in 2014. Brock Pierce is an entrepreneur with experience of launching a number of high-profile crypto and entertainment projects.

He co-founded Blockchain Capital, a venture capital firm that raised over $80 million by 2017. In 2014, Pierce became director of the Bitcoin Foundation, a nonprofit that helps improve and promote the cryptocurrency.

Pierre is also the co-founder of Block.one, the company behind EOS, one of the largest cryptocurrencies on the market.

A native token of the Tether network, USDT tokens are developed by BitFinex and trade under the USDT symbol. USDT became the fifth-largest cryptocurrency by market capitalization in October 2021, worth more than $68 billion.

As a stablecoin, Tether aims to keep cryptocurrency valuations stable, rather than the wide swings observed in the prices of other popular cryptocurrencies like Bitcoin and Ethereum.

Instead of being used as a means of speculative investment, it could be used as a medium of exchange and a storage of value.

Users benefit from Tether's stability, transparency, and minimal transaction costs since it bridges the gap between fiat currencies and cryptocurrencies. In terms of value, it is pegged to the U.S. dollar and maintains a 1:1 ratio with it.

The majority of bitcoin traded into fiat or stablecoin still involves bitcoin to Tether, according to a study by CryptoCompare, an international data provider in the cryptocurrency space. 57% of bitcoin trades in February 2021 were conducted in USDT. Tether is still a major source of cryptocurrency liquidity.

What Is Tether Used for?

Tether guarantees USDT's value remains pegged to the U.S. dollar, which makes USDT unique. Tether states that whenever new USDT tokens are issued, it allocates the same amount of USD to its reserves, ensuring that USDT is fully backed by cash and cash equivalents.

USDT is regarded as a safe haven for crypto investors because it allows them to park their portfolios during periods of high volatility without having to withdraw them in USD.

The USDT platform also allows for the exchange of U.S. currency equivalents across regions, countries, and continental boundaries - without relying on a bank or other financial services provider, which are slow and expensive.

What is a cryptocurrency exchange, and how do I buy Tether?

With an exchange, traders can buy and sell Tether using fiat currencies or cryptocurrencies. A cryptocurrency exchange is an online platform that acts as a middleman between buyers and sellers of cryptocurrencies.

On the Bit.ir exchange, you can buy and sell Tether. In order to buy or sell on the Bit.ir platform, you need to register, verify your identity, and deposit money into your account.

• You can buy Tether on Toman Market by depositing IR Rials
• On Toman Market, the minimum purchase amount for USDT is 100,000 Tomans.
• It costs 1 USDT to withdraw money, and the minimum amount you can withdraw is 10 USDT.

Select the Tether/Rial pair on Toman Market to convert Tether to IR Rials. Enter the desired amount and price. As soon as your chosen price is reached, your order will be filled and deposited in your wallet as its equivalent in IR Rials.

Why trust Bit.ir?

With Bit.ir, a pioneer in blockchain science, users can store and trade cryptocurrencies in a secure environment, giving them the ability to buy and sell at the lowest price possible. Orders can also be placed using the Bit.ir application.