What is Tether (USDT)?

Tether (USDT) is the third largest cryptocurrency (after Bitcoin and Ether) and the largest stablecoin by market capitalization. Tether is a USD-pegged stablecoin, meaning that 1 Tether can be exchanged to USD at an approximate 1:1 ratio.

The coin was created in 2014 with the original name of "RealCoin", but was rebranded to Tether later that year. The organization behind USDT is iFinex, a company incorporated in HongKong that owns the BitFinex exchange. In the beginning, Tether was launched on the Bitcoin blockchain and could only be traded on that network, but after years of development and expansion, it is now available on commonly-used blockchains.

Since the birth of Tether USD or USDT, there have been more Tether stablecoins created for gold, Euro, Mexican Peso, British Pound Sterling, and offshore Chinese Yuan.

How Tether (USDT) Works

USDT is pegged at a 1:1 ratio with USD. So that users can actually exchange from USDT to USD seamlessly anytime, the company Tether maintains a dollar in cash and assets in reserves for each USDT issued, as well as regulates the supply of USDT through minting and burning.

Even though USDT is the biggest stablecoin in the world and has a clear working mechanism in theory, the transparency and the actual value of its reserves has been a topic of dispute for some time.

How Many Tether (USDT) Tokens Are in Circulation?

USDT does not have a maximum total supply because the amount of USDT issued is dependent on the total value of assets in the Tether's reserve. The current amount of USDT in circulation is 67.95 billion.

How to Buy Tether (USDT)

Consider investing in Tether (USDT)? It only takes 2 minutes to create an account on Bitget and start trading USDT. 

Check out the available USDT trading pairs on Bitget!

Futures market

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Tether (USDT) Resources

Official Website

Official Documents