What is the Tether cryptocurrency and is it possible to make money on it?
We are already accustomed to the fact that most people perceive cryptocurrencies only as a source of investment or as an asset for making quick money.
But this is only one of the opportunities that digital money provides; in fact, this type of currency was created for other purposes.
The main goal of Bitcoin was to be complete anonymity, which would keep the owner of the tokens incognito.
That is, it was assumed that this type of payment would be used to pay for goods and services if the counterparty wants to hide his identity.
This approach allows you to hide income and not pay taxes, because in many countries tax authorities control not only income, but also expenses.
A typical situation is when Bitcoin loses more than 10% in price in just a few days. That is, during a downward trend, you instantly lose 10% of your money. As a result, you either have to wait for the price to rise, or use cryptocurrencies in calculations only when their prices rise.
To eliminate this drawback of cryptocurrencies, Tether was created.
Tether – entered circulation in 2015, the token was issued by the company of the same name Tether Limited. Its main feature, according to the developers, should have been a stable exchange rate, which would make it more comfortable to use Tether in calculations.
For these purposes, the value of the token is tied to the exchange rate of the US dollar, and funds in the amount of 20% of the value of the tokens in circulation are concentrated in the company’s accounts.
In general, these expectations were justified and during its existence, the Tether cryptocurrency has neither fallen in price nor risen in price by more than a couple of percent against the US dollar. Today its exchange rate is actually 1 dollar:
The cryptocurrency is in fourth place in terms of capitalization, which is now about 20 billion US dollars.
Earnings on Tether cryptocurrency
The stable exchange rate of the token in our case is not an advantage, but rather a disadvantage. Tether is convenient to use in calculations, but not so convenient to make money on it.
Low volatility does not allow you to get tens of percent profit within a few days.
Yes, and here you can play on fluctuations, but price movements will bring incomparably less profit than on other cryptocurrencies. But this is fair, because you can choose other cryptocurrencies for trading , and use Tether for the purposes for which it was created - anonymous payments via the Internet.