Cryptocurrency Q&A
What is USDT backed by?
What is USDT backed by?
Valentina
Wed Mar 27 2024
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7 answers
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Could you possibly elaborate on the collateral backing USDT? I've heard it's a stablecoin, but I'm not entirely clear on what exactly it's backed by. Is it fiat currency, gold, or some other asset? And how does this backing mechanism work to maintain the stability of its value? I'm quite interested in understanding the intricacies of this cryptocurrency and how it fits into the overall financial landscape.
7 answers
CryptoWizardry
Fri Mar 29 2024
USDT is a type of cryptocurrency that is designed to maintain a stable value.
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CryptoWanderer
Thu Mar 28 2024
It is pegged to the United States Dollar, meaning its value is intended to remain close to $1.
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KDramaLegendary
Thu Mar 28 2024
The maintenance of a $1 price for USDT is expected, regardless of market conditions or supply-demand dynamics.
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Caterina
Thu Mar 28 2024
BTCC is a UK-based cryptocurrency exchange that offers services such as trading, wallet storage, and more.
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KimonoElegant
Thu Mar 28 2024
USDT is issued and backed by a centralized entity known as Tether.
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