What is Tether and How Is It Connected with Euro?

The market of digital assets offers hundreds of cryptocurrencies with different applications and purposes – coins, tokens, DeFi tokens, NFTs, etc. There are also assets backed by real currencies – stablecoins. From the name, it becomes clear that stablecoins are crypto assets that are not subject to market fluctuations. Indeed, they are supported by real-life currencies such as the euro, dollar, etc., which ensures their stable price despite the crypto market trend.

Stablecoins are used for:

  • hedging trading risks caused by market volatility;
  • transferring cryptocurrencies;
  • fast conversion from the dollar and euro to crypto;
  • payments for services and goods.

One of the most common stablecoins is Tether crypto. USDT EUR rate is 1.0046, and the price is always around one euro. Tether’s market capitalisation is over $70 billion, and daily trade volume reaches $32 billion. Tether crypto is the most used stablecoin in the market.

Why Buy Tether?

When sharp market changes happen, many investors try to save their holdings and hedge risks, they convert their coins to stablecoins. In such a way, they maintain the value of their investments in dollars, which is more reliable than the crypto market. Also, Tether crypto is used for settlements for goods and services.

Stablecoins are not used in trading because their prices are not subject to market volatility. They serve to hedge risks in trading.

Again, there is no sense in making the Tether price prediction because the USDT EUR rate is always around one euro and cannot rise or drop significantly.

You can buy Tether on the WhiteBIT crypto exchange. It is a reliable platform that offers over 400 crypto pairs for trading and a variety of different tools for making a profit in this market. WhiteBIT charges low trading fees and ensures a high level of security for users’ funds. On a WhiteBIT Blog, you can find more valuable information on Tether crypto and how it is applied in trading.

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