Tether is a stablecoin designed to maintain a stable value by pegging its worth to the US dollar at a 1:1 ratio. As a less volatile digital currency, Tether aims to combine the benefits of cryptocurrency—such as fast transactions and blockchain security—with the stability and trusted value of traditional currencies.
Tether operates on a blockchain-enabled platform and uses a multi-layered architecture for stability and transparency. It primarily interacts with blockchains like Bitcoin through the Omni Layer Protocol, which manages the creation and destruction of Tether tokens. This setup ensures that every Tether token (USDT) is backed by an equivalent amount of fiat currency in reserve, verified through a Proof of Reserves mechanism.
Tether's use cases include:
Tether was founded in 2014 and initially named Realcoin. It was created by Brock Pierce, Reeve Collins, and Craig Sellars, with tokens first issued on the Bitcoin blockchain. Over time, Tether expanded its token issuance to multiple blockchains and grew significantly in the market. By the end of 2021, Tether became the largest stablecoin with a vast market share. Major developments include the introduction of new stablecoins pegged to currencies like the euro and UAE dirham, and the launch of Hadron, a tokenization platform.
The Tether price is $1.6214 AUD, representing a -0.03% from the day prior.
The best place to buy Tether (USDT) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Tether (USDT) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
The trading volume of Tether (USDT) is $78.2B AUD in the last 24hrs, representing a -0.03% from the day prior.
Tether (USDT) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
The current market cap of Tether (USDT) is $223.1B AUD.
Yes - With Coinstash you can convert your Tether (USDT) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
The current circulating supply of Tether (USDT) is 139.0B.
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Tether (USDT) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.