Tether, the cryptocurrency of the stablecoin type that affirms that each of its tokens is backed by one US dollar, it is issued by the company Tether Limited and since its origins it has been involved in various controversies.
Tether it was the first stablecoin to exist. It was launched in 2014 by businessman Reeve Collins; bitcoin investor Brock Pierce; and the developer, Craig Stellers. Since then it has become the most important by market capitalization.
Originally tether was available through the Omni Layer, but now they can be accessed in various blockchain. With the approval of Tether Limitedyou can switch between USD and Tether, a mechanism that helps keep the stablecoin anchored.
The Tether Limited network is in turn controlled by the owners of the Bitfinex cryptocurrency exchange, which was accused by the New York Attorney’s Office of using Tether funds to cover 850 million in missing funds since mid-2018.
Investors and regulators of cryptocurrencies have also joined the debate by pointing out that the stablecoin is not fully guaranteed, a situation that has taken it to court because its users have no guarantee that their tokens can be exchanged for dollars. On April 30, 2019, the company’s lawyer confirmed that the token was tied to a change of $0.74.
The price of the Tether cryptocurrency for this day is $1,0002234. This means that the digital currency had a change of 0.01% in the last 24 hours, as well as a movement of 0.0% in the last hour.
Digital currencies are digital currencies that do not physically exist and, unlike currencies such as the dollar, the euro or the peso, they are not regulated by any institution and do not require intermediaries in the transactions.
Consequently, they are regularly not viewed favorably by the formal market and are accused of being unreliable, volatile, promoting fraud, not having a legal framework that supports their users, allowing the operation of illegal activities, among others.
However, little by little they have opened the way to such a degree that companies, millionaires and even governments have encouraged or authorized their use.
These cryptocurrencies work through a cryptographic encryption that guarantees the security of transactions, as well as control the creation of their units. To make transactions, virtual currencies use a decentralized database, blockchain, or shared ledger.
Currently there are different cryptocurrencies in this unregulated market, however, the pioneer was Bitcoin, created in 2008, with it others emerged such as litecoin, ethereum, bitcoin cash, ripple, dogecoinsome of the most popular.
One of the richest men in the world, Elon Muskhas made comments in favor of cryptocurrencies such as bitcoin and dogecoin, even temporarily accepting the digital currencies at his electric car company Tesla, which has caused their cost to rise.
To buy any of the cryptocurrencies that are in this unregulated market, you have to go to specialized pages.
It is worth mentioning that the price of each of these digital currencies depends on supply and demand, as well as the commitment of the users themselves, which can cause abrupt changes.
This means that the more people are interested and want to get hold of any cryptocurrency, the higher its value and vice versa.
However, whoever invests in this type of digital currency must be very clear that this form brings with it a high risk to capitaljust as there can be an increase, it can also unexpectedly have a crash and wipe out the savings of its users.
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