Could someone explain with the Tether Coin / Dollar is?

[squatz1]

I've seen it on many sites and even referenced here in a couple of posts but have no clue what it is in the least and it's price points seems to stick around the $1.00 to .9999 mark which would seem to say that it's tethered to the $1 mark in USD but I have no clue how it's used at all.

Enlighten me and thank you all

[1714600045]

1714600045

[RocketSingh]

Please check https://tether.to

[sp_skeptic]

Please check https://tether.to/legal.  If that doesn't scare you off Tether I don't know what would.

[udecker]

I've seen it on many sites and even referenced here in a couple of posts but have no clue what it is in the least and it's price points seems to stick around the $1.00 to .9999 mark which would seem to say that it's tethered to the $1 mark in USD but I have no clue how it's used at all.

Enlighten me and thank you all

Hey squatz1,

You can check out the Tether white paper at https://tether.to/wp-content/uploads/2015/04/Tether-White-Paper.pdf

It explains the method by which the USD₮ tokens are pegged to the 1:1 fiat currency reserve.

Craig

[ePesoInitiative]

Omni asset backed by a reserve of dollars. Tether like the name says, is pegged to the $1 value of BTC.