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May 20, 2018, 09:06:14 PM |
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When someone deposits $1 into the bank accounts of tether, one USDT will be created and sent to the USDT address of the person who send the dollar.
Most frequently someone will deposit $1 into their Bitfinex account, either by wiring $1 to Bitfinex or depositing $1 worth of bitcoin and subsequently selling it, and withdrawing one USDT from Bitfinex; when Bitfinex runs out of USDT to send to customers, they will buy USDT from tether in sufficient amount to cover withdrawal requests.
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