What is Tether USD (USDT)
USDT or USD-backed tethers are asset-backed cryptocurrency stablecoins. Tether tokens are fixed in fiat currency (USD in this case), so they maintain price stability / low volatility. Tether tokens exist as digital tokens built on various blockchains such as Algorand, Ethereum, EOS, Liquid Network, Omni, Tron, Bitcoin Cash Standard Ledger Protocol, Solana and more. This article describes Tether’s key technical features and general tokenomics (and how to buy and earn USDT at MEXC).
Recent USDT Token Price & Performance
As a stablecoin by definition, USDT performs quite steadily. However, on February 11th, 2022, it did reach a high of approximately 1.0023 USD (ATH). Additionally, it decreased from its all-time high of 0.9817 USD on May 12, 2022 until that point.
Each tether token in circulation is backed by a 1: 1 ratio in the equivalent fiat currency held in the Hong Kong Tether Limited reserve. This implementation reduces the overall complexity of performing flat and crypto audits while improving the security, traceability, and transparency of these audits.
1.Three-Layer Stacking Structure.
2.Proof of Reserve (also known as Proof of Solvency and/or RealTime Transparency)
How to buy USDT?
Looking for how to buy USDT? You can purchase USDT token on MEXC following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “USDT” using the search bar to see the available trading pairs. Take USDT/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of USDT you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy USDT] to confirm your order. You will find the purchased USDT in your Spot Wallet.
For the comprehensive guide on how to buy USDT and other available tokens, please visit special MEXC How to Buy Guides Section.
Tether Token Staking
MEXC allows you to bet tethers and other tokens on a regular basis through MX DeFi events. Other staking products with flexible and fixed APY are also available. You can check if the Tether Token Staking option is available here.