It's no secret that most traders seek to lock in their profits, but due to the high volatility of cryptocurrencies, this has been quite problematic to do. This is because users need to exchange their cryptocurrency assets for fiat currency to pay for various goods and services and to trade on the market.
Doing this without involving fiat currency and constant withdrawals is quite troublesome. Stable-coins, crypto-assets that help lock profits at a ratio of about 1:1 to major fiat currencies, have come to save the market.
One of the most in-demand and popular cryptocurrencies on the market is USDT (Tether).
Small backstory
USDT cannot be mined, and there is no limit to the tokens that can be issued. According to the founders, this is made possible because the cryptocurrency is secured by real assets.
It is this fact that raises the most doubts in the cryptocurrency community. This skepticism is also reinforced by the absence of a third-party audit of the company.
At the same time, on its official website Tether states that USDT is not money and they have no real price, and the company does not have to guarantee the value and security of each token.
Also, the company has no obligation to return USDT to users and reserves the right to refuse service and compensate users who violate the user agreement. If Tether goes bankrupt, alarmists caution, no one will return funds to users.
Nevertheless, the founders have repeatedly assured that they do not pass third-party audits only to maintain commercial secrecy, and the official project website regularly publishes reports on the security of the coin with real assets.
Another complaint against Tether is considered to be its centralization. A number of experts believe that this can lead to uncontrolled monetary emission. But if we consider USDT a hybrid of both cryptocurrency and fiat, its centralization is more likely to demonstrate its similarity to conventional fiat institutions.
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