Tether (USDT) is a type of cryptocurrency known as a stablecoin, which aims to maintain a stable value by being pegged to a fiat currency, such as the US dollar. This peg is maintained by holding reserves in the equivalent amount of fiat currency or other assets. USDT is widely used in the cryptocurrency market for trading, as its stable value provides a haven from the volatility typical of other cryptocurrencies. It facilitates transactions between different cryptocurrencies and fiat currencies, acting as a digital dollar substitute on various crypto exchanges and platforms.
