The current problem in the cryptocurrency world lies in how volatile it has turned. In all honesty, this is a characteristic that identifies cryptocurrencies the most but with the changes and influence of so many external sources lately; you can say it is more noticeable since a few years ago.
As a result, many people ask themselves if they should be spending money on this source of investment and payment. It is a tricky question to answer for two main reasons: how wealthy people have been able to be thanks to them and the wide variety of cryptocurrencies available nowadays.
For example, you have Bitcoin and Ethereum, but others like Tether are considered and acquired by many.
In the case of the latter, you might want to look out to it if you’re considering continuing your cryptocurrency investment or if you’re thinking of getting started in it.
Since this may be the case (and we believe it is, considering you’re here), we will review Tether today and answer questions like how much it costs and is worth your money.
What Is Tether (USDT) & Its Purpose?
We want to start with something simple, and that is the concept of the entire currency.
Now, it is simple to say, “it is a cryptocurrency,” but that doesn’t really explain this one out of the many out there by just replying that.
Therefore, we’re going to dig a bit into its background, so you’re able to understand the extension and difference it has with other cryptocurrencies.
Tether was launched as RealCoin in July 2014 and was rebranded as Tether in November by Tether Ltd., the company that is responsible for maintaining the reserve amounts of fiat currency. It started trading in February 2015.
But what is the goal of this cryptocurrency? The Tether team wanted to create a stable currency that doesn’t experience the highs and lows as Bitcoin can. In other words, eliminate the volatile and unstable factors that over 90% of the cryptocurrencies present to this date.
Tether is a cryptocurrency that uses blockchain technology. Its crypto coins are supported by traditional fiat currencies like the dollar, the euro, and the Japanese yen and are stored in a designated account.
Tether tokens, which are native tokens of Tether, trade under the USDT symbol.
Other stablecoin categories include crypto-collateralized stablecoins, which use cryptocurrency reserves as collateral, or non-collateralized stablecoins. Non-collateralized steady coins are not secured but work in the same way as a reserve bank to keep the token supply at the right level. This depends on the economic environment.
According to CryptoCompare, a global data provider on cryptocurrency markets, Bitcoin to Tether trading still makes up the majority (over 50%) of BTC traded into fiat currency or stable coin. 57% bitcoin trading was conducted in USDT as of February 2021, while this coin continues to be a key source of liquidity for cryptocurrency markets.
To make this explanation a bit simpler, think about the coin as a currency created to have a 1:1 exchange rate to the U.S. Dollar, making it easier to liquidate bitcoin and buy cryptocurrencies while using fiat currency.
Who Is the Brain Behind the Idea?
Brock Pierce is a cryptocurrency entrepreneur, philanthropist, and former actor mostly known for all his activities and involvement in the cryptocurrency world.
Pierce’s first involvement starts with the Bart and Bradford Stephens brothers, who founded the venture capital firm Blockchain Capital (BCC) and Brock and raised $85 in two venture funds in 2017 only.
Blockchain Capital raised a new fund using a digital security offering, one of the first traded security tokens.
Then, Pierce worked with Mastercoin, a startup that raised capital via an Initial Coin Offering (ICO) in 2013. Bloomberg claims that this “started a global ICO craze” with hundreds of startups raising billions.
In March 2014, Pierce and a group of investors filed an offer to purchase the assets of Mt Gox using a Cypriot entity called Sunlot Holdings Ltd. Mt Gox, which had announced it had lost 850,000 Bitcoin, had stopped operations and filed for bankruptcy in Tokyo a month prior.
During the same year, he was elected Director at the Bitcoin Foundation. Many members of the Bitcoin Foundation resigned due to concerns about their directors. In July 2015, the organization declared bankruptcy.
This is a bit ambiguous, considering that it is a bit of a jump from here to there. However, this is because there’s not much information (that we care about) when it comes to this mastermind behind Tether.
But in the case of this cryptocurrency, he co-founded it with Reeve Collins and Craig Sellars, and since then, it has surpassed many people’s expectations.
In fact, Tether was the most traded cryptocurrency in the market in 2019, surpassing Bitcoin itself.
Is It Useful to Buy Tether?
This is what everyone asks even after knowing about cryptocurrency, and it makes sense.
It is hard to understand the entire background and how you can use one in specific, especially when you are not keen or used to this type of currency.
The truth is, we only covered the essentials, and you should still do some more research when it comes to buying Tether and deciding if it is good for you or not.
However, we can’t just leave you without telling you that it is indeed useful. It only depends on how you see it and end up using it.
In the case of Tether, we have a currency that works just like others: for payments, trading, and lending.
In terms of payments, you can easily use it to send money to other people in a matter of minutes, no matter where you are and from where these people are.
But one thing that makes it different from other cryptocurrencies is that you can pay without worrying about the currency’s value changing.
Since Tether is stable, it will reach the other person while its value is the same, unlike Bitcoin or other options.
As for trading, you can simply look at it as a way to replace your desires to turn crypto into cash, and then you can just trade it for Tether and have the same benefits.
Finally, lending this crypto saves you and others the need of paying exorbitant interest rates for the type of currencies they requested from others since they needed to use Bitcoin, Ethereum, or others for some needs, purchases, and more.
But with this said, where does this leave us with the answer to the main question?
It is completely useful to invest in Tether, but you need to consider if it is worth it as part of your plans and interests despite being a stable coin.
Why Renting Websites Is 10 Times Better
If you’re considering Tether or cryptos overall in order to make money and invest it, you will notice it can be both a tremendous and terrible option.
It is hard to deal with this world, and even when you acquire a currency like Tether, you will find yourself trapped between other cryptocurrencies as well that are not as stable and this one.
So, what does this mean? That as a business, you should consider other options.
Renting websites isn’t a business that will earn you $10k+ at once (or make you lose them) like crypto, but it is definitely a stable option that won’t take you too much money but rather time that will be worth it.
This business model is about building websites for other companies or small businesses; this is in order to generate leads by ranking them on Google and bringing leads.
These leads are what will generate you money since you will rent the website to the clients so they can have more clients coming their way, but each time one is generated, you get a commission for it.
This is passive income, and you can even forget about the website later and still keep earning money from it.
Now, just imagine building and renting several websites—easy money but after putting a lot of time and effort when starting in this business.
If you want to join the party and are interested in this alternative we just introduced to you, we recommend starting with a training program that can take you from knowing nothing to building an empire.
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