Tether is a cryptocurrency that markets itself as the most effective mix of the best from both worlds: blockchain-based and traditional currencies. Tether (USDT) is a digital representation of USD. It is a newly upgraded type of cryptocurrency. They focus on reducing the high volatility that characterizes Bitcoin and digital currencies in general.
This cryptocurrency is a stablecoin, a new class of cryptocurrencies that attempts to offer price stability by being supported by reserve assets. This new type of cryptocurrencies wants to keep the benefits of instant transactions and anonymity coming from blockchain technology but bolstered by government-issued currency.
This cryptocurrency is built on innovative blockchain technology, issued by Tether Operations Limited back in 2014. What is truly significant and groundbreaking about this digital coin is that it is 100% backed by real assets in the Tether deposits. One Tether is equal to a currency unit selected. This means that 1 Tether is equal to 1 USD, held by Tether Limited. In this way, the cryptocurrency is linked to a real-life currency that is supposed to keep consistent value.
The company states that Tether can be converted into stable currency, not only USD but also EUR and the offshore Chinese yuan. Furthermore, they say that Tether facilitates business to use this token backed by fiat money, to store, exchange, and send these digital tokens, globally, instantly, and cost-effectively.
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Tether Explained
You can send and receive Tether peer-to-peer across all platforms and wallets that support this currency. Furthermore, you can fund the account using other Tether-enabled wallets.
To motivate people to use this cryptocurrency and showcase the system’s democratization, the company publishes the value of its reserves daily. It is slowly gaining its momentum and is today considered as one of the most stable crypto coins for transactions and investments.
To start using this method, you first need to create an account and get a Tether wallet from the official website, or one of many other sites offering similar solutions. There is also a wide selection of apps you can download for free to use your wallet on the go.
After you’ve submitted the registration form, keep in mind that your account needs to be verified by the team of the company first.
Tether, a cryptocurrency
Be aware that Tether will charge you a non-refundable 150 USDT verification fee once you submit a request to open an account. The company says this fee is a type of guarantee that only serious customers get the account. Furthermore, this fee is for the company’s costs incurred during the verification process, as each form submission is scrutinized and then either approved or declined.
How to Deposit via Tether?
First, you have to find your Tether-friendly live casino. As cryptocurrencies are not a novelty, and punters very much appreciate the benefits of anonymity and fast depositing and withdrawal timeframe with lean costs, more and more online casino providers offer digital money as legit banking options.
Upon creating or signing into your existing account, go to the cashier page and look for Tether, recognizable by a capital T. From this point on, depositing is the same as any other cryptocurrency. You are simply transferring money from your crypto wallet into your casino player account. And that’s it.
How to Withdraw with Tether?
Withdrawals are possible, and what’s quite convenient about this is that a player can later send money from his Tether wallet into his bank account.
The process is easy, secure, and fast, thanks to an advanced technology used for these services. And it works the same way as topping-up the account beforehand. Visit the banking page, find the withdrawal section, and find Tether as a withdrawal method. After this, follow the instructions.
Transfer Times, Fees, and Security
Like all other cryptocurrencies that built a good reputation on security, discretion, and low, or almost non-existent fees, this cryptocurrency is no different.
You will not be asked to provide any personal data, except an email during the account’s registration process. This means that Tether Limited does not own or keep any of your sensitive information.
Depositing time is fast, done instantaneously, as is the case with withdrawing funds. The transactions take just a few minutes to be fully processed and transferred between eWallets or eWallet and bank account.
Speaking of fees, there are usually none, but please check the casino’s payment policy first to eliminate unwanted deductions from your account. They charge a 0.1% fee per fiat withdrawals and deposits, while any transaction in Tethers is free.
As for the security, it is guaranteed thanks to the usage of the fully secured protocols. Besides already advanced blockchain technology, the implementation of the Omni platform and ERC20 Tokens protect all your transactions.
