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What is Tether (USDT) and how does it work?

What is Tether (USDT) and how does it work?

Tether (USDT) is a cryptocurrency with a value meant to mirror the value of the U.S. dollar. The idea was to create a stable cryptocurrency that can be used like digital dollars. Coins that serve this purpose of being a stable dollar substitute are called “stable coins.” USDT is the most popular stable coin and even acts as a dollar replacement on many digital currencies exchanges!

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