Bitcoinbooming ! My one of the most favourite coin ( Thether)
Hello people i am abhii from India and this is my second post on bitcoin blooming . And let's know about one more Cryptocurrency which is Thether
Some Knowledge about Thether
Tether was founded in 2014 by Brock Pierce. It started in the Isle of Man, but later moved to the British Virgin Islands. The company is also incorporated in Hong Kong.Tether was originally called "Realcoin," but the name was changed to Tether.
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Tether's founders and executives are the same executives of the cryptocurrency exchange Bitfinex.
Tether's official website asserts that its platform was "built to be fully transparent at all times. Despite this, the company has not complied with public pressure to publish clear proof that its fiat currency reserves contain at least enough money to back each USDT coin in circulation with an equal amount of U.S. dollars.src
Currently i am not holding this coin but want to hold it for a period of 4 years.
Current Position
a 24-hour trading volume of $56,044,367,634 USD. Tether is up 0.03% in the last 24 hours. The current CoinMarketCap ranking is #4, with a market cap of $19,058,202,235 USD. It has a circulating supply of 19,038,287,105 USDT coins and the max. supply is not available. The top exchanges for trading in Tether are currently Binance, Huobi Global, HBTC, Hydax Exchange, and Binance.KR. You can find others listed on our crypto exchanges src
Performance of the coin ( Past and future)
May 18, 2018, Tether increased the number of USDT coins in circulation by 250,000,000.In January 2018, Tether had increased the number of tokens in circulation by 850,000,000. Both instances coincide with bitcoin price increases. Along with existing public concerns over the company's transparency issues, this has caused concerns about price manipulation. Some believe the company does not actually possess enough USD to back all USDT tokens in circulation.
An anonymous report released in January 2018 concluded that "Tether printing moves the market appreciably." Using data available on Tether's own website, the anonymous author of the report demonstrated an apparent relationship between the price of bitcoin and the minting of new USDT tokens.[30] Another study released on June 13, 2018, made similar claims.src.
Benefits of Thether
Tether is very useful for exchanges who often have problems when transferring money into USD, such as legal issues with banks. This has happened to several cryptocurrency exchanges.
Many banks choose not to work with cryptocurrency exchanges, so it can be difficult for them to deposit and convert funds.
In long run it will be highly profitable . So i would like to hold it for a longer period
Other Cryptocurrencies profitable in long run are Monero , Xrp, Bitcoin cash and Litecoin if held for a longer period .
Thankyou @steemcurator01 for all the support
The good news is many big banks are interested to integrate cryptos with the global banking system.
I think Tether is a profitable investment. If you can hold those for a long term like 3-5 years, they can offer you a good return.
You can add ethereum in your list. XRP is offering airdrop on 12th December so far I know.
Tether is definitely a great coin. One of the most stable stable coin I have knew. It has great potential and a stable source of investment and savings also. I see tether rising up more in value
Hello abhiiii!
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