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April 19, 2023What is USDT?
USDT is an acronym that stands for “Tether US Dollar”. It is a type of cryptocurrency known as a stablecoin that is designed to maintain a stable value in relation to the US dollar. It is issued by the company Tether Limited, which claims that each USDT token is backed by a reserve of US dollars at a 1:1 ratio. This means that for every USDT token issued, an equivalent amount of US dollars must be held in reserve. USDT is commonly used as a way to hold the value of a cryptocurrency investment when prices are fluctuating excessively.
