Now would be a great time to get into the cryptocurrency market, as the market’s total value now sits at around $2 trillion according to CNBC.
While there are plenty of digital currencies to choose from, Tether is one of the less-discussed options on the market. So is it worth investing in? And if so, how can you buy it?
Make sure to keep reading to learn about the latest cryptocurrency news including some essential tips on Tether.
What is Cryptocurrency?
If you’re out of the loop, you might find yourself wondering, what is a cryptocurrency, anyway? Maybe you’ve heard about it on the news thanks to big-time investors like Elon Musk, who is credited with increasing the popularity of Dogecoin.
The simplest way to describe cryptocurrency is to think of it as a digital-only currency. It has no centralized regulatory system, unlike real-world or fiat currencies.
Instead, all transactions are encoded onto something known as a ledger, which digitally records and encrypts the unique code of each transaction.
The value of each cryptocurrency is ultimately decided on market demand. As such, cryptocurrency stocks can fluctuate greatly, even in the span of a few hours.
How Does Tether Stack Up?
Even if you have only a passing familiarity with cryptocurrency, you’ve probably heard of popular currencies like Bitcoin, Ethereum, or the aforementioned Dogecoin.
Tether, on the other hand, doesn’t have the same recognition as its siblings. But that’s not necessarily a bad thing.
In fact, Tether has one major advantage over its competitors — stability. Tether is, well, tethered, to the value of the U.S. dollar, making it one of the only forms of cryptocurrency to attach itself to fiat tender.
As such, Tether might be a better investment for those looking to dip their toes into the world of cryptocurrency. There’s less risk involved, and you can often find it at a more affordable rate than other digital monies.
How Can You Buy Tether?
As mentioned above, Tether is tied to the value of the U.S. dollar. That doesn’t mean that others can’t get in on the action, however.
As long as you have a crypto wallet, you can find the exchange rate for Tether and invest. Though that might sound complicated, it’s easier than it sounds.
Sites like VirgoCX make the process easier by showing the exchange rate, in this case, USDT to CAD, and providing a quick tutorial on the purchasing process.
All in all, the process only takes a few minutes once you’ve accounted for the exchange rate.
Keeping Up With the Latest Cryptocurrency News
There’s a ton going on in the world of cryptocurrency news. So much so that currencies like Tether often get left in the dust.
But would-be crypto investors shouldn’t sleep on Tether. Thanks to its stability, it’s one of the better coins to invest in, as there’s far less risk involved.
For more tips on all things crypto, including what to buy and how to buy it, make sure to keep up with all the latest content on our blog!