What is USDT

Tether is a divisive cryptocurrency token, Tether claims that each unit of Tether is backed by one United States dollar held in reserve by Tether Limited, and may be redeemed through the Tether Platform. Though Tether Limited has never issued the promised audit of their reserves. It’s primary objective is to facilitate transactions between different cryptocurrency exchanges with a value that is fixed to the United States dollar, enabling traders to take advantage of high speed trading opportunities without resorting to slow bank wires. Tether was issued on the Bitcoin blockchain through the Omni Layer Protocol As of February 2018, Tether is ranked around the 15th highest market cap cryptocurrency in the world, with a market cap around $2 billions United States dollars as of 5 February 2018.Tether tokens are issued by Tether Limited.