What is Tether (USDT)?
What is Tether (USDT)? - Crypto Betting Coin Explained
Tether (USDT) is among the most widely used stablecoins, a category of cryptocurrency aimed at maintaining price stability and reducing volatility compared to other digital assets. It is the largest stablecoin by market capitalization and can be traded online, as well as used for deposits and withdrawals at D1CE.
Discover more about Tether and how to utilize it in this guide.
What is Tether (USDT) & How Does it Work?
Originally, cryptocurrencies were designed for transferring money and making online payments. However, investor speculation has led to significant price volatility. The prices of Bitcoin and the overall crypto market often experience substantial fluctuations. While this can benefit traders and investors, it complicates the use of cryptocurrency as a traditional currency, as prices can change rapidly.
Tether was initially launched as RealCoin and is pegged to the US dollar. There are also versions pegged to the Euro, Chinese Yuan, Mexican Peso, and even gold. A pegged currency is one that is backed by reserves of the asset it is tied to. For every USDT in circulation, the company behind the stablecoin must hold an equivalent amount of US dollars.
Since Tether's trading value moves in tandem with the US dollar, it is shielded from the market's volatility. Tether provides real-time transparency about its dollar reserves on its website, ensuring users have full visibility. The stable value of Tether allows it to function like real money while still offering the advantages of digital currencies, such as fast transactions, borderless transfers, and low fees.
What is the History of Tether Coin?
October 2014: The precursor to Tether, known as RealCoin, was launched on the Bitcoin blockchain.
November 2014: RealCoin was renamed Tether, with announcements of launching tokens for USD, EUR, and JPY.
January 2015: Bitfinex became the first cryptocurrency exchange to trade Tether.
November 2017: A hard fork of the Tether blockchain was activated after hackers accessed $31 million.
August 2018: Tether accounted for 80% of Bitcoin trading volume, with $500 million issued.
October 2018: Concerns over outstanding Tether led to a drop in the stablecoin's price to $0.88 as traders exchanged Tether for Bitcoin on crypto exchanges.
How to Bet on Casino Games & Sports with USDT
If you want to use USDT for playing casino games, simply follow these steps:
Open a D1CE Account: Create a new account or log into your existing one.
Check Your Balance: Ensure your account balance is sufficient and make a deposit using Tether if necessary.
Choose a Game: Select from the available casino games, paying attention to the minimum bet, RTP rate, and other relevant information.
Consult Guides: Refer to our online casino guides for tips on how to play.
Set a Budget: Establish a monthly budget and opt for responsible gaming.
Betting on sports with Tether is equally straightforward. Just follow these steps:
Log In or Create an Account: Access your account or set up a new one if you don't have one yet.
Open the Sportsbook: Browse through the available upcoming and live matches.
Select an Event: Choose an event and check the stats or watch the live stream if available.
Pick Your Bet: Explore various betting markets, such as moneyline, spread, totals, props, handicaps, and parlay
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