Why do we use $USDT?

January 3, 2023
1 Mins Read
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Why do we use $USDT?

$USDT is a stablecoin created by Tether. They tie the value of $USDT to  $USD in the real world  at a 1:1 ratio, with 1 $USDT equaling 1 $USD.

Since 2022, Tether has a total of $82 billion in reserves, so $USDT has become one of the most popular stablecoin.

  • What is the benefit of $USDT?

Tether will determine the supply of $USDT based on market demand. They mint $USDT according to the reserved $USD currency and then send $USDT according to the reserved amount to the exchange where traders can easily compare the values ​​of the coin pairs.

Holding $USDT can also strengthen your investment portfolio to be more stable. At a time when other cryptocurrencies markets are highly volatile traders can migrate from other currencies to $USDT to prevent losses and no need to withdraw a fiat currency.

Additionally, the amount of $USDT minted can also indicate cryptocurrency buying demand.  If mass production this meant that there was a huge demand for crypto coins at the time, as traders preferred to exchange $USD for $USDT before they are buying other cryptocurrencies.

  • Why does MegaMoon use $USDT pool ?

$USDT is a coin pegged to $USD, so it has low volatility and easy to compare in value. It is our intention that all MegaMoon participants receive the lowest possible risk. 

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