Tether is the digital equivalent of the US dollar. In fact, this cryptocurrency is equal to the US dollar, that is, 1 USDT = 1 USD (the rate is strictly fixed for the dollar).
The value of USDT is set depending on the local currency to which it is exchanged. Therefore, Tether is used as a store of value in US dollars, euros, or Japanese yen, with more currency units coming soon.
Initially, USDT was launched on the Bitcoin blockchain, but over time it became so popular that for the convenience of users, it was also launched on other popular blockchains, since each of them has its own advantages and disadvantages.
USDT Omni runs on the Bitcoin blockchain via the Omni Layer protocol. Thus, the wallet address is generated in the same format as that of BTC, and all transactions pass through the BTC network. USDT ERC20 similarly functions on the Ethereum blockchain. USDT TRC20-Tron blockchain.
Each option only works within its own network, so you can't send any of the standards to a network that it doesn't support..
The share of the USDT dollar stablecoin in exchange trading exceeded 70%. Investors remain confident in the asset and continue to buy it.
From 2017 to 2020, the share of trading in the cryptocurrency market with USDT increased from 5% to 70%. Many experts of the crypto market believe that the dominance of stablecoin will continue, and only the intervention of regulators can change the situation.
In 2017, crypto trading pairs were traded mainly in the PTS, which largely contributed to their reaching a price high of $20,000. But the growth of stablecoins, and above all USDT, has changed the situation. Today, it is stable coins that dominate the crypto trade and most of the trading takes place using the Tether stablecoin.
According to The Block, in 2017, only 5% of trades were denominated in USDT, 50% in PTS, and almost 40% in USD. At the moment, up to 70% of all currency pairs are denominated in USDT, another 4% - in other stablecoins, and the PTS accounts for only about 15%. Earlier this year, USDT's dominance exceeded 80% of the market.
In the current and next year, the USDT cryptocurrency will continue its dominance in the market of cryptomonets, it has every reason for this - this coin has a low volatility, it is convenient to make calculations in it.
According to Tether Transparency, the capitalization of USDT is $16.2 billion, and the daily trading volume is more than $56 billion (38% higher than that of MTC). As a result, in September 2020, USDT took the third place in the ranking of cryptocurrencies by capitalization, displaced the Ripple XRP token from this place and overtook it by $4.1 billion. In 2020, the capitalization of Tether has grown almost 4 times.
According to the forecasts of analysts of the Bloomberg agency, if the trend continues next year, Tether may become the second largest coin by capitalization, displacing Ethereum from this place. Today, the capitalization of ether is $43.4 billion — 2.7 times higher than that of USDT — but from August 2018 to July 2020. it was mostly in the range of $8-30 billion. Bloomberg experts believe that the growth of stablecoin can only stop in the event of some extraordinary event in the markets — for example, a ban on USDT by regulators — otherwise it is not in danger.
Stable coins have become a response to the volatility and unpredictability of the crypto market. Projects without practical use are gradually leaving the market. And stable coins take their place.
During crises, investors traditionally move to less volatile assets. On the crypto market, these are stablecoins. Since some exchanges do not offer fiat pairs, stablecoins are the only available option for traders entering fiat assets during periods of volatility. In addition, it is often unprofitable for crypto investors to enter fiat due to commissions.
Another reason for the increased dominance of USDT this year was the rapid growth of the DeFi sector, which uses stablecoins to provide liquidity. 65% of USDT is Ethereum tokens of the ERC-20 standard, which has become the industry standard for stablecoins and DeFi projects
There are some cryptocurrencies that not only do not have their own official wallets, but do not have any wallets at all, and use the wallets of other cryptocurrencies, Tether is just such a cryptocurrency. Tether TRC20 uses a Tron cryptocurrency wallet. In order to store Tether TRC20, you can start one of the wallets that the official Tron website offers. There is no official Tron wallet yet, but it is possible to install wallets that are listed on the official website.
Go to the official website tron - tron.network, at the top right, select the Russian language. Next, select the "Ecosystem" tab at the top left, select the wallet in it, then open the tron wallets.
There are two options for tron wallets, these are browser extensions and installing the app on a smartphone. It is convenient to work on taps on a computer, so it is better to choose the Chrome browser extension, it is also installed on Yandex browser. You can download TronLink, a working browser extension-the Tron wallet. Now you can copy the wallet address and start collecting tron coins. The tron wallet is also suitable for collecting Feyorra (FsucetPay wallet token) and storing Tether TRC20 (USDT).
TronLink - a cryptocurrency wallet that can be installed as a chrome browser extension, this extension is also installed on Yandex browser. If you want to install this wallet on Android, then nothing could be easier, log in to Google play and see in the search - TronLink, download the extension, register and you can start using the wallet. You can also install a TronLink wallet on Apple.
Atomic Wallet - is an application for android, it is a modern development of a multi-currency crypto wallet, which is listed on the official website of the Tron coin.
Many users rated this wallet as one of the best so far. Pros: supports most of the well-known cryptomonets, including the Tron cryptocurrency. The app has a nice interface, the wallet has built-in exchange, staking.
You can have multiple wallets on your desktop by managing the wallets through separate user accounts.
Now you can copy the wallet address and proceed to collect Tron and Tether TRC20 (USDT) coins.