Tether is the fifth largest coin on the crypto markets by value. The coin has a market cap of $65.5 billion and a daily trading volume of around $83.3 billion.
The Tether coin is denominated by the US Dollar and is therefore considered a stable coin, making it different from Bitcoin and other digital currencies. The price of Tether is around $1 because it is pegged to the US Dollar. However, the price can fluctuate around this value but not too much, unlike Bitcoin, whose price reached a high of $65,000 this year.
Investors use coins like Tether to buy other cryptocurrencies. Because the currency is stable, when they fear the crypto market’s volatility, they use Tether as a safe haven to guard their funds.
Tether has been a subject of controversy
Tether has a cash reserve of 2.9%, and the remaining reserves are in unsecured, short-term debt. This causes concerns among investors and economists.
They fear that the company’s reserves are not sufficient to support its backing by the Dollar.
The immense holding of commercial paper places Tether in the top 10 largest holdings in the world. Some have even compared Tether to a money-market fund but without regulation.
JPMorgan analysts have cautioned that losing confidence in the Tether coin can cause a ‘severe liquidity shock’ to the rest of the cryptocurrency market. In addition, if withdrawals increase, it could taint not only crypto markets but also other assets in the financial world.
How can you invest in Tether?
You can invest or trade the Tether coin through a cryptocurrency broker or exchange platform that supports it, such as Coinrise. Besides Tether, Coinrise offers tens of different crypto assets which you can invest, trade, or exchange.
Coinrise specializes in investments and other services like online trading, wealth management, private equity, venture capital, private debt, and financial strategy.
They have multiple account types to choose from Mini, Silver, Gold, Platinum, Diamond, and VIP. A minimum deposit of €250 is required in order to start trading. Some of the benefits Coinrise clientele enjoy are welcome bonuses, trading signals, 1-on-1 educational support, trading room access, and VIP mentorship. Benefits are customized to the account type. Withdrawals are processed within five business days.
In terms of assets, Coinrise provides access to CFDs in cryptocurrencies, investments in stock markets, and hedge funds for advanced clients. Coinrise has a multilingual support staff, and they are available 24 hours a day, six days a week. You can reach them for account-related queries via WhatsApp, email, call back, or the live chat service.
The crypto market in general has been a controversial topic. However, it is still acquiring massive interest from investors and traders. The Coinrise brand offers many options and is a one-stop-shop for investors and traders. They have structured their services to appeal to a broader clientele. In addition, they provide attractive benefits to satisfy account holders.