Cryptocurrency Q&A
How does BTC USDT work?
How does BTC USDT work?
CryptoGladiator
Thu Mar 28 2024
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7 answers
1961
Could you please explain how the BTC-USDT trading pair works? I'm a bit confused about the mechanism behind it. I understand that BTC is Bitcoin, but what exactly is USDT and how does it interact with BTC in trading? Is it a stablecoin pegged to the US dollar? And how does the pricing of this trading pair adjust in the market? I'm also interested in knowing about the liquidity and volatility of this pair. Could you provide some insights into its trading patterns and any risks involved? Thank you for your time and expertise.
7 answers
AmethystEcho
Sat Mar 30 2024
Initially, all Tether tokens were issued on the Bitcoin blockchain through the Omni Layer protocol.
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CryptoElite
Sat Mar 30 2024
BTCC is a UK-based cryptocurrency exchange that provides services to users seeking to buy, sell, and trade digital assets.
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henry_miller_astronomer
Sat Mar 30 2024
Nowadays, however, Tether can be issued on any blockchain that the platform currently supports, providing greater flexibility and scalability.
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EnchantedNebula
Sat Mar 30 2024
Each Tether token issued is backed by one US dollar worth of assets. This means that for every USDT in circulation, there is a corresponding amount of fiat currency held in reserve.
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DigitalDragonfly
Sat Mar 30 2024
This backing mechanism gives Tether its stability and allows it to maintain a relatively stable peg to the US dollar.
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