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Tether


Stablecoins
What are the best Tether alternatives?

We have 3 alternatives to Tether. The best Tether alternatives are USDC, Dai, and Binance USD.


What is Tether?

Tether was founded in 2014 as Mastercoin, and went into use in 2015. Tether is a stablecoin, which is always pegged one to one with the US dollar, and is used as a "safe haven" or a place to store funds prior to trading. Tether is by far the most popular of all the stablecoins, so much so that Tether actually has a higher market cap that any cryptocoin, including Bitcoin. Tether is a fully backed stablecoin, meaning that liquid deposits are kept by Tether that equal the value of all outstanding coins, as opposed to algo stablecoins. Tether has undergone some controversy, being probed by the New York State AG, but settled all charges. After the collapse of the algo TerraUSD stablecoin, Tether underwent intense scrutiny, with some exchanges very briefly breaking the USD peg. However, Tether has always honoured exchanging Tether for USD, and has paid out over ten billion dollars in exchanges during recent market turmoil, proving their stability.


What platforms does Tether run on?

Tether runs on Web.



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Tether alternatives

1. USDC

USDC logo
  • Category: Stablecoins
  • Platforms: Web
  • Tags: stablecoinusd stablecoin
An image of USDC.

USD Coin, or USDC, is the second most popular stablecoin of all behind Tether, and the fourth largest crypto of all by market cap at this time. USDC is a fully backed stablecoin, designed to always be pegged one to one with the US dollar, and used to hold value...

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2. Dai

Dai logo
  • Category: Stablecoins
  • Platforms: Web
  • Tags: stablecoinusd stablecoin
An image of Dai.

Dai is a stablecoin, designed to stay pegged to the US Dollar. Dai was created in 2014 and launched on the Eth mainnet in late 2017. Dai was created as an over-collateralized algo stablecoin based on MakerDAO smart contracts, where depositors put up 150 dollars in collateral for every 100...

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3. Binance USD

Binance USD logo
  • Category: Stablecoins
  • Platforms: Web
  • Tags: stablecoinusd stablecoin
An image of Binance USD.

Stablecoins have been the key factor behind the boom in the cryptocurrency market in recent years. Binance USD, or BUSD, is the stable coin developed by Binance and Paxos pegged at a 1:1 ratio to the U.S. dollar. BSUD was a project that was born to help make transactions in...

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Reviews



2022-06-21 16:58:34

This is one of the most divisive stable currencies in the cryptocurrency market, as it is the third most valuable cryptocurrency in terms of market value. Its major feature is that it is 1:1 linked to the dollar, which means that each token created is backed in dollars, according to official sources.