What is the meaning of USDT on Binance.com in the context of cryptocurrency?
RocokoMay 02, 2022 · 3 years ago1 answers
Can you explain the significance of USDT on Binance.com in relation to cryptocurrency? What role does it play and how does it affect the trading experience on Binance.com?
1 answers
- May 02, 2022 · 3 years agoUSDT, or Tether, is a stablecoin that is widely used on Binance.com. It is pegged to the value of the US dollar, which means that 1 USDT is always equal to 1 USD. This stability makes USDT a popular choice for traders who want to hedge against the volatility of other cryptocurrencies. On Binance.com, USDT is used as a base currency for many trading pairs, allowing users to easily trade between different cryptocurrencies. It provides a stable value that can be easily converted back to other cryptocurrencies or fiat currencies. USDT on Binance.com plays a crucial role in providing liquidity and stability to the cryptocurrency market.
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