What is Tether (USDT)? – Cryptocurrency betting currency explained
Tether (USDT) is one of the most popular stablecoins. In general, a stablecoin is a type of cryptocurrency that is designed to keep the value of the currency stable, unlike other digital assets that fluctuate as much. USDT is the largest stablecoin by market value. You can use it to trade online, and you can easily deposit and withdraw it on Stake.com like other cryptocurrencies . Next, this guide will take you to learn about Tether and how to use it.
Tether (USDT) Introduction and Usage
Although cryptocurrencies were originally designed for payment and transfer, various speculative activities have caused the prices of most currencies to fluctuate violently, such as the price of Bitcoin, which often fluctuates wildly. This volatility may be beneficial to investors or traders, but for daily payments, the drastic price fluctuations make cryptocurrencies difficult to use.
Tether was originally called RealCoin, a stablecoin pegged to the U.S. dollar. Later, versions pegged to the euro, the Chinese yuan, the Mexican peso, and even gold were launched. The so-called “peg” means that for every USDT issued, the company behind it must reserve $1 in cash or assets to ensure its stable value.
Therefore, the value of USDT changes with the US dollar, so it is basically not affected by market fluctuations. Tether has disclosed its asset reserves on its official website. The information is completely open and transparent, and all users can view it at any time. The stability of the currency allows Tether USDT to be used like cash, while also having the advantages of fast transactions, no borders, and low fees of other digital currencies.
The history of Tether
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October 2014: RealCoin, the predecessor of Tether, is launched on the Bitcoin blockchain.
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November 2014: RealCoin was renamed Tether and released as a token for the U.S. dollar (USD), the euro (EUR) and the Japanese yen (YEN).
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January 2015: Bitfinix becomes the first cryptocurrency exchange to support Tether trading .
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August 2018: Tether accounts for 80% of the world’s total Bitcoin transactions, with USDT in circulation reaching $500 million.
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October 2018: Due to market concerns about insufficient Tether reserve funds, USDT briefly plummeted to $0.88, and a large number of users exchanged their coins for Bitcoin on exchanges for risk hedging.
How to use USDT to bet on casino games and sports events?
Want to use USDT for casino games ? Just a few steps:
Betting on sports events with Tether is also very simple:
How to deposit and withdraw Tether USDT on Stake ?
Deposit USDT:
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Log in to your Stake account and open your wallet.
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Choose to deposit or buy crypto.
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If you already have USDT, you can select Tether deposit and your preferred network and copy the deposit address.
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Paste USDT in your crypto wallet Select the correct network, paste the address, and confirm the transaction after double checking.
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Once the transaction is confirmed by the blockchain network, your funds will be available for betting.
If you don’t have USDT yet, you can directly purchase the cryptocurrency you need with your local currency using Moonpay and Swapped.com , and then top up to Stake.
Withdraw USDT
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Open your wallet and confirm that you meet the minimum withdrawal amount.
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Enter your personal wallet address and double-check to make sure it is correct.
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Enter the withdrawal amount and confirm.
If you encounter any problems with deposits or withdrawals, you can always contact the Stake customer service team to help you.
Best Slots and Sports to Bet on with USDT (with Tips)
All games on Stake support USDT, including slots. Compared with offline slots , online slots offer more exciting gameplay, beautiful graphics, diverse gameplay, and more bonuses and paylines . In addition, there are table games ( a range of casino table games such as blackjack and roulette ) and live dealer games for you to choose from. All games on Stake are provided by top software developers .
In addition, you can also place sports bets on Stake . We support pre-match and real-time betting on popular events around the world . Open the sports page to view event data and real-time odds. Football , basketball , cricket , e-sports are all available. Popular events also have free live broadcasts for you to watch.
What is the difference between Tether and other cryptocurrencies on Stake?
Stake supports a variety of cryptocurrencies , including Bitcoin , Ethereum , TRON , Litecoin , Tether , Solana , and EOS . Each cryptocurrency has its own features, advantages, and disadvantages, and you need to consider carefully before using a cryptocurrency.
The biggest feature of USDT is its stability. The value of the currency is almost unaffected by market fluctuations. If you deposit $10 in USDT today, it will still be $10 tomorrow.
Most cryptocurrencies are decentralized, but USDT is centrally managed by Tether, which is completely opposite to Bitcoin and other currencies, so some people are skeptical about it.
USDT can also support multiple blockchain networks (such as Ethereum, TRON, Binance Smart Chain, etc.). Users can freely choose the network, save transaction fees and shorten the arrival time.
Security and advantages of using USDT
There are many advantages to using USDT to deposit and withdraw in Stake:
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Price stability : No matter how the market fluctuates, USDT always remains around $1, and the value of funds is stable and reliable.
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Dollar Anchored : Directly pegged to the U.S. dollar, no conversion required, and investment funds are clear at a glance.
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Fast transfer : Online transfers are completed within minutes and funds arrive in seconds.
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Multi-network support : Users can freely choose the transfer network to reduce costs.
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Protect privacy : You don’t need to fill in bank card information when paying with USDT, which is safe and secure.
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Vault Secure Storage : Stake offers a vault feature with two-step verification (2FA) to further protect the security of your funds. For more information on cryptocurrency security, read our guide to secure currency storage for details.
Promotions, VIP Clubs and Responsible Gaming
Stake offers a wide range of promotions to make gaming and betting even more exciting. Don’t forget to check out our casino bonuses , sports promotions and our VIP Club benefits. You can win monthly bonuses , weekly prize draws , challenges , and enjoy special rewards including cashback , reload bonuses and your own VIP dealer .
Have fun! But please be sure to follow our Stake Smart Responsible Gambling Guidelines when playing games, bet responsibly, and have fun playing!
