What is Bitcoin USDT (Bitcoin USD)?
What is Bitcoin USDT? According to official sources, Bitcoin USDT is unique in
What is Bitcoin USDT? According to official sources, Bitcoin USDT is unique in the world of blockchain. It is a decentralized and unmanaged way of trading and settlement that allows users to complete transactions without trusting third parties. This can solve the issue of fund security in most cryptocurrency markets. According to Coinmarketcap, as of January 31, 2020 (UTC), the market value of Bitcoin is 377 million US dollars (at the time of writing).
Bitcoin USDT is a digital currency dominated by cash or hard currency, aiming to make payments without affecting the exchange of legal tender. This project is initiated and supported by the Swiss financial institution FINMA, which allows investors to directly send BTC to specified accounts. The operating mechanism of Bitcoin USDT is as follows: the first mode is similar to the traditional banking system; the second mode is similar to cash peer-to-peer technology (such as electronic transfers); the third mode, different from the existing banking system (such as telegraphic transfers), uses US dollars as reserve assets; and the fourth mode uses legal currency as support, namely the Chinese yuan and USDT.
Bitcoin USD
Currently, Bitcoin USDT is in a state of low liquidity, with transaction fees of approximately 0.015 USD. Although its price has not been confirmed, its volatility is still high. According to the latest data from BitInfoCharts, the 24-hour average price range for BTC and ETH is $10,500-$1,600.
In addition, according to CoinGecko, the current market share of USDT is 69.7%, while Ethereum’s market share is less than 10%, with a market value of less than 2 billion US dollars (note: “stablecoin” refers to a company or project that is pegged to legal tender, issued and supported by central banks for value storage). (Bitcoinist)
Earlier reports stated that on June 30, the U.S. Securities and Exchange Commission announced that it will begin auctioning “Blockchain.com’s Bitcoin ETF” next week.
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