Tether, more popularly known as USDT, is an ERC-20 stablecoin that is pegged 1:1 to the value of the US dollar. Each USDT created is backed by various assets in the Tether platform’s reserve account - which include both traditional currency (and cash equivalents) and receivables from loans made by Tether to third parties.
Similar to USDC, due to its nature of having established reserves, dollar stablecoins like USDT are the closest equivalent to a USD currency in the Ethereum blockchain. As long as you have an ETH Receiving Address activated, you may start trading with USDT!
For more information on USDT and its dollar reserves, you may check this link.
Note:
Coins.ph supports USDT transfers through the Ethereum network / ERC-20 Network only. Sending funds through private networks (such as BNB Chain, Polygon Network, TRX, etc.) will result in a permanent loss.
