Friends, today we will talk about USDT, which is the most used coin in the world of crypto. New people often do not understand what USDT is and why it is mentioned everywhere. Today we will understand it in simple terms.
What is USDT?
USDT is a digital coin referred to as a 'stablecoin'. Stablecoin means a coin whose rate always remains the same. The rate of USDT is always equal to 1 Dollar, meaning if 1 Dollar is 280 rupees, then 1 USDT will also be approximately 280 rupees.
Why was USDT created?
The crypto market is very volatile. Sometimes Bitcoin is at 60 thousand and the next day it is at 55 thousand. In such situations, people created a coin that always remains at the same rate so that people can park their profits or money in a safe place. USDT was created for this reason.
What is the function of USDT?
1. To keep safe – When you make a profit in any coin, it is better to keep that money in USDT so that it does not decrease.
2. For buying and selling – Most people buy and sell coins in USDT on Binance.
3. To make rupees in P2P – When you want to withdraw money in Pakistan or India, you convert USDT to rupees.
Simple Example
If you bought Bitcoin for 10,000 rupees and it increased to 12,000, you would want to take your profit and keep it in a safe place. You will sell your Bitcoin and get USDT so that the 12,000 profit remains safe. Now, when needed, you can convert USDT to another coin or cash.
Why is USDT used everywhere?
Because it is a stable coin that is always in demand. It is used in every country, is highly sought after, and people trust it. Nowadays, if you use crypto, it is difficult to operate without USDT.
If anything is unclear, you can ask in the comments, and if you liked the article, please like, share, and follow. Thank you.
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