Best For

  • High Risk Traders
  • Exchanges

Tether (USDT) is a stablecoin pegged to the US Dollar. USDT is issued and maintained by Tether Holdings and was the first stablecoin to gain widespread adoption after launching in 2014. USDT tokens are issued on multiple blockchains and are redeemable at a 1:1 rate for US Dollars through the Tether platform.

Tether Stablecoin - 2020 Comprehensive Review

Overall Score:

5
Not Trusted
Liquidity:
9.5 of 10
Transparency:
3 of 10
Ease of Use:
5 of 10
Trust:
4 of 10
Fees:
5 of 10
Security:
4 of 10

Tether Stablecoin Overview

TickerUSDT
Current Price$1.00
24H Volume$18,849,284,016.99
Market Cap$15,867,451,517.00
Circulating Supply15,838,664,270
Market Rank3
Collateral TypeFiat-Backed
Base CurrencyUSD
ExchangesKucoin, Bitfinex, Binance, Poloniex, OKEx, Gate.io, Bittrex Global, Kraken, Huobi Global, Bitmax, Binance US, KyberSwap, HitBTC, Bitcoin.com
BlockchainsEthereum
Hardware WalletsLedger, Trezor
Deposit InsuranceNo
Audit FrequencyInfrequent
Minimum Purchase100000
Minimum Redemption100000

Tether (USDT) Exchanges

ExchangeRatingPricePairs24hr Volume
Binance8.5/10$1.01149$969,936,581.89
Huobi Global8/10$1.00153$666,264,027.50
OKEx7.5/10$1.0090$437,944,274.45
HitBTC3.5/10$1.20174$294,058,907.19
Bitmax5/10$1.0985$72,288,152.05
Kucoin7.5/10$1.0190$28,489,073.85
Gate.io6.5/10$1.15201$27,435,854.75
Bitfinex7/10$1.0025$12,789,093.58
Poloniex6/10$1.0352$11,615,289.00
Kraken7.5/10$1.0017$8,001,173.15
Bittrex Global6.5/10$1.0167$7,061,149.24
Binance US6.5/10$1.0028$2,732,779.21
KyberSwap7.5/10$1.001$770.21
Bitcoin.com5.5/10$0.000$0.00

Tether (USDT) Wallets

WalletRatingTypePrice
Ledger10/10Hardware$69.99
MetaMask8/10Browser Extension$0.00
Ledger Nano M7/10Mobile Application$96.00
Trezor9/10Hardware$149.99
MyEtherWallet9/10Web$0.00
MyCrypto9/10Web$0.00
TrustWallet9/10Mobile Application$0.00

Tether Borrow Rates

PlatformAPR RateCollateral LTVLoan Amounts
Nexo5.9%15% - 75%$500 - $2,000,000
Crypto.com8%50% - 65%$1,000 - $100,000
Celsius Network3.46% - 6.26%25% - 50%$1,500 - $1,000,000
Compound0%50% - 75%$1 - $100,000

Tether Interest Rates

PlatformAPY RateLockup TermsDeposit Amounts
Celsius Network11.55%Flexible$1 - $100,000
Nexo8%Flexible$1 - $2,000,000
Crypto.com6% - 10%3 Months$25 - $1,000,000
Binance Savings2.91% - 7.00%Flexible$1 - $1,000,000
Compound354800.00%Flexible$1 - $1,000,000

Tether Stablecoin Alternatives

Rating5/109.5/108.5/10
Collateral TypeFiat-BackedFiat-BackedFiat-Backed
Audit FrequencyInfrequentMonthlyMonthly
Deposit InsuranceNoNoYes
Incorporated CountryBritish Virgin IslandsUnited StatesUnited States
Learn MoreReviewReviewReview

Pros and Cons

Pros

  • ERC20 Swap - Up until very recently, USDT was mainly transacted on its native blockchain Omni. Tether recently announced that USDT will now be swapped over to the Ethereum blockchain. This will improve transparency, transaction costs, and security.
  • Liquidity - USDT is currently the most liquid stablecoin available on the market, traded on almost every major non-us facing exchange.
  • Multiple Currencies - Tether also has EUR (EURT) and CNY (CNHT) stablecoins in circulation.

Cons

  • Regulatory Risk - Tether has long been a topic of discussion for governments and financial regulators. Recently, the NY attorney general sued Bitfinex and Tether alleging that they provided services to NY residents after they agreed to cease operations in the country. Users should be aware that is entirely possible that Tether’s legal issues will continue.
  • Transparency - Tether has not been transparent with their accounting throughout the years, causing many to doubt whether the stablecoin is actually backed 1:1 with US Dollars.
  • Redemption Requirements - A very retail unfriendly minimum of $100,000 in USDT is required for USD redemption.

Frequently Asked Questions

What is Tether (USDT)?

Is Tether (USDT) an ERC20?

Can Tether (USDT) be redeemed for USD?

Is Tether (USDT) backed 1:1 to USD?

Where can I buy Tether (USDT)?

Summary

Tether (USDT) was the first major stablecoin to enter the market and still maintains a dominant share of exchange traded volume. Hundreds of crypto assets are traded against USDT and the stablecoin can be found on almost every non-us facing cryptocurrency exchange.

Tether has remained a very popular choice with Asian based crypto investors and the recent announcement to swap the circulating supply of USDT over to the Ethereum blockchain (ERC-20s) should help to continue this trend.

To the surprise of many, Tether has survived security breaches, PR nightmares, legality issues, and accusations of operating on a fractional reserve for over 5 years.

We believe there are better alternatives to USDT. USDC, TUSD, and PAX all offer a superior stablecoin and service. Blockfer recommends that users exercise precautions with Tether until more transparent audits are made available and their pending legal issues are resolved.

Learn More Best Features

Tether Official Website

  • The best market liqudity on BTC/USDT pairs on international exchanges like Binance, Okex, and Huobi.
  • Lend USDT to margin traders with largest ecosystem of centralized exchanges lending products.
  • Great market liquidity on USDT/USD on US exchanges like Kraken, Bittrex, and Binance US.

Legal & Regulation - Facts & Figures

Legal NameiFinex, Inc.
Incorporated CountryBritish Virgin Islands
HeadquartersNew Taipei City, Taiwan
Year Founded2013
CEOJean-Louis van der Velde
Total Employees51-100
Regulators Not Regulated
Links Website, Crunchbase, Whitepaper, Twitter, Blog, LinkedIn

Methodology: How We Review And Compare

Our mission is to provide the most informative, unbiased, and useful reviews and comparisons possible for products and services in the blockchain finance industry. Assessments are powered by experts with years of relevant experience.

The stablecoins found in this category have been researched extensively by our team as part of the review process. Factors we analyze in our stablecoin reviews and comparisons include: trading volume, listings, purchase and redemption process, issuer trust, collateral type, borrow rates, interest rates, and wallet compatibility.

The Blockfer Promise: We do everything in our power to keep content up to date and in the best interests of our audience. Blockfer does not shy away from poor ratings. Products or services that do not meet our reputability standards will be rated as 'Not Trusted'. Compensation from partners does not, and will never, effect our review process.

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