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USDT is a token named Tether USD (simplified as USDT) that Tether issues based on stable value currency US dollar (USD). 1 USDT equals 1 USD.
The issue and transaction of USDT are based on Omni (former Mastercoin) protocol. It is a 2.0 currency on the basis of bitcoin. The parameters such as transaction conformation is consistent with those of bitcoin. Users can get USDT in exchanges, or by remitting dollars to the bank account provided by Tether through SWIFT, and vice versa. Furthermore, users can also exchange bitcoin for USDT in exchange.
Tether strictly follow the fund guarantee of 1:1, which means users’ bank accounts will get a dollar fund each time a USDT token is issued. Users can also inquire the fund on the platform of Tether to ensure the transparency.
Official website: https://tether.to/