Tether (USDT)
USDT is one of the most used stablecoins in circulation and is the third largest cryptocurrency with a market cap of about $65 billion as of the time of writing. The coin is pegged to the USD dollar and maintains a $1 value regardless of the high volatility of cryptos in general.
Tether – USDT was launched by iFinex in 2014, just five years after the first and leading cryptocurrency, Bitcoin (BTC) was established.
It has since then served as a stable coin for both investors and traders and is currently being used by hundreds of businesses/individuals worldwide as a mode of payment. Recently, it has witnessed a very mass adoption by the gambling industry and is currently a top funding method at the best betting platform.
This writeup thus looks into why most punters now prefer it to the other traditional banking options.
Why most people prefer Tether to other payment methods
There are lots of advantages associated with the use of Tether and one of them goes back to the very premise that led to the creation of cryptos in the first place.
Unlike the highly centralized fiat currencies such as the USD, EUR, GBP, and CAD which are very susceptible to inflation, Cryptos in general are quite resistant and decentralized. Meaning there is no central authority that can claim the supreme printing power of crypto, as it is purely community owned.
Furthermore, crypto transactions are totally untraceable to any particular human identity. Therefore, it is quite difficult to know who in real life actually owns or initiates a payment via crypto.
This is because, instead of your name and address information needed to open a bank account to transact with fiat, cryptos rather use unique identification keys and digital wallets that hardly even require your real name to own one. And that’s one of its strongest points which of course, attaching it, together with several others to USDT, what you have is an excellent payment method that not only solves some of the most irritating problems associated with fiat but is also easy enough to access and use. And this where in most interesting.
USDT like any other crypto only requires you to own a cryptocurrency wallet. One of the easiest ways to do that is to register with any crypto exchange online. And once that is done, you will immediately have access to different cryptocurrencies including Tether.
Most exchanges will normally offer different methods through which you can buy tether, e.g., Visa, master cards, direct bank transfers, etc. Choose whichever is convenient for you and once the purchase (conversion) of your fiat to USDT is completed, it’s time you go betting.
Betting
Now that you have Tether in your wallet, simply register for an account at the best betting platform and select USDT as your payment option and you will be assigned a deposit address.
Head over to your wallet and initiate a transfer of the amount you wish to fund your betting account with to that address. Done! Now you have USDT in your betting account and you can enjoy the exclusive opportunities it offers, one being extreme flexibility.
To withdraw your earnings, the same process applies. Most crypto transactions are instant and only in rare situations would you have to wait for a few minutes. All these and several others put together gives us clues as to why USDT is fast becoming a standard payment option, not only in the betting industry but in other areas as well.
