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TagsWhat is the meaning of USDT on Binance.com in the context of cryptocurrency?
Fruit DuckDec 17, 2021 · 3 years ago1 answersCan you explain the significance of USDT on Binance.com in relation to cryptocurrency? What role does it play and how does it affect the trading experience on Binance.com?
1 answers
- USDT, or Tether, is a stablecoin that is widely used on Binance.com. It is pegged to the value of the US dollar, which means that 1 USDT is always equal to 1 USD. This stability makes USDT a popular choice for traders who want to hedge against the volatility of other cryptocurrencies. On Binance.com, USDT is used as a base currency for many trading pairs, allowing users to easily trade between different cryptocurrencies. It provides a stable value that can be easily converted back to other cryptocurrencies or fiat currencies. USDT on Binance.com plays a crucial role in providing liquidity and stability to the cryptocurrency market.Dec 17, 2021 · 3 years ago
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