Tether USDT to Bitcoin Gold BTG Exchange

Crypto Pair Details: USDT to BTG

Tether USDT

Tether (USDT) is a cryptocurrency with a value meant to mirror the value of the U.S. dollar. The idea was to create a stable cryptocurrency that can be used like digital dollars. Coins that serve this purpose of being a stable dollar substitute are called “stable coins.” Tether is the most popular stable coin and even acts as a dollar replacement on many popular exchanges! According to their site, Tether converts cash into digital currency, to anchor or “tether” the value of the coin to the price of national currencies like the US dollar, the Euro, and the Yen. Like other cryptos it uses blockchain. Unlike other cryptos, it is [according to the official Tether site] “100% backed by USD” (USD is held in reserve). The primary use of Tether is that it offers some stability to the otherwise volatile crypto space and offers liquidity to exchanges who can’t deal in dollars and with banks (for example to the sometimes controversial but leading exchange Bitfinex). The digital coins are issued by a company called Tether Limited that is governed by the laws of the British Virgin Islands, according to the legal part of its website. It is incorporated in Hong Kong. It has emerged that Jan Ludovicus van der Velde is the CEO of cryptocurrency exchange Bitfinex, which has been accused of being involved in the price manipulation of bitcoin, as well as tether. Many people trading on exchanges, including Bitfinex, will use tether to buy other cryptocurrencies like bitcoin. Tether Limited argues that using this method to buy virtual currencies allows users to move fiat in and out of an exchange more quickly and cheaply. Also, exchanges typically have rocky relationships with banks, and using Tether is a way to circumvent that. USDT is fairly simple to use. Once on exchanges like Poloniex or Bittrex, it can be used to purchase Bitcoin and other cryptocurrencies. It can be easily transferred from an exchange to any Omni Layer enabled wallet. Tether has no transaction fees, although external wallets and exchanges may charge one. In order to convert USDT to USD and vise versa through the Tether.to Platform, users must pay a small fee. Buying and selling Tether for Bitcoin can be done through a variety of exchanges like the ones mentioned previously or through the Tether.to platform, which also allows the conversion between USD to and from your bank account.

Bitcoin Gold BTG

Bitcoin Gold hopes to change the paradigm around mining on the Bitcoin blockchain. According to the founders, the Bitcoin blockchain has become too centralized. Large companies with huge banks of mining computers now mine the vast majority of Bitcoin. For the founders of Bitcoin Gold, having large companies control the Bitcoin network defeats the purpose of a decentralized ledger and peer-to-peer currencies. In response, they’ve initialized the Bitcoin Gold project. It’s an alternate fork of the Bitcoin blockchain that implements changes that make mining more equitable. The goal of Bitcoin Gold is to create a network where anyone can become a miner with only basic hardware. As a result, Bitcoin Gold mining would be spread among many miners, instead of a few large companies.There have several features such as decentralization. Bitcoin Gold decentralizes mining by adopting a PoW algorithm, Equihash-BTG, which cannot be run on the specialty equipment used for Bitcoin mining (ASIC miners.) This gives ordinary users a fair opportunity to mine with common GPUs. Besides, there have fair distribution. Hard forking Bitcoin’s blockchain fairly and efficiently distributes 16.5 million BTG immediately to people all over the world who have interest in cryptos. Other methods, such as creating coins with a new genesis block, concentrate ownership within a small group. There also have a replay protection. To ensure the safety of the Bitcoin ecosystem, Bitcoin Gold has implemented full replay protection and unique wallet addresses, essential features that protect users and their coins from several kinds of accidents and malicious threats. Most new mineable cryptocurrencies involve ASIC-resistant hashing algorithms, and it’s becoming something of an industry standard to promote decentralization. In that respect, Bitcoin Gold holds a lot to be excited about. At its core, it’s about transitioning the Bitcoin network to more decentralized mining. However, as we saw above, there’s not much evidence that the current Bitcoin mining system is broken. There have been some small complaints, and it’s not ideal that the network is so centralized. Nevertheless, miners on Bitcoin have a lot to lose if they wield their power too aggressively. There are also new entrants to the Bitcoin mining community that are decentralizing control from a few key ASIC farms. The general consensus from Bitcoin experts is there’s not enough new in Bitcoin Gold to warrant an independent investment. While it certainly doesn’t hurt to hold onto your free BTG that you receive as a result of the fork (if you owned Bitcoin before Oct 24), wait until the dust settles before deciding whether to buy more.'

SOURCE: COINGECKO

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