Tether USDT to VeriBlock VBK Exchange

Crypto Pair Details: USDT to VBK

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.

VeriBlock VBK

VeriBlock and its novel Proof-of-Proof (“PoP”) consensus protocol is the first and only technology in the world to allow any blockchain to inherit Bitcoin’s unprecedented thermodynamic Proof-of-Work security in an entirely Decentralized, Trustless, Transparent, and Permissionless (“DTTP”) manner. Since September of 2018, thousands of PoP miners in over 50 countries have successfully done more than 6,000,000 PoP transactions to Bitcoin, accounting for nearly half of all Bitcoin transactions at peak. Over the past four years, the VeriBlock project has attracted strategic investors, partners, and advisors including Bittrex CEO Bill Shihara, Bloq Co-Founder and Chairman Matthew Roszak, Bloq Co-Founder and Former Bitcoin Core Developer Jeff Garzik, Ethereum and Decentral Co-Founder Anthony Di Iorio, and Fenbushi Capital General Partner Bo Shen.

SOURCE: COINGECKO

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