Almost everyone who buys Bitcoin on exchanges has to deal with Tether. This is a special stablecoin whose value is tied to the US dollar (USDT), euro, gold, Chinese yuan, Japanese yen.
The connection with Bitcoin exists because the Tether protocol, Omni Layer, is a superstructure on its blockchain. Thanks to Omni, access to smart contracts, currencies, peer-to-peer platforms is opened for direct coin exchange without intermediaries.
Tether (USDT) exchange rate
USDT appeared in July 2014 as a mechanism designed to eliminate the inconvenience of cryptocurrency volatility: tying the rate to the dollar was supposed to contribute to this. To avoid problems with the token, convert to Tether and avoid losses when the rate drops. In the early days, the USDТ/USD ratio did not always maintain 1:1. The greatest decline was recorded in March 2015 when USDT was worth only $0.57.
The project was getting on its feet, and in July 2018, the coin was worth $1.32. Since then, the situation has normalized, and fluctuations in the rate have become of interest only to traders. Stabilization became a consequence of the growth of the token's market capitalization. Since 2020, it has increased from $2 billion to $37 billion.
The future forecast - the prospects are bright:
- Bitcoin is considered by investors to be the most reliable asset;
- USDT is now used by the Ethereum blockchain, which has led to a jump in transaction speed and significantly reduced commissions;
- The company has achieved a peaceful settlement of the investigation conducted by the New York prosecutor's office.
It is difficult to imagine the sphere of cryptocurrency turnover today without USDТ.
If you are interested in cryptocurrency rates, see here https://matbea.com/charts.
Types of Tether (USDT) wallets
If you are interested in USDT or other Tether products, you will need to create a wallet. You can use the company's offer and use the one on the official website. It has a disadvantage - you cannot make more than one transaction during the day. If this condition suits you, buy USDT and let it lie until it is needed; other wallets are unnecessary.
If you intend to manage this and other coins, you can use different wallets:
- Hardware;
- Paper;
- Web;
- Desktop;
- Mobile.
Best Wallets for Tether (USDT)
Almost everyone who buys Bitcoin on exchanges has to deal with Tether. It is a special stablecoin, whose value is tied to the US dollar (USDT), the euro, gold, the Chinese yuan, the Japanese yen.
The connection to Bitcoin exists because the Tether protocol, Omni Layer, is a layer on top of its blockchain. Thanks to Omni, access is opened to smart contracts, currencies, P2P platforms - for direct coin exchange without intermediaries.
Tether (USDT) Rate
USDT appeared in July 2014 as a mechanism designed to eliminate the inconvenience of cryptocurrency volatility: tying the rate to the dollar was supposed to contribute to this. Predict problems with the token, transfer to Tether and avoid losses when the rate drops. In the early days, the USDТ/USD ratio was not always maintained at 1:1. The greatest drop was recorded in March 2015, when USDТ was only worth $0.57.
The project got on its feet, and in July 2018, the coin was worth $1.32. Since then, the situation has stabilized, and rate fluctuations have become interesting only for traders. Stabilization has been a result of the token's market capitalization growth. Since 2020, it has grown from $2 billion to $37 billion.
The outlook for the future is bright:
- Bitcoin is seen by investors as the most reliable asset;
- USDT now also uses the ETH blockchain, which has resulted in a significant increase in transaction speed and a substantial decrease in fees;
- The company has achieved a peaceful settlement of the investigation conducted by the New York prosecutor's office.
It is difficult to imagine today's cryptocurrency sphere without USDT.
For those who are interested in cryptocurrency rates, see here: https://matbea.com/charts.
Tether (USDT) Wallet Types
If you are interested in USDT or other Tether products, you will need to create a wallet. You can use the company's offer and use the one on the official website. Its disadvantage is that you cannot make more than one transaction a day. If this condition suits you, buy USDT and let them lie until you need them, other wallets are not necessary.
If you intend to handle this and other coins, you can use different wallets:
Hot Tether (USDT) Wallets
If you prefer active management of USDT, create a wallet:
- Exchange. Having an account is enough to carry out operations; it opens up opportunities for depositing and staking. For this, you open up the exchange's access to private keys, mnemonic phrases, passwords, and it must cooperate with (inter)governmental structures;
- Desktop. The full version of the blockchain is downloaded to the computer from the official website;
- Mobile. You can use a lightweight version, which takes up less space, transactions will be faster, and it can be used from a smartphone;
- Online. The convenience of managing balances is combined with acceptable storage security. A cautious user who operates with large sums may not trust the reliability of such a wallet.
Hold relatively small amounts in different cryptocurrencies, it is more convenient to use a multi-currency wallet. For large USDT savings, it may be worth setting up a separate wallet.
Cold wallets for Tether (USDT)
If you do not trust hot storage, use a hardware wallet for USDT. You buy a stylish and compact device, learn how to use it, connect to the internet if you plan to check the balance, buy/sell/send coins. The option of storing the address and private keys on a paper sheet seems to have lost its supporters. The inconveniences and risks of this way of managing a wallet are too great.
Matbea Multi-Currency Wallet
A unique solution is offered by the matbea.com service - to create a wallet directly at the exchange, equipped with corresponding functions.
A cryptocurrency owner inevitably uses the services of online exchanges, including matbea.com. As a rule, in order to carry out operations, they stop at one exchange:
- Long-standing, with a reputation;
- Always available;
- So that you can exchange popular moments through familiar payment systems, bank cards;
- With technical support that helps, not takes time;
- With a working multi-level affiliate program. On Matbea, partners receive a percentage of each transaction of referrals - clients they brought to the service. You can have a source of passive income.
Create a multi-currency wallet on Matbea, and you will no longer need to pay a commission for internal operations.
Cryptocurrency wallet security factors
The special advantages of a wallet created on matbea.com make it particularly attractive and reliable:
- Only the owner has access to private keys;
- You can manage balances from anywhere. Even after the service ceases to exist;
- To start working, you need to pass a three-factor authentication (using SMS, PIN code, email message);
- The hacking of the service, which is highly unlikely, does not pose a threat to the owner of the funds - they are stored in isolation).
How to Install a Local (Cold) Tether (USDT) Wallet
To create a wallet on the tether.to platform, you will need to register. Click "Sign Up" on the main page and proceed to create an account. After registration, two-factor authentication is activated and a verification method is chosen. The code received must be entered quickly. After authentication, it's time to use your smartphone. The provided wallet address for USDT opens in the "Add Funds" tab.
If you do not prefer this option, you can download a "thick" or "thin" local multi-currency wallet. A desktop wallet requires a lot of space on the hard drive. The process of downloading, installing, initializing, and synchronizing takes several hours but may take up to a day. It's easier to install a lightweight version, which opens up opportunities for more efficient control and disposal of funds.
How to Fund Your Wallet
On the Matbea service, funding is performed in the Operations section. The details depend on where you are transferring rubles from to buy USDT, whether it's from a bank account or a card. Once you have passed the simple verification, you can start exchanging. The service supports about a dozen popular electronic payment systems and cards from major Russian banks. Funding should not take more than 6-7 minutes.
How to Send Coins to Another Person
To transfer coins, you need to have the recipient's address. When performing the operation, you also specify the currency, numerical value, and commission level (which affects the transaction speed). It's important to double-check the entered data before sending to ensure that the coins do not disappear forever or the amount is incorrect. The matbea.com service takes no more than 15 minutes to complete transactions.
Why Use ERC20-Compatible Tether (USDT) Wallets?
The ERC20 problem for USDT owners arose quite recently. This happened because the company started using this standard after switching to the Ethereum blockchain. The presence of Tether in the protocols of the two largest blockchains forces coin holders to additionally verify addresses when sending funds. To check, it is enough to look at the first digit of the address. Transferring USDT from one network to another is impossible, and exchange is also not allowed.
How to Restore Your Tether (USDT) Wallet
After installing the Tether wallet, a backup is created. Recording the mnemonic phrase and password that will be encrypted in the URL will help with a calm restoration. After downloading and installing the latest version of the wallet, a link to the backup is activated, and the password or mnemonic phrase is used for restoration.
If You Forgot Your Tether (USDT) Wallet Password
Losing your password due to negligence in backing up or force majeure is entirely possible. You can recover it in several ways:
- Try common options. For this, you can use the help of a password guessing service;
- Try to restore the wallet using the wallet.dat file or its counterpart or through the console;
- Use special programs to recover wallets or passwords.
Most modern wallets provide easy ways to solve such a problem.
If You Deleted the Wallet Data Folder from Your Computer (for Desktop Wallets)
The disappearance of the USDT wallet data folder from your computer screen should not cause panic. First, check the recycle bin. If the files are found, click to restore them. If more than 30 days have passed since the disappearance, searching in the recycle bin will not yield results. You will have to use file recovery utilities. Download and run the program, and after some time, you will get a result. Free programs work satisfactorily, quickly, and with good quality.
If the file recovery utility does not help, there is another option with finding a specialist. This is a quite risky step:
- The services will not be cheap;
- By gaining access to the hard drive, the specialist can use your confidential information.
To avoid such situations, it's enough to perform backups and store passwords, keys, and mnemonic phrases.
Create a multi-currency wallet on the matbea.com service and ensure the security of private keys. You can conveniently check balances and manage funds at any time (with an internet connection).
