Stablecoin Watch: How Safe Is Tether? Still a Good Investment?

what is tether

Standardisation with stablecoins such as Tether ensures that a particular cryptocurrency’s liquidity isn’t split up into multiple regional trading pairs like BTC/EUR, BTC/USD, BTC/AUD, and so on. In the highly unstable Cryptoverse, Tether offers a standard unit of account that is harmonious with the rest of the digital ecosystem. The British Virgin Islands-based corporation known as Tether Limited is the one responsible for issuing Tether and advance it’s development. Understanding the cryptocurrency’s turbulent history will put you in a better position to speculate on whether the price will rise or crash. Formed in November 2015, Tether first went by the name Realcoin. However, the original concept of asset-based cryptocurrencies hit the mainstream with the white paper ‘Mastercoin’ by J R Willet in 2012. Tether is popular with overseas investors who do not possess a USD bank account, as well as traders who do not wish to withdraw cryptocurrencies such as Bitcoin during high periods of volatility.

what is tether

Another distinction is that “Tether isn’t designed to necessarily make money but rather be a stable store of value,” he adds. “The idea is that 1 Tether can always be traded what is tether for $1, regardless of market conditions,” says Steve Bumbera, chief operating officer of Many Worlds Token. The Forbes Advisor editorial team is independent and objective.

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As has become clear, the value proposition of both USDT and EURT rests entirely on the assurance that Tether will redeem the tokens for the cash equivalent at any time. If Tether Limited was hacked or tricked out of significant amounts of money, this assurance could not be upheld. Finally, wireless tethering tends to take a lot out of your smartphone’s battery. Maintaining a constant and intensive connection to the internet, and also to your tethered device, consumes a lot more power than regular smartphone tasks.

Still, USDT is not the same as USD, and they are not money or legal tender. While the company purports that it “never once failed to honor a redemption request from any of its verified customers” to date, nothing in investing or cryptocurrencies is guaranteed. Crypto traders use Tether to provide steady, reliable liquidity to get in and out of other cryptocurrency trades without facing unpredictable losses from volatile price changes. It has become true digital money for the digital age, offering global, fast, and secure payment solutions. The official circulating supply of Tether at the time of making this post is 67.96 billion USDT while the total supply is 70 billion USDT. Its biggest markets include Binance, Huobi Global, KuCoin, Kraken, and This is the question most people are eager to get an honest answer to.

What is Tether? The only cryptocurrency RISING as bitcoin, Ripple and Ethereum crash

Three lets all its new Pay Monthly phone and SIM-only customers use tethering as part of their plans. If your plans has data limitations, any Personal Hotspot usage time will come out of your monthly allowance. However, if you tether via USB, remember your phone will charge up via your laptop or PC.

  • To keep its value stable and prevent the volatility that is prevalent in the market, the team behind Tether keeps a reasonable bank reserve to cushion the effects of market factors.
  • Tether, the world’s most prominent stablecoin is under scrutiny by investors.
  • The cryptocurrency space is seldom without drama, but the 25th of April 2019 was special even by the industry’s inflated standards.
  • But Tether remains the biggest player by far, accounting for more than 50% of the market and essentially functioning as the crypto world’s reserve currency.
  • Likewise, Vodafone includes tethering in its contracts as standard and won’t charge you more unless you go over your monthly data allowance.

Investing in cryptocurrencies is essentially gambling and there are no guarantees that you will see what you pay in go up in value. You need to make sure you know the risks and can afford to lose the cash, and never invest in something you don’t understand. We explain all you need to know about the cryptocurrency and its price. The cryptocurrency, now valued at roughly $3 billion , is knee-deep in trouble and it’s hard to make a case for its defense. Tether has since filed a motion to dismiss the allegations on the grounds that, as a corporation based overseas, the Attorney General lacks jurisdiction over both Bitfinex and Tether. We will see how the case develops and the outcome will resonate around the entire cryptocurrency space.

Crypto and NFT Slang: HODL, WAGMI, NGMI, GM, and More

It refers to the prisoner’s dilemma, where both parties are better off cooperating instead of defecting and receiving a (-3,-3) payout. The meme was popularized by Olympus DAO to visualize the benefits of staking the OHM token. It was later copied by other protocols, replacing the with emojis like (🌳,🌳).

The pizzas cost Laszlo $41, and today those two pizzas are worth closer to $620 million. This magical wizard was actually an idea on a reddit thread for an ad for the Bitcoin subreddit to gain more followers. User Mavensbot created the ad in MS Paint and the rest is history. Shortly after the ad went live, Bitcoin climbed above $1,000. Vitalik went on to dream up Ethereum in 2013 and eventually launch it in 2015 with a team of developers.

wagmi meaning

If you want to truly understand and get deep crypto trends, following crypto and NFT-based social media communities is essential. To do this effectively, you’ll need to understand exactly what people mean when they post, and to do that, a good understanding of crypto slang is a must. As one might think, GM is often used in the beginning of the day, especially to showcase a positive industry statistic about crypto, such as an increase in the price of a specific cryptocurrency, token, or NFT. This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). This article is intended to be used and must be used for informational purposes only.

The Importance of Transparency for Crypto Exchanges

Around 2020, WAGMI began to see use inside crypto and meme stock communities as a way to show unification, with the opposite phrase, NGMI, finding use when dips occur. GM can also be used when a new member of the NFT or crypto community wants to introduce themselves on a platform like Twitter, Discord, or Telegram. As far as we know, GM was first used in the crypto and NFT community during Bitcoin’s bull run in November 2021, where the cryptocurrency reached a staggering price of almost $70,000. In some cases, the promoters of a specific NFT project will say that those who invest are NGMI, as shown in the tweets below. HODLing also helps investors avoid reacting greedily or fearfully, and prevents them from attempting to buy low and sell high, since most investors are not successful at timing the market. Many hardcore HODLers strongly believe that crypto is the future of money and that cryptocurrencies will eventually co-exist or supplant traditional fiat currencies as the world’s units of exchange.

The term HODL has become a popular meme within the crypto community, and is often used as a rallying cry for those who believe in the long-term potential of digital currencies. Find out more about the cultural movement and social token created for GM, or good morning in short, meme greeting on social media — especially popular on crypto twitter. Hodling is a popular strategy amongst cryptocurrency investors and refers to holding onto your digital assets even during extreme price changes in the market. Many investors believe that the market will eventually correct itself and that selling during a crash will only result in lost profits. While there is no guarantee that the market will recover, many investors have had success by holding onto their assets during a crash and waiting for the market to rebound.

wagmi meaning

As the crypto space moves at breakneck speed, sometimes even fairly new concepts are considered « boomer. » For instance, Bitcoin is sometimes mockingly referred to as Boomercoin . People that are overenthusiastic about a coin’s prospects are labeled as moonbois. Going to « the moon » refers to a surge in price, either through marketing efforts or a fundamental increase in value. YouTube also has various videos on the $GM token and the GM WAGMI project. These are primarily made by influencers or people who hold the token and aim to fuel a price run of sorts.

What is HODL slang?

Celebrities and high-profile accounts were adding laser eyes to their profile picture on Twitter, even El Salvador’s President got involved. Has anyone ever seen these emojis strung together after an account on Crypto Twitter? This is Ultrasound Money, a branded meme that has been able to change the perception of ETH over Twitter.

wagmi meaning

After Wallstreetbets had their come up – large groups including them and 4chan realized they could get in on the pump with memecoins. Where in the US regulators and the SEC were able to halt trading on stocks, there was almost nothing to be done with crypto tokens. Dogecoin was created as a joke by Jackson Palmer and Billy Markus in 2013. Using the image of the internet-famous Shiba Inu, Kabuso as its logo. The Shiba Inu has since taken off as a staple meme of the crypto space. Science Guy correctly predicted price breakouts nearly to the exact day.

In his tweet below, Ran essentially expresses an opinion that Solana will outperform Ethereum in the 2021 crypto bull market and labels a seller of Solana as NGMI. Dangiuz (Leopoldo D’Angelo) is an artist that is active in the NFT space. In his tweet below, Dangiuz makes reference to the large number of « over-hyped » projects which are, unfortunately , prevalent in the NFT world.

NGMI Example 1: Promoting One NFT Project Over Others

It is a sales and marketing tactic that relates to spreading uncertainty and misinformation about a product to drive it out of business or reduce its price. In the cryptocurrency space, FUD relates to negative news about cryptocurrencies like government regulation, opponents speaking out about crypto, or falling prices . Crypto advocates often argue that traditional finance and the mainstream media try to spread FUD about crypto to complicate its adoption. GM is an abbreviation of good morning, and has caught on in the crypto twitter space, although it is unsure when the phrase has started.

  • Ed actively participates in and follows the fast changing NFT scene.
  • We are not aware of where this or any of the other misspellings come from, but both come with their own memes.
  • For instance, The Angel Investoooor is being made fun of for the group’s perceived excessive use of humble-bragging, educatory tweets, and risk diversification.
  • Like WAGMI and NGMI, the project “Operation FUD” directly uses the word FUD in their title, most likely as an ironic critique of “real” Fudders.
  • Be strong together, be kind to one another, and share alpha to your frens.

These include the P2P crypto exchange HODL HODL, as well the crypto news site The Dail Hodl. — If someone says that something is “probably nothing,” it is definitely something and is a tongue-in-cheek way of calling attention to some big news. As a verb, it refers to “apeing” into something, which is buying a lot of something on a whim or without doing much research beforehand. NFT communities have adopted many terms and created some more of their own. MyCrypto is an open-source tool that allows you to manage your Ethereum accounts privately and securely.

What Makes GM WAGMI Unique?

While I wouldn’t label someone NGMI for taking such a strategy, the tweet does show that there are many differing opinions within a community and sometimes these opinions can be expressed strongly. NGMI means you will not be successful due to a bad decision or poor judgement. For example, if someone sells an NFT at a loss while others believe in the project’s long-term success, the seller may be judged as NGMI. In the first tweet, Twitter user and digital artist Emil MTO promotes one of his latest NFT artworks and encourages fans to drop a gm to contact him.

Because maybe the real money is the frens we made along the way. These expressions are a reflection of the current state of the NFT industry – an industry that takes a lot of conviction to participate in; where success is no guarantee; but also where rewards can be generous. Where NGMI is strongly negative, WAGMI is strongly positive; where NGMI is exclusionary, WAGMI is inclusionary.

Only people who could afford to purchase a ticket to the Bitcoin Citadels were able to survive. Hence now if you ever hear of a Citadel in Crypto, it pays homage to the meme. Buckle up for this roller coaster of a journey – see you on the other side. The Ethereum Network and the Decentralized Applications that it houses are still very new; the Genesis Block (or Block #0) only happened six years ago . They can often be low-quality, but they’re still an integral part of the growth of Ethereum, Cryptocurrency, and even Meme Stocks.

For instance, critics may refer to the collection or its collectors with NGMI if they didn’t get the chance to invest in it early. Other accusations of NGMI behavior may simply be in-group/out-group bias, or even jealousy about an NFT collector or collection that has recently been a runaway success. Put up an NFT for sale below the floor price of the collection . Constantly changing the sale price of an NFT due to insecurity about its value.

In many cases, NGMI will be used against a certain group of people, such as those promoting a project that some see as a failure. In a broader sense, hardcore NFT fans may use NGMI against critics of NFTs. Whitelist unsavory or offensive and prefer the word “allowlist,” which also refers to an NFT presale list. — To right-click on an image of an NFT and save it to your computer. Right-clicking and saving is a common retort from NFT haters, who believe that NFTs are just JPGs and do not believe in the value of blockchain-based verifiable ownership. Floor refers to the price of the lowest priced for-sale NFT in a collection.

With the refreshing coolness that crypto embodies, we have been introduced to older terms like HODL, FUD, and DYOR, and now to newer terms like NGMI, WAGMI, and GM. You can use the expression ‘WAGMI’ in text messages between friends to give them support and hope for the future. You could use ‘WAGMI’ in your cryptocurrency message group to describe how you will be rich when the new financial system arrives.

If you’re using ‘WAGMI,’ you’re usually a cryptocurrency enthusiast, a right-wing extremist, or a frequent user of message boards like 4Chan and Reddit. ‘We’re All Gonna Make It’ refers to making it through a cryptocurrency bear market, a bad presidency, or life in general. Did a fellow crypto enthusiast message you with ‘WAGMI’ after you complained about the bear market? WAGMI / NGMI, also known as We’re All Gonna Make It or Not Gonna Make It, is a catchphrase from 4chan’s fitness board /fit/ that was popularized by the icon and bodybuilder Zyzz. Since its inception, it’s been used in 4chan and adjacent communities to show comradery and a willingness to keep going in life.