The ELI5 from Reddit:
Tether currencies are cryptocurrencies that are tethered to the value of a fiat currency. USDT or US Dollar Tether is a 1:1 value ratio but way easier to move around and use for trading than standard dollars.
The Tether system issues 1 Tether coin for every dollar that is spent on it. There's no limit to the number of coins that can be minted and…
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