Tag: Is USDT safe?

USD are dollars that are held directly in a bank account. USDT are coins that issued by Tether which some exchanges will accept, but the money doesn’t go into the exchange’s bank account and to the exchange, it’s just another coin. Some exchanges prefer USDT.

Tether (USDT) is a blockchain-based cryptocurrency whose tokens in circulation are backed by an equivalent amount of U.S. dollars , making it a stablecoin with a price pegged to USD $1.00.

Depositing USDT on Kraken is as easy as transferring it to any cryptocurrency address. If instead you want to sell USDT for cash (like USD or EUR), you’ll need to send us identification and proof-of-residence documents .