Tether has had a phenomenal growth graph this past year. The ups and downs of the market have not affected the cryptocurrency that much.
But if you have wondered whether or not Tether will be a good investment in 2019, we might have the answers for you.
Being a Stablecoin, Tether has its value pegged to an external asset. In this case, it is the USD.
The market condition does not affect Tether as much as it affects other cryptocurrencies, precisely because of this feature.
This pegging or tethering, aims to add a layer of protection against the high volatility of the crypto market.
So let’s find out if you should invest in Tether in the year 2019.
You May Also Read: A Beginner’s Guide To Tether
Tether As An Investment: Worth Your Money?
Tether is currently at number 8 on the cryptocurency ranking list and is trading at $1.02
It has a Market Capitalization of $1,903,286,086 USD at the moment.
It witnessed its all time high back in July of the past year, trading at $1.32 USD. Since then it has seen steady gains and has continued climbing upwards.
However it has witnessed a few dips along the way, but nothing too drastic.
The market in general has seen a downward slump but Tether has consistently maintained its position.
However, before deciding if the crypocurrency is actually worth investing in, let’s take a look at what it offers in terms of an asset.
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Should You Invest In Tether?
The best part about Tether is that it is a stablecoin. Having its value pegged on the USD, gives it an extra layer of protection.
So if you are worried about market volatility, Tether might be the ideal choice for you to invest in.
Since the token has been created in a way that it always holds an equivalent value of 1 US dollar, it can be used to transfer money to anyone across the network.
It can be very conveniently withdrawn in fiat currency as well, which means you can cash out anytime you want without any hassle.
Its market popularity is definitely on the rise. Santiment a crypto-focused data analytics firm recently declared it the best stablecoin.
It has emerged as one of the most heavily traded cryptocurrencies in the market and will continue to remain so.
You May Also Read: A Beginner’s Guide To Stablecoins
So, if you ask me, Tether seems like a very good investment to make in 2019. Market experts predict a steady growth for the stablecoin.
It might be worth considering.
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