Tether Sports Betting 2020

Tether Crypto Review

In this Tether review you will now everything you need to know about this crypto. So Tether is a cryptocurrency that is unique in the way that it works and how it is valued. It was established in 2015, and its name comes from the fact that it is tethered to the value of the dollar. It is encrypted like all other cryptocurrencies and works using Litecoin’s blockchain technology. This means the currency is decentralized, which is the main advantage of cryptocurrencies over regular currencies.

What makes it unique?

Tether’s reserve system as real cash on a 1:1 basis. This means that the market value of all Tether coins is always held in real money in a reserve system. This sets it apart from other cryptocurrencies, which are purely digital. This presents the advantage of the currency being tied to the US dollar, resulting in a much more stable cryptocurrency. This makes Tether known as a stablecoin, and we will discuss the advantages of this status below.

Advantages

The main advantage that Tether presents to bettors is its stability. Its value is tied to the value of the US dollar due to its 1: 1 ratio of digital: real currency being held in reserves. Unlike coins such as Ethereum and Bitcoin, Tether’s value will not fluctuate to the same extent as is common with cryptocurrencies. If you bet using other cryptocurrencies, you will need to treat it as an investment as other people across the world will be trading the currencies on a forex exchange, making them very volatile.

Although the US dollar is also traded through forex exchanges, its value does not fluctuate nearly as much as the values of some cryptocurrencies. This means you will not have to worry about any USDT deposit in your betting account rapidly losing value overnight.

The other main advantage of using Tether when betting is the encryption factor that is common across all cryptocurrencies. This means your money is encoded within a decentralized system, safe from hackers. It can also be much faster to make transactions using Tether than fiat currencies, so that presents an incentive for sports bettors to use Tether instead.

Disadvantages

One of the disadvantages of Tether is the fact that it is relatively new, and not many people even know about it never mind use it. This also means that there are not many USDT betting sites available that support this crypto. This can make it difficult to find a suitable site in your region that supports this cryptocurrency, but there are still some available.

The cryptocurrency sports betting sites are also usually not regulated like normal sports betting sites, which means that they can make use of the anonymity that goes along with cryptocurrencies. However, this also means there is the aspect of security that may be of concern, and you may run into problems if you are not careful. As with other forms of cryptocurrency sports betting, it is key to do your own research to make sure that you find a reputable betting site.

How is Tether Used for Sports Betting? Is it Safe?

The encryption used within the Tether cryptocurrency itself means that your funds are secured behind extra layers of protection. However, in terms of the safety of your Tether coins when you send them to your chosen sports betting site, there really is no regulation and thus it can be a risky endeavour.

There are a lot of cryptocurrency-specialised sports betting sites available on the internet, and so it is really just a case of finding one that has all of your favourite sports on it and accept Tether payments as a method.

Where to buy Tether Coin cryptocurrency?

You can get Tether from a compatible exchange, but as Tether is relatively new there are not that many to choose from. These exchanges are where you can buy and sell your Tether coins for real currency, and it is the way that you will get your hands on the Tether coins that you wish to Tether deposit into your chosen sports betting account. Also in these exchanges, you can exchange not only USDT to dollar or USDT to EUR, USDT to GBP but also you can pair Tether to Bitcoin, Ethereum or Litecoin cryptos (USDT to BTC, USDT to ETH, USDT to LTC).

From there, it is a case of communicating with your chosen sports betting site and usually sending a transfer request. Then, your Tether coins should be sent to your chosen betting site relatively quickly, and then you can get started betting on all of your favourite sports with Tether.

There are also not that many betting sites that support Tether coins as a payment method, but as time goes on more and more sports betting sites are seeing the advantages of offering their customers Tether as an option.

Conclusion

Tether is a relatively new cryptocurrency, but it is unique in the fact that is a stablecoin. A lot of cryptocurrency sports betting sites are beginning to see the advantages of offering their customers stablecoin options as an alternative to using fiat currency, and so it is likely that over the coming years Tether will become a more popular choice. However, at the moment sports betting sites that accept Tether as a betting currency are relatively hard to come by, and it can be difficult to gauge whether or not they are safe and secure. But if you are looking to try out cryptocurrency betting, and don’t like the idea of the market volatility that goes along with other currencies of this type, Tether is definitely a cryptocurrency to keep your eye on in the future.

Tether (USDT) crypto converter

Use our Tether calculator, where you can easily convert 1 Tether to USD. This converter can convert 17 most popular currencies in the world. For today 1 Tether USDT to USD worth around 1$, 1 USDT to euro worth 0.88€, 1 Tether to GBP is worth 0.80£, 1 USDT to AUD is worth 1.44$. But prices changes every second, so you can do your math with our Tether price converter. Our Tether price prediction for 1 year, what Tether price will be in same level as now. But Tether prediction for 5 years look great.

If you want read articles about crypto betting or to know important crypto news, you can read our crypto news category.