What is USDT and How is it Different than USD?

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Video Transcript:

What is USD Tether, and how is it different from the US dollar? USDT is a form of cryptocurrency for the US dollar. In order to trade cryptocurrency and use algorithms that trade crypto markets, you’ll first need to convert your US dollar to USDT. You may hear of similar equivalents like USDC, which serve the same purpose but only for Coinbase.

As a rule of thumb, one US dollar is one USDT. So if you want to trade 10,000 in crypto, you will want to convert $10,000 to 10,000 USDT. The majority of EndoTech strategies will require you to begin with USDT. To note, there are some cross-strategies such as ETH/BTC Beta that trade Bitcoin versus Ethereum. In this case, you will need to have your balance in Bitcoin.

Thank you, and wishing you continued investing success.

Endotech Crypto AI