What is the use of buying USDT?

Tether is categorized as a stablecoin. The term 'stablecoin' refers to a type of cryptocurrency whose value is anchored to a stable asset. This mechanism is employed to mitigate the inherent volatility that is often associated with the cryptocurrency market.

USDT stands for Tether, a cryptocurrency built on the blockchain technology and specifically operates on the Ethereum network. This digital asset is designed with a unique feature that sets it apart from other cryptocurrencies.

BTCC is a prominent cryptocurrency exchange that offers a range of services to its users. Among the services provided by BTCC are spot trading, futures trading, and a cryptocurrency wallet. These services cater to the diverse needs of investors and traders in the cryptocurrency market.

The stable asset that Tether is backed by is the U.S. dollar. This ensures that the value of Tether remains relatively constant and does not experience the wild swings that are characteristic of other cryptocurrencies.

In terms of spot trading, BTCC allows users to buy and sell cryptocurrencies at the current market price. Futures trading, on the other hand, enables users to speculate on the future price of cryptocurrencies without actually owning the underlying asset. The wallet service provided by BTCC allows users to securely store their cryptocurrencies offline.