SimpleFX Adds Tether AccountsOne of the fastest-growing global margin trading apps has just added Tether (USDT) accounts.
SimpleFX decided to integrate with the world’s leading stablecoin answering to the multiple requests by the trading community. Tether is the eighth cryptocurrency supported by SimpleFX.
Tether is a widely used alternative to fiat money. The Tether accounts are especially attractive for people who still use fiat currency accounts, because they don’t like the volatility of Bitcoin, Ethereum, Litecoin or Monero. Tether is a perfect solution since the volatility on the currency pegged to USD at 1:1 is reduced to a minimum. You don’t have to worry that the funds you keep on your SimpleFX account lose any value overnight.
Some of the SimpleFX traders used to cash out the profits they made on margin trading with their cryptocurrency accounts because they didn’t want their deposit to lose value. This was especially common in 2018 when cryptocurrencies lost value across the board. At the moment it is more likely that you gain overnight keeping funds at your SimpleFX cryptocurrency accounts as the market is trending up, especially in the eve of the Bitcoin halving.
Nevertheless, the experience of 2018 made cryptocurrency holders and users seeking a stable alternative. Volatility is not a problem with Tether (USDT). Stablecoins address the important issue of excessive volatility of cryptocurrencies. They combine all the advantages of crypto: safety, anonymity, decentralized network, transparency, but at the same time are pegged to one or more dominant fiat currencies.
Apart from your SimpleFX account, you can keep Tether on popular hardware wallets such as Ledger or Trezor.
The Tether network is expanding dynamically. Apart from SimpleFX, the payment system was recently adopted by the world’s leading adult content site Pornhub. Site’s contributors had many problems with payouts using PayPal, the global leader in traditional payments. According to Pornhub representatives, this was the reason behind switching to Tether.
Tether is issued by Tether Limited. The network has recently introduced Tether Gold (XAU₮), which represents ownership of one troy ounce of gold, at the moment worth about $1584. The product is available on the Ethereum blockchain.
If you haven’t tried SimpleFX yet, do it now. It’s a margin trading app designed for all screens (desktop, tablet, mobile). They have no minimum deposits and support cryptocurrency accounts. If you are new to margin trading, you can use the SimpleFX social trading features and try to mirror the most successful traders. Go to SimpleFX now.