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These are the online casinos in Canada that accept USDT Tether.
Tether USDT is a cryptocurrency recognized for being one of the ‘stablecoins’ (stable) which has also gained great popularity and capitalization in the current market. In it we can find a financial tool that can interact with blockchain networks and whose main characteristic is that its value is linked to a fiat currency that has parity with it.
To explain it more simply, this is a digital representation of physical money, in this case the dollar – hence the term USDT.
One of the main differences that can be found between Tether and other cryptocurrencies such as Bitcoin, is that this payment method does not define its value through speculation (buying and selling), but it’s anchored to other assets. This makes for less price fluctuation, whereas other currencies can fluctuate a lot in a short amount of time.
Tether works practically like a cryptocurrency, but it has some features that make it totally different. The most important of them is that its issue depends entirely on a centralized entity, that is, it depends on the decisions of a company, Tether Limited, and its board of directors.
While other cryptos only exist through the blockchain, each Tether is pegged to an original coin. That is, if a user deposits dollars to buy his Tether, it arrives in the company’s account so that his creation is protected. Of course, the currency also has its cons, as control depends entirely on the issuing company, it is not possible to know whether transactions will always be carried out efficiently.
What is the history of Tether?
Tether emerged in 2013, when Block Pierce e Craig Sellars created a protocol that interacted with Bitcoin, called Mastercoin, and which intended to expand the opportunities offered by the most popular cryptocurrency until then.
Since then the project evolved into Realcoin and later Reeve Collins joined as a founding member to start working on Tether.
From the beginning there was a promise that in the technical document of each tether, it would be fully anchored by the original currency. From the beginning and as mentioned above, the high volatility of cryptos was something everyone was hoping to overcome.
What differentiates Tether from Bitcoin?
As previously mentioned, Tether’s Stable Coin status makes it different from Bitcoin, which is the most well-known cryptocurrency today.
The main difference is that the creators left it anchored in a stable currency, like the dollar, and that helped make it more balanced. To understand better, let’s take the example of the currencies of each country.
The value that each currency in the world acquires is usually given by the gold reserves that that country has, in addition to some other factors. In this case, it is this situation that makes the purchase and sale price stable between a certain value and another.
Bitcoin is not treated this way. It depends on speculation, in economic terms. This means that its price varies according to the amount of buying and selling in a day. That’s why there is usually great currency volatility in the market. This does not happen with Tether.
On the other hand, you don’t need the blockchain to do business with it, so it is, in theory, easier to transact with Tether.
How to buy Tether?
The most common way to buy cryptocurrency is by going to one of the websites that specialize in buying and selling these means of payment. For Tether there are some like Kriptomat, Finder, Bybit, among many others.
In this case, you will need to create an account and verify it for your security. After that, just follow the instructions to acquire Tether.
You can buy Tether through Bank transfers, Visa or Mastercard debit or credit cards and even Skrill and Neteller.
After purchasing your cryptocurrencies, you can also leave them in an electronic wallet that only you will have access to.
- Tether allows authorities to return stolen or lost funds to their owners.
- Its price does not depend on speculation and this makes it more stable.
- It is not entirely dependent on a blockchain.
- You can use them 24 hours a day, 7 days a week.
- It has low transaction fees, in addition to each movement being monitored so that you have complete security.
- You can buy them with debit, credit cards or other payment alternatives.
- It is not a widely accepted payment method among casinos.
- It is centralized and it is speculated that transactions may be censored.
- The issuing company keeps the money.
- Tether still doesn’t have the speed of other payment methods, so it may take a while for your transactions to complete.
- In general terms, it can be mentioned that, due to little knowledge on the subject, there is a greater risk in relation to traditional methods.