EURT/USD (-0.27%)
Many europeans have waited for the EUR Tether (EURT) to go live and since 2018 it's possible to trade this euro pegged stablecoin on multiple exchanges and platforms.
A Bit About Euro Tether
The EUR Tether (EURT) is tied to the Euro (EUR), which means that 1 Euro equals 1 EURT. This stablecoin is backed by token reserves, and operate with the owners Bitfinex. Many crypto entusiasts have raised concerns about systematic risks to the crypto market for Tether and Euro Tether, including Jim Cramer, Bennett Tomlin, Cas Piancey and the blog named Bitfinex’ed. Recently, republican Warren Davidson said that USDT is a time bomb, and if that's the case, the same might be true for EURT.
The Euro-based stablecoins from Tether.CryptoLists.com
EUR Tether is a less well known stablecoin that is tied to the Euro. Tether Operations Limited was formed in 2014 by people that wanted a stable currency such as the USD to be available on the blockchain. The main motive for EURT is getting an alternative to the USD, and the second biggest currency by trading volume is a natural choice for many in Europe at least.
Utility of Euro Tether?
Holders use EUR Tether to make transactions between wallets and as a safe heaven when the market is volatile.
Euro Tether Price details
ERC20 Contract address: 0xc581b735a1688071a1746c968e0798d642ede491
›› Details & Tokenomics
›› EURT tokenomics and social media
Advantages of Euro Tether
+ Creation of a single digital currency for the European countries.+ An alternative for Europeans that prefer a Euro denominated crypto.
+ Up to 8% yield.
Disadvantages
- Some people and governments questions if it's fully backed by EUR.- Regulation for stablecoins might be introduced in the U.S within short
- Lack of details about how EURT is backed up.
Costs
▪ Rated at 8/10The price of EURT was designed to be flat and easily pegged with the Euro currency. For transactions on the ERC-20 blockchain, you usually have to pay 50-100 USD per transaction since the fees are rather high on Ethereum right now. However, when buying from an exchange or crypto platform the fees are usually in the region of 1 USD per transaction or less.
Crypto Lists Tips: If you use the TRX (TRC20) blockchain for transactions between wallets, you can usually come away with costs of less than 0.5 UST per transaction, so way cheaper than using the ERC-20 network. In fact, it's probably the best method to make transactions between various accounts and wallets since it goes really fast and cost way less.
Reputation and Buzz
▪ Reputation rated at 7/10▪ Buzz rated at 7/10
The U.S government is currently on their way to regulate stablecoins such as USDT and EURT. If that happens, there might be risks related to owning Tether assets and the value might not be pegged to 1 EUR for EURT or 1 USD for USDT. However, since Tether Operations Limited been around for a significant time - we assume that they are a able to follow the guidelines of any new government regulations that might come in the near future. But remember, the risks are rather high for EURT and USDT right now before anything has been decided.
FAQ
Who owns EUR Tether?
The cryptocurrency exchange Bitfinex owns it, but since it is a cryptocurrency, you can easily get your own share of EURT.
What is the best yield I can get for EURT?
Not so many offer great yields for Euro Tether, but from Swissborg (review) you can receive up to 8% yearly yield (APY) if you have the Swissborg Genesis Premium account.
Screenshots from Euro Tether
More sites where to buy/sell/trade Euro Tether
Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
Euro Tether details and tokenomics
