We are pleased to announce that we’ve added USDT (Tether) to the Blockchain.com Wallet. Blockchain.com users can now buy USDT, swap other crypto for USDT, or simply send and receive USDT in the Wallet. And beginning next week, users will be able to deposit USDT into an Interest Account to start earning up to 7% interest annually.
As a stablecoin, USDT anchors its value to the price of the US dollar, meaning one Tether will always equal ~1 USD.
Stablecoins like Tether shield you from crypto market volatility, and in turn, empower you to have a digital store of value that you can choose to self-custody. This means that, with just a mobile phone and an internet connection, you can store your assets securely and be independent from banks and other financial institutions.
And we’re excited that USDT will join BTC and ETH as one of the assets users can deposit in an Interest Account and begin earning up to 7% interest annually. Note that different interest rates apply for BTC and ETH.
For more information on Tether and other stablecoins, check out our most up-to-date research reports on the developments of stablecoins.
Tether is currently available in your Wallet via Web. Support for iOS and Android is coming soon.
Interest accrues daily, is paid monthly, and represents an annualized rate. It’s only available to users who have verified their identity with us and live outside Canada & Japan. The current minimum deposit is $100 worth of crypto. PAX and USDT are currently unavailable in the United States and the United Kingdom.
Digital currencies are not bank deposits, are not legal tender, are not backed by the government, and accounts and value balances are not subject to US Federal Deposit Insurance Corporation or Securities Investor Protection Corporation or any other non-US governmental or government-backed protections.
Legislative and regulatory changes or actions at the US State, Federal, or international level may adversely affect the use, transfer, exchange, and value of digital currencies.
Buy, swap, and earn interest on USDT (Tether) in the Blockchain.com Wallet was originally published in @blockchain on Medium, where people are continuing the conversation by highlighting and responding to this story.