Euro Tether

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Discover Euro Tether's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Euro Tether?

Euro Tether (EURT) is a stablecoin issued by Tether Limited, pegged to the Euro at a 1:1 ratio. It provides a stable asset in the volatile cryptocurrency market, facilitating seamless transactions, trading, and international payments. EURT is backed by collateral reserves equal to the number of tokens in circulation, ensuring minimal price volatility.

How is Euro Tether used?

Euro Tether (EURT) is a stablecoin pegged to the Euro, primarily used for various purposes within the cryptocurrency market. It serves as a medium of exchange and a store of value, facilitating seamless transactions and trading across different exchanges. EURT is utilized by traders and investors to avoid market volatility, execute peer-to-peer transactions, and trade cryptocurrencies and Non-Fungible Tokens (NFTs) efficiently. Additionally, it enables businesses and individuals, especially in Europe, to make digital payments using a cryptocurrency that mirrors the stability of the fiat Euro.

How do I store Euro Tether?

To store Euro Tether (EURT) tokens, you can use a variety of methods. Here are some options:

  1. MetaMask Wallet:

    • Download and install the MetaMask extension for Chrome.
    • Create a new wallet by agreeing to the terms and setting a strong password.
    • Save the 12-word recovery phrase securely.
    • Add the EURT token by importing it with the contract address 0xC581b735A1688071A1746c968e0798D642EDE491.
  2. Bit2Me Wallet:

    • Create a free Bit2Me account.
    • Access the multi-currency wallet.
    • Use the wallet to purchase, sell, send, receive, and store EURT tokens securely.
  3. Cold Wallets:

  • Paper Wallet: Generate public and private keys offline and print them securely. This method is offline and less susceptible to hacks.
  • Hardware Wallet: Store your EURT tokens on a physical device like a USB drive, which provides an additional layer of security.

These methods offer different levels of security and convenience, allowing you to choose the best option for your needs.

How to buy Euro Tether?

To buy Euro Tether (EURT) tokens, you can follow these steps:

Buying Through Centralized Exchanges (CEX)
  1. Register on a CEX:

    • Go to the official website or app of a centralized exchange (CEX) that supports EURT trading, such as Binance or Bitget.
    • Create an account by providing the required information and verifying your identity.
    • Enable two-step verification for added security.
  2. Buy Base Currency:

    • Use fiat to purchase a base currency like USDT, ETH, or BNB. This can be done through the CEX's OTC trading service or by using a financial service platform like PayPal or Robinhood.
  3. Transfer Base Currency:

  • If the CEX supports EURT trading, transfer the base currency to that exchange. If not, transfer it to a CEX that supports EURT trading.
  1. Buy EURT:
    • Use the base currency to buy EURT in the spot market.
Buying Through Decentralized Exchanges (DEX)
  1. Choose a DEX:

    • Select a decentralized exchange (DEX) that supports EURT trading.
  2. Download and Set Up a Wallet:

    • Download and install a Web3 crypto wallet like Metamask or an App wallet like Trust Wallet, which is supported by the DEX.
  3. Transfer Base Currency:

  • Transfer the base currency (ETH, BNB, etc.) to your self-custody crypto wallet address.
  1. Connect to DEX:

    • Connect your wallet to the DEX by following the instructions on the DEX's website.
  2. Swap for EURT:

    • Find the "Swap" option on the DEX, select the base currency as the "From" token, and EURT as the "To" token. If EURT is not listed, input its smart contract address.
  3. Confirm Swap:

  • Review the details and confirm the swap. Your wallet will ask for confirmation.
Additional Options
  • Bit2Me:

    • Register on Bit2Me, add funds via card, transfer, or cash, and buy EURT at the best price.
  • Zengo:

    • Download the Zengo app, set up a wallet, and use it to buy, sell, send, receive, and trade EURT tokens.

Remember to always be cautious of scams and ensure you are using official platforms and wallets.

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History of Euro Tether

Euro Tether (EURT) is a stablecoin issued by Tether Limited, designed to maintain a 1:1 peg with the Euro. It was developed by Tether Operations Limited, a company founded in 2014 by Brock Pierce, Reeve Collins, and Craig Sellars. The company operates as a platform, issuing blockchain-based tokens linked to the prices of government currencies like the Euro, Dollar, and Chinese Yuan.

Euro Tether was created to provide transparency and stability in the crypto market by mirroring the Euro via a decentralized network. It allows individuals and organizations to exchange value in crypto using a familiar accounting unit. The token is backed by reserves held in cash or cash equivalents, including commercial paper, certificates of deposit, and other debt securities. Tether conducts regular reviews and attestations of its Euro reserves with BDO Italia, a member of the BDO Global Accounting Organization, to ensure that the tokens in circulation are 100% backed by a reserve of underlying assets.

Euro Tether operates as a second-layer token on top of the Ethereum blockchain, similar to other Tether tokens like USD Tether (USDT), which operates on multiple blockchains such as Bitcoin, Ethereum, EOS, Tron, and Algorand. The token's value is pegged to the Euro, providing a robust and decentralized method of exchanging value while using a familiar accounting unit.

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How Euro Tether works

Euro Tether (EURT) is a stablecoin pegged to the value of the Euro. It is designed to maintain a 1:1 ratio with the Euro, ensuring that each EURT token is always worth one Euro. Here's how it works:

Issuance and Reserves

Tether, the company behind EURT, creates new tokens by holding an equivalent amount of Euros in reserves. These reserves serve as collateral for the EURT tokens in circulation. This process ensures that the amount of Euros held in reserve matches the number of EURT tokens issued, maintaining the stable value of the coin.

Value Stability

The primary objective of Tether EURt is to maintain a 1:1 ratio with the Euro. This means that each EURT token is intended to represent one Euro in value. Tether maintains this stability by ensuring that the amount of Euros held in reserve matches the number of EURT tokens in circulation.

Blockchain Technology

EURT operates on a blockchain network, such as Ethereum, using smart contracts. This technology allows for the secure and transparent tracking of transactions, ensuring that the supply of EURT remains fully backed by the corresponding Euro reserves.

Transparency and Audits

Tether periodically undergoes audits to provide transparency and verify that the Euro reserves indeed match the number of EURT tokens in circulation. These audits are conducted by reputable accounting firms to enhance trust and confidence in the stability of the token.

Use Cases

EURT can be used for various purposes within the cryptocurrency ecosystem. Users can hold EURT as a stable store of value, trade it on cryptocurrency exchanges, or use it for cross-border payments and transfers. It offers the advantages of fast transactions and global accessibility that are characteristic of cryptocurrencies.

Staking and Rewards

EURT holders can earn rewards by staking their tokens. Staking involves participating in the verification mechanism used by the Proof of Stake (PoS) consensus protocol. Users who stake EURT can earn rewards by helping to validate transactions and maintain the decentralized network. This process allows users to earn passive income while supporting the network.

Overall, EURT combines the benefits of blockchain technology with the stability of the Euro, providing users with a digital representation of the Euro that can be easily transferred and used within the cryptocurrency ecosystem.

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Euro Tether's strengths

Euro Tether (EURT) is a stablecoin issued by Tether Limited, a subsidiary of iFinex Inc. It is pegged to the Euro at a 1:1 ratio, ensuring a stable value. Here are the strengths of EURT:

  1. Stability: EURT is backed by collateral reserves in Euros, ensuring that each token is equal to €1, minimizing price volatility compared to other cryptocurrencies.

  2. Ease of Use: EURT facilitates seamless peer-to-peer transactions, trading of cryptocurrencies and NFTs across various exchanges, and easier international payments by bypassing traditional banking hurdles.

  3. Flexibility: It can be used for various purposes within the cryptocurrency ecosystem, such as a stable store of value, trading on exchanges, cross-border payments, and decentralized finance applications.

  1. Security: EURT operates on blockchain networks like Ethereum, ensuring secure and transparent tracking of transactions.

  2. Transparency: Tether periodically undergoes audits to verify that the Euro reserves match the number of EURT tokens in circulation, enhancing trust and confidence in the stability of the token.

  3. Accessibility: EURT can be easily transferred and traded, combining the advantages of cryptocurrencies with the stability and familiarity of traditional fiat currency.

  1. Liquidity: It allows for large-scale liquidity transfers to exchanges, making it practical for traders and funds.

  2. Risk Management: EURT helps users manage risk by providing a stable asset to hedge against volatility in the cryptocurrency market.

  3. Fast Transfers: EURT enables fast transfers anywhere in the world without worrying about delays associated with traditional banking transactions.

  1. Wide Acceptance: It is widely accepted on many exchanges, providing convenience to users trading on different platforms.

These strengths make EURT a reliable and versatile stablecoin for various use cases in the cryptocurrency ecosystem.

Euro Tether's risks

Euro Tether (EURT) carries several financial risks. One of the primary concerns is the stability of the reserves backing the stablecoin. EURT is fully backed by the same pool of assets that USDT is, which includes US Treasury Bills, Non-US Treasury Debt, Reverse Repos, corporate bonds, secured loans, Bitcoin, and miscellaneous investments. However, the exact nature and liquidity profiles of these investments are not fully disclosed, which raises concerns about the stability of the reserves.

Another risk is the lack of transparency in the storage of assets. Tether refuses to disclose the names of banks and custodians it partners with for custody of reserves, which makes it difficult to assess the safety of the assets. Additionally, Tether does not maintain segregated accounts for assets held on behalf of EURT holders, which means that the assets are not bankruptcy remote.

The credit risk of entities holding assets is also a concern. Tether is believed to hold its assets through several banks and custodians, but the existence of other custodians is undisclosed. This lack of transparency raises questions about the creditworthiness of these entities.

Furthermore, EURT is subject to the monetary policies of various nations, which can impact the purchasing power of the collateral. This means that changes in interest rates or other economic factors can affect the value of the stablecoin.

Finally, there is a risk of censorship through blacklisting. Tether has the power to blacklist specific user wallets, which can prevent legitimate users from transacting with criminals but also raises concerns about the central authority's control over the stablecoin.

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Did Euro Tether raise funds?

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Euro Tether’s team

  • Euro Tether (EURT) Team: The creators of Euro Tether (EURT) are linked to the original team behind the Tether platform, which includes Brock Pierce, Reeve Collins, and Craig Sellars.

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