Tethers are a type of digital currency built using the Omni Layer on top of the Bitcoin blockchain. Each tether is backed 1-to-1 by traditional currency held in Tether Limited’s reserves. Accordingly, 1 USD₮ is always equivalent to 1 USD. Bitfinex lets you receive USD₮ from a Bitcoin blockchain address and treat them as a USD deposit. Similarly, you can withdraw funds to a Bitcoin blockchain address as USD₮. Learn more about the benefits of using tethers here.
Articles in this section
- Transfers to Third-Party Wallets
- Minimum Withdrawals
- Deposit Fees
- Tether Transport Protocols
- Tether-enabled Wallet
- Can I use my Bitfinex account to participate in ICOs?
- Why are there three different wallets in my Bitfinex account?
- How do I transfer funds between my wallets?
- How do I withdraw cryptocurrencies?
- How long does it take for a cryptocurrency withdrawal to be processed?