Tether price today

The Tether price is not just the price of one cryptocurrency for Iranian users; Tether (USDT) is the main bridge between the Toman and the crypto market, and its Toman rate usually moves very close to the open-market dollar. On this page you can see the live price of Tether in Toman and its candlestick chart, and below we explain what Tether is, what its backing says, why its Toman price changes, and what to watch out for when transferring it on different networks such as TRC20 and ERC20.

What is Tether?

Tether is a "stablecoin"; that is, a cryptocurrency whose value is meant to stay fixed and equal to one US dollar. Its issuer, Tether Limited, states that for every unit of Tether in circulation it holds reserves equal to one dollar, mainly in the form of short-term US Treasury bills, cash and other assets. New Tether is created when large customers give dollars to the company, and when dollars are redeemed, the Tether is taken out of circulation.

Tether was launched in 2014, initially under the name "Realcoin", and from its early years had close management ties with the Bitfinex exchange. Today Tether is the world's largest stablecoin by market capitalization, and a large share of crypto market trading is done with pairs such as BTC/USDT.

Tether's backing and the debates around it

The transparency of Tether's reserves has been debated for years. In 2021, US regulators, including the New York Attorney General and the Commodity Futures Trading Commission (CFTC), reached settlements with fines with Tether over the company's past claims of full dollar backing. Since then, Tether has published periodic "reserve attestation" reports showing the composition of its assets; these reports are not the same as a full audit, and users should be aware of the difference.

Another important point is that Tether is a centralized asset: the issuer can "freeze" the Tether held at a specific address, and it has done so many times for addresses linked to hacks, crimes or sanctions lists. This means that holding Tether in a personal wallet does not protect it from this capability either.

Why does the Tether price in Toman change?

Tether's global price is around one dollar and usually deviates from it by only a fraction of a cent. But the Toman price of Tether on Iranian exchanges is set by supply and demand in that market, which is why it follows almost the same path as the open-market dollar . Factors that move the Tether price in Iran:

• The open-market dollar rate: inflation, political news and sanctions that affect the dollar also affect Tether.
• Round-the-clock trading: the Tether market never closes; that's why during holidays or at night, when currency exchange offices are closed, the reaction to news is sometimes seen first in the Tether price.
• Rial restrictions: any change in exchanges' rules for Toman deposits and withdrawals can temporarily lower or raise demand and change the gap between Tether and the open-market dollar.
• Crypto market hype: when users rush into the market to buy Bitcoin and altcoins, demand for Tether goes up.

Tether transfer networks: TRC20, ERC20 and others

Tether has been issued on several different blockchains. All these versions are the same Tether, but they move on separate networks, and the most important rule is that the withdrawal network at the source and the deposit network at the destination must be exactly the same.

Among Iranian users, the TRC20 network on Tron is the most common route for transferring Tether, as it usually has lower fees than ERC20. ERC20 fees depend on how congested the Ethereum network is and can be significant for small amounts. Exchanges list withdrawal fees separately for each network; compare them before sending.

Note that ERC20 and BEP20 addresses look the same. If you send Tether on one network to an address whose destination does not support that network, the asset may be lost, or recovering it may take a lot of cost and time. When depositing on the TON network, if the exchange asks for a "memo" or "comment", entering it is mandatory. The list of networks Tether supports is not fixed either, and a network is sometimes dropped; always check the exchange's up-to-date list.

Keeping Tether safe

Because Tether has a stable value, many users use it to hold dollar savings, and this has made it a prime target for online scams. A few basic tips:

• Do not share your wallet's recovery phrase with anyone, and do not enter it on any website or bot.
• Treat offers of "fixed daily returns on Tether" or "Tether investments with guaranteed returns" with serious suspicion; no high return is risk-free.
• Small unknown transactions or addresses very similar to your own in your wallet history may be an "address poisoning" scam; never copy a destination address from your history.

Follow warnings about high-risk platforms in Teagle's risk warnings section.

Tether and Iranian users: foreign or domestic exchange?

Iranian exchanges make it possible to buy and sell Tether with Toman, and this is the simplest way into the crypto market for users inside the country. However, their trading and withdrawal fees, limits, supported networks and security levels are not the same. Foreign exchanges usually prohibit serving residents of Iran under sanctions laws, and an account identified as Iranian may be blocked. In addition, since Tether's issuer can freeze addresses, the risk of assets being frozen is not zero for Iranian users. Before choosing an exchange, see the comparison and reviews of crypto exchanges on Teagle.

Tether alongside other markets

Comparing the Tether price with the open-market dollar is one of the simple indicators for gauging market conditions: when the gap between Tether and the dollar widens, it usually means that demand to enter or exit the crypto market has become unusual. See the rates of other currencies in the Iran market currency section and the prices of all cryptocurrencies in the crypto section .

The information on this page is for information only and is not a recommendation to buy or sell. Prices are obtained from the stated sources and may differ slightly from the rate at the exchange you use.