More

    Travala Adds Second Stablecoin, Tether (USDt) As Crypto Payment Option For Booking Hotels

    On January 10, 2020, Travala announced they will now accept Tether USDT stablecoin for payments on their portal.

    Matt Luczynski, Travala SEO, made the announcement and reiterated the company’s goal of offering a wide range of payment options for its users. He said,

    “Part of our mission is to provide our users with a wide choice of the most well known and used cryptocurrencies so it made perfect sense for us to integrate USDT as a payment option on Travala.com.”

    In line with the firm’s objectives, it is now integrating the USDT payment option on its portal for users. Apart from Tether, Travala also accepts some other cryptocurrencies on its platform. The list includes their own AVA, Cardano, Stellar, Bitcoin Cash, Binance Coin, Litecoin, XRP, Ethereum, as well as Bitcoin.

    Position of Tether in the market

    Tether was introduced into the crypto market three years ago. According to the stablecoin, it wants to use its one-to-one ratio with fiat currency to prevent price fluctuations. When it was launched, traders and merchants were optimistic about the offerings of the stablecoin.

    In the early days of Tether’s launch, merchants were hedging against volatility by accepting Bitcoin, Ethereum, Ripple, and converting to Tether. According to the operation head at Payment Source, Sean Mackay, the idea was to reduce the risks when there is massive price fluctuation on the more popular stablecoins. However, as it stands, merchants can now trade directly with Tether with no exchange or conversion necessary.

    The stablecoin still faces controversy in the market

    Despite the firm’s efforts to make Tether more reliable, the stablecoin is still facing some major challenges. In early 2019, Letitia James, a New York Attorney, filed a court order against Tether Limited. Tether was accused of scheming with iFinex over the use of Tether’s reserve funds to cover about $850 million loss of client’s funds from the Bitfinex Exchange. The charges were made against Tether’s claims of stability on the use of its USD reserves.

    But despite this legal issue, Tether has continued to do well in the market. They are still rated  the 5th largest in the market, based on market capitalization. It also has one of the highest monthly and daily trading volumes in the market.

    Currently, USDT daily trading volumes are around $26.5 billion, with Bitcoin’s at $22.5 billion, as stated by CoinMarketCap.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Ali Raza
    Ali Raza
    A freelance journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali's work has been published on a number of cryptocurrency publications.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,267FansLike
    2,732FollowersFollow
    4,092FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Swiss Private Banking Giant Julius Baer Adds Digital Asset Trading And Crypto Custody Services

    The major Swiss wealth management and private banking group Julius Baer just launched, in partnership with Seba, its new custodial and trading cryptocurrency services. The...

    Iran's Ministry of Industries, Mining, and Trade Grant More Than 1,000 Crypto Miners Licenses

    Iran is regulating crypto miners after a new licensing regime has been introduced by the country’s government. According to an official representative from the Iranian...

    CME Gaps for Bitcoin Price Fill over 95% of the Time: Research

    CME Gaps are popular topics that frequently get talked about in the crypto market, which usually has seen Bitcoin dumping. These Gaps occur because unlike...

    The Upcoming Cut in Bitcoin Supply Means Zero for BTC Price Says, Analyst

    Searches for bitcoin halving on Google Trends on an uptrend “Makes no sense” to discuss if the halving is priced in says economist...

    WEF's New Global Consortium To Focus On Cryptocurrency Governance Framework

    The World Economic Forum (WEF) has announced the creation of a global consortium which will come up with a governance framework for all cryptocurrencies...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.