Tether Integrates with Cryptsy Exchange

Tether Integrates with Cryptsy Exchange

World’s Second Most Popular Digital Currency Exchange Introduces Revolutionary Currency Platform.

Tether (www.tether.to), the first blockchain-enabled platform to allow traditional currency to be used like Bitcoin, today announced its integration with Cryptsy, ranked as the world’s second most popular digital currency exchange by The Cryptocurrency Times. This news follows the recent announcements that Tether is also available on ShapeShift.io and GoCoin platforms.

“We’re excited to have such an innovative and disruptive approach to digital currency integrated with our platform,” said Paul Vernon, CEO at Project Investors, Inc., the company which manages Cryptsy.

“Being able to connect the Blockchain to Tether’s fiat-backed digital currency provides a level of stability and reassurance not previously seen in this sector.”

Tether’s integration with Cryptsy allows its customers to transact with fiat currencies across the exchange and blockchain without the volatility concerns related to Bitcoin or alt coins. Tether provides a secure platform that allows deposited US dollars (and soon euros, Japanese yen and other fiat currencies) to be tethered and converted into a 1-to-1 backed digital currency called tether USD₮. This stable digital currency can be held in online, offline or mobile wallets and easily sent peer-to-peer.

“Cryptsy’s integration of Tether into their popular exchange service is massively beneficial, not only for us but for the entire digital currency ecosystem,” said Reeve Collins, co-founder and CEO of Tether.

“We’re thrilled to be able to extend our valued sense of stability and security to a new group of crypto-savvy consumers.”

Currently in private beta, each tether is backed by its corresponding currency on deposit, which can be viewed and verified in real-time via the Tether.to website and on the Blockchain. Tether will be fully transparent and audited to demonstrate 100 percent reserves at all times. The near-zero fees for creating and redeeming tethers and zero-fee transferability incentivizes rapid adoption and widespread use of digital currency.

About Tether

Tether is disrupting the legacy financial system by offering a more modern approach to money. By introducing fiat currency—digital cash—to the Bitcoin blockchain, Tether makes a significant contribution to a more connected Bitcoin ecosystem by adding Bitcoin benefits, such as instant global transactions, to traditional currency and traditional currency benefits, such as price stability, to digital currency. With a commitment to full transparency and compliance, Tether is the most secure, fastest and lowest cost way to transact with money.

For more information, please visit https://tether.to/

About Cryptsy

Cryptsy International is an Internet startup managed by Project Investors, Inc., focusing on the exchange of the crypto-currency commonly known as Bitcoin and its derivatives. It currently services more than 200 different types of crypto-currencies. The Cryptsy.com exchange opened on May 20, 2013, and since then has seen rapid growth in both its customer base and trade volume. It currently has over 270,000 registered users from all over the world, with a volume of 300,000 trades per day. Its mission is to provide a safe, simple and efficient environment for users to trade crypto-currencies with each other.

Related News

Cryptsy in disarray

The popular cryptocurrency trading site Cryptsy.com has been having some noticeable issues these past few hours. Users of Cryptsy have been reporting negative balances, frozen transfers, suspended withdrawals. Speculation is that a recent update is causing the issues. Cryptsy is aware of the issues, but no official statement has been released yet. Who's been hit? I spoke to BlackDogeOfWallSt, one of the developers of BlackCoinPool.com (BCP), which has probably been the hardest-hit community from Cryptsy's problems. BCP has had to delay their payments due to the problems. BCP's payouts have....

Cryptsy Considers Spreading its 10,000 BTC Loss to Users

Today, the Cryptsy team has a total liability of 10,000 BTC, which based on the price of bitcoin at the time of writing is equivalent to US$3.8 million. As of now, the Cryptsy team is is trying to find a new owner or an investor to take over the exchange. The Cryptsy team considers “Spread the loss to all users in the system and allow trades to continue.” The alleged operator of Cryptsy stated that many suggested this option for the Cryptsy team to implement. However, by the looks of the users, it seems like not many users will be willing to adapt to this “solution.” Cryptsy, amid various....

Cryptsy: Mt. Gox Junior?

This writer has received more complaints about Cryptsy since his last story on the subject than he has billing notices. Seriously. Some of them were messages of support, some were further complaints. Most of them had a common theme: Cryptsy won’t let the customer withdraw his or her funds. Within the last 24 hours, Cryptsy had some serious downtime. Their message was simple and, at this point, expected: “Trade engine and withdrawals paused while we investigate cause of lag. Your patience is appreciated. Thank you.” Something should be gotten out of the way: with as many dissatisfied....

Cryptsy's CEO - A Hard Man In The Face of Coinfire's Aggro!!!

In response to Coinfire's article, which piled up a long list of allegations and accusations against Cryptsy, we reached out to Paul Vernon, the CEO of Cryptsy, to try to get his voice out to the public and go through his defenses against Coinfire's vicious attacks!! Here is how the interview went on: Tamer: Who would you narrate to Newsbtc 's readers the "Cryptsy" story? Paul: Cryptsy was created as a hobby, because I was running around 25 different altcoin pools, from litecoin to Mintcoin to Feathercoin and many other coins. I just can't name them all. I had too many different pools and....

PSA: Cryptsy Down, Claiming DDoS

For nearly twelve hours, Cryptsy.com, an elder "alt coin" exchange which has been the subject of semi-regular community outrage for various reasons, has been inaccessible. According to one of the exchange's proprietors, Paul Vernon, the site has suffered a DDoS attack not unlike the one CCN has been experiencing as of late. Website offline due to denial of service attack. We are working to mitigate. - BigVern (@cryptsy) November 25, 2015. The difference is that CCN has managed to come back online in a matter of a couple hours, not half a day. More importantly, CCN isn't holding onto....