Pegged currency is a digital currency that is directly connected and has equal value as its designated currency, such as USD or EUR. A pegged cryptocurrency is also referred to as a stablecoin.
Tether is one of the most popular pegged cryptocurrencies. Here are three examples of Tether being pegged to conventional currencies:
- 1 USDT is pegged to 1 USD.
- 1 EURT is pegged to 1 EUR.
1 CNHT is pegged to 1 CNH.