What is wrong with tether ? It's a good way to allo pseudo-fiat trading for altcoin exchange which doesn't have the right too. Every Tether is backed by USB and you can withdrawal your tether easier than fiat. It's a respond to a real need. You can't be a cryptotrader with a lot of movement in your bank account. Tether allow you to do this.
Maybe i don't get it. Are you serious when you have said that every Tether is backed by USD?Sort of, every tether is not literally backed by paper USD, but the currency is inflated and deflated so that each tether is worth $1. This is done by pinning the amount of total tether to its market cap in USD. For example, if the market cap of tether rises from $15 to $20, then the total amount of tether will increase from 15 coins to 20 coins (making each coin worth $1). In short, the price of tether will always be $1 (as long as the devs stay on-top of things).
Good luck and stay safe!
In theory...In real world practice Tethers price has gone as low as $0.91 and as high as $1.06. These price swings occur during dips and rallys of high volume crptocurreny.