You can redeem Tether USDT 1:1 on tether.to but theres a catch

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-Tether is struggling to retain its dollar peg on several centralized exchanges.
-To redeem Tether for fiat currency, users must go through a few steps before sending it to their bank account.
-However, there is a big catch that Tether fails to put in its marketing; users have to pay $150 for verification, and the minimum transaction amount is $100,000.
-U.S. citizens must be classified as Eligible Contract Participant to redeem USDT via the website.
-Charging a fee for KYC is extremely unusual, Tether states that the verification fee is intended to ensure that only those who are serious about establishing an account apply.
-The fee also helps offset a portion of the incurred costs from the execution of a robust verification process.
-Tether charges a 0.1% fee for withdrawals up to a maximum of $1,000, which means Tether is redeemable at $0.99 for up to $1 million, and then $1 above $1million in terms of money in the bank.
-The terms and conditions state that U.S. citizens are prohibited from using the tether.to site.
-Any U.S. person is a customer of Tether Limited rather than Tether International Limited.
-U.S. parties who can interact with Tether Limited are Eligible Contract Participants.
-As defined by section 1a(18) of the United States Commodity Exchange Act, this only includes individual investors with more than $10 million, individuals with $1 million net worth, financial institutions, insurance companies, and investment companies.

 

 

image 2022 05 12 154953462 You can redeem Tether USDT 1:1 on tether.to but theres a catch
You can redeem Tether USDT 1:1 on tether.to but theres a catch 2

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