Why do people use USDT?

Why do people choose to use USDT? Could you elaborate on its appeal and what makes it stand out in the realm of cryptocurrencies? Is it primarily due to its stability, offering a hedge against volatile market movements? Or perhaps it's the convenience it brings, facilitating seamless transactions across various platforms? Is there a particular aspect of USDT that attracts institutional investors or retail traders alike? Could you also discuss any potential risks associated with using USDT and how users navigate these? I'm curious to understand the motivations behind its widespread adoption and the role it plays in the broader cryptocurrency and financial ecosystem.