Tether (USDT) has been one of the most popular stablecoins since its inception in 2015. It is a digital alternative to the US dollar, which helps to transfer the value of fiat money to the crypto world, avoiding all the drawbacks of traditional financial systems.
Let’s learn more about Tether and find out how to buy Tether (USDT) cryptocurrency in the fastest and most effective manner!
What Is Tether (USDT)?
Tether (USDT) is a stablecoin, the cryptographic version of the US dollar. Each unit of Tether issued for circulation is backed by a one-to-one ratio (i.e., 1 Tether = 1 USD) of the respective currency unit. All USDT stablecoins can be exchanged for the main monetary (fiduciary) currency in accordance with the terms of the Tether company.
Tether (USDT) ranks #3 in the crypto market cap ranking. The total market cap of Tether crypto is $68,194,844,203. The circulating supply is currently 68,182,782,220 USDT. As you can see, there is a slight discrepancy between these figures. The fact is that although Tether should be equal to $1, in reality, the USDT/USD rate is not a constant value and can be traded around this mark.
The maximum value of the Tether cryptocurrency against the dollar is 1.32; the minimum is 0.57. But these are exceptional and short-term fluctuations. The average volatility is 1-2%.
What Networks Does Tether (USDT) Support?
Due to the high demand for the stablecoin, USDT actively increases the number of supported blockchain networks besides the original one. This gives users the opportunity to save on commission fees and speed up transactions.
Currently, the most well-known supported blockchains are:
- Bitcoin (USDT Omni)
- Ethereum (USDT ERC-20)
- Tron (USDT TRC-20)
- Binance Smart Chain (USDT BEP-20)
- Bitcoin Cash
What Is Tether (USDT) Used For?
The fact that USDT is almost always worth one US dollar makes it extremely useful for storing or transferring value — that is why a lot of people are wondering how to buy Tether (USDT) crypto.
Bitcoin, Ethereum, and other popular cryptocurrencies constantly change value based on supply and demand in the market. Tether can be a good alternative to US fiat dollars for many purposes, including cross-border money transactions and trading cryptocurrencies without constantly converting it back to fiat.
Thus, the key features and benefits that Tether (USDT) provides:
- An alternative to unstable cryptocurrencies as a store of value and protection against sharp price fluctuations in the crypto market.
- Facilitating transactions in the crypto industry, reducing costs and delays.
- A bridge between fiat currencies and cryptocurrencies.
- For exchanges, the stablecoin helps increase the number of available trading pairs and facilitates trading in regions where fiat is not available for such purposes.
Once issued USDT stablecoins go into circulation, anyone can buy them on a crypto exchange. The time of transactions depends on which blockchain the token operates on and how loaded this blockchain is. So, how to buy Tether (USDT) crypto?
How to Buy Tether (USDT) Cryptocurrency?
If you’re wondering how to buy Tether (USDT) crypto, you should definitely think about buying it at Switchere. On our platform, you have an opportunity to buy USDT in the fastest and most convenient way using any available payment method. Moreover, we offer some surprising bonuses! Users of our platform enjoy a 0% service fee for the first order.
How to buy USDT with fiat? At Switchere, you can buy crypto for fiat money or swap crypto for crypto. In addition to traditional purchases with a bank card, you can use alternative payment methods available (SEPA, SOFORT, Apple Pay, and local Asian banks).
Here is an easy step-by-step guide on how to buy Tether (USDT) cryptocurrency with a credit card at Switchere!
- Visit our website and log in to your account.
- Choose the currency pair for exchange, payment method, and network and enter the amount. Don’t forget to check the transaction details by clicking on ‘Details.’ Once you’re done, click the ‘Buy’ button.
- Specify your Tether wallet address and click on the ‘Buy’ button.
- Enter your card details and click on the ‘Pay Now’ button. Please take into account that you have a limited amount of time to send your funds. Otherwise, the transaction will be canceled automatically.
- Once you send the funds and your transaction receives the required number of blockchain confirmations, the amount of purchased USDT will be sent to your provided wallet address accordingly.
- Congratulations! The transaction is completed, and now you can check your Tether wallet.
Usually, Switchere transactions take 5-30 minutes. If you have any issues with the exchange process, let us know at [email protected]
Today, we considered in detail the most popular stablecoin in the cryptocurrency space — Tether (USDT). This is one of the first assets that a beginner usually buys when entering the crypto market since it allows buying any other cryptocurrency with USDT and starting trading on exchanges. Storing savings in Tether instead of volatile cryptocurrencies guarantees their stability and protection from rate fluctuations.
Thus, many of those who invest in digital currencies consider Tether (USDT) as an option to fix profits or hedge against market fluctuations. Knowing how to buy Tether (USDT) crypto, you will be able to manage your investments in the fastest and most effective manner.
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