Buy Tether USD (USDT)

The main factor that makes Tether USD unique is that its value is pegged to the US dollar. Tether claims that it is able to do this by ensuring USDT is fully backed by cash and cash equivalents. This means that whenever Tether issues USDT tokens, the same amount of US dollars or cash equivalent products are allocated to its reserves.

Cryptocurrency markets can often be very volatile, making them too unreliable to be exchanged and stored as value. USDT, being a stablecoin, mitigates this risk and is protected from these fluctuations. Therefore, a lot of businesses and establishments accept transactions made in USDT.

Tether USD maintains a 1:1 USD peg so that when people buy USDT they are essentially buying a digital equivalent of the US Dollar. Tether claims that every USDT token in circulation is fully backed by real fiat currency (USD) in its reserves. Some sceptics continue to question USDT’s reliability as a stablecoin, however, Tether continues to be transparent with how it has maintained a 1:1 ratio over all these years. You can view Tether’s current balances on its transparency page.

You can easily buy Tether USD (USDT) on Swyftx’s Australian crypto trading platform. First, you’ll need to create an account and complete your ID verification. Once your account has been set up, you can deposit AUD via bank transfer, PayID, or debit card. After your deposit clears, you can then use this to buy USDT and other crypto assets. Simply enter the amount of Tether you’d like to buy (or the AUD equivalent) and confirm your purchase. Once your funds have been cleared and you’ve been sent confirmation of your purchase, your Tether USD will be stored in the crypto wallet integrated with your account.

The price of Tether USD is determined by the underlying asset it is backed by – so in this case, the US Dollar. This is accomplished through Tether’s 1:1 reserves, meaning every USDT in circulation is supported by a real US Dollar (or equivalent).