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Buy Tether USD (USDT)



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About Tether USD (USDT)

Tether USD (USDT) is a stablecoin issued by a Hong Kong-based company, Tether. Stablecoins are a type of cryptocurrency designed to be pegged to real-world currencies. Tether USD shadows the US dollar, meaning it will maintain a 1:1 ratio at all times. Tether does this by having a large reserve of assets, including cash and cash equivalents, corporate bonds, secured loans, and other investments. Committed to transparency, Tether undergoes regular assurance opinions every quarter and provides a comprehensive breakdown of its reserves on its website.

Tether USD is the most widely integrated digital-to-fiat cryptocurrency, and one of the oldest stablecoins in existence. Tether USD was designed so the US Dollar could be used as a digital currency on the blockchain. Being resistant to price volatility, This cryptocurrency is widely used by crypto exchanges, wallet providers, and financial services as it gives these companies an alternative to the lengthy process involved in exchanging and depositing fiat currency. Although Tether USD has a smaller market cap compared to Bitcoin and Ethereum, it has the largest trading volume. Find out below how to buy Tether USD on the Swyftx trading platform.

How to Buy Tether USD (USDT) in Australia

  1. Signup for free
  2. Verify your account
  3. Deposit AUD instantly
  4. Buy USDT

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Tether USD FAQs

  • Tether USD FAQs
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How is Tether USD unique?

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.

How does Tether USD maintain a 1:1 ratio with the US Dollar?

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.

How to buy Tether USD (USDT) in Australia?

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.

Where is the best place to buy Tether USD?

The best place to buy Tether USD is right here at Swyftx! Swyftx offers a fast, secure, and user-friendly platform that allows traders to easily deposit Australian dollars to trade Tether USD and other cryptocurrencies instantly. We offer competitive fees and excellent customer support and we are proud to be Australia's highest-rated crypto exchange as per our Trust Pilot Reviews.

How is the price of Tether USD determined?

The price of Tether USD is determined by the forces of supply and demand in the market. Similar to other assets, the price of Tether USD is determined by the number of buyers and sellers in the market at any given time.

Some significant factors that can influence the demand for Tether USD are adoption rates, Macro economic factors, News events, upgrades and advancements in its tech and investor sentiment.

Can I buy Tether USD with credit card?

Swyftx does not allow you to directly buy Tether USD with credit card, however, we do support credit and debit card deposits. Once your deposit has arrived in your account, you can then buy Tether USD instantly.

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What are Stablecoins?

Stablecoins are a type of cryptocurrency whose value is meant to be less volatile than other coins like Bitcoin or Ethereum. Learn more about how they work and why they are so essential.

Dislcaimer: The information is for general information purposes only and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to, buy or sell any assets. It has been prepared without regard to any particular investment objectives or financial situation and does not purport to cover any legal or regulatory requirements. Customers are encouraged to do their own independent research and seek professional advice. Swyftx makes no representation and assumes no liability as to the accuracy or completeness of the content. Any references to past performance are not, and should not be taken as a reliable indicator of future results. Make sure you understand the risks involved in trading before committing any capital. Never risk more than you are prepared to lose. Consider our Terms of Use and Risk Disclosure Statement for more.