USD Tether (USDT) is a stablecoin issued by the Hong Kong-based company Tether. Stablecoins are digital assets that are pegged to real-world assets and therefore do not fluctuate in value, thus ‘stable.’ USDT is pegged to the US dollar at a 1:1 ratio, meaning that the value of USDT is equal to the value of the USD and can always be exchanged for an equal amount of USD. Every USDT is backed by the Tether reserves, which include both traditional currency and cash equivalents, as well as occasionally including other assets and receivables from loans made by Tether to third parties. The value of the Tether reserves is published daily, and Tether claims that the value of the Tether reserves “matches or exceeds the value of all USDT in circulation.” One of the oldest stablecoins in existence, USDT is by far the most widely integrated digital-to-fiat cryptocurrency. To Buy USD Tether (Buy UDST) in New Zealand, simply signup to a free Swyftx trading account. Once your account is verified and you have deposited NZD, enter the amount of USDT you would like to purchase and click ‘Buy USD Tether.’
To buy USD Tether, create a free training account with Swyftx. Swyftx is NZ cryptocurrency exchange allowing users to trade hundreds of different digital assets including Tether. To sign up, you’ll need to provide a few personal details like your name, email address and phone number as well as creating a secure password. Next, is the ID verification step. This typically takes most people 3 minutes or less to complete. You’ll need to submit a form of government-issued photo identification. Once verified, you can deposit funds into your account via bank transfer, PayID, POLi or debit/credit card. Once you have successfully deposited funds into your account you can buy USD Tether and other cryptocurrencies listed on the Swyftx crypto exchange.
USD Tether was designed as a digital version of the US dollar that could be used on the blockchain. It was conceived to give financial businesses and companies an alternative to the traditional exchanging of fiat currency (i.e. NZD). This allows companies to exchange funds faster and avoid the process of converting in and out of different fiat currencies through the banking network. It also bypasses any volatility within the crypto market because it is pegged to the US dollar. You may be able to spend your Tether on goods and services with vendors or retailers who accept it. To buy Tether, create your Swyftx trading account and deposit NZD today.
Swyftx allows you to make deposits into your account via the following payment methods: bank transfer, PayID, POLI and debit/credit card. If you’ve got an account, visit the deposit NZD tab to proceed. Select the debit/credit card option and tell us how much you wish to deposit.
To sell your USD Tether on the Swyftx, navigate to the ‘sell USDT’ tab on your account. You can set a price limit that you want to take profit at, as well as entering the amount of Tether you wish to sell (either quantity or value in NZD).
When you buy Tether on the Swyftx crypto exchange, it will be immediately and automatically stored in the wallet integrated with your account. A crypto wallet is an app that is necessary for storing, receiving and sending your digital assets. If you’d like to transfer your USDT to an external wallet, you can easily do so by clicking on the withdraw tab. Simply enter the wallet address and the amount you wish to withdraw.
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