Buy Tether or USDT Cryptocurrency explanied by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about how to Buy Tether or USDT Cryptocurrency.
How To Buy Tether or USDT Cryptocurrency?
Tether is a cryptocurrency token that was released in 2015 on the Bitcoin blockchain, but was later moved to the Litecoin blockchain. The Tether is pegged to the USD and the developers claim each token is backed by 1 US dollar held in reserve by Tether Limited. The Tether can be redeemed on the Tether platform and can be transferred, stored, spent, just like bitcoins or any other cryptocurrency. The token is supported by many major cryptocurrency exchanges, but like the other cryptocurrencies is not a legal tender in most countries, despite being backed by the USD.
If you want to buy Tether, this is what you can do:
Normally, most of the bigger cryptocurrencies of some value, can be also bought for fiat currency, which is the more straightforward to get the desired coin. However, this is not the case with Tether, despite it allegedly having some real value. There is not a single exchange that provides the option to buy Tether with fiat currency. You need to buy Bitcoin or Ether first and then exchange it for Tether.
1. Buy Tether for Bitcoin or Ether. There are a lot of exchanges – big and small – who offer this option, but first you need to get Bitcoin or Ether. You can open an account with Coinbase, which is a large and reputable exchange that has many fiat payment options, including credit cards, and has decent trading fees. Coinbase has a New York bit license and offers its services in quite a few countries across the world.
2. When you get your Bitcoin or Ether, you should open an account with an exchange that offers Tether. There are a few of those and we’re going to list some of the ones who have the highest volume: OKEx, Binance, Huobi, Poloniex, HitBTC, Bittrex, GateIO, Liqui, Kucoin. Usually the Tether can be traded for any other token on offer at the exchange, including some really exotic ones.
3. After you open your account and undergo the verfication you should transfer your Bitcoin or Ether to the exchange and buy Tether with it.
After you get Tether coins, you should preferably store them in your own e-wallet, instead of on the exchange, as it is safer. Like most cryptocurrencies, Tether provides proprietary Tether wallet, where sending and receiving the coins between different wallets is free. Freewallet also offers a Tether wallet, including a mobile application.
In the case of some of the largest (by market cap) cryptocurrencies, you can also speculate on their price with CFDs. Those instruments are usually offered by major well-regulated forex brokers who provide the option for leveraged trading on their platforms. Tether, however, is not among those instruments for the time being.
How to Buy Tether or USDT Cryptocurrency Conclusion
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