Tether (USDT) - is a stablecoin (the cryptocurrency with a stable value) that mirrors the USD current price.
USDT tokens were issued on the basis of the Bitcoin blockchain through the Omni Layer protocol in 2014. In addition to Bitcoin’s, USDT was later updated to work on the Ethereum, EOS, Tron, Algorand, and OMG blockchains. Each unit of USDT is backed by the US dollar, which is held in reserve by Tether Limited and can be obtained through the Tether platform.
We can say that Tether token is pegged to the US dollar (USD). USDT’s unique feature is the fact that its value is guaranteed by Tether to remain pegged to the US dollar. This makes the coin very popular in the market for the convenience of transactions, especially on platforms where there is no fiat.
But Tethers should not be perceived as a copy of the US dollar, the developers even insured themselves and noted that the token is not the “fiat money in its electronic version” in the project’s license agreement.
The main benefit of trading in pairs with USDT is that there is no need to calculate the price in other units, as in the case of trading other crypto-to-crypto pairs. In other words, converting BTC in USD, or trading, is very similar to what BTC to USDT trading is. You can efficiently buy Bitcoins in both currency pairs.
How it works?
How to Buy USDT with a credit card?
Since the cost of USDT is the equivalent of USD, the most popular purchase of an asset occurs precisely for US dollars.
At CEX.IO, you can buy Tether with your credit card in just a few clicks. The Instant Buy/Sell function of the platform allows you to get your cryptocurrency in less than a few minutes without involving third parties and additional payment services. Using CEX.IO Buy/Sell you can instantly buy more than 30 cryptocurrencies with your card.
It is also important to note the fact that CEX.IO calculates the price of the purchase and freezes it for 120 seconds, so you know in advance at what rate the operation will be made without any unpleasant surprises.
The detailed steps on how to buy USDT token:
Create an account or log in to the already existing;
Go to the Buy/Sell section;
Choose Tether as a cryptocurrency you want to buy;
Choose USD, EUR, GBP, or RUB as a currency you are buying USDT for;
The site provides precalculated packages for $200, $500, and $1000. Or you can specify both the amount of fiat that you want to spend or the amount of USDT that you want to buy;
Click on the “Buy” button;
Provide information about your card;
You are ready to buy Tether - finish the purchase.
It’s worth noting that you can use your bank card issued in your local currency. The sum will be converted to the currency you chose to pay (USD, EUR, GBP, or RUB) at your bank’s current exchange rate.
Another option is pay for the purchase using your available CEX.IO balance. For that you will need to fund your balance prior the purchase.
How to Buy Tether with a debit card?
Apart from a direct purchase of crypto with your card, you can make a deposit and buy cryptocurrencies by placing market or limit orders.
First, let’s break down how to make a deposit on CEX.IO.
What do I need for this?
Go to the Finance section;
Select the desired fiat currency. US Dollar, Euro, Pound Sterling, or Ruble;
Click on the 'Deposit' button;
Select replenishment with a card;
Select a card from the list or add a new one;
Specify the amount of the deposit;
Confirm the deposit.
Soon the money will appear on your account. Then go to the Trade section and buy Tether, for example, in the USDT/USD pair, or other pair according to the fiat currency you’ve chosen.
Where to buy Tether (USDT) token? How to choose a platform?
Of course, the main thing that a trader is interested in when choosing an exchange or platform is the ease of using the trading platform and additional benefits. It is important that the platform needs to be convenient for both buying, trading, and safe for storing tokens.
For more than 7 years of being in the cryptocurrency business CEX.IO has proven to be one of the best Bitcoin exchanges with more than 3 million users worldwide.
Looking for a reliable service to work with can be a complicated task. But it’s worth investing some time into research to find a platform with a positive reputation.
CEX.IO - is the cryptocurrency exchange designed not only for buying and selling cryptocurrencies. It also offers a variety of options to engage and make the most out of your crypto assets. You can earn additional income by staking your funds with CEX.IO Staking. Or you can use your crypto as collateral and apply for a loan. The list of services goes on, but you will also want to know the important benefits of the platform:
Variety of payment options;
High market liquidity;
Cold wallet for storing cryptocurrency;
Support around the clock;
Regulation in multiple jurisdictions.
and more. The team is working hard to provide the best trading conditions and hence your experience of interacting with the platform.
Start using CEX.IO and you will understand that this is exactly the service you were looking for.