How to buy Tether (USDT) in Australia

Australia stands as a global pioneer in cryptocurrency adoption, with an impressive 4.6 million citizens owning digital assets, ranking it third worldwide. While Bitcoin (BTC), Ethereum (EHT), and Binance Coin (BNB) dominate the market with their substantial market capitalization, the cryptocurrency landscape offers diverse opportunities. 

Tether (USDT), a stablecoin pegged to the US dollar, has gained significant traction. In this guide, we walk Australian enthusiasts through the process of acquiring Tether (USDT) securely using the trusted CEX.IO platform.

What is Tether (USDT)?

USDT, or Tether, is a type of cryptocurrency known as stablecoin. Launched in 2014, it was designed as an alternative to fiat currencies for those who wish to avoid traditional banking systems. 

As opposed to other digital currencies like Bitcoin or Ethereum, which are highly volatile, USDT is pegged to the US dollar, allowing it to maintain stable value. This is possible because USDT is backed by reserves held by Tether Ltd, a company that developed USDT. These reserves include cash, cash equivalents, and other assets. 

As such, USDT is widely accepted across various exchanges, inducing CEX.IO and other crypto-related platforms, allowing users to seamlessly move funds and trade between different cryptocurrencies. Below, we explain how to buy USDT in Australia on CEX.IO. 

Step-by-Step Guide: How to Buy USDT in Australia

Australian enthusiasts can choose multiple avenues to acquire USDT on CEX.IO. Experienced Aussies can obtain Tether through Spot Trading by trading this asset against other fiat and digital currencies using our user-friendly price charts. 

On the other hand, those looking to buy USDT beyond trading can utilize Instant Buy. This functionality is available across web browsers and mobile devices and allows eligible users to seamlessly connect their favorite payment method with the free CEX.IO crypto wallet. 

Below, we outline the steps for purchasing USDT via Instant Buy: 

1. Register with CEX.IO and verify your identity to unlock the full functionality of our platform. 
2. Navigate to Instant Buy from the dashboard or find it under the Products menu. 
3. Choose USDT as your preferred cryptocurrency from the list of vetted assets. 
4. Elect the fiat currency you wish to use for acquiring USDT. Currently, we support USD, EUR, and GBP. 
5. Specify the amount you want to allocate towards purchasing USDT. 
6. Choose your preferred payment method from the list of available funding gateways. 
7. Follow the on-screen instructions to complete the USDT purchase. 

Payment methods

When it comes to acquiring USDT and other listed assets on our exchange, verified customers can choose between multiple pathways. Credit and debit cards are among the most popular and intuitive gateways for purchasing crypto on CEX.IO.

Beyond that, we offer other funding methods, including:

• Bank Transfers
• Skrill
• Neteller
• PayPal
• Apple Pay
• Google Pay
• MoneyGram

Additionally, it's good to know eligible Aussie users can also use other payment methods that seamlessly integrate with our credit/debit card and bank transfer functionalities, like:

• Payoneer Card
• Revolut Card
• Interac
• Wise (formerly Transfer Wise)

Disclaimer: This is a general guide. Keep in mind that some payment methods may be unavailable in certain jurisdictions due to varying regulations. We encourage Australian customers to conduct thorough research and explore available payment methods within their respective jurisdictions prior to purchasing on CEX.IO. 

FAQs

How to find the best way to buy USDT?

Finding the best way to obtain USDT requires thorough research. Curious participants should consider various factors such as fees, exchange rates, supported payment methods, security and regulatory compliance. For those looking to acquire USDT through CEX.IO, we recommend checking out our step-by-step tutorial outlined above. 

How long does it take to buy Tether?

There's no specific time frame when buying USDT, as the processing time depends on various factors, including the time one needs to register and the selected payment method. When it comes to buying on CEX.IO, interested parties should bear in mind that both registration and verification take under six (6) minutes to complete. Having ID and passports readily available can significantly expedite the verification process. Also, purchasing USDT with credit and debit cards is typically faster than bank transfers, which can take between 2-7 business days, depending on the chosen bank. 

How to find the best app to buy USDT in Australia?

Conducting thorough due diligence is paramount when finding the best mobile app for purchasing USDT in Australia. Curious participants are advised to look for trusted sources. User reference and app ratings on mobile stores are lacmus tests for crypto mobile applications. For example, the CEX.IO mobile app has a 4,4 out of 5 rating on Google Play, with over 260,000 votes, which may indicate a positive user experience. 

Where to buy USDT in Australia?

Aussie enthusiasts should purchase USDT on regulated and licensed crypto platforms. For example, the CEX.IO exchange operates according to Australian crypto regulations and, as such, can accept participants from this country. Nonetheless, Australian crypto aficionados are advised to conduct their own due diligence and find the best solution that fits their goals and financial appetites. 

What are the fees for buying USDT?

Purchasing USDT on any exchange may incur fees. However, this depends on the platform's fee structure and the chosen payment method. For example, buying USDT with a credit card may involve higher fees than bank transfer transactions. 

Do I need a USDT wallet?

As one can imagine, having a crypto wallet, either hot or cold, is necessary to obtain any cryptocurrency, including USDT. However, getting a cold (non-custodial) wallet may incur significant costs. On the other hand, by registering with CEX.IO, eligible customers receive a complimentary custodial wallet, which allows them to buy, sell, trade, and store USDT, as well as other vetted assets on our platform. Ultimately, it is up to individuals to select the storage method that suits their needs the most.