Where to Buy USDT
Tether (USDT) is a peculiar coin. It is listed as #5 by market capitalization without having the same features as most cryptocurrencies – it simply sits at $1 with no volatility or rising potential.
It doesn’t mean there is no use for Tether. In fact, there are many different ways to spend USDT – but before you can spend it, you need to buy it. Continue reading to find out how to buy Tether (USDT) on Changelly.
What Is Tether (USDT)?
Tether is a stablecoin, which means it is designed to have a relatively stable price – in this case, it is US$1. USDT operates on the Ethereum blockchain (ERC-20).
Tether’s biggest selling point is that it combines the benefits of open blockchain technology and traditional currency and bridges the gap between digital and fiat currencies. Interestingly, USDT is involved in more Bitcoin transactions than the US dollar is.
How to Buy Tether on Changelly
We can’t provide instructions for fiat-to-USDT transactions since you can only get USDT with another crypto.
But the good thing is that Changelly allows you to purchase Tether in just several steps with any other cryptocurrency. The steps are similar to any other exchanger. The difference is that instead of using a credit/debit card or bank account, you’ll need to enter your crypto wallet address.
Here is a detailed description:
- Sign in or sign up.
- Locate the window to exchange/buy/sell currencies and pick “Exchange”.
- Enter how much USDT you want to purchase or the amount of another crypto you want to sell for USDT. The system will calculate automatically.
- With crypto transactions, you don’t need to select your country of residence, so just click “Exchange now”.
- Enter your Tether wallet address.
- Double-check all the information you’ve entered and proceed.
- In a few minutes, you’ll receive your USDT.
What Can You Use USDT For?
Tether is meant to be a store of value. As a “digital dollar”, it mostly acts as a seamless, cross-border transfer method, similar to what traditional currencies do.
There are two main use cases for USDT:
- Buy/sell other cryptocurrencies: If you want to purchase a cryptocurrency without moving your funds to fiat, USDT allows you to do that. It mitigates the sometimes unforgiving volatility of cryptos like Bitcoin and helps you avoid the hassle of withdrawing crypto assets.
- Make online payments: The number of e-commerce websites and payment gateways that accept USDT is growing each year. There is still a long way to go, but if you come across one of these services, USDT will be an excellent way to manage quick payments.
Should You Buy USDT?
Tether is surrounded by some controversies, most of which have to do with its USD reserves. Reserves are extremely important for a stablecoin. If the company doesn’t have them, they are essentially creating money out of thin air. Some critics suspect that only a small percentage of Tether is actually backed by cash.
It’s also important to point out that you can’t invest in USDT and expect a profit. It’s not supposed to increase in value – on the contrary, it’s meant to always stay the same.
Here is why you should buy USDT. USDT tokens are a great alternative to traditional deposit and withdrawal methods. Crypto-to-crypto transfers are much easier and have significantly lower fees. USDT allows you to bypass financial institutions and seamlessly move currency between exchanges and wallets. Just don’t keep your funds in Tether – it’s a good trading tool, not an investment.