Top Reasons to Invest in Tether (USDT) in Australia
What is Tether (USDT)? And how does it work? Tether is a stablecoin, a cryptocurrency with a price equivalent to that of fiat currency (USD,.
What is Tether (USDT)? And how does it work?
Tether is a stablecoin, a cryptocurrency with a price equivalent to that of fiat currency (USD, in this case). It is pegged to the US dollar and maintains a 1-to-1 ratio with it in value terms. Tether is in fact the most popular stablecoin in the world, and it even acts as a substitute for the dollar on popular exchanges like Bitfinex and Poloniex and ranks 9th among the cryptocurrencies with the largest market capitalization (around USD 6.41 billion). If you are looking how to invest in Tether (USDT), you came to the right place.
Tether was originally created to use the Bitcoin network as its transport protocol, specifically, the Omni layer, to allow traditional “tokenized” currency transactions. Since this original version of Tether uses the Bitcoin blockchain, it inherits the inherent stability and security of the older established blockchain network.
Now there is a newer Tether transport protocol, on the Ethereum blockchain as an ERC20 token. This is why it can be sent to any Ethereum address like any ERC20 token.
Tether’s main objective is to provide liquidity and hedge against volatility in the crypto market. Tokens are pegged to a fiat currency, meaning there should be no loss of value or volatility as with other cryptocurrencies.
How is Tether (USDT) doing in Australia market?
If you want to invest in Tether (USDT) here, in Australia, there are some pairs that you can use to trade this stablecoin. Like the other countries, Australia has a high trading volume in the BTC / USDT market, as this is one of the most coveted pairs in the crypto market. ETH / USDT is also very popular and is constantly fluctuating, providing excellent opportunities to generate profits using a stablecoin.
Furthermore, the Tether market in Australia can also establish a relationship between the value of the USD (whose unit equals 1 USDT token) with the AUD. It has been proven that although the value of tether is stable and goes hand in hand with each US Dollar, some of its decimals can vary, which could also allow taking advantage of these variations by buying and selling the necessary amounts with AUD.
Why should I invest in Tether (USDT)?
Tether is a great way to protect yourself against the volatility of cryptocurrencies in spot markets. For example; Suppose we have bought $500 and Bitcoin price falls to $10,000. With these funds, we can acquire 0.05 BTC and if the price increases to 11,000 USDT, the profits obtained can be withdrawn by buying Tether again (50 USDT in this case, to be exact).
Beyond trading and investing, Tether is a great way to save crypto funds and get them ready to trade internationally at extremely low commission rates and in some cases, free. Remember that BTC transactions require a miner fee, which will cause less money to arrive than you sent or to be deducted before being sent. In the other hand, USDT tokens can be sent to any USDT address faster and way cheaper.
Tether makes it easy to transfer real cash to digital cash. It is also faster to convert into cryptocurrencies than a regular fiat. Tether also allows you to buy cheap cryptocurrencies when the market falls.
Liquidity is a key aspect of anyone with capital. You must be able to move your money to make investments. If you decide to invest in a cryptocurrency whose price turns against your market analysis, this will prevent you from changing those tokens to other currencies because you would be assuming a loss that could turn into a profit. For that reason, buying Tether solves the problem of low liquidity in user accounts in the crypto community.
How to start investing in Tether (USDT) in Australia?
Buying Tether is as easy as buying Bitcoin or another cryptocurrency can be. However, we recommend a local platform like Easy Crypto AU for Australian residents.
To buy at Easy Crypto we must register and meet a series of KYC requirements to verify your account and recognize you as a trusted member. Once you have been verified, you can start buying the tokens available on the platform with AUD through bank wire transfers.
The Easy Crypto wallet not only has space for Bitcoin and Tether, since it also supports the storage of different tokens (EOS, ETH, LTC, BAT …). It should also be noted that you can make swaps within the platform to exchange cryptocurrency cradle with another.
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Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated November 23, 2021