The cryptocurrency market offers a wide range of coins, tokens and altcoins. One popular type of digital asset is stablecoins. Crypto traders use them to hedge the risks created by the volatility of the cryptocurrency market. Stablecoins are also used for money transfers and advance payments for goods and services. Examples of stablecoins:
- USD Coin (USDC)
- TerraUSD (UST)
- Tether (USDT)
- TrueUSD (TUSD).
Tether was originally developed on the Bitcoin blockchain. It is a stablecoin, which means that the price of Tether is backed 1:1 by fiat money – dollars. Tether is the number 3 cryptocurrency in Coinmarketcap’s rankings, with a price of 1 USDT, a market cap of $67,7 billion and a daily trading volume of $64,7 billion (as of mid-September 2022).
Buying USDT Tether
USDT is one of the most popular cryptocurrencies and leading stablecoins and is traded on major cryptocurrency exchanges. It can be found on the popular Binance, Coinbase, WhiteBIT and KuCoin platforms. Trading cryptocurrencies for USDT can be useful if you want to maintain your investment or need to pay for goods or services with a stable asset whose price does not change in the next moment, as is often the case with crypto rates.
Tether price does not go up, so it does not make sense to draw any Tether price prediction. This is not a speculative asset, so there is no point in buying it in the long term. This asset is best used for hedging risk.
You can buy Tether USDT on the WhiteBIT exchange using your bank card. First, you have to register on the platform and pass KYC. You must verify your account if you want to buy digital assets with fiat money. Next, connect the card to your account and deposit the amount you wish to use to buy cryptocurrencies. Then go to the “Exchange” section and select USDT and USD (euro, hryvnia, or any other supported fiat). Pay the transaction fee (which is minimal in the case of WhiteBIT) and click “Trade”. In a few seconds, the USDT will be accrued to your account.