How to Buy Tether (USDT) in Australia
Can I Buy Tether in Australia?
Cryptocurrencies form a large market where many traders take advantage of price variations. However, with volatility comes downturns in the market. This is where stablecoins come into play. In this case, Tether (USDT) can be used to jump into while your coin goes down. This gives you peace of mind while protecting your money, which is why Australian traders always buy this currency.
In order to buy Tether, you must have some wallet service with availability for said token, as we have in Easy Crypto Australia. There are wallets limited to only a few major cryptocurrencies on the market (such as Bitcoin, Ethereum, and Litecoin). Once registered you will be able to deposit your USDT tokens and carry out multiple transactions with a stable value.
The USDT funds in a wallet will make you feel like having Australian Dollars in your traditional bank account, because unlike other cryptocurrencies, if you have 100 tokens, you will always have roughly $100USD. From the wallet, you can send and receive USDT just by providing the amount and address of the receiving wallet.
How To Buy Tether in Australia?
Once you’ve signed up for Easy Crypto Australia you will have access to a USDT wallet that will provide you a USDT address within the platform. Other exchange platforms can be a little confusing for amateur users as their options and fees are more fitting for direct cryptocurrency trading, which require a certain experience level.
For this reason, acquiring a particular token using fiat money may be more viable on a local platform like Easy Crypto Australia, where you can exchange your AUD for Tether without further complications.
How To Buy Tether with Easy Crypto?
As you would in any other exchange, you must register on the Easy Crypto AU by platform by providing your email, a secure password and a confirmation by email to gain access to your account, which can be done in a minute.
After you have logged into your personal account, you must confirm your identity through a simple Know Your Customer (KYC) process to be recognized as a certified member of the community. When finished, click on the title “BUY & SELL” where you will decide which cryptocurrency you want to buy. In this case, you will choose Tether USDT.
Buying Tether is that easy, although our platform has guides and an active customer service that can make your purchase even easier. Additionally, each option will guide you to the next until you have USDT tokens available in your wallet.
What is Tether?
USDT is a stable cryptocurrency that was created with the intention that its owners could maintain their purchasing power. However, this cryptocurrency is also slightly inflationary, hardly to the point of incentivizing its owners to use it instead of keeping it safe.
Tether was initially launched on the Bitcoin blockchain. Subsequently, it switched to using the Omni Layer Protocol (an open source software) but continues to be anchored to Bitcoin. USDT is issued by Hong Kong-based Tether Limited. Tether Limited operates on the Omni protocol as a token issued on its network.
The previously mentioned Omni Protocol is a versatile platform that houses a series of digital assets and currencies anchored to the Bitcoin blockchain.
What started as a stablecoin became a currency that moves large amounts of money due to its universality and that its transaction fees are cheaper than those of Bitcoin when exchanging it with other cryptocurrencies (They can charge you between 0.01 USDT to 2 USDT, depending on the exchange). If you send USDT to another Tether wallet you will pay no fees.
Is Tether Legal?
Just like trading with the largest cryptocurrencies on the market, selling and buying Tether USDT is totally legal worldwide. In fact, the adoption of Tether has grown massively in recent years due to its multiple advantages and the variety of its uses.
Although it is known that IP blocks exist in some large exchange companies and trading services are limited to certain nations, acquiring Tether is allowed (and even encouraged) in Australia and the rest of the world.
Although the value of tether is anchored to a fiat currency, allegedly for a 1:1 relation, using this token as a saving method is still viable and allows you to take advantage of price variations among other cryptocurrencies.
How To Get Profit From Tether?
This is the interesting part of acquiring USDT, since being a stablecoin its value is set to never change, which means that acquiring a certain amount of USDT tokens will allow you to buy even more tokens from another cryptocurrency that has dropped in price.
We will explain it using an example; Let’s suppose that to buy 1 USDT you will have to spend 1.45 AUD. You just bought 100 USDT with 145 AUD. Checking the prices, you realize that Bitcoin just dropped from $11,000 to $10,000, so you buy 0.01 BTC (the BTC equivalent of your 100 USDT). If the price of Bitcoin increases to $11,000, you will be able to sell your 0.01 BTC for 110 USDT, which may be equivalent to 159.5 AUD. You will have obtained a profit of 14.5 AUD in such operation.
Because the crypto market receives multiple trend changes influenced by news, large investments, supply and demand, we can be sure that there will always be an opportunity to take advantage of these price variations using a stablecoin like USDT.
Why Do People Buy Tether in Australia?
Although we could consider AUD as a relatively stable value and exchange it directly when buying cryptocurrencies, Tether is a digital asset and can be traded easier between digital wallets than it can through traditional fiat currency banking.
Some of the advantages of buying Tether in Australia are:
- The ease with which you can take advantage of price variations to increase your USD (or AUD, if you decide to withdraw your earnings) income.
- The low transaction costs that Tether offers you and the speed of sending tokens (It takes approximately 30 minutes, while bank wire transfers can take days).
- Protect your investments from volatility in the crypto market by using a stable value in cryptocurrency.
Buying tether in Australia will even allow you to take advantage of the price gaps between the AUD and the USD, although the probabilities are extended in the crypto market through the price variations fluctuate more rapidly. Easy Crypto AU will allow you to acquire tokens using our platform to take advantage of its benefits at your convenience.