What is Tether (USDT)? and How to Buy Tether?

What is Tether (USDT)?

Tether (USDT) is a stable cryptocurrency pegged to the US Dollar at 1:1, i.e. 1 USDT = 1 USD. Compared to other crypto coins, its volatility (volatility) is almost non-existent, so we can call it a store of value.

Tether, the (USDT) cryptocurrency is traded on the blockchain linked to the ERC-20 protocol. The Tether (USDT) cryptocurrency was launched by Tether Limited in 2015. It is the most widely used stablecoin.
 

How to Buy Tether (USDT)?

To buy and sell Tether on the Icrype Cryptocurrency Exchange:

  • First of all, you need to become a member of our site by filling in the name-surname, telephone and e-mail address sections from the “New Membership” button.
     
  • After completing your membership transactions, you can load TL balance first from your bank account by clicking on the “Deposit” section, and then through your bank or Papara payment account  . You can also start trading by sending your Tether to the Tether wallet you created in the my assets section.
     
  • For investments you will make through the bank, you must write Icrypex Bilişim A.Ş. in the buyer/title field. Transfers sent with a different, incorrect or incomplete recipient name are rejected by the bank. 
     
  • The transaction description code in the deposit section should be noted to be written on the receipt. Your transfer is carried out through the current TL accounts registered in your name.
     
  • After loading a TL balance into your wallet, you can buy Tether by placing a buy order after entering the amount of Tether you want to buy by entering the amount of Tether you want to buy and selecting the “Easy Buy” button and selecting the exchange rate.

Once you’ve made your Tether purchase, you can evaluate your investments by following market conditions. At Icrypex, you can quickly trade Tether with your 24/7 customer representative, daily and weekly analysis support, and perform your transactions safely.
 

How to store Tether (USDT)?

For online wallets, you can first use the online Tether wallet, which is provided by the Tether company itself. Wallets traded through Omni Wallet can be used to make transactions over the Omni protocol.  You can use Ethereum wallets that support ERC20 tokens to make transactions on the Ethereum network. Cold wallets can also be preferred.

 

How Did Tether Come About?

Tether’s history actually goes back in time compared to other cryptocurrencies on the market. The crypto money, which first appeared in 2014 under the name Realcoin, entered the process of rebranding in 2015. In the process, it took its current name, Tether (USDT). It is a product of Tether Ltd, a company established in Hong Kong.

 

Tether’s Origin

Tether is actually a tool that makes it easier to trade with dollars in the crypto money market. For cryptocurrencies, which fluctuate very quickly in price, Tether also aimed to protect investors and traders from market volatility.

 

How Does Tether Work?

In order to have a reliable structure and to prevent the issuance or withdrawal of crypto systems, we see that it is produced on the “Omni protocol”, which is known as a protocol with open source code that interfaces with the Bitcoin Blockchain. It is also created as an “ERC20” smart contract on the Ethereum network. Tether is collaborating with “Tron” to launch USDT as a TRC-20 token following the Bitcoin Blockchain and ERC20 applications. They say that with the ERC-20 base, USDT can transact with all Tron-based protocols and decentralized applications. Finally, it started to be traded on the EOS Blockchain.

 

Tether Mining 

There is no mining system in Tether. So it is not possible to mine Tether. Instead, the Tether company launches cryptocurrency for $1 per Tether.

Advantages of Tether

  • Tether is a real money-backed cryptocurrency.
     
  • Since Tether is equal to 1 USD, making transfers made with Tether in dollars will save you from the extra money transfer fee.
     
  • It has become an indispensable option in everyday transactions and trading.
     
  • Tether can be exchanged for US Dollars one-to-one.
     
  • Price volatility in Tether is almost non-existent.
     
  • Hong Kong-based Tether Limited is thought to hold as much USD as the amount of USDT in circulation. In other words, the company acts as a trusted third party.
     
  • It offers the opportunity to trade in Dollars on crypto money exchanges.
     

 

 


Create an account

Now create an account where you can use your knowledge.