The crypto market offers a variety of coins, tokens, altcoins, etc. A popular type of digital asset is stablecoins. Crypto traders use them to hedge risks caused by the crypto market volatility. Also, stablecoins are used for transferring funds and proceeding with payment for goods and services. Now that the crypto market has dropped, many investors convert their crypto savings to stablecoins to maintain their value in a more stable asset.
Examples of stablecoins:
- USD Coin (USDC)
- Tether (USDT)
- TrueUSD (TUSD)
- TerraUSD (UST)
Tether was initially engineered on the Bitcoin blockchain. It is a stablecoin, which means Tether price is backed by fiat – dollar in a ratio of 1:1.
Purchasing Tether USDT
Being one of the most popular crypto assets and the leading stablecoin, USDT is traded on all large crypto exchanges, says CNBC. You will find it on popular Binance, Coinbase, WhiteBIT, KuCoin, etc. It is convenient to convert crypto to USDT when you want to maintain your investments or need to pay for goods or services with a stable asset that will not change its price the next minute, as often happens with cryptocurrencies.
There’s no point in buying Tether long-term because its rate will not grow. This asset is better to use in trading to hedge risks.
You can buy Tether USDT on the WhiteBIT exchange using your bank card. First, register on the platform and pass KYC. Verification is necessary if you want to purchase digital assets with fiat. Next, attach your card to your account and deposit the amount you want to spend on buying crypto. Next, go to the “Trade” section and pick USDT and dollar (euro, hrivna, etc.). Pay the transaction fee (which is minimal on WhiteBIT) and click “trade”. UDST will be accrued to your account in a matter of seconds.