Would you like to jump straight to the answer? You can buy USDT from Kraken and BlockFi.
Tether (USDT) is a cryptocurrency that is pegged to the US dollar (USD). Tether is a stable coin, which means that it is tied to an underlying asset. In this case, 1 tether token is tied to 1 USD, which is held in the tether reserve. Tied assets can be held in cash or in the form of loans to affiliated companies. This offers investors a greater degree of stability in their investments as the price of tether rarely drifts very far from a value of $ 1. This makes Tether a popular intermediate coin for investors who trade different cryptos on a daily basis and want to keep a stable coin in their wallets between trading sessions.
From stablecoins like Tether and USD coins to smaller altcoins like Chainlink and Monero, there are thousands of promising cryptocurrency projects on the horizon that may offer investors opportunities. Our guide will help you learn more about how to invest in the cryptocurrency market, where to store your tokens, how to decide when to sell, and much more.
Is Tether a Good Investment?
You can use tether as a dollar substitute and use it between exchanges or individuals. There is no longer any need to move money through a bank. Tether is easy to buy and sell and can be found anywhere you would normally buy cryptocurrencies. Tether is a great option if you think investing in the stock market is risky.
Step 1: Open an online account.
The first step in buying or selling a cryptocurrency is usually to open an account with a broker that will support market access with the coin or token you are interested in. Crypto brokers work almost identically to stock brokers in that a crypto broker is authorized to buy and sell coins on your behalf.
The broker you choose will determine your trading experience. Here are some features to consider when considering which broker to work with:
- Trading platform: If you are a new investor, you may prefer an optimized experience. If you are an advanced trader, you might want a trading platform with a wealth of charting and analysis tools.
- Asset access: Although most cryptocurrency brokers allow you to invest in major cryptos like Tether and Bitcoin, each broker chooses their own list of altcoins. Before choosing a broker, browse the coin offers to make sure you can invest in all of the cryptocurrencies that you are interested in.
- Fees and commissions: Some brokers may charge a fee or commission on your cryptocurrency purchases. Be sure to read up on each broker’s fee schedule to see what you pay for every buy or sell order.
Not sure where to start your search? Consider two of our favorite options that provide access to Tether.
BlockFi
BlockFi’s mission is to give its customers the ability to earn interest, borrow cash, and trade crypto from the most trusted financial services providers in crypto. And there are several ways that BlockFi puts itself in front of similar services.
It’s an independent lender, but BlockFi clients benefit from the support of financial giants like Fidelity and SoFi. This means that you have a list of products at your disposal that is on par with a large corporate bank.
BlockFi goes a step further to protect its customers by complying with US law and financial regulations. It remains independent to provide the best prices, but works with established institutions to ensure that your crypto assets are consistently performing at their best.
The diversified approach means that your assets are safe. BlockFi guarantees that you will always have easy access to your funds as it is secured by a large amount of collateral.
Account minimum
Depends on the asset
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If you are looking for a wider range of coins to choose from, consider opening your account with Kraken. Kraken lets you buy and sell 50 cryptocurrencies, including big names (like Bitcoin and Litecoin), altcoins (like Chainlink, Tezos, and Yearn Finance), and stablecoins (like Tether and USD coins).
In addition to a larger selection of coins, Kraken also offers a tiered fee structure that is cheaper than Coinbase for large investors. Kraken also has a full-time team of customer service representatives who can assist you with account support 24/7.
Step 2: buy a wallet.
After you’ve chosen a broker and opened your account, it’s time to choose a wallet. A private wallet is a service or physical device that gives you a set of private keys that you can use to keep your coins or tokens safe. There are two main types of cryptocurrency wallets:
- Hot storage: Hot wallets are digital cryptocurrency wallets that are connected to your desktop or mobile phone. Hot wallets must be connected to the internet in order to access your coins.
- Cold storage: Cold wallets are physical devices that keep your cryptos offline. While cold storage wallets do not offer access to as many coins as hot wallets, cold storage offers you the maximum possible level of security for your investment.
We recommend keeping your coins in a physical cold wallet, which offers great support compared to hot wallets. Explore some of our favorite cold wallets below.
Best for Affordability: Ledger Nano S.
Most cold wallet options cost well over $ 100, which may not be possible for all investors. If you’re looking for a safe way to store your coins without breaking the bank, consider the Ledger Nano S. The Nano S is one of the most popular cool wallets with sales of over $ 1 million. It’s also a very affordable option, priced at only $ 51 when you buy through Amazon.
Best suited for touchscreen access: SecuX V20
SecuX V20 – The most secure crypto hardware wallet with Bluetooth – cross-platform – Easily manage Bitcoin, Ethereum, ERC-20, Ripple, BTC, ETH, LTC, BCH, DGB, Dash, BNB, DOGE, XLM and more
$ 139.00
SECURE – The SecuX hardware wallet has a comprehensive range of security functions, from the protected production chain and tamper-proof packaging to the CC EAL 5+ -certified security element for military purposes to securely read your assets. More
(As of April 5, 2021 – further informationProduct prices and availability are correct as of the date / time indicated and are subject to change. All price and availability information is displayed on [relevant Amazon Site(s), as applicable] at the time of purchase applies to the purchase of this product.)
The SecuX V20 wallet is another popular choice and has support for Bitcoin, Ethereum, Tether, and any ERC-20 tokens you might own. The SecuX V20 has a 2.8-inch color touchscreen that allows you to track and manage your coins on the go, without having to connect to a desktop computer. The SecuX V20 also has a simple, optimized user interface that makes navigation easier for beginners.
Step 3: buy one.
After you’ve selected a wallet and topped up your brokerage account, it’s time to place your first order to buy Tether. As with buying a stock, your crypto broker will likely offer you a number of ordering options that allow you to control the price you pay for each coin. Some common job types are:
- Market orders: A market order tells your broker that you want to buy a set number of tether coins at the current market price. When you place a market order, you are not listing the price at which you want to buy each coin. Your broker will fulfill the order at the price that Tether is currently trading at. Market orders are more likely to be executed than other types of orders, but you cannot control how much you pay for each coin.
- Limit orders: A limit order tells your broker that you want to buy a set number of tether coins, but only at a certain price. For example, you can set a limit order to buy 100 tether for $ 0.99. Your broker will only fulfill your order if it is possible to buy each coin for $ 0.99 or less. If the price goes above $ 0.99, your broker will not fulfill the order. Limit orders are less likely to execute than market orders, but you can use them to control how much you pay for each coin.
After you’ve placed your order, your broker will take it over and fill it out according to your instructions. You will see your coins in your wallet after your order is complete.
Trade or sell your cryptocurrency
Tether is different from most cryptocurrencies because it is tied to an underlying asset. One of the main reasons Tether appeals to investors is that it rarely moves from a value of $ 1. This means that keeping tether on long term is usually not beneficial.
The price of tether rarely moves away from $ 1.
Most investors use tether as an intermediary cryptocurrency. Let’s say you want to buy Chainlink in fiat currency. After your order is complete, the price of Chainlink goes up and you decide that you want to sell your coins. It is often cheaper to convert your Chainlink tokens to Tether than to return directly to fiat currency. You can then keep your tether in your cooling wallet if you think you might not want to shop for a while.
If you want to trade between Tether and another cryptocurrency frequently, you need a fast, responsive broker. Browse some of our top deals below.
Current crypto prices
Tracking how cryptocurrency prices change will give you a better idea of the best time to buy or trade. Browse through some of the top movers in the market today.
Invest with less volatility
While Tether is significantly less volatile than other major cryptocurrencies, that doesn’t mean that investing in Tether is a guarantee that you won’t lose money. Tether’s team was recently targeted by the Commodity Futures Trading Commission, the U.S. Department of Justice and the New York attorney general, who opened investigations into Tether’s link to the price of Bitcoin. If you do decide to invest in Tether, it should only be used as an addition to a fully diversified portfolio of stocks, bonds, and funds.
Gemini develops crypto products that you can use to buy, sell and store bitcoin and cryptocurrency. You can buy bitcoin and crypto instantly and have a clear, attractive interface with all the tools you need to understand and invest in the crypto market. The Gemini Crypto Platform offers great options for account management. You can manage your account at a glance, view your account balance 24-hour changes and percentage changes. Get started with Gemini now.
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