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How to buy Tether in Australia with BTC Markets

  1. 1. Create

    Sign up and verify your free account.

  2. 2. Deposit

    Add AUD or crypto to your wallet using our secure methods.

  3. 3. Trade

    You’re all set. Buy, sell and trade crypto immediately.

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Why buy Tether (USDT)?

Tether (USDT) enables a smooth conversion between cryptocurrencies and fiat. It holds the top position in terms of market capitalisation as the most widely used stablecoin.

  • Stable value: Tether is a stablecoin pegged to the value of a fiat currency like the US Dollar.

  • Price consistency: USDT's value remains relatively steady, offering a hedge against cryptocurrency volatility.

  • Global acceptance: USDT is widely accepted on various cryptocurrency exchanges and platforms.

  • Liquidity and market dominance: Tether’s high liquidity makes it readily available for trading and transactions.

  • Market capitalisation: Current market capitalisation of A$128.88 billion, signifying the largest market value for a stablecoin.

  • Circulating supply: As of now, the circulating supply of Tether stands at 83 billion.

What is Tether (USDT)?

Tether (USDT) stands out as one of the pioneering stablecoin cryptocurrencies, tied to a fiat currency or real-life asset. Originally known as 'Realcoin' and founded in 2014 by Brock Pierce, Craig Sellars, and Reeve Collins, it was the first of its kind.

Unlike cryptocurrencies such as Bitcoin or Ripple, Tether's value is pegged to the US dollar (USD), and according to Tether, this ensures it remains stable and unaffected by supply and demand fluctuations. Tether achieves this by maintaining a 1:1 ratio with the USD through its Tether Reserves.

As the world's most significant integrated digital-to-fiat currency and one of the oldest stablecoins, Tether is widely used in various financial services. It is able to facilitate faster transactions for exchanging and depositing fiat currencies.

At BTC Markets, one of Australia's most reputable crypto exchanges, Tether (USDT) is among the many cryptocurrencies available for trading. With our platform, investors can access diverse markets and utilise our mobile app for on-the-go trading, providing instant updates on market fluctuations.

What makes Tether unique?

Tether is a unique stablecoin as it is pegged to the US Dollar, making it less volatile than other cryptocurrencies.

According to Tether, each token is backed by equivalent reserves of the fiat currency it represents which provides stability and is a preferred trading pair.

The technology enables fast fund transfers allowing users to "park" funds during trading. Tether's digital nature allows borderless transactions, circumventing traditional funding barriers.

Learn more about the features traders love or sign up for an account today!

How does Tether maintain a 1:1 ratio with the US Dollar?

Tether’s value is not determined by its demand. Instead, its value is maintained through a 1:1 ratio with the USD — $1 = 1 USDT token.

Tether controls the value of USDT in the Tether Reserves. Tether can maintain this ratio so long as the tokens are redeemed at $1 each and traders continue to trade their tokens regularly and provide steady and reliable liquidity.

How do you buy Tether (USDT) on BTC Markets?

Here's a general guide on buying USDT with AUD on BTC Markets:

  • Create an account: If you don't have an account on BTC Markets, you'll need to sign up and complete the necessary verification steps.
  • Deposit AUD: Deposit Australian Dollars (AUD) into your BTC Markets account using the available funding options, such as bank transfer or other supported payment methods.
  • Navigate to the trading page: Once your account is funded, go to the BTC Markets trading platform and find the trading pair for USDT/AUD.
  • Place an order: On the trading page, you'll see the order book with current buy and sell orders for USDT. You have the choice to buy at the current market price which is called a market order, or you can set a specific price to purchase at which is called a limit order.
  • Review order and confirm: Double-check your order details, including the amount of USDT you'll receive and the total AUD amount to be deducted. Confirm the order to execute the trade.
  • Check your wallet: Once the order is completed, you'll have USDT in your BTC Markets wallet. You can view your balance and transaction history in your account.

Frequently asked questions

How much Tether (USDT) can I buy?

BTC Market does not place a cap on the amount of Tether (USDT) you can buy. You may start from $15 and go onwards to buy up to $150,000 or more per day.

How do I store Tether (USDT) after I buy it on BTC Markets?

You can hold USDT on BTC Markets. We offer a managed service, so once you have bought USDT you may send, receive, and store your assets on our exchange.

How is the price of Tether (USDT) determined?

The price of Tether (USDT) is determined by the market supply and demand dynamics, with a goal to stay close to the value of the US dollar. Although Tether is claimed to be backed by US dollars, market conditions can lead to small price variations.

What do I do after I buy Tether?

Once you’ve been trading regularly and learned how to buy Tether, you’ll need to determine a way to store your new digital assets safely. Digital wallets are an increasingly popular choice among investors as they provide a seamless transition and are highly convenient. The two main types of digital wallets include:

  • Hot wallets — These are digital wallets that are kept on a browser or within an app. This is the more convenient option, as it keeps all your data and assets in one place — but it’s also the riskiest. Hot wallets can make traders more vulnerable to cybercrime. If you intend to store your Tether this way, be sure to read our security tips for keeping your assets safe.
  • Cold wallets — Cold wallets provide more flexibility, as data can be stored and taken offline. Traders opt to do this with a USB stick. This can also reduce your risk of being hacked or having your digital assets stolen. But it’s essential to remember that these are tangible. If you lose your cold wallet, you will also lose your purchased currencies.

As both options have their benefits, many traders choose to combine hot and cold wallets. However, your chosen solution should come down to your personal investment strategy.

Can I buy Tether with a credit or debit card?

If you are planning to buy USDT in Australia through BTC Markets, keep in mind we only support BTC and AUD payments via BPay and Osko.

How do I sell Tether?

If you wish to sell your Tether tokens, you can do so in your BTC Markets account. It is the same process as buying Tether but using the sell function.

Simply log into your account, scroll down to 'Sell’ form and enter the volume and price you want to sell your Tether for.

Once the order has been executed, check your BTC Markets account and your AUD will be reflected in the account.

Find out the latest Tether news

Network adoption projections
Informational

Network adoption projections

Read more - Network adoption projections
Check out more Tether blog posts
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