Where To Buy Tether Coin – Buy USDT Cryptocurrency With TheJingStock.com
Tether, otherwise known as USDT, is an interesting case product of the era of digital assets. Unlike Bitcoin and its alternatives, tether’s tokens are claimed to always be priced at $1 per coin. This concept that seemingly defied the core market principles left many people wondering what is tether coin, and actually led to controversies along the way.
However, the company has so far been able to fulfill all its promises, with the token remaining within the one dollar mark throughout most of its lifespan. And the token itself proved to be really useful for trading, with many people choosing to buy USDT instead of fiat currency when selling their Bitcoin.
Unfortunately, despite all its potential, the use of the USDT is still limited in some countries, leaving the local traders wondering how to buy Tether. In the United States, for example, you have to qualify as an ECP to use their platform. On top of that, the trading conditions offered by different services vary widely, which is especially important for large-volume deals.
To put it mildly, there is a lot to unpack about Tether, so here is a close look at where to buy tether coin, along with some key facts, principles of its operation, and insights into the strengths and weaknesses of USDT.
What is Tether (USDT)?
Tether, an altcoin that appeared on the market in 2015, spiked interest among people who buy and sell crypto on a regular basis. Such fame was not due to a novel application of the blockchain technology but rather due to Tether coin price. Tether is a type of cryptocurrency called a “stablecoin” which, in plain language, means that the conversion rate from USDT to US dollars (USD) is one USDT to one USD.
If you are familiar with the essentials of cryptocurrency/the blockchain technology and fiat currencies, you should spot the problem by now. A one dollar coin will only be worth one dollar in fiat currency, so what’s the point? Well, USDT is a stablecoin, so the focus here is on Tether coin security.
Buyers can be certain that tether coin what is it always $1, which means they will never lose their money. This allows you to freely buy or sell USDT for dollars from Tether at any time without risk.
At this point, this coin with the value of one US dollar seems to defy the main rule you learn as soon as you buy the cryptocurrency or fiat currency: If it sells, its price goes up. How come, then, that it is able to resist the forces of the tether coin market? Why does tether coin hardly move?
Shouldn’t the USD part of the tether coin abbreviation be concerning? Is tether coin backed by USD or something? Most importantly, is it worth buying Tether, or will it disappear among other Bitcoin alternatives?
According to the company behind the coin, every tether is also 1-to-1 pegged to the dollar, so 1 USD₮ is always valued by Tether at 1 USD. Basically, Tether (USDT) is a cryptocurrency that uses the credibility of fiat currencies like the US dollar or the Euro so that USDT crypto remains a 1 dollar coin as long as it needs to.
During Tether’s development, concerns were raised by the experts regarding Tether coin legality. The company has since put forward a plan for an audit that would confirm the stability of tether coin.
About the Tether coin – One Dollar Coin
Once enough people found out about the dollar-pegged token known as tether, or USDT, the minds quickly shifted from “whats the point of tether coin?” to “where to buy tether?” And as soon as there are enough people looking for the best place to buy, sell, trade, and hold USDT easily, somebody will respond to the demand. USDT provides a low fee for crypto-to-fiat and fiat-to-crypto currency transfer, so exchanges were happy to add USDT pairs to their lists.
Currently, USDT is available on several crypto exchanges, so buying Tether for everyday use is not a problem. On top of that, tether currency has an interesting property that drives the USDT trades – it is not fiat currency. This means you can buy US tether coin for Bitcoin without having to comply with fiat limitations. Trading to USDT is just another crypto-to-crypto deal, so there is no regulation involved.
This opportunity was quickly recognized by developers of multi-currency digital wallets – wallet types for storing USDT along with other cryptocurrencies. This simple move allowed tether (USDT) digital wallets to exchange to USDT without messing with fiat currencies directly. Simply put, a digital wallet that supports USDT offers a few payment methods without verification, which is always a welcome feature.
What drives the USDT price?
As crypto Tether earns its place among other digital currencies, the volume of USDT in circulation grows accordingly while its price remains firmly in place. Occasionally, however, there are minor fluctuations in the USDT prices that correlate with trading activity on the crypto market.
This raises several questions. Does the tether coin appreciate in value after all? If it is indeed backed by the fiat currency, why does its price change as people are using tether coin? Who is responsible for Tether coin price, and can they be trusted? As always, the answer to these is complex, so we’ve broken it down into four main factors:
- Reserves: This is the main reason you can always buy or sell your USDT for the same price, sort of (more on that later). Think of it as a banknote backed by gold: as long as there is enough USD to be converted to Tether in the company reserve, its price will remain stable. The company claims that Tether (USDT) is backed by various assets, including fiat currency such as USD or EUR, cash equivalents, and loan receivables.
- Demand: No matter how robust the backing scheme is, once enough people buy USDT, its price will grow. The most dramatic example of this occurred in 2018, with a dramatic 10% drop in the price of the coin. The company officials have responded by stating that there was nothing wrong with their reserve, so you could still exchange USDT for USD. The price has since recovered, and you can buy USDT online at its regular rate. However, it is clear that the USDT coin is not exempt from market forces.
- Trading: We can see this effect if we look closely at the price charts of major cryptocurrencies. The easiest example is Bitcoin because BTC and USDT charts correlate really well. Each time bitcoin’s price tanks, people buy USDT for it, so tether coin grows around 1-2 percent. Once BTC stabilizes, traders sell USDT, and we see a drop on a chart. Of course, it pails in comparison to wild fluctuations of other cryptocurrencies but is still a force to be reckoned with.
- Trust: No matter how big the reserves are, they only help as long as people believe in USDT coin. Sometimes all it takes to discourage everyone from buying Tether is a lack of a definitive answer to the question, “Is Tether coin safe?” In 2017, after a huge theft of tokens, the company had to announce an emergency hard fork, which raised concerns that two types of tethers will appear. Fortunately, the number of Tether currencies is still one. However, a similar event could prompt a massive depletion of reserves as buyers hastily convert their Tether coin to USD.
Best way to buy or sell Tether coin on OTC market
As you remember, USDT is mostly used on cryptocurrency exchanges. There, it acts as an alternative to fiat currencies for trading pairs. On top of that, some people buy tether coin because it has one of the cheapest and fastest withdrawal methods. Essentially, Tether (USDT) is used as a utility token rather than an asset.
However, this does not mean it has nothing to offer to investors. In fact, the purchase of a USDT is among the most promising payment options when it comes to cryptocurrency trading. The ability to exchange USDT for fiat easily provides additional liquidity to assets. However, buying a large amount of USDT on an exchange is complicated by withdrawal and trading limits. A much better option is an OTC desk. Here are just some of the advantages it offers:
- Liquidity: OTC desks specialize in large-scale deals, so their order books typically contain big offers. Trying to execute an order of such size on USDT best exchanges may empty their books completely.
- Privacy: Trades on OTC desks occur between buyers and sellers directly, and their details never become public. If you want to purchase USDT privately and discretely – this should be your method of choice.
- Low Fees: Trade and withdrawal commissions on exchanges don’t look like much but try to apply them to a million-dollar worth transaction, and you will end up with a large sum. OTC desks, which deal with million-dollar trades on a daily basis, can keep their fees much lower.
The procedure of buying and selling USDT on OTC market in the United States
In the US, the main way to buy USDT is the same as in the rest of the crypto market – online. One possible concern is its legitimacy, which can be settled by looking into how, where, and when did tether coin start. The cryptocurrency itself was developed by a Hong-Kong based company with the goal of becoming a legitimate payment option. Some countries have since fully embraced Tether crypto, while others have limited its use.
The United States is in the latter category, restricting it to Eligible Contract Participants (ECPs) only. Simply put, before you ask, “Where to buy Tether coin?” you should check whether you qualify as an ECP. Other than that, there are no restrictions on purchasing USDT. Many exchanges available in the US list it among their trading pairs, and some seem to prefer it to fiat.
Buying USDT with TheJingStock.com
Newcomers to the OTC market segment will discover that it works somewhat differently from exchanges. In reality, the differences are superficial and actually work in favor of OTC trading, making it one of the easiest ways to cash out USDT. Here is a three-step breakdown of the procedure using TheJingStock.com as an example.
Fill our form to initiate USDT purchase on the OTC market
The first step is to tell us what terms you would like to buy or sell your USDT. To do this, you will need to fill out a form specifying the desired amount, the fiat you prefer using, and the withdrawal method of choice (in our case, you can buy USDT with ZAR, EUR, NGN, GBP, AUD).
Note that you will also be asked to provide documents that confirm your identity. This may look concerning but is actually required to comply with the company’s know-your-customer (KYC) process. The form may seem lengthy, but the good news is once you fill it in, the rest of the work is done for you.
Our specialist will contact you
Once we review your form and clarify all minor details, we send your offer to our expert who searches the order book for matching counteroffer. Once a suitable match is found, the specialist will reach out to you via your preferred communication channel and show you the offer. If you are happy with what you get, you can skip straight to the next step, and you are done.
Occasionally, there will be no suitable orders, so the broker will instead offer the next best thing in the book. You can then decide whether it suits you and negotiate a better deal. In this case, our specialist will also help you achieve the best possible terms. Once it is done, you proceed to the final stage.
Purchasing Tether coin (1 dollar coin)
As soon as both sides are happy with the terms, the deal is closed, and each party receives their funds. Tether tokens will arrive in the wallet address within minutes (as is common for cryptocurrencies), while fiat will travel the speed of financial institutions’ operation. By now, the answer to “Why buy Tether coin OTC?” should be obvious: the entire process is simple, fast, and guided by experts when necessary. All in all, you can receive the best possible price on a million-dollar-worth purchase while being charged only a minimal fee.