Buying and converting USDT (Tether)
Best USDT Trading Brokers 2024
How to trade USDT (Tether)?
You've probably heard all the success stories of people who have amassed millions of dollars from the soaring value of crypto-currencies like bitcoin. Or maybe you have acquaintances who mine crypto-currencies for a living.
However, you may want to stay away from the volatility of the crypto-currency market. In this case, you might be interested in buying USDT, a crypto-currency whose value is tied to the dollar. You can exchange one USDT for 1 dollar, which implies that you can combine the efficiency of crypto-currencies with the stability of the official currency. To learn more about USDT and how to buy Tether, read on.
Tether (USDT): What is it?
- Stablecoins are digital assets built on the blockchain that are tied to the value of fiat currency.
- USDT's ability to support stablecoin has been the subject of much debate.
- USDT can be transferred, backed up, and used like any other crypto-currency.
The History of USDT
- Tether was launched in 2014 by Brock Pierce, Reeve Collins, and Craig Sellars.
- Tether trading became available on Bitfinex in January 2015.
- Questions about the reliability of Tether Limited's reserves have been raised over time.
How does Tether work?
- Tether crypto-currency is spread across major blockchains and aims to maintain a 1:1 ratio with the US dollar.
- Tether Limited holds reserves to back up the tokens it creates.
- Questions have been raised about the reliability of Tether Limited's reserves.
Where can I buy USDT?
Most crypto-currency exchanges offer USDT for purchase. You need to choose an exchange, like Plus500, that trades ether and is authorized to operate in your country.
What are the best USDT trading strategies?
An effective trading strategy can reduce financial risk. It prevents you from making hasty decisions that could end up costing you a lot of money.
Day trading
The goal of day trading USDT is to enter and exit a market position on the same day within trading hours.
Average Cost Per Dollar (ACD)
The ACD strategy allows traders to benefit from market advances without putting their assets at risk by investing a predetermined amount of money at regular intervals but in small increments.
Scalping
Scalp traders take advantage of USDT inefficiencies by making profits through a higher volume of trades.
3 Best Brokers for Trading/Buying USDT
- Pepperstone - Best Overall Broker for Trading USDT.
Pepperstone is highly regarded for providing a robust trading environment for USDT traders. With competitive spreads, advanced trading tools, and fast execution speeds, Pepperstone stands out as an excellent choice for both novice and experienced traders.
- Plus500 - Best Broker with Multiple Licenses.
Plus500 offers a secure and user-friendly platform for trading USDT. With numerous regulatory licenses and strong investor protection measures, Plus500 is ideal for traders seeking a reliable platform for various financial instruments.
- XM - Best Platform and Excellent Brokerage for Beginners.
XM excels by offering extensive educational resources and practical online workshops to support USDT traders. Its user-friendly interface and comprehensive support make XM a great choice for beginners.
Pepperstone
Pepperstone offers a wide range of trading instruments, including USDT. Their focus on tight spreads, fast execution, and advanced trading platforms makes it an excellent choice for USDT traders.
| Licenses | CySEC, BaFin, FCA, SCB, CMA |
| Minimum Deposit | $0 |
| Trading Platforms | MT4, MT5, cTrader |
| Asset Coverage | Forex, Commodities, CFDs, Cryptocurrencies, Indices |
| Customer Support | 24/5 |
| Account Types | Standard, Razor, Swap-free |
Cons
- Limited support for lesser-known instruments
Pros
- Low spreads for cost-effective trading
- High-speed execution to capitalize on market movements
- Advanced analytical tools for strategic planning
Plus500
Plus500 is a trading platform focused on providing investment services for USDT traders. It features an easy-to-use interface and powerful trading tools, and is fully licensed and regulated, offering a secure trading environment for investors.
| Licenses | FCA, CySEC, ASIC |
| Minimum Deposit | $100 |
| Trading Platforms | WebTrader, Windows 10, Mobile Apps |
| Asset Coverage | Forex, Commodities, CFDs, Cryptocurrencies, Indices |
| Customer Support | 24/7 |
| Account Types | Standard, Professional |
Cons
- Restrictions in some countries
- No social trading features
Pros
- Protected and secure accounts
- Established since 2008
- Licensed by authorities in Dubai
XM
XM is a global trading platform focused on providing investment services for USDT traders. XM is renowned for offering advanced educational materials for traders and provides a flexible and reliable trading environment with 24/7 customer support.
| Licenses | CySEC, ASIC, IFSC |
| Minimum Deposit | $5 |
| Trading Platforms | MT4, MT5, WebTrader |
| Asset Coverage | Forex, Commodities, CFDs, Cryptocurrencies, Indices |
| Customer Support | 24/7 |
| Account Types | Various, including Islamic accounts |
Cons
- Service restrictions in some countries
Pros
- Wide range of financial instruments
- Transparent deposit and withdrawal policies
- Excellent customer support and comprehensive educational materials
FAQ
- How does Tether work?
Tether is beneficial to crypto-currency investors because it offers a way to avoid the wild fluctuation in value of other crypto-currencies. - How is USDT different from other cryptocurrencies?
USDT is pegged to the value of the US dollar, making it less volatile than other cryptocurrencies. - How can I buy USDT?
You can buy USDT on cryptocurrency exchanges or broker such as Plus500 or XM. - Tether: A Stablecoin or not?
Tether is part of a class of crypto-currencies called stablecoins, which seeks to prevent the sharp fluctuations in value of other well-known crypto-currencies like Bitcoin and Ethereum. - How does Tether maintain its price at $1?
Tether holds reserves that match its value to maintain its price at $1.