Cryptocurrency

Buy Tether (USDT) on CoinDCX | How to invest in Tether

Trying to avoid the volatile market? It’s time that you buy tether if you want time to transfer and trade value denominated in fiat without having to bear the everchanging conversions. USDT is a crypto asset that reflects the value of the USD. You can buy USDT for $1. Tether stands at position 3 in terms of market capitalization. It is one of the most stable coins.  It is capable of offering the stability of fiat currencies along with the efficiency of cryptocurrency. 

Basics of Tether

The current price(16 July 2021) of this currency stands at $1. It stands third in position in terms of total market cap. The total market cap of Tether is $62,024,069,715. The circulating supply of this cryptocurrency is 62.02 billion. The crypto asset reached its all-time highest price at $1.21 as of 27th May 2017. While the all-time low value of USDT was $0.0000108 on 14th June 2021. 

Why buy Tether

USDT serves as a powerful tool since it can be redeemed for a US dollar. It acts as a great tool to avoid extreme volatility in the cryptocurrency market.  For an instance, if you move the value to USDT you reduce the risk of exposure to sudden price drops in your cryptocurrencies by a great amount. If you buy tether you also remove the transaction fees and the delays associated with traditional assets.  The stability of Tether and its efficiency as a cryptocurrency is indeed a great combination for investments. 

 Tether price trends

Price/year  2017 2019 2020 2021
Tether (Year closing price) $1 $0.99 $1 $1
Tether (ATH) $1.05 $1.01 $1.02 $1.08
Tether (ATL) $0.93 $0.95 $0.992 $0.971

How to buy Tether on CoinDCX

The three-step process to buy Tether on CoinDCX  1.Sign up on CoinDCX  The very first step to getting your first tether on CoinDCX is through signing up on the platform. Use a valid Email ID and strong password to create an account on CoinDCX.  2. KYC verification  Once the signing up procedure is complete the platform requires you to complete the KYC verification process. This process ensures the credibility and authenticity of its users. The entire process takes only 15 minutes for completion and is vital to buy tether or any other cryptocurrency on the platform. 3. Buy Tether  Once your KYC is complete you need to deposit the amount of fiat currency for which you need to buy Tether. The same amount of USDT is then deposited in your wallet. Simple! Right? Keep a watch on your favorite cryptocurrencies through CoinDCX
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