5 Reasons to Buy Tether in India
- It has a market capitalization of $63 billion and ranks at number five.
- It is widely accepted in a lot of stores, both online and offline.
- It provides easy cross-border payments.
- The transaction time depends upon the cryptocurrency on which tether is used.
- It cannot be mined as it is backed up by cash reserves.
What is Tether?
Tether, also regarded as the stablecoin was launched in 2014, but the trading of tether tokens began in February 2015.
It was created with the vision of a stabilised coin, unlike the popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, etc., that have very high fluctuations. Its price is pegged 1:1 to the popular fiat currency USD. As a new business model, Tether reportedly keeps the same amount of USD in its reserves to ensure that the cryptocurrency is backed up by cash.
3 Things to know while Investing in Tether (usdt)
- Unlike most cryptocurrencies, Tether could be used as a mode of payment as it is regarded as fiat currency.
- The price of 1 tether is equal to $1; therefore you don’t need to worry about price volatility.
- Tether has an unlimited supply of USDT tokens. At present, more than 63 billion coins are in existence.
To buy Tether directly, you can engage in a P2P (Peer to Peer) trade. There are a number of decentralized exchanges available that help to connect with a seller, or you can buy directly from someone who holds Tether. However, these ways look very lucrative, but they aren’t, decentralized exchanges have a complex functionality, and for taking the P2P route, you would need a trusted seller. The reason why these are opted only by Pro traders.
If you are starting fresh in cryptocurrency, you might want to take the simplified route and Download CoinSwitch Kuber!
You can buy Tether in just 4 steps on CoinSwitch Kuber:
- Open CoinSwitch Kuber, click on the Market tab from the bottom navigation, and select Tether.
- Click on the ‘Buy’ button.
- Enter the amount that you would like to buy Tether for, say ₹100, and click on the ‘Preview Buy button
- Check all the details of your order and proceed by clicking ‘Buy.’
Congratulations, you just bought your first Tether!
There is no right price to buy a cryptocurrency as with the developments, the price changes
frequently. The cryptocurrency can be more valuable as time passes which will result in higher prices, and there would only be regret left for not buying it at the earlier price.
Instead, you can invest small amounts periodically and balance the opportunity and risk. Start investing in Tether for as low as ₹100
There is no best time to start building your assets. The investments grow over a period of time. If you are waiting for the golden moment to come when you buy the Dip, you are already losing out on the returns you could have gained until then.
Take it a start but invest in small amounts periodically. A correct approach would be to invest a lump sum in Tether (USDT) in dips and average your portfolio for better returns.
Tether is listed on a majority of apps, but the only difference is the experience and functionality. Just as leading E-commerce websites allow purchases within seconds, whereas some websites take a lot of time to even load.
The market is full of cryptocurrency apps that are too complex and can make your buying experience tiresome; however, CoinSwitch Kuber allows you to buy cryptocurrencies easily and remove all the hassles in between.