Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy USD Tether. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a good number of trusted and regulated crypto trading platforms, so it’s quite easy finding an exchange that has USD Tether. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy USD Tether in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has USD Tether in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying USD Tether, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer USD Tether.
It’s also possible to check out our comparison of the cryptocurrency brokers in Australia for those looking to learn more about the exchanges we prefer.
2. Sign up with the crypto exchange
Once you’ve decided on which exchange to use, it’s time to sign up.
Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.
Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.
Once done, it’s time for the next step.
3. Funding your account with AUD
To buy USD Tether, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.
4. Buy USD Tether
The final step is to go to their asset list, find USD Tether, navigate to the buy section, and then trade your AUD for some USDT. Once you’ve bought USD Tether, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.
Where to Buy USD Tether (USDT)
|5/5||300+ cryptocurrencies||Visit Swyftx|
|4/5||200+ cryptocurrencies||Visit Coinspot|
|3/5||400+ cryptocurrencies||Visit Binance|
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How to Sell USD Tether
If you’re thinking about selling USD Tether, just follow the steps below.
- Sign in to the crypto trading platform (like Swyftx).
- Click on USD Tether in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
- FInd the sell section and sell USD Tether for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying USD Tether in Australia legal?
Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.
How to buy USD Tether with PayPal?
Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find USD Tether. Have a look on their site first, you might be lucky.
How to buy USD Tether with a credit card or debit card?
Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy USD Tether with your credit/debit card.
About USD Tether
Tether guarantees USDT's equal value to the U.S. dollar. This is USDTâ€™s unique feature. Tether claims that USDT tokens are issued with the same USD amount. This means that USDT can be fully supported by cash and cash equivalents.
Cryptocurrencies can fluctuate as high as 10-20% per day due to their volatile nature. They are therefore unstable as a store of value. USDT is protected however from these fluctuations.
USDT can be used as a safe haven for crypto investors. They can store their portfolios using Tether, and not have to withdraw USD completely during periods of volatility. It is also possible to transact U.S. Dollars between countries, regions, or continents with USDT. This can be done without the use of a slow or costly intermediary such as a bank or financial services provider or any other financial institution.
Many controversies have erupted over the years regarding the validity of TetheraEUR's claims about their USD reserves. These disputes have sometimes caused USDT's prices to drop as low as $0.88 in the past. Many are concerned by the fact that Tether's reserves have never been fully audited or verified by an independent third party.
What's the FUD about Tether. Tether's poor balance sheet and inability conduct a public audit have been major sources of FUD. Tether has been repeatedly penalized for making misleading statements regarding its financial position. Tether's first balance breakdown was made public. Regulators also looked into Tether's claim that all stablecoins were fully supported by dollars reserves.
Tether is still uncertain about the validity of this report that purportedly cleared the company from any wrongdoing. Tether has been involved with numerous disputes regarding its business practices. Most crypto experts agree that Tether cannot fail.