What are Tether and USD₮?
Tether is a stablecoin: a digital token designed to track the value of a traditional currency. The US dollar (USD) Tether token, USD₮, is described by Tether as pegged 1-to-1 with the US dollar.
Tether tokens are built on multiple blockchains. In simple terms, they can move as blockchain tokens while staying pegged to a real-world currency.
Although the term "stablecoin" is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets, or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions.
How to buy Tether in Australia
In the Crypto.com App, the basic steps are:
- Create an account and complete identity verification.
- Deposit funds or choose a supported payment method.
- Tap 'Buy', search for Tether and select it.
- Enter the amount you want to spend.
- Review the order details and confirm when you're ready.
How much Tether can you buy?
You don't need to buy a whole token. You can buy fractional amounts of Tether for as little as AUD 20 in the Crypto.com App.
Weekly limits apply to One-Time orders and depend on your account status. These limits are shared across Limit Order and Recurring Buy trading volumes.
What payment methods can you use for Tether?
Payment options for buying Tether in Australia can include PayID, debit or credit card (Visa or Mastercard), Apple Pay, Google Pay or crypto in the App.
Depositing AUD via PayID is free on Crypto.com and is a handy way to fund your account before buying Tether. Other transaction fees and spread may apply.
For One-Time orders, the conversion rate is valid for 15 seconds. If you don't confirm within that time, the rate refreshes.
