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. Put simply, they can move around 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 hold a stable value against the reference asset when traded on secondary markets, or that the reserve of assets, if there is one, will be enough to meet all redemptions.
How to buy Tether in Singapore
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. In the Crypto.com App, you can buy fractional amounts of Tether, from as little as SGD 1 for direct purchases with Apple Pay or Google Pay, SGD 20 by card, or SGD 50 by FAST bank transfer.
Weekly limits apply to One-Time orders and depend on your account status. These limits are shared across your Limit Order and Recurring Buy trading volumes.
What payment methods can you use for Tether?
To buy Tether in Singapore, you can pay using SGD or USD funds, debit card, Apple Pay, Google Pay or crypto in the App.
Depositing SGD by FAST bank transfer is free on Crypto.com, while USD can be funded via Swift transfer. Funding in SGD can help you avoid foreign exchange (FX) fees when buying Tether in SGD; 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.
