What are Tether and USD₮?
Tether is a stablecoin: a digital asset designed to track a traditional currency. Its US dollar token, USD₮, aims to hold a 1-to-1 value with the US dollar.
Tether tokens also exist as digital tokens built across several blockchains, rather than on a single network.
Although the term "stablecoin" is widely used, there is no guarantee that the asset will keep a stable value against the reference asset when traded on secondary markets, or that the reserve of assets, if any, will be enough to meet all redemptions.
How to buy Tether in Singapore
In the Crypto.com App, the basic steps are:
- Sign up and verify your identity.
- Top up your account with an available funding method.
- Head to the trading screen, select Tether and complete the transaction.
The minimum you can start with depends on your payment method: SGD 1 for direct purchases with Apple Pay or Google Pay, SGD 20 by card and SGD 50 by FAST bank transfer.
What payment methods can I use for Tether?
You can fund your account by FAST bank transfer in SGD, Swift transfer in USD, debit card, Apple Pay, Google Pay or a crypto deposit from another wallet.
FAST transfers in SGD and Swift transfers in USD are free on Crypto.com, though your bank may charge a separate fee. Crypto deposits are free too, though other network charges may apply.
Buying and holding Tether vs day trading
Buying and holding Tether generally means buying it to keep for a longer period.
Day trading means actively buying and selling Tether over short timeframes, usually within the same day, to try to benefit from price movements. It takes more time, skill and risk management, as the outcomes depend heavily on timing and market swings.
Check the details before confirming any order.