If you’re looking to or thinking about buying the stablecoin Tether, you’ve come to the right place. Tether was launched in 2014 as RealCoin, and has since grown a sizable market cap of roughly $49,900,000,000. Oobit has created a secure and simple way to enter the market and buy Tether, and in this guide we’re going to show you step by step how to buy Tether (USDT) on Oobit.
What Is Tether (USDT)?
This cryptocurrency is a stablecoin, which means that its value is always pegged to a fiat currency, in this case the US dollar. Designed to offer the same benefits as cryptocurrency but without the volatility, Tether (USDT) is a reliable and more secure option for users getting familiar with the industry. Known for making international payments and a safe haven when the crypto markets experience a dip, this stablecoin has been well received by the industry.
How To Buy Tether (USDT) On Oobit
Here is our step by step guide to acquire the cryptocurrency. First, you’ll need a registered account with Oobit, and will need to have completed the first level of identity verification.
From your account dashboard, select the Buy/Sell option from the left hand menu.
Select USDT - Tether (ERC-20) from the list of cryptocurrencies available for purchase.
Enter the amount of Tether (USDT) you would like to purchase. You can toggle between USDT or USD values by clicking on the arrows next to the amount. The summary below will illustrate the values in both currencies. Select a payment method from the options available and when you are ready, select “Continue".
Next, you’ll need to enter your ETH wallet address. As Tether is an ERC-20 token, it can be stored in any ETH-compatible wallet. ETH wallet addresses contain 42 characters, ensure that you have entered it correctly and select “Continue”.
For all payment options, you will now be asked to provide the information necessary to make the transaction.
You will be sent a verification code to the email address linked to your account. You’ll need to enter the code, and check the boxes before being able to click “Continue”.
If you have not completed your identity verification you will be asked to do so now. The process will take a few minutes and is easy to follow using the prompts.
After being presented with the Order Summary you will be asked to verify that this information is correct and to execute the trade.
Following verification from your bank, the transaction will take place and the cryptocurrency will be delivered to your ETH wallet address.
And there you have it! Congratulations on officially having purchased your first Tether.