Cryptocurrencies are currently taking over the financial market. Individuals and corporations are exploring ways to integrate these cryptocurrencies in their day-to-day transactions.
Apart from Bitcoin, other stablecoins mirror the exact value of the dollar. The most popular and reliable is the USDT (Tether coin). These stablecoins are essential for marketers and traders seeking to avoid market unpredictability.
Presently, you can buy USDT with credit card or any standard debit card. You can also use PayPal or other cryptocurrencies. But how will you store all the purchased coins for future use?
Let’s dive right in to find out more about USDT assets and how to safeguard them.
Where can I buy USDT?
The internet provides multiple avenues to exchange fiat for Tether coins. You can purchase your assets from a trader or a friend. Also, global exchanges can offer you the option to trade USDT assets with other users.
However, you must create a wallet before conducting any transaction. If you don’t know where to buy USDT, find any secure digital wallet for your Tether coins, and ensure that the exchange rates are reasonable.
Once you have opened a wallet, you can easily buy your USDT with a credit card — VISA, Mastercard, Discover, American Express, etc. PayPal also allows payments to USDT wallets. However, you might experience some technical issues with the transaction, depending on your location.
Also, owners of online wallets with other cryptocurrencies can convert their assets to Tether coins instantly via a crypto exchange.
How to buy Tether with credit card
Since Tether is a stablecoin that always maintains its 1-to-1 value to the dollar, buying with a credit card is lucrative. Users are allowed to deposit a particular dollar (USD) amount to their Tether Limited account, and they will receive the USDT equivalent in return without commissions.
If you don’ know how to buy USDT with a credit card, start by setting up an account and verifying your profile. Next, you can contact an expert or a support staff from the crypto wallet service provider for assistance. They will educate you on the necessary steps to buy Tether coins. Eventually, the purchased USDT will enter your preferred crypto wallet, and you will learn how to buy Tether on your own.
Benefits of storing cryptocurrency in online wallets
If you have some USDT assets at your disposal, you need to find a reliable wallet to store them. But before choosing a wallet, try to ascertain the type of USDT you have. The reason is that you can lose your funds if you place your USDT coin in the wrong wallet.
Therefore, let’s look at the main types of USDT and how to identify them.
- ERC20 (has an ‘0x’ prefix)
- TRON (start with a ‘TX’)
- Omni Layer (random numbers and letters)
- SegWit (starts with a ‘bc1’)
Advantages of online wallets
Of course, you can store your Tether coins on a hardware (USB drive). This storage system is useful if you have stablecoins like USDT. However, you risk losing everything if the drive malfunctions or gets lost.
In essence, you need an online wallet because of the following reasons:
Online wallets are like digital safes for your cryptocurrency. Think of it as a bank: they help you carry your digital currency around with security and ultimate privacy. Also, online wallets serve as a receptacle for all forms of cryptocurrency.
Online wallets allow you unlimited access to your digital currency at any time. If you choose a reliable exchange, they will help you backup your account against any unforeseen circumstances.
- Customer support
A support teamster is always available to assist you with any issues you encounter while using the wallet. If you don’t know how to buy Tether with debit card, they will show you the ropes.
Moreover, you can use an established wallet service provider or seek alternatives on your own. However, you will lose funds using this trial and error method. This approach entails sending small amounts of USDT to determine if they are compatible with the target wallet. If the transaction goes through, then the wallet is the right fit for you. Else, you will lose funds.
Storage of cryptocurrency on the stock exchange
You can store your cryptocurrency on the stock exchange and monitor changes in the financial sector. However, most cryptocurrencies react to consumer behavior rather than the stock market. Alternatively, the value of USDT is pegged to the dollar’s value, and by extension, the stock exchange.
In essence, you can buy Tether with a credit card. Alternatively, you can exchange other cryptocurrencies for USDT. All you need is a safe online wallet to store your Tether coins.