Tether Stablecoin. Buy USDT for BTC.

Tether is a stablecoin that brings together blockchain technology and fiat money. The main point of it is to provide an opportunity to use a stable digital asset and protect against the intense volatility of cryptocurrencies.

The project, then under the name RealCoin, was created in April 2014 by software engineer Craig Sellars, and a pair of entrepreneurs, Reeve Collins and Brock Pierce. Their goal was to combine the advantages of cryptocurrencies and fiat money, to create an asset with high stability and low volatility, and to launch an equivalent of the US dollar for transactions on exchanges that do not support fiat currencies. In October 2014, the team released the first tokens via the Omni Layer protocol on the Bitcoin blockchain. In November, executives renamed the startup and registered Tether Limited in Hong Kong.

A special feature of the payment system is that each token is backed by the US dollar, due to which the price of USDT maintains parity with the USD. Fiat reserves are held in Tether Limited bank accounts. Tokens are issued when a user deposits an equivalent amount of fiat dollars into the system, and they are ‘burned’ when money is withdrawn from the system. Tether simplifies the process of digitising dollars and registering them on the blockchain where all transactions are hashed, that is, protected by cryptography.

Initially, the Tether cryptocurrency was implemented using the Omni Layer protocol on top of the Bitcoin blockchain. Transactions were then conducted in 60 minutes. In January 2018, developers switched to a more flexible Ethereum blockchain and started issuing tokens in accordance with the ERC-20 standard (they continued to issue USDT on Omni Layer simultaneously). Since then, transactions have been carried out in one minute. Another advantage of switching to Ethereum became the interaction with other ERC-20 tokens, as well as with smart contracts and decentralized applications.

Buy Tether for bitcoins

If you are looking for a place to buy USDT at a competitive price, our cryptocurrency platform will help you with the purchase. It includes a simplified exchanger, so the transaction won’t cause any difficulties. With its help, you can just as easily exchange USDT for bitcoin.

In order to secure profits without having to withdraw money, stablecoin can be useful to traders. Tether’s price is stable even at times of turmoil on the crypto market. It is a convenient way to diversify your cryptocurrency portfolio.

Today, the price of USDT in BTC on the Polyx exchange is: https://polyx.net/account/trade/USDT-BTC

Chart of the USDT to BTC exchange rate:

Where to buy USDT

1. Our cryptocurrency platform, which includes both an exchange and a USDT exchanger, can be regarded as the most reliable place to buy Tether. We ensure the highest possible transaction speed, provide 24/7 support, and have secure wallets for storing tethers. In general, centralized platforms are still the safest place to trade USDT. Users trust officially registered companies with licensing, such as Polyx.
2. Decentralized exchanges and p2p marketplaces are a slightly less secure alternative for conducting transactions with a cryptocurrency. At the same time, the majority of them can’t match the operation speed and liquidity of centralized platforms. However, this is one of the few ways to exchange Tether anonymously.
3. Message boards, forums, and social networks are the most obvious and familiar ways to make purchases, but they are not safe. You will have to carefully check everyone who is ready to sell USDT, so as not to encounter fraudsters. Similarly, it is best to take a relative with you to a face-to-face meeting as a precaution.

How to buy USDT for BTC

If you choose Polyx, you need to deposit a cryptocurrency. With BTC on your balance, you can immediately start buying USDT. For those who want to buy tethers quickly, we suggest using the exchanger’s simple interface. This requires minimal effort: select the cryptocurrency to be given (BTC), enter the amount, select the cryptocurrency to be received (USDT), and click on ‘Exchange.’

For experienced users and professional traders, we offer to buy USDT on the exchange with the advanced interface. All the functionality of the exchange will be available here: creating and executing orders, chart, and buying or selling USDT by limit. Moreover, each currency pair has its own trading page with DOM and history.

What to know about Tether and USDT

The developers did not restrict themselves to the capabilities of Omni Layer and Ethereum. They have partnered with other crypto projects to expand the circulation of the Tether stablecoin:

• since April 2019, they have been issuing tokens on the TRON blockchain in accordance with the TRC-20 standard;
• since May 2019, on the EOS blockchain;
• since July 2019, they have been issuing USDT through the Liquid Network overlay on top of the Bitcoin blockchain (like Omni Layer);
• since February 2020, on the Algorand blockchain.

Tether can be used and stored inside listed blockchains, just like any other cryptocurrency that is supported by them. However, tokens issued on different blockchains are incompatible with each other. That is, they can only be sent to the addresses of corresponding blockchains.

The company calls its currency ‘tethers,’ taking after ‘ethers.’ They facilitate transfers not only in US dollars, but also in other national currencies. The developers created their cryptographic counterparts by adding the letter ‘T’ to the fiat currency ticker:

• JPYT is the Japanese yen equivalent (discontinued);
• EURT is the Euro equivalent (issued since January 2018);
• CNHT is the equivalent of the Chinese yuan (issued since April 2019).

Fiat currencies that users deposit in exchange for USDT are stored in the company’s bank accounts. These reserves are periodically reviewed by independent auditors:

• in September 2017, the auditing firm Friedman LLP confirmed the existence of $442.98 million in two company accounts, at a time when 442.48 million tokens were issued;
• in June 2018, the law firm Freeh Sporkin & Sullivan, LLP confirmed the existence of $2.55 billion in fiat reserves, at a time when 2.54 billion tokens were issued;
• in February 2021, the auditing firm Moore Cayman confirmed the existence of $35.28 billion, with the issue of 35.11 billion tokens;
• in June 2021, the very same Moore Cayman confirmed the existence of $62.77 billion, with the issue of 62.61 billion tokens.