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How to buy and sell Tether

How to buy and sell Tether

Explainers Trading

10 Oct 2022

These are the world's very first Stablecoins, which appeared in 2014 and have remained the most liquid and reliable digital currency in this category ever since.

On the AAX cryptocurrency exchange, they can be purchased for dozens of fiat currencies by paying by card or bank transfer. In this step-by-step guide to buying Tether, we'll tell you where to buy USDT for rubles cheaper, as well as provide instructions on how to sign up for a profitable passive investment of the coin.

What is Tether (USDT)?

Tether differs from Bitcoin in that it's a stablecoin – meaning that it is backed by a reserve asset and designed to offer price stability worth $1 USD. It launched in 2014 to facilitate the use of fiat currencies in the blockchain ecosystem and crypto markets.

Step 1: How to create a free account on the AAX website or app

It's easier to sign up via an app downloaded from GooglePlay or AppStore and installed on your smartphone - the site does the same thing. At the first launch, there will be an invitation to create an account, after acceptance of which a form will appear, which must be filled out (registration on the site is made through the same form):

The created account can be linked to a mobile number or E-mail - in the future it becomes its login. On it in the process of registration is sent a confirmation code inside, respectively, SMS or letters - after entering it the account is considered created and you can enter it through the login and password set. Further it is more convenient to work on the site.

New accounts are assigned a zero level of verification, which allows you to deposit no more than the equivalent of 2 BTC into your wallet and make trades on the spot and futures markets. If the specified volume is not enough or you also need the access to "Quick Buy and Sell" and "P2P-deals" options, then you will have to be verified to the level 1. For that you will have to prepare the following photo-files:

  • ID card;

  • the document with the residence address;

  • the photo files of your appearance with a sheet of paper with the inscription "AAX", signature, current date.

Now click "Verify" or "Complete KYC Verify" on the "Overview" tab of the personal account:

It remains to send the prepared files and wait for the decision.

It is also recommended to set up a payment password and two-factor authentication right away - you will still have to do this in the future.

Step 2: Choose how you want to buy USDT

The AAX exchange has several services that allow you to purchase Tether by paying with various methods. All of them are localized in the "Buy" and "Trade" menus, allowing the user to pay with digital or fiat currency through various payment systems:

Method 1: Buy USDT via credit card

To do this, click "Third-party gateway" in the "Buy" menu and on the page that opens set the transaction currencies and its volume:

Then a payment gateway that supports credit card payments needs to be selected (in the example, AdvCash supports MasterCard and bank transfers) and "Place Order" is clicked. The user is then moved to the selected payment gateway and completes the transaction there.

Pay attention to the line "processing fees" in the section "Account" - it shows 0 USD. That is, the payment gateway does not deduct any fees for the transaction. Therefore, on the AAX exchange through a third-party channel you can buy USDT without commission.

Method 2: Buy Tether with a Bank Transfer

Click on the "Buy" option in the "Quick Buy & Sell" menu and in the form that opens, specify the currency and payment amount:

The amount of USDT received will be calculated - if these conditions are satisfactory, then click "Buy". A list of sellers in this direction will be opened:

Among them, choose the one that has a gray-white square icon in the payment method, indicating bank transfer - to buy Tether USDT for cash in this way is very profitable. In this example the suitable seller is AdvCash - you click "Buy" in its line and then the transaction is confirmed on the resource of the selected seller.

Method 3: Buy USDT with other cryptocurrencies

You click "Convert" in the "Trade" menu and select the desired cryptocurrency payment (it is preliminary deposited to the financial account of the AAX exchange wallet from the cryptocurrency wallet):

Then enter its amount, click "Get Price" and if it suits you, click "Convert".

How to sell USDT

Tether can be exchanged for fiat through a P2P transaction, the link to which is located in the "Buy" menu. The form that opens switches to "I want to sell" mode and the currency is set to "USDT":

When a suitable offer in terms of quantity, range, price and payment method is found, "Sell USDT" is clicked in its line, and then the transaction is confirmed. In a sense, with this exchange, you can sort of sell and buy Tether through a P2P transaction at a price set by the counterparties rather than the market price.

And the exchange of USDT for cryptocurrency is made in the terminal, which opens with the link "Spot Market" in the menu "Trade", which is first set up for the desired instrument:

  • the cursor is hovered over the current trading pair;

  • press "USDT" in the appearing panel - as a result only pairs with this crypto as a quoted one will be displayed;

  • select the necessary variant from the list and click on its ticker (for example, AVAX/USDT if you intend to pay with AVAX):

When the terminal switches, its top right panel "Place Order" should be set up like this:

Then specify the "Amount" of payment and the "Total" field will calculate the purchase volume. It remains to click "Sell SOL" and the deal is done instantly.

What you can do with Tether

When you have USDT in your AAX wallet balance, they can be used both on and off the exchange.

Donate USDT

This is done by withdrawing from the AAX wallet account to a cryptocurrency wallet that has a known address and network. To make such a donation, you will need to set a payment password and activate authentication. This kind of economic charity is very convenient and beneficial for both the person in need and the benefactor.

Send Tether to your friend

In this case, as well as when donating, the cryptocurrency is withdrawn from the AAX balance immediately to the friend's cryptocurrency purse using the known details. There may be a variety of reasons for using USDT, for example:

  • the friend prefers to receive exactly in this coin;

  • it is the only source of money available at the moment and the friend needs it urgently;

  • the friend decided to buy something and it is much better to pay in Tether, and he doesn't have enough money.

Convert USDT

This can be done instantly by using the "Convert" option in the "Buy" menu. It opens a form that performs exchanges between crypto and fiat in both directions:

In it, you have the option to set the currencies and the amount of one of them, and then click "Get Price." As a result, the "You will get", "Total" and "Price" fields will display values that are valid for only a few seconds. To initiate an exchange at the terms offered, click "Exchange Now" and the transaction will be confirmed.

What makes Tether valuable?

Here are the properties most valued in USDT by users of the coin:

  • Multi-blockchain compatibility - this provides ease of mutual integration;

  • Huge volumes are constantly traded on exchanges - high liquidity is very valuable for traders;

  • Widespread - Tether tokens are listed on multiple exchanges and used in a variety of DeFi applications;

  • 100% financial security - Tether has sufficient reserve capital to redeem all circulating tokens;

  • Strict compliance with AML, KYC and CFT requirements - by complying with security standards, you can be confident that the blockchain is stable.

Why should I buy USDT on AAX?

In fact, this coin is a dollar crypto derivative, which with fiat currency has only one very similar indicator - the dynamics of the rate. Otherwise, USDT is the usual cryptocurrency with all its advantages and disadvantages. Due to a very tight binding of its value to USD, predicting its behavior is quite simple - analytical materials on the U.S. dollar are issued promptly and regularly. In addition, the price trajectory of dollar pairs is very accurately described by the simplest tools of technical analysis, even by a novice.

We recommend buying USDT on the AAX, in order to then use it in all the ways available on the exchange and choose from them the one that will be most profitable and least complicated. This will allow you in the future to make profitable and fast transactions, in time to respond to market changes. And understanding the USDT market will allow you to successfully apply this knowledge when analyzing other cryptocurrencies, earning income from them as well.

In addition, the crypto exchange AAX regularly lists new tokens, which allows you to start using them in trading. And the more financial instruments at a trader's disposal, the more successfully he can apply individual trading strategies, such as arbitrage strategies. Registering on now means unimaginable opportunities in the future!

How do I know the price of USDT now?

You can find out the current price of this coin on the AAX exchange by selecting the option:

  • "Exchange" menu "Buy" (described in "Exchange USDT");

  • "Spot Market" menu "Trade" (described in "How to Sell USDT");

  • "P2P Deal" menu "Buy" (described in "How to Sell USDT");

  • "Convert" menu "Trade" (described in "Buy USDT with other cryptocurrencies");

  • "Quick Buy and Sell" menu "Buy" (described under "Buy Tether with a bank transfer");

  • "Third-party channel" menu "Buy" (described under "Buy USDT with credit card").

Prices will not necessarily be the same on all of these resources, so you can always choose the most favorable option.

Safe trading with AAX

From the very beginning reliable protection of users and internal resources was a priority during the creation of the exchange site. Therefore the system successfully used at the London Stock Exchange was chosen to manage it. It has demonstrated its resilience to various kinds of harmful influences committed by intruders.

The account of any user is protected by all modern tools of online protection - authorization, verification, authentication. It allows him to make any actions absolutely safe, without worrying about the safety of finances and personal data.

Store or use your Tether (USDT) on AAX

If you haven't yet decided how you will use your cryptocurrency in an exchange wallet, you can invest it in stacking or savings (options in the "Finance" menu) while you decide. These are passive earning tools that accrue rewards proportional to the time coins are locked. This period is called the lock-up period and can be fixed (a few days or months) or flexible.

During this lock-up period, invested coins are used to provide liquidity to various exchange systems. It is possible to terminate the investment agreement and withdraw USDT from stacking or saving at any time, but if the fixed lock-up has not expired, only the investment is returned to the investor without remuneration. The flexible lock-up fee is accrued daily and is always paid to the investor.

The AAX crypto exchange investment and trading tools described in the instructions allow you to form a classic portfolio of cryptocurrency assets, consisting of a profitable and a protective part, on one platform. Easy and fast management of capital allocation allows for quick portfolio balancing, reacting in time to changes in the crypto market.

But it is not all the features of our exchange, which are regularly expanding and qualitatively improving. We recommend you to officially create an account with us and try to get financial dividends right now - it doesn't take much time and money.

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