Back
2022-04-18 23:30:10
How to purchase Tether (USDT)

What is Tether
What Is Tether (USDT)?
USDT is a stablecoin (stable-value cryptocurrency) that mirrors the price of the U.S. dollar, issued by a Hong Kong-based company Tether. The token’s peg to the USD is achieved via maintaining a sum of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills in reserves that is equal in USD value to the number of USDT in circulation.
Originally launched in July 2014 as Realcoin, a second-layer cryptocurrency token built on top of Bitcoin’s blockchain through the use of the Omni platform, it was later renamed to USTether, and then, finally, to USDT. In addition to Bitcoin’s, USDT was later updated to work on the Ethereum, EOS, Tron, Algorand, and OMG blockchains.
The stated purpose of USDT is to combine the unrestricted nature of cryptocurrencies — which can be sent between users without a trusted third-party intermediary — with the stable value of the US dollar.
Who Are The Founders Of Tether?
USDT — or as it was known at the time, Realcoin — was launched in 2014 by Brock Pierce, Reeve Collins and Craig Sellars.
Brock Pierce is a well-known entrepreneur who has co-founded a number of high-profile projects in the crypto and entertainment industries. In 2013, he co-founded a venture capital firm Blockchain Capital, which by 2017 had raised over $80 million in funding. In 2014, Pierce became the director of the Bitcoin Foundation, a nonprofit established to help improve and promote Bitcoin. Pierce has also co-founded Block.one, the company behind EOS, one of the largest cryptocurrencies on the market.
Reeve Collins was the CEO of Tether for the first two years of its existence. Prior to that, he had co-founded several successful companies, such as the online ad network Traffic Marketplace, entertainment studio RedLever and gambling website Pala Interactive. As of 2020, Collins is heading SmarMedia Technologies, a marketing and advertising tech company.
Other than working on Tether, Craig Sellars has been a member of the Omni Foundation for over six years. Its Omni Protocol allows users to create and trade smart-contract based properties and currencies on top of Bitcoin’s blockchain. Sellars has also worked in several other cryptocurrency companies and organizations, such as Bitfinex, Factom, Synereo and the MaidSafe Foundation.
What Makes Tether Unique?
USDT’s unique feature is the fact that its value is guaranteed by Tether to remain pegged to the U.S. dollar. According to Tether, whenever it issues new USDT tokens, it allocates the same amount of USD to its reserves, thus ensuring that USDT is fully backed by cash and cash equivalents.
The famously high volatility of the crypto markets means that cryptocurrencies can rise or fall by 10-20% within a single day, making them unreliable as a store of value. USDT, on the other hand, is protected from these fluctuations.
This property makes USDT a safe haven for crypto investors: during periods of high volatility, they can park their portfolios in Tether without having to completely cash out into USD. In addition, USDT provides a simple way to transact a U.S. dollar equivalent between regions, countries and even continents via blockchain — without having to rely on a slow and expensive intermediary, like a bank or a financial services provider.
However, over the years, there have been a number of controversies regarding the validity of Tether’s claims about their USD reserves, at times disrupting USDT’s price, which went down as low as $0.88 at one point in its history. Many have raised concerns about the fact that Tether’s reserves have never been fully audited by an independent third party.
Related Pages:
Looking for market and blockchain data for BTC? Visit our block explorer.
Want to buy crypto? Use CoinMarketCap’s guide.
How Many Tether (USDT) Coins Are There In Circulation?
There is no hard-coded limit on the total supply of USDT — given the fact that it belongs to a private company, theoretically, its issuance is limited only by Tether’s own policies. However, because Tether claims that every single USDT is supposed to be backed by one U.S. dollar, the amount of tokens is limited by the company’s actual cash reserves.
Moreover, Tether does not disclose its issuance schedules ahead of time. Instead, they provide daily transparency reports, listing the total amount of their asset reserves and liabilities, the latter corresponding to the amount of USDT in circulation.
As of September 2020, there are over 14.4 billion USDT tokens in circulation, which are backed by $14.6 billion in assets, according to Tether.
How Is the Tether Network Secured?
USDT does not have its own blockchain — instead, it operates as a second-layer token on top of other cryptocurrencies’ blockchains: Bitcoin, Ethereum, EOS, Tron, Algorand, Bitcoin Cash and OMG, and is secured by their respective hashing algorithms.
Where Can You Buy Tether (USDT)?
It is possible to buy Tether / USDT on a large number of cryptocurrency exchanges. In fact, USDT’s average daily trading volume is often on par or even exceeds that of Bitcoin. It is especially prominent on those exchanges where fiat-to-crypto trading pairs are unavailable, as it provides a viable alternative to USD. Here are some of the most popular exchanges that support Tether trading:

Binance
OKEx
HitBTC
Huobi Global
How to buy USDT?
  • How to buy USDT on Neko Invest app
    For more information:
    How to download and use Neko Invest app
    • Step 1 :  Create/Login to your Neko Invest app account
    • Step 2 :  Go to Market page, click on the Search icon and search USDT in the search bar.
    • Step 3 :  Click on USDT logo and choose Invest.
    • Step 4 :  Entering the amount of USDT that you want to buy. Then click on the Get Quotes button.
    • Step 5 :  Swipe the Swipe to swap button and now you own USDT. You can check your USDT balance in your wallet by going to Wallet page.
Contract Addresses
USDT (Solana) : Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB
Tether (TomoChain) : 0x381b31409e4d220919b2cff012ed94d70135a59e
Tether (Algorand) : 312769
Tether (Heco) : 0xa71edc38d189767582c38a3145b5873052c3e47a
Tether (Xdai chain) : 0x4ECaBa5870353805a9F068101A40E0f32ed605C6
Tether (Fantom) : 0x049d68029688eabf473097a2fc38ef61633a3c7a
Tether (Polygon) : 0xc2132d05d31c914a87c6611c10748aeb04b58e8f
Tether (OKExChain) : 0x382bb369d343125bfb2117af9c149795c6c65c50
Tether (Bitcoin Cash) : 9fc89d6b7d5be2eac0b3787c5b8236bca5de641b5bafafc8f450727b63615c11
Tether (Kucoin Community Chain) : 0x0039f574ee5cc39bdd162e9a88e3eb1f111baf48
Tether (Tron20) : TR7NHqjeKQxGTCi8q8ZY4pL8otSzgjLj6t
Tether USD (Binance Smart Chain) : 0x55d398326f99059ff775485246999027b3197955
Tether USD (Ethereum) : 0xdac17f958d2ee523a2206206994597c13d831ec7
Tether (Avalanche Contract Chain) : 0xc7198437980c041c805a1edcba50c1ce5db95118
Join our community at