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USDT Exchange on eToroX
Launched as RealCoin in July 2014, and rebranded in November of that year, USDT (Tether) is one of 17 stablecoins currently being traded on the eToroX exchange, including the USD Coin, eToroX’s tokenised US Dollar (USD), the Euro (EURX) and the Pound Sterling (GBPX), with 99 trading pairs available on eToroX.
USDT (Tether) was recently joined by USDC and five new stablecoins on the eToroX Exchange: the Hong Kong dollar (HKDX), the Turkish lira (TRYX), the Polish zloty (PLNX), the South African Rand (ZARX), and the Singapore dollar (SGDX). These new stablecoins aim to bring stability, and bridge the gap between the world of cryptoassets and traditional financial markets.
Claiming to be backed by 1 dollar for each token issued, USDT (Tether) is a cryptoasset linked (or “tethered”) to a traditional fiat currency – in this case, to the US dollar, which can now be traded on eToroX Exchange. Since the price of USDT (Tether) is linked to the US dollar on a 1:1 value basis, if you trade USDT (Tether) on eToroX, it is the same as trading US fiat dollars. USDT is designed to offer stability, transparency and minimal transaction charges to users.
Tether transactions usually take a few minutes to complete; it charges no transaction fees for moving funds between Tether wallets, and it is a stable and fast resource to cash out and cash in when there are difficulties in the market.
USDT Trading on eToroX Exchange
USDT (Tether) was conceived in 2019 and represents a melding of the traditional world of financial markets and the world of blockchain. Stablecoins were introduced into the world of cryptocurrencies to counteract their inherent lack of stability.
If you want to buy USDT, first, fund your Exchange account with Bitcoin or Ethereum, or any other supported cryptoassets, then you can trade these against USDT.
What Affects USDT (Tether)
USDT (Tether) is influenced by the US-based futures markets.
Why Trade USDT with eToroX
In the erratic world of cryptoassets, eToroX offers you a secure exchange platform on which to trade. eToroX is the crypto and blockchain arm of the social trading platform eToro, and is regulated by the Gibraltar Financial Services Commission (GFSC). This facilitates exchange and trading of USDT and other cryptoasset pairs safely, securely and in a transparent environment.
You can now exchange USDT on eToroX for other cryptoassets, including Bitcoin, Litecoin, Stellar, EURX, GoldX and SilverX.
Getting started with USDT
First, open and verify your Exchange account, log in using your credentials and transfer supported cryptoassets to the trading exchange. Then, you will be able to trade USDT against another stablecoin or cryptoasset pair.
The procedure is simple using the online form. You can also create a profile by using your Gmail or Facebook account, and completing the onboarding process until your account is fully verified.
If you have an existing verified eToro account, no need for further registration. Simply sign in using your existing eToro credentials.
To fund your exchange account, if you already have crypto stored somewhere (a private digital wallet, for example), send it directly from there; or you can download the eToro Wallet (from either the Google Play Store or the Apple App Store) and also send directly from there. Using either method you will be able to transfer them to the exchange and buy USDT.
The above content is for informational purposes only and should not be construed as financial or any other type of advice. All trading involves risk of capital loss. Digital Assets trading also involves additional special risks not generally shared with official currencies, goods or commodities. For more information on the risks please refer to our Risk Disclaimer.