What is Tether?
Tether is probably the best-known cryptocurrency pegged to another currency in the market. As a ‘stablecoin’, Tether is associated with the price of the US dollar as it is fixed at a 1:1 ratio to the value of the dollar. This means that it does not face the same volatility as other cryptocurrencies and investors and traders can rely on the price holding a somewhat stable value.
Tether has attracted attention as the first stablecoin to have gained attention and adoption into cryptocurrency exchanges but has also faced heavy criticism and controversial opinions about how decentralised and transparent it really is.
How to create a Tether wallet
Sign up for a free Coindirect account and you will automatically get a free Tether online wallet. You can use your Tether wallet to buy, sell, store, send (withdraw) and receive (deposit) USDT.
How to create a Tether address?
Once you have signed up for a free Coindirect account all you need to do press the ‘Receive’ button to reveal your Coindirect Tether wallet address.
How to buy Tether with a credit card
- Sign up for a free Coindirect account
- Find your Tether Wallet and click the ‘Buy’ button in your Tether Wallet.
- Select “New VISA Card (EUR)” or “New credit card (NGN)” if you are in Nigeria.
- Enter EUR value of BCH you want to purchase (more than the minimum limit) or the USDT amount you want to buy and then click ‘Preview Buy’
- You will receive a quote, press ‘confirm’ before timer runs out (counts down from 55 seconds)
- Type in your credit card details and pay
- You will be taken to a page to verify your transaction
- Finally you will be redirected back to your Coindirect Wallet once the payment is successful
Where can I buy Tether?
If you are in South Africa or in Europe in a SEPA country you can deposit ZAR and EUR into your Coindirect ZAR Wallet or Euro Wallet respectively.
To fund your account you have to transfer money using bank transfers. To get the funding instructions so that your account is credited:
- Go to your ZAR/EUR wallet and click the “Fund now” button. Alternatively click the Fund tab in your Coindirect wallet and click on “Transfer Now”.
- Select the bank to transfer to from the drop down menu to get payment details and the reference you should use (highlighted in blue)
- Transfer the money from your bank account into the account shown on the screen then wait for the bank transfer to be processed (0-3 business days depending on the bank).
- Once the funds reflect in your ZAR wallet, go to your Tether wallet and click “Buy” and select “Wallet (ZAR)” or “Wallet (EUR)” as you payment method.
Where can I sell my Tether?
You can sell Tether from your Coindirect wallet by clicking the ‘Sell’ button in your Tether wallet.
If you are in a SEPA region or South Africa. You can sell your Tether and instantly get money transferred to your Wallet (ZAR or EUR).
If you are in another region with no local currency wallet. You can sell your Tether by creating a sell offer on the marketplace.
You now know how to buy Tether instantly from almost anywhere in the world. Make sure to download the Coindirect App to trade Tether from the palm of your hands.
Credit card limits
Please note that Coindirect has limits for credit card purchases in place.
Make sure that your account is verified so that your credit card purchase limits are increased.Currently, the limits for credit card purchases are:
Unverified users – R3000/€178
Verified users – R15000/€893
Introduce your friends to cryptocurrency investment and you can get free cryptocurrency. To earn free Ripple, send a link from the Earn programme. When your referees sign up to Coindirect and make their first transaction on the platform, both you and the friend will receive 5 XRP.