Cryptocurrency is a word you hear almost every day these days. But how does it actually work? Why are Ukrainians increasingly talking about USDT? If you are just starting to understand the crypto world and want to understand what Tether (USDT) is and how to buy it safely, this article is for you.
Cryptocurrency is a word you hear almost every day these days. But how does it actually work? Why are Ukrainians increasingly talking about USDT? If you are just starting to understand the crypto world and want to understand what Tether (USDT) is and how to buy it safely, this article is for you.
Tether, or USDT for short, is a cryptocurrency whose value is pegged to the US dollar. That is, 1 USDT is almost always worth 1 dollar. This makes it a «stablecoin,» or stable cryptocurrency.
This is useful if, for example, you have hryvnias but are afraid that your savings will depreciate due to the unstable exchange rate. In this case, you can buy Tether to keep your money in the digital equivalent of the dollar without losses due to currency fluctuations.
After the full-scale Russian invasion, many Ukrainians began to actively use cryptocurrencies not only for investment, but also for saving money. USDT is popular because:
An online exchange is like a regular currency exchanger, only for digital currencies and with more features (for more experienced traders or investors). You register, add a hryvnia card and buy USDT. Popular among Ukrainians: Binance, Kuna, WhiteBIT.
Always check the reviews and reputation of the exchange you are going to buy USDT from.
Peer-to-peer (P2P) platforms allow you to buy cryptocurrency directly from other people. There are no intermediaries, you simply agree with another user to exchange.
Be sure to check the seller’s rating and always use only the platform, do not switch to third-party messengers.
These are sites that allow you to buy USDT, often without registering. You simply enter the amount, your card number, and receive the cryptocurrency in your wallet.
The exchange rate on such sites may be slightly worse than on exchanges, but they are fast and easy to use. Check the exchange rate in advance at https://minfin.com.ua/ua/crypto/exchangers/buy-tether/.
Once you have purchased USDT, it is important to know how to store it. Here are some simple ways:
So, buying and using USDT is not difficult at all. However:
«Everything related to investments, before acting, you need to thoroughly understand what you are investing in, why you are investing in a particular product or service», — the founder of the Kuna crypto exchange, Mykhailo Chobanyan, in an interview with Channel 24.
The main thing is to remember about safety, choose proven platforms, and don’t rush to invest all your savings at once.
