Ever since it launched in 2015, Tether (USDT) has risen to prominence in the cryptocurrency space as a reliable store of value and as a protective measure against the inherent volatility of the crypto market.
Tether (USDT) is a stablecoin, a breed of cryptocurrencies that are backed by an underlying asset. They are designed to maintain a stable price relative to the value of the assets to which they are pegged. USDT is a fiat-collateralized stablecoin, it has its market value pegged to the US Dollar in the ratio of 1:1 — which means, 1 USDT is equal to 1 USD.
The relative stability of USDT presents numerous advantages for investors in the chaotic and wild market volatility. This has made USDT popular in the crypto space as an alternative to fiat. USDT is one of the most widely used stablecoins in the world. According to reports, USDT holds 75% of the stablecoin markets and it is the most traded cryptocurrency globally.
If you want to buy USDT in Cambodia at the best rate in the market, check out the leading global P2P crypto exchange platform, Remitano.
Why buy USDT?
There are numerous good reasons to purchase USDT. Firstly, USDT serves as an exit strategy for investors looking to reduce the negative impact of price fluctuations or take advantage of price fluctuations on their assets. The major reason why crypto is attractive is also its main weakness.
Traders have to understand from the very beginning that the wide price swing of crypto assets can be a blessing and at the same time a curse.
When you sense the value of an asset might go downward, you can quickly swap your asset to USDT. Thereby, eliminating the risk of the negative trend on your portfolio. The same applies to an asset that has just witnessed a pump and you anticipate there might be a correction in price soon. You can quickly exchange your asset for USDT. This will guarantee your profit without worrying about any price loss.
Secondly, USDT has the potential to be used as digital cash in the global remittance system. Money sent with USDT is guaranteed to be remitted in the exact fiat value without incurring any loss in transaction fee or commission. You also don’t have to worry about any complex conversion.
Lastly, USDT eliminates transaction delays that impede trade execution within the crypto market. USDT transactions are completed in minutes, this significantly reduces friction associated with fiat deposits and withdrawal which takes a much longer time. This is especially important for investors who often need to move funds quickly to take advantage of arbitrage trading and more.
How to buy USDT
The easiest way to buy USDT in Cambodia is through Remitano. As stated earlier, Remitano is the leading global exchange and P2P platform that supports buying of cryptocurrencies such as BTC, ETH, and more. There are several ways available to buy USDT on Remitano.
- You can buy USDT through the P2P marketplace available on the platform.
- You can buy USDT by exchanging an asset you own e.g. BTC on your Remitano account with USDT. This can be done through the fast Swap feature available on the platform.
- You can buy USDT by depositing fiat into your Remitano fiat wallet through bank transfer. The deposited fiat can then be used to buy USDT.
- You can buy USDT through a credit card.
How to buy USDT with a credit card on Remitano
Buying USDT with a credit card on Remitano is made possible thanks to the Simplex feature available on the platform. The feature enables users to buy Tether and other cryptos with their credit cards. Transaction through the Simplex feature is instant, safe, and secure. Users also enjoy 24/7 customer support in case there is a need for any help.
Please note that the Simplex service is not available in some countries. Therefore, credit cards issued in such countries are restricted from using the service. Head on to Simplex, you’ll find out that Cambodia is eligible to use this service.
Steps to buying USDT with a credit card
Step 1 — Log on to Remitano. Click on the register at the top right corner to create an account. Register with one of the options provided. Make sure you read and understand the terms and conditions before proceeding with the registration. If you already have an account, click Login, fill in your details to access your account.
Step 2 — Once your account has been successfully created, head to the KYC/AML section to complete the KYC process (it is mandatory). Provide the requirements to complete the KYC/AML verification. Be rest assured your data is safe, secure, and encrypted with Remitano.
Step 3 — Once your account has been fully set up, proceed to your account dashboard. Navigate to the “Buying Ad” area, then locate the Simplex payment method represented by “Simplex seller” on the P2P interface.
Step 4 — Enter the volume of USDT you wish to buy, check the equivalent amount you have to pay in fiat and click “Buy now”. Confirm the transaction information again, and click “Buy now” to redirect to the Simplex payment gateway.
Step 5 — On the Simplex payment gateway, fill in the Payment form (including Payment details and Personal information), and click “Pay now”. Be rest assured your data is safe, secure, and encrypted.
Step 6 — Verify your email and phone number, upload your identity document and fill in the required information on the verification tab.
Step 7 — Click confirm to complete your request and get your purchased USDT in your Remitano wallet.
Where should you keep your USDT?
The USDT you bought can be stored safely in your Remitano USDT wallet. Remitano wallet is safe and secure and it supports deposit, withdrawal, and swaps with any other crypto.
Find out more information about the most valuable stablecoin in the crypto market.