Buy Tether in Australia on CoinJar

Buy Tether (USDT) in Australia: Tether (USDT) is the original stablecoin. The Tether whitepaper was first released back in 2012, although the token itself didn’t find widespread use until it was adopted by the exchange Bitfinex in 2015.

At a time when it was difficult for cryptocurrency exchanges to find reliable banking and fiat currency partners, Tether offered a way around the roadblock for the growing crypto industry.

Offering a token that Tether claimed was backed 1:1 with actual US dollars, users could trade USDT without the fiat currency itself having to go anywhere.

How does USDT maintain its value?

Tether claims that USDT is pegged at 1-to-1 with a matching fiat currency and is backed 100% by Tether’s reserves. Users can view the value of USDT tokens on issue versus its total reserves on Tether’s Transparency Page.

It shows the value of USDT tokens on issue versus its total reserves.

What risks should I be aware of when purchasing USDT?

Customers should be aware that there have been no formal independent audits of Tether’s purported reserves. Tether releases quarterly reports which contain Tether’s attestations about their consolidated assets and liabilities.

These quarterly reports have shown that Tether’s reserves are made up of cash, cash equivalents (such as U.S. Treasury Bills), short-term deposits, corporate bonds, precious metals, Bitcoin, “other investments” and secured loans.

Tether’s terms of service also allow Tether to delay the redemption or withdrawal of USDT tokens if there is illiquidity, unavailability, or loss of any reserves held by Tether.