Founded in July 2014, Tether (USDT) is a pioneering cryptocurrency known as a "stablecoin." Its primary goal is to maintain a fixed 1:1 exchange rate with the U.S. dollar. Tether was an early stablecoin, built upon the Mastercoin (Omni) protocol layer for Bitcoin, which introduced the concept of stablecoins in 2012. Tether's innovative fiat-collateralized stablecoin model, backed entirely by U.S. dollar deposits held in banks, addresses the challenges of cryptocurrency volatility and fiat-to-crypto convertibility, making it the most widely used stablecoin in the market today.
1. Create an Account
Visit the Netcoins website and click on the sign-up button. Or download the Netcoins app from the app store for mobile. Enter your email address, create a strong password, and agree to the terms and conditions. You will receive a confirmation email, click on the link to verify your email address.
2. Fund It
Choose your preferred funding method: bank wire transfer, interac e transfer, crypto deposit, or cash deposit. Follow the prompts to transfer funds into your Netcoins account. The process is quick and incurs no fees.
3. Start Trading
Why Buy USDT?
Tether offers a compelling solution for cryptocurrency enthusiasts seeking stability amidst the unpredictable price fluctuations in the crypto market. By maintaining its value in relation to the US dollar, Tether allows users to enjoy the benefits of stability without the need to exit their chosen blockchain network to convert their assets back into fiat currency. Tether (USDT) is a prime example of a stablecoin, a category of cryptocurrencies designed to maintain a consistent valuation over time. Tether proves particularly valuable to investors aiming to shield themselves from the customary volatility associated with cryptocurrencies while retaining their assets within the crypto ecosystem.
What Can You Do With USDT?
Tether (USDT) is the most significant stablecoin by market capitalization. Many crypto traders use stablecoins like USDT to move their assets between different cryptocurrencies or convert them into traditional fiat currencies. USDT always keeps its value tied to the US dollar, ensuring stability.
FAQs
Why is KYC (Verification) required?
Netcoins USA Inc. is a licensed money service business under FinCEN, we adhere to the strict guidelines set by them for Money Transmitter Businesses. We are required to have a Know-Your-Customer (KYC) process and compliance program in place. KYC is a process that allows us to verify the identity of our customers, as per American regulations.
What do I need to provide for your verification process?
You will have to provide your email address, phone number and personal information including your first name, last name, address, date of birth and a piece of identification (like a driver’s license). Most users are verified at this point through our automated process. If you don’t pass the automated KYC process, you will have to go through an additional document verification stage. This is important and required as we are a regulated money service business in the US.
How can I fund my account?
Your Netcoins account can be funded with a crypto deposit, regular ACH, ACH pre-funding or a bank wire transfer. Once you have funds in your Netcoins account, you’ll find that it’s super easy to buy USDT in the US.