USDT is a stablecoin pegged to the US dollar. It is issued by Tether Limited and is one of the most widely used stablecoins in the cryptocurrency world. The idea behind stablecoins like USDT is that they provide a way for users to protect the value of their funds from market fluctuations, as their value is pegged to the value of the US dollar at a 1:1 ratio.
USDT is widely used in trading and digital projects because it provides stability compared to other digital currencies that experience high volatility. For several reasons, including transparency, stability, and ease of transfer, as Tether periodically reports its reserves to ensure that every #USDT is backed by one dollar in reserve.
How does USDT work?
USDT (Tether) acts as a stablecoin by pegging its value directly to the US dollar, such that 1 USDT is always equal to 1 US dollar. This is done by ensuring that each unit of USDT is backed by a cash reserve or equivalent assets in US dollars.
When users deposit USD funds into Tether, an equivalent amount of USDT is issued. For example, if you deposit $1,000, Tether will issue 1,000 USDT into the market. This means that the company guarantees that every USDT issued has a reserve of USD.
When a user wants to convert USDT back to USD, they can return USDT to Tether, and the company will burn (cancel) the recovered USDT and return the USD to the user's account.
USDT acts as a stablecoin thanks to its peg to the US dollar and the reserve that backs each coin issued. It is widely used as a means of trading cryptocurrencies in a more stable and less volatile way compared to other cryptocurrencies.
Cheapest way to buy USDT in UAE
#BINANCE is one of the largest and most popular cryptocurrency exchanges in the world, offering users an efficient and low-cost way to buy USDT. One of the notable advantages of using #ŰšÙÙۧÙŰł is the low fees it charges on its purchases, with fees as low as 0.1% on trades, making it the perfect choice for investors looking for cost-efficiency.
Buying USDT on Binance is very easy, and there are several ways to do so depending on what payment method or purchase method suits you. Here are the steps and methods to buy USDT on Binance:
First buy USDt with credit card
The picture shows you all the details and here is the method with a detailed explanation
Go to the page to buy USDT with AED on Binance through this link https://www.binance.com/en/crypto/buy/USD/USDT
Select Tether USDT and UAE Dirham AED from the dropdown list.
Select âCardâ as your payment method, and click âConfirmâ.
If you havenât purchased crypto on Binance with a credit or debit card before, the âAdd New Cardâ option will appear. Click âAdd New Cardâ, enter your card details and click âConfirmâ.
Check the details and confirm the order on the payment confirmation page within the specified time frame. Use "Refresh" to get a new quote.
Click "Confirm" to submit your order.
You will be redirected to the bank page to enter the One Time Password (OTP). Follow the instructions to verify the payment.
Once verified, the coin will appear in your instant wallet.
Second: Buy Tether USDt using Google Pay or Apple Pay
Go to the page to buy USDt with AED on Binance
Select Tether USDt and AED from the dropdown list.
Select either Google Pay or Apple Pay as your payment method and tap Confirm.
Click the "Buy" button, check the details and confirm the order on the payment confirmation page within the specified time frame. Use "Refresh" to get a new quote.
Click âConfirmâ to submit your order and the coin will appear in your instant wallet.
Third, buy USDT from person to person P2P
Buy Tether USDt directly from other users via Binance P2P service
Go to Binance P2P page to buy USDT
Select the UAE Dirham, click on the âUSDTâ trading pair, and choose from a wide range of supported payment methods as we see in the image below:
Step 1 Choose a Buy Ad
01 Select a digital currency, local currency and payment method.
02 Check advertiser information.
03 Check price and limits.
04 Select a purchase ad and click âBuyâ.
Step 2 Submit an application
01 Check advertiser terms.
02 Enter the amount in either local currency or digital currency.
03 Click "Buy" to place an order.
Step 3 Make payment
01 Confirm the order details.
02 Transfer the funds in local currency to the advertiser's (seller's) account provided on the page.
03 After transferring the money, do not forget to click on âTransfer completed, notify sellerâ to continue with the order.
Step 4 Receive cryptocurrencies
After clicking the âTransfer Completedâ button, you will be taken to the âWaiting for Releaseâ page. Once the seller verifies the payment, he will release it and you will receive the cryptocurrencies!
Here we have provided a detailed explanation of how to buy USDT in the United Arab Emirates. To know more details, you can visit the following link: https://www.binance.com/ar/how-to-buy/tether
Good luck to all
