How to Buy Tether (USDT) in Australia

Tether (USDT) is a stablecoin: a cryptocurrency designed to hold a steady value by tracking a reference asset. In USDT's case that reference is the US dollar, with the aim of keeping each token worth about one US dollar. It was one of the first stablecoins and is today the most widely traded, used across the crypto market as a steady unit to price and settle trades.

Unlike a coin such as Bitcoin, USDT is not built to rise or fall with market sentiment. Its purpose is stability, so people can move value without swapping back to a national currency each time. On Digital Surge, USDT trades as an Ethereum (ERC20) token and is listed in the Ethereum Coins category, though the token also exists on other networks such as Tron.

• Type: a fiat-referenced stablecoin, aiming for about one US dollar per token.
• Issuer: Tether Holdings Limited, a British Virgin Islands company.
• Launched: in 2014, first as Realcoin and renamed Tether later that year.
• Networks: issued on several blockchains, including Ethereum and Tron.
• Main use: a trading and settlement pair, plus cross-border transfers.

Who created Tether and when?

Tether began in 2014 under the name Realcoin, co-founded by Reeve Collins, Brock Pierce and Craig Sellars. It was renamed Tether in November of that year. The token is issued by Tether Holdings Limited, a company based in the British Virgin Islands. New USDT is created only for the issuer's verified customers who pay in to receive it, which is how fresh supply enters the market.

How does Tether hold its dollar value?

The issuer states that every USDT is matched by its reserves, so tokens can be redeemed for value on the other side. When a verified customer pays in, new USDT is issued; when tokens are redeemed, they are taken back out of circulation. This create-and-redeem process, together with trading across the market, is what keeps the price close to one US dollar. Tether publishes reports on its reserves, and the make-up and management of those reserves are the issuer's responsibility, not an exchange's.

What is USDT used for?

USDT's main role is as the money side of the screen across crypto exchanges: the steady pair people use to move between coins without cashing out to a national currency each time. It is also used for cross-border transfers, since it can be sent quickly and cheaply on-chain, and it is widely supported in decentralised finance (DeFi) applications. Some people hold USDT simply to keep a dollar-referenced balance during volatile market conditions.

Is USDT the same on every blockchain?

USDT exists as separate versions on different networks, such as an ERC20 token on Ethereum and a TRC20 token on Tron. Each version aims for the same one-dollar value, but they are not interchangeable on-chain: you must send and receive on the same network. On Digital Surge, USDT is handled as an Ethereum (ERC20) token, so withdrawals settle on the Ethereum network.

Things to consider before buying Tether

A stablecoin's peg is a goal, not a guarantee. USDT can trade slightly above or below one US dollar, and its stability depends on the issuer and its reserves. Because USDT tracks the US dollar, its value in AUD still moves with the AUD/USD exchange rate, and it is not designed to grow in value over time. If you self-custody, keep your keys safe and use the correct network, as on-chain transfers cannot be reversed. This is general information only and not a recommendation. Consider your own circumstances and do your own research before buying.

Why Buy Tether?

Many Australians hold Tether because it aims to track the value of the US dollar, which makes it a steady trading pair for moving between coins and a way to hold a dollar-referenced balance without cashing out to Australian dollars. Digital Surge lets you buy USDT with AUD via PayID or bank transfer and offers Australian-based support. This is general information only and not a recommendation; consider your own circumstances before buying any cryptocurrency.

Buying Tether in Australia: the quick recap

To buy Tether in Australia on Digital Surge: create a free account, verify your ID, deposit AUD via PayID or bank transfer, then buy Tether. The whole process takes about five minutes, and your Tether is held safely in your Digital Surge wallet.

Learn more about Tether

On Digital Surge you can see the live Tether price and USDT to AUD converter, see other coins in the Ethereum Coins category, or read what cryptocurrency is before you buy Tether in Australia.