What is Tether (USDT)?
Tether (USDT) is the third-largest cryptocurrency by market capitalization, ranking behind only Bitcoin and Ethereum. As the most widely adopted stablecoin, USDT maintains a 1:1 peg to the US dollar, meaning each token is backed by equivalent reserves of USD or assets.
Originally launched in 2014 as RealCoin, this stablecoin operates across multiple blockchains after initially being available only on Bitcoin's network. Tether Limited, a Hong Kong-registered company affiliated with BitFinex exchange, oversees its issuance and reserves.
Beyond USD-pegged USDT, Tether has expanded to offer stablecoins tied to gold (XAUT), euros (EURT), and other fiat currencies.
How Does USDT Work?
USDT's stability mechanism relies on:
- 1:1 dollar reserves maintained by Tether Limited
- Supply regulation through minting (issuance) and burning (destruction) of tokens
- Regular audits (though transparency has been historically debated)
Currently, 679.5 billion USDT are in circulation worldwide, with supply adjusted according to reserve holdings.
Step-by-Step Guide to Buying USDT in Malaysia
Step 1: Create a Bitget Account
- Visit Bitget's official website
- Complete email verification and KYC procedures
- Enable two-factor authentication for security
Step 2: Fund Your Account
Choose your preferred deposit method:
| Payment Method | Processing Time | Fees |
|---|---|---|
| Credit/Debit Card | Instant | 0-3% |
| Bank Transfer | 1-3 business days | Free |
| E-Wallets (GrabPay, Boost) | Instant | 1.5% |
👉 Get instant approval for card purchases
Step 3: Purchase USDT
Navigate to "Buy Crypto" and:
- Select USDT from the token list
- Enter purchase amount (minimum $5 equivalent)
- Confirm transaction details
Your USDT will appear in your Bitget wallet immediately after purchase.
Why Choose Bitget in Malaysia?
- Regulated platform compliant with Malaysian financial laws
- Competitive fees (0.1% spot trading fee)
- 24/7 customer support via live chat
- High liquidity across USDT trading pairs
USDT Investment FAQs
Is USDT safe to hold long-term?
While USDT maintains its peg historically, consider diversifying with other stablecoins like USDC for risk management.
Can I convert USDT back to MYR?
Yes, Bitget allows withdrawals to Malaysian bank accounts within 1-3 business days.
What's the minimum USDT purchase?
Most exchanges require minimum purchases equivalent to $5-10 in local currency.
Alternative Ways to Acquire USDT
- Earn USDT through Bitget's referral program
- Trade for USDT using other cryptocurrencies
- Receive payments in USDT from freelance work
Note: Always verify wallet addresses when receiving USDT, as transactions are irreversible.