Exchange Review

How to buy USDT in Australia

Summary: The best way to buy USDT (Tether) in Australia is with an AUSTRAC-regulated crypto exchange. We recommend CoinSpot for fast AUD deposits and low fees.

By 
Austin Barwick
 on  
August 13, 2022

USDT (Tether) is the largest stablecoin in the world by market capitalisation, with over $65 billion USDT issued across CeFi and DeFi. Many investors use USDT to hedge the volatility of cryptocurrencies or to stake it on platforms to earn interest.

In this guide, we will outline the best way to buy USDT and stake it to earn safe yields on a secure exchange.

Table of Contents

How to buy Tether (USDT)

The easiest way to buy USDT in Australia is with CoinSpot. This is because they offer fast and cheap AUD deposits, low trading fees, and a secure platform to stake & earn interest on your USDT. Their digital asset trading platform is the largest in Australia with over 2 million users across their web & mobile app.

You can get started buying USDT with this simple guide:

  1. Create an account: Sign up to CoinSpot and verify your identity.
  2. Deposit AUD: Deposit AUD via bank transfer, POLi, PayID, Cash, Osko or BPAY.
  3. Find USDT: Search for USDT on CoinSpot's token lists.
  4. Execute trade: Input the AUD amount of USDT you want to buy and execute your trade.
Buy USDT in Australia
Find Tether USD (USDT) on CoinSpot in Australia.

Where to stake USDT in Australia

If you are interested in staking to earn interest on your USDT, you will need to withdraw your USDT from an exchange like CoinSpot to a DeFi application. The most trusted money-market or lending protocol in Decentralised Finance is AAVE. They have over $10 billion in value locked across multiple networks like Ethereum, Avalanche, and Polygon.

Stake USDT in AAVE

The best USDT yield on AAVE is through their Avalanche v3 market. This currently offers over 6% APY for USDT deposits that are paid out in USDT yield and Avalanche (AVAX) token yield.

Deposit USDT to earn over 6% APY on USDT via AAVE.

What is Tether USDT

Tether USDT is a digital asset that is pegged to the US Dollar. Tether was created in October 2014 on the Bitcoin blockchain as an ERC20 token, and later migrated to the Omni Layer Protocol in April 2017. The total supply of USDT is capped at $65 billion, meaning there are over 65 billion USDT tokens in circulation.

The company behind it is called Tether Limited Inc, which was founded by Brock Pierce, Reeve Collins, and Craig Sellars. Tether Limited is now owned by a Hong Kong-based financial services and technology company called iFinex Inc.

USDT/AUD Price

The chart below is the USDT/AUD live price.

Buy USDT

Author Bio

Austin is a NFT and Metaverse maniac - with over 20% of his portfolio invested into the space. He is our resident multi-chain NFT expert.

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