We are proud to announce the addition of USDT (Tether) to our growing list of supported cryptocurrencies that our users can now trade on PDAX.
Dubbed as digital money for a digital age, USDT is a stablecoin that was launched in 2014 and is pegged to the US dollar.
As of listing USDT this week, the stablecoin occupies an impressive position in the global chart being the fourth biggest cryptocurrency by market capitalization, amounting to around US$ 10 billion.
What is a stablecoin?
Stablecoins are digital assets that aim to offer the best of both cryptocurrencies and traditional currencies.
By being pegged to a reserve asset with stable valuation like fiat currencies, stablecoins avoid the price volatility that is often seen with other cryptocurrencies like bitcoin.
At the same time, stablecoins offer advantages that have made cryptocurrencies indispensable to its users when it comes to cheap and rapid transfer of value around the world such as transparency, security, privacy, and low transaction fees.
What is Tether?
Tether, which trades under the USDT symbol, is a blockchain-based cryptocurrency that started trading in 2015.
It was launched as RealCoin in July 2014 and was rebranded as Tether in November of the same year by Tether Ltd., the company that is responsible for maintaining its reserve amounts of fiat currency.
How to start trading USDT
To start trading USDT/PHP on PDAX, sign up for a FREE account by following these steps:
- Visit www.pdax.ph.
- Click Create Account.
- Provide the details needed on the registration page.
- Click the confirmation link that will be sent to the email address you provided.
- Set a password.
- Verify your account.
Once verified, cash in to add funds to your PDAX balance by using any of the available cash-in options and start trading some of the world’s leading cryptocurrencies!
In addition to USDT, users can also trade Bitcoin (BTC), Ether (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH) on PDAX.