USDT (Tether) on Algorand now available for purchases via Transak
Transak, a single integration for applications to accept fiat-to-crypto deposits from a global user base, today announces listing of USDT on Algorand network with immediate effect. Users can now purchase USDT on Algorand and deposit directly to their supported Algorand wallets.
Please note the following:
- Purchases are available with immediate effect.
- Asset Name: USDT(Tether) on Algorand Network
- Ticker: USDT
- Network: Algorand
- Link to buy: https://global.transak.com/
Algorand is transforming economic models and economies of all kinds. Founded by Turing Award–winning cryptographer Silvio Micali, Algorand’s high–performing Layer-1 blockchain is unparalleled for bringing fast, frictionless, and inclusive technologies to everyone. Algorand is reshaping every industry–from TradFi and DeFi to new creator economies and beyond. With an extraordinary commitment to interoperability and consistent delivery, our sustainable technology powers more participation, transparency, and efficiency for all. As the technology of choice for 2000+ global organizations, the Algorand ecosystem is transforming the next generation of financial products, protocols and exchange of value. For more information, visit www.algorand.com.
What is Tether
Tether leverages blockchain technology to allow users to store, send and receive stablecoins. These digital tokens are pegged to the US dollar, euro, and offshore Chinese yuan. This enables investors to take advantage of the speed and security of digital assets, while maintaining the everyday utility of fiat currencies. USDT is the most widely traded cryptocurrency in terms of transaction volume, and has the third largest market cap of all cryptocurrencies.
How Tether is using Algorand
Using Algorand's network, USDT can be transacted at over 1000 transactions per second in a scalable, secure, and decentralized way. With Algorand’s simplified asset creation, instant financial exchange, and immediate transaction finality, Tether is leveraging technology at the forefront of open financial innovation.
Transak is a single integration for applications to enable fiat-to-crypto on-ramp from a global user base. It does so by providing API-driven fiat payment methods to on-ramp to 100+ crypto assets and abstracting away the complexity of user KYC, risk monitoring & compliance, payment methods and customer support. Transak’s widget can be integrated into an app in just a few lines of code.
Transak currently supports 125+ countries, 100+ cryptocurrencies and 75+ blockchains. Transak is backed by top VCs, including Consensys and graduated from the Tachyon accelerator program. Connect with Transak on Twitter or LinkedIn, or visit https://transak.com/ for more information.
How to buy USDT (Tether) on Algorand via Transak?
Step 1: Go to global.transak.com
There, you'll be met with our crypto onramp widget.
Step 2: Select your fiat currency and payment methods
Choose between Transak’s available payment methods and currencies. Enter the total amount of fiat currency you want to spend on your crypto onramp.
Step 3: Select the crypto currency USDT on Algorand Network
From the crypto currency list, select USDT and make sure you select it on Algorand Network
Step 4: Enter the amount you want to purchase
The minimum and maximum amounts of USDT on Algorand you can purchase may vary from country to country. It also depends on what fiat currency you are using to buy the crypto. Minimums and maximums will be noted at the time of your purchase.
Step 5: Notice the exchange rate and fees
Click “See calculation” and review all fees before moving ahead with your transaction.
Read more about Transak’s fees.
Step 6: Click “Buy Now”
Note the processing time to get an expectation as to when you can receive your $USDT.
Step 7: Enter your Algorand network address
Here, you need to safely enter your correct Algorand network address
Step 8: Do KYC with Transak, if KYC already done, proceed to Pay
Now we need to verify you with a simple KYC process. Please follow the step by step guide on the screen. Post approval, you can proceed to Pay. If your KYC is already approved, then you will be directly to pay
Step 9: Receive Crypto
Post payment, you will receive the crypto in your addressed wallet directly. Incase of any unexpected delays or issues, please feel free to reach out to us on support.transak.com