In recent years, cryptocurrencies have transformed from a digital payment method that few people are interested in or even aware of into a rapidly growing industry that has become excessively popular. The concept of physical money, which everyone is very familiar with, has evolved and has given its place to digital payment, namely electronic money. Now it looks like the virtual money concept developed even one step further, transmitting its way to cryptocurrencies. Especially in the last few years, the number of people trading cryptocurrencies in the world and the number of institutions that accept cryptocurrencies as payment methods have increased enormously.
With the last cryptocurrency rally that started in the second half of 2020, Bitcoin has gained unprecedented interest in Asia, Eastern Europe, and South Africa, along with Western Europe and the USA. The demand for the leading cryptocurrency started to increase day by day. The United Arab Emirates, one of the oil-rich in the Arabian Peninsula, envisioned crypto as the payment method of the future. In Dubai, which has the most visited resorts in the world, conferences about cryptocurrencies continue to be held frequently.
Cryptocurrencies are heating the world. Every day, we read more and more about cryptocurrencies, and we notice the interest of celebrities in this new payment method. As a result, people start to wonder if they should invest in cryptocurrencies or how reliable is this. One of the most reliable methods preferred by those who have no previous experience is to buy cryptocurrencies in Dubai with cash.
Cash is one of the most preferred ways for people who want to protect their anonymity while purchasing cryptocurrencies. In fact, this method is one of the easiest and fastest ways to buy cryptocurrency, and you don’t need to share your credentials when you use this method.
Besides buying cryptocurrency fast and anonymously, some people are also concerned about the volatility of cryptocurrencies. People who are worried about the fluctuating price charts every day take their first steps into the cryptocurrency world by buying stable cryptocurrencies. Stablecoins seem like a solution to the volatility of cryptocurrencies. Especially Tether, which is the most popular of them.
Let’s first look at what Tether (USDT) is, why it’s called a stablecoin, and then where you can buy Tether in Dubai with cash.
Tether (USDT) is a stablecoin created in 2014 by Tether Holdings Ltd. and operator of cryptocurrency exchange Bitfinex. It has always been a popular cryptocurrency with strong interest from investors who are concerned about the volatility of cryptocurrencies and hesitant to step into the world of cryptos.
In the beginning, the Tether was known as Realcoin, almost as if to immediately underline the difference with other cryptocurrencies. Four months later, Realcoin was replaced by Tether (USDT).
Considering that Tether is a dollar-backed cryptocurrency, we start to see the benefits of investing in Tether. Price volatility in Tether is almost non-existent. Tether Holdings Ltd’s money reserves allow USDT to always equal 1 USD. Since Tether is equal to 1 US Dollar, making dollar transfers with Tether will save you from the extra money transfer fee.
Its value is almost always fixed at $1. Therefore, Tether does not have the volatility risk inherent in cryptocurrencies whose value is not pegged to other assets, for example, Bitcoin.
If you’re thinking, “can I use cash to buy Tether?” or “where can I buy Tether in Dubai with cash?” You should know that buying Tether (USDT) takes place through a process similar to that which is carried out for other cryptocurrencies.
When it comes to buying Tether with cash in Dubai, the first exchange that comes to mind is Coinsfera, the world’s first and only Bitcoin Shop. Located in the Iris Bay tower, Coinsfera Bitcoinshop has a convenient location (12 minutes away from downtown Dubai) where both locals and tourists can easily visit and buy Tether with cash in minutes.
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