Tether (USDT) is the largest and most used stablecoin, a type of cryptocurrency that’s pegged to the value of fiat currency. It was created to give users a way to easily send and receive money, as well as quickly trade other cryptocurrencies. Because it offers all of the benefits of crypto without the volatility, it’s ideal for online payments and making deposits and withdrawals at online casinos.
Tether is pegged to the value of the US dollar and was one of the first stablecoins created. It’s now the third most popular cryptocurrency based on market capitalization, although other stablecoins, like BUSD, have since been launched. Before you start using Tether for online payments and gambling, we recommend taking the time to understand how it works. In this guide, we’ll explain everything you need to know before you start using USDT.
How Tether works
Although cryptocurrencies are designed for fast and simple online payments, their price volatility is often seen as a downside. If you’re trying to purchase something, it doesn’t help if the value of your currency is always changing. Big price movements are good for investors and traders but bad for the overall utility of the coin.
Stablecoins such as Tether are designed to solve this problem. Rather than being a speculative asset, the value of Tether is pegged to the value of the US dollar. This means that, in theory, 1 Tether can always be traded for $1, no matter what the market conditions are. It makes it ideal for trading other coins and also helps facilitate easier online payments. Rather than worrying about sudden changes in your coin valuation, you’ll always have the same amount of funds to use.
Tether blockchain
Like any other cryptocurrency, Tether operates on a blockchain, which means that transaction data is stored on a public chain that is impossible to tamper with. This allows it to operate without oversight and creates a high level of trust. Tether was originally based on the Bitcoin blockchain, but it also supports Ethereum, TRON, EOS, Solana, and other networks.
Unlike other cryptocurrencies which are more decentralized, like Litecoin, for example, Tether is owned by a company iFinex, which also operates an exchange. The coin is fully controlled by this company, which has led to some users not trusting it. However, iFinex does offer transparency when it comes to how the coin is pegged.
How Tether is pegged
Tether is an example of a fiat-collateralized currency, which means that it’s backed by reserves of fiat currency, in this case, the US dollar. For each Tether that’s minted, the reserve holds one US dollar. This way, anyone can always trade their Tether for dollars if needed.
For full transparency, Tether updates a full breakdown of its holdings every day on its website. While the principle of fiat-collateralized stablecoin is that it backs every token 1:1 with the pegged currency, this isn’t always the case. Currently, the company holds around 85% of its reserve in cash, while the rest is spread between other investments.
Purchasing Tether
You can easily purchase Tether from almost any cryptocurrency exchange, either with fiat currency or by trading any coins you already have. It’s important to use a trusted exchange, with most preferring to use Coinbase, Kraken, or Binance (read more about the difference between USDT and BNB here), which are the top three. Once you buy, we recommend you send your Tether straight to a wallet.
Some crypto casinos allow you to purchase Tether directly through their platform. But as with everything else, we recommend sticking to the trustworthy ones:
Bitcasino: Here, you’re greeted with a Tether-specific welcome bonus: 100% up to 1,500 USDT. Tournament prizes also come primarily in USDT. As for transactions, they’re about as smooth as it gets—instant and fee-free. Buying crypto is also super streamlined.
Mega Dice: This one comes with an integrated Changelly platform, allowing for a smooth crypto purchase. Once you fund your Tether balance, you can claim a 200% welcome bonus up to 1 BTC (or USDT equivalent), plus 50 free spins. Transactions are fast and free of fees.
Stake: A crypto casino giant where you can deposit USDT freely, with no minimums and no maximum withdrawal limits. The bonus system is affiliate-based, and with our CRYPTOCASINOS code, you’ll unlock a 200% bonus on your first deposit. You can load USDT directly from the site via MoonPay.
mBit: Alongside the welcome bonus and other perks, you can also grab 25 no deposit free spins just by joining the casino’s Telegram channel. And before choosing from the 7,600+ games to try and multiply your USDT, you can test them in demo mode. The on-site crypto purchasing process is also super straightforward.
Sending Tether
You can find lots of different crypto wallets which are capable of holding Tether, and if you already own a crypto wallet, you may be able to use it, as Tether is supported on a number of different blockchains.
To send your Tether from your exchange to your wallet or crypto casino account, you simply need to copy the recipient address and paste it into the required box. Then enter the amount you want to send and choose the network you send over. Be aware that different networks may have different fees, and some may take longer to send than others.
Always make sure you choose a network that’s supported by both Tether and the address you’re sending to. Getting this wrong could result in your coins being lost. If you’re unsure, we recommend doing a small test transaction, sending the minimum amount possible.
Tether features
There are lots of ways in which Tether is unique among other popular cryptocurrencies like Bitcoin. Here are some of its main features:
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Low Volatility – The main feature of Tether is that it has extremely low price volatility. In most cases, the price doesn’t rise or fall beyond $1 which makes it more useful for purchases and trading compared to other cryptocurrencies. While there have been instances where the price has changed, these movements have been small, and Tether has continued to allow users to trade for $1 per coin.
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Reserve Backed – Tether is able to maintain its 1:1 ratio with the US dollar due to being backed by a fiat reserve. Tether aims to hold cash reserves matching that of the number of Tether coins in circulation. The company is transparent about its holdings, and you can check this on their website, with daily updates.
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Support for Multiple Blockchains – Tether is available on multiple blockchains, allowing you to choose which network you use when sending or receiving your coins. This helps to prevent congestion and allows you to select the network that works best in terms of speed and costs. It also means you can store your Tether in existing crypto wallets.
The history of Tether
Here are some of the events in the history of USDT:
| Date | Event |
|---|---|
| July 2014 | RealCoin launches on Bitcoin network. |
| Nov 2014 | RealCoin rebrands as Tether, promising full fiat backing. |
| Jan 2015 | Tether is listed on Bitfinex. |
| Nov 2017 | $31M in USDT stolen; hard fork follows. |
| 2018 | Tether makes up 80% of Bitcoin trading; concerns over price manipulation arise. |
| 2019 | Tether surpasses Bitcoin in trading volume. |
| Apr 2019 | NY Attorney General investigates Tether & Bitfinex for fund misuse. |
| Feb 2021 | Tether & Bitfinex settle for $18.5M, agree to report reserves. |
| May 2022 | Tether briefly drops to $0.96 after TerraUSD collapse but maintains 1:1 redemption. |
| Oct 2023 | Paolo Ardoino becomes CEO of Tether. |
| Jun 2024 | Tether launches Alloy (XAUT), a USD-pegged, gold-backed stablecoin. |
| Dec 2024 | Tether announces launch of open-source AI platform (Tether.ai) for Q1 2025. |
| Jan 2025 | USDT integrates with Bitcoin’s Lightning Network for faster transactions. |
| Feb 2025 | Tron introduces gas-free USDT transfers. |
| May 2025 | Tether announces plans for a U.S.-compliant stablecoin. |
What is tether used for?
One of the most common use cases for USDT is online trading. Traders often move in and out of USDT to protect their funds from market volatility, especially during downturns. It’s also used heavily on exchanges for pairing with other cryptocurrencies, thanks to its consistent value.
But USDT isn’t just for traders. It’s also gaining serious traction in the online gambling space, where players value speed, stability, and lower transaction costs. Many crypto casinos now accept USDT for deposits and withdrawals, and some even offer special bonuses just for using it. With same-day payouts and minimal fees (especially on networks like Tron), it’s an attractive option for both casual and regular players.
Beyond that, USDT is used for remittances, cross-border payments, and DeFi applications.
Tether for gambling
The nature of Tether makes it more suited to online gambling compared to other cryptocurrencies, as it’s less volatile while supporting fast and convenient payments. Crypto casinos, which are online gambling platforms that accept crypto deposits and withdrawals, widely accept USDT.
Crypto casinos offer thousands of exciting games and lots of great bonuses too. The experience is indistinguishable from a regular online casino, only it’s much simpler to get started. You can easily set up your crypto casino account and start playing using Tether, but there are a few things you should know first.
Pros and cons of using Tether for gambling
USDT has become a go-to option for many online gamblers, and for good reason. Still, like any payment method, it comes with both perks and potential drawbacks.
Pros:
- Exclusive bonuses: Some online casinos offer special promotions or bonuses specifically for USDT users, providing added value for choosing this stablecoin.
- Stable value: USDT maintains a 1:1 peg with the US dollar, offering a reliable option for players looking to avoid the volatility associated with other cryptocurrencies.
- Fast transactions: Deposits and withdrawals are typically processed quickly, allowing players to access their funds without lengthy delays.
- Low fees: Especially when using networks like Tron, USDT transactions often come with minimal fees, making it cost-effective for frequent gamblers.
Cons:
- Limited acceptance: Not all online casinos support USDT, so players may need to search for platforms that accept this specific cryptocurrency.
- Centralization concerns: As a centralized stablecoin, USDT's operations and reserves have faced scrutiny, which might be a consideration for some users.
- Withdrawal minimums: Some casinos set higher minimum withdrawal limits for USDT, which could be a drawback for players preferring smaller cash-outs.
- Regulatory scrutiny: USDT has been subject to regulatory investigations in the past, which might raise concerns about its long-term stability and acceptance.
Tether casino regulations
The first crypto-focused gambling site, SatoshiDice, launched in 2012, but it wasn’t until 2014 that Bitcasino.io became the first licensed Bitcoin casino, setting the standard for what’s now a booming niche. Today, the majority of Tether-friendly casinos are licensed by the Government of Curacao, providing a base level of regulatory oversight, though it’s lighter compared to stricter bodies like the UK Gambling Commission and Malta Gaming Authorty.
While regulation still varies by region, Curacao licensing helps establish trust. It indicates that the casino meets certain operational standards, offers secure payment processing, and includes player protections like KYC checks and anti-fraud measures. Still, players are advised to double-check things like withdrawal terms, bonus rules, and user reviews before signing up.
Provably fair games
Tether casinos aren’t just offering standard slots and blackjack—they often include provably fair games, which allow players to independently verify game results. These blockchain-based titles, like Crash, Dice, and Plinko, use public cryptographic hashes and seed values to prove each round’s fairness. That’s something traditional casinos simply can’t replicate.
Game developers like Spribe, and Turbo Games power much of this content, and you’ll find it featured heavily on sites like Stake and BC.Game. These games have gained popularity for their transparency and simplicity, especially among players who want quick, trustless gambling experiences.
Alongside these, players still get access to well-known software providers like Pragmatic Play, Evolution, and Hacksaw Gaming, offering the same premium slots and live games found at mainstream casinos.
USDT casino bonuses and transactions
Using Tether at online casinos is quick and hassle-free. Most platforms support multiple blockchain networks for USDT, with Tron (TRC-20) being the most widely used thanks to its fast processing times and near-zero fees. Ethereum-based USDT is also accepted, though players may run into higher gas fees during peak network usage.
Deposits typically land in your account within seconds, allowing you to start playing right away. The minimum deposit amount usually falls between 10 and 25 USDT, depending on the site. Some casinos offer integrated services like MoonPay or Changelly, letting you buy Tether directly on the platform—no need to visit an exchange.
Withdrawals are just as straightforward, though minimum limits tend to be higher, often starting at 40 USDT or more. Most casinos process USDT payouts on the same day, especially if you're using a faster blockchain like Tron. Fees are rarely imposed by the casino itself, but small network charges may still apply depending on the withdrawal method.