USDT (Tether) Explained  

USDT, also known as Tether, is a type of cryptocurrency classified as a stablecoin. Unlike many cryptocurrencies that experience a high level of value volatility, USDT’s value is pegged to the U.S. Dollar. This means that one USDT is designed to always be worth approximately one U.S. dollar. This stability makes USDT a popular choice for those looking to avoid unpredictable price fluctuations associated with other digital assets.  

USDT as an ERC-20 Token  

USDT is available on several blockchain networks, but the most common version is the ERC-20 token on the Ethereum blockchain. ERC-20 is a set of rules for tokens on the Ethereum blockchain, ensuring they work with various wallets and exchanges. As an ERC-20 token, USDT benefits from the security, decentralization, and smart contract capabilities of the Ethereum network.   

CoinFlip ATMs only support ERC-20 USDT, so you’ll need an ERC-20 wallet to purchase. By the way, the CoinFlip Wallet is ERC-20 compatible.  

USDT is also on other blockchains, like Tron, Algorand, and Liquid, which require their own wallets. Learn more about the ERC-20 standard and ERC-20 wallets here.  CoinFlip ATMs do not support these tokens at this time. 

Why Use USDT?  

• Stability: USDT’s value is tied to the U.S. Dollar, providing a more stable value.  

• Liquidity: USDT is accepted on most cryptocurrency exchanges, making transactions simple.  

• Speed: USDT transactions on the Ethereum network are generally faster than traditional banking.  

How to Buy USDT from a CoinFlip ATM  

1. Find a CoinFlip ATM: Use the CoinFlip website or CoinFlip Wallet app to locate the nearest ATM.   

2. Prepare Your Wallet: Confirm your crypto wallet supports ERC-20 tokens. You’ll need to provide your wallet address, which starts with, “0x…”   

3. Visit the ATM: Go to the CoinFlip ATM and select the option to buy cryptocurrency. Choose USDT (not available in Texas).   

4. Enter your phone number and the amount you would like to purchase: Purchasing limits may apply.  

5. Scan Your Wallet: When prompted, scan your wallet to automatically enter the wallet address.  

6. Insert Cash: Insert the amount of cash you wish to convert into USDT. The ATM will display how much USDT you will receive.  

7. Confirm the Transaction: Review the details and confirm. The ATM will process your request and send USDT to your wallet.  

8. Receive Your USDT: After a brief processing time, you’ll see the USDT in your wallet. Congratulations, you’ve purchased USDT from a CoinFlip ATM!  
     
   If you encounter any issues, our customer support team is available 24/7 at (877) 757-2646.  

USDT and Ethereum Network Costs

If you see an error when you try to send USDT, it may be because you need more Ether to pay network fees.

The Ethereum network can add its own costs to process ERC-20 transactions, like USDT. These charges are paid using Ether, Ethereum's native currency. When you buy an ERC-20 token from CoinFlip products, like the ATMs or OTC, we manage these costs automatically, then add it to the total cost of the transaction. It's usually a few dollars, but the exact amount will display on the screen for you to review before finalizing a transaction. But it's important to note that once you have USDT in your wallet, you will also need a little Ether to pay network fees if you want to send tokens to another wallet.

What Next?  

USDT, an ERC-20 token, offers a more stable way to engage with the cryptocurrency market. It is accepted on several decentralized exchanges and online stores and CoinFlip ATMs makes buying USDT easy, even for beginners.  

Other ERC-20 tokens available at CoinFlip ATMs include:  

• Chainlink (LINK)  

• Pax Gold (PAXG)  

• US Dollar Coin (USDC)  

• US Dollar Tether (USDT)  

Availability varies by U.S. state or country. Visit our offerings page for more details.  

If you are interested in an ERC-20 token that isn’t listed above, need personalized service, or you want to purchase with a wire transfer, contact our OTC group, CoinFlip Preferred.