Want to load your online casino wallet with a crypto currency but you’re looking for something besides Bitcoin? We have good news for you. There’s a new player on the block and it works great with online casinos serving the Australian market. Introducing Tether.
Our team has put together this detailed guide to show you how to set up a Tether account, how to buy Tether, find Tether-friendly online casinos and how to make deposits and withdrawals using Tether.
If you are unable to use Tether as a casino payment method for legal or any other reason, you can use cryptocurrencies such as Litecoin, Dogecoin, and Bitcoin. They are the best alternatives to Tether at the time of writing.
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Nobody has predicted changes in the price of Tether so far. So, it is likely to remain stable.
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Yes, you are eligible for online casino bonuses even if you make deposits and withdrawals using Tether. You can also participate in promotions and earn rewards for loyalty.
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Since Tether is unregulated in the US, there is no news of any US facing online casino offering the same as a casino payment method.
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Tether Limited encourages social interaction through its social media accounts on Twitter, LinkedIn, and Facebook. You can also email your issues or questions to the company.
Tether can be defined as a digital currency or cryptocurrency powered not only by blockchain technology, but also ERC30 Tokens and the Omni Protocol. Users of Tether gain access to an open-source software platform, which enables them to issue and redeem the cryptotokens.
Unlike other digital currencies, it is not volatile. In fact, people call it “stablecoin” instead of “cryptocoin” as the value of one Tether will always be equal to 1 USD.
How Was Tether Born? A Brief History of Tether
Tether Limited, the company that released Tether in 2014, has its headquarters in Hong Kong.
The growth of Tether has been slow, but steady. Today, it is considered as the best stablecoin for a variety of investments and transactions. Moreover, Tether guarantees its stability by daily updating its reserve balance on its official website. This supports the company’s claim that 1 USDT (Tether) will always be equal to 1 USD at any given point of time.
It wasn’t long before people started considering USDT as the digital version of USD. The company is now in the process of including other major fiat currencies into the model. It has already incorporated the Euro and plans to incorporate the Japanese Yen soon.
How to Get Started with Tether
If you have never used Tether before and would like to get started, here is a brief guide for you:
First, you have to obtain an Omni or Ethereum electronic wallet as you need a place to store your USDT.
You have to register an account, but you won’t have to reveal a lot of personal information.
Remember to reveal a functioning email address as it is essential for verification.
The Tether team will approve and verify your account.
The company is not fussy about approving accounts, but nobody knows the exact criteria they consider before approving or rejecting a registration.
After you have successfully registered a Tether account, you will receive an email from Tether updating you about your present status.
You have to then load your Tether account.
Be extra careful while loading your Tether account because reversing a transaction could turn out to be an expensive procedure.
You can directly deposit into your Tether eWallet from your bank account, but your bank has to first authorize the transaction.
Once authorized, your funds will immediately reach your Tether account.
Check minimum/maximum deposit and withdrawal limits as the fee you will have to pay depends on the amount you deposit or withdraw.
Transactions in Tether alone are absolutely free of charge.
Tether has been attracting a lot of attention in Australia, especially during the last two years as the company has invited businesses to incorporate the cryptocurrency into their banking sections. More than a dozen companies have actually accepted the invitation, and this move has received nothing but positive feedback from customers and staff members.
Using Tether at Online Casino Sites
There are not many AU online casinos but they are growing in popularity with every passing month. Tether online casinos provide their players not only the conveniences of cryptocurrencies, but also the benefits of stablecoins so that they can play their favourite online slots, table & card games, video poker games, and other games in peace of mind.
If you are interested in playing at Tether online casinos, you have to first find one. This could be a bit difficult as online casinos that offer Tether as a payment method are very few. But this state of affairs is fast changing as a number of reputed cryptocurrency online casinos and real money online casinos that support Bitcoin are fast incorporating Tether into list of banking methods.
Once you find a Tether online casino, you have to open a real money gaming account. It is now time to fund your gaming account with USDT.
Guide to Making a Deposit at Tether Online Casinos
When you are ready to make a deposit at your Tether online casino, you have to follow these steps:
Open an account at the Tether online casino or login to your existing account.
Navigate to the banking page and choose Tether.
You can easily identify Tether among the list of banking methods at the online casino because it is represented by the capital letter T.
Click on Tether to select it as your preferred deposit method.
Once you have done this, you simply have to follow the instructions that appear on your screen to successfully transfer funds from your Tether eWallet to your online casino gaming account.
Be careful while inputting the information required for the transaction to prevent it from getting reversed.
Once the USDT reach your account, visit the game lobby and choose a game to start wagering on.
Guide to Making a Withdrawal from Tether Online Casinos
Tether online casinos allow their customers to not only make deposits using Tether, but also withdraw their winnings in USDT. When your winnings reach your Tether wallet, you can withdraw them to your bank account in fiat currency. However, before you withdraw to your bank account in a fiat currency, find out about the minimum/maximum withdrawal limits and the fees associated.
Here are the steps to withdraw winnings from your Tether online casino account:
Login to your casino gaming account and navigate to the banking page.
Choose Tether as your preferred withdrawal method.
Follow the instructions that appear on your screen to successfully withdraw your winnings to your Tether eWallet.
Advantages of Playing at Tether Online Casinos
Australian players have many advantages of playing at Tether online casinos. We list out a few of them:
Fast Transactions Tether transactions are very fast, hardly taking a few minutes provided to successfully complete all the steps required to transfer USDT either between two eWallets or between eWallet and bank account.
An added advantage is that Tether transactions are affordable, making it the number one choice for people who want to transfer money in one currency to another. Crypto capital owners can easily obtain Tether and exchange it for other cryptocurrencies on various platforms.
Secure Transactions Tether’s Omni Platform and its ERC20 Tokens ensure that USDT can be transferred legally and securely. In addition, Tether is powered by the blockchain technology, which is already well-known for the layers of security it provides.
Stable Currency The fact that 1 USDT is equal in value to 1 USD is an added advantage of Tether. Its stability makes it an excellent mediator between the controversial volatile world of cryptocurrencies and the safe and stable world of established fiat currencies.
Easily Available Tether is now easily available. It started by making its presence felt at the regular exchanges and then quickly expanded to the largest e-commerce sector to incorporate cryptocurrencies—online gambling.
Highly Affordable As previously mentioned, Tether transactions are absolutely free of charge. However, nominal fees do apply when you use Tether to purchase or sell a fiat currency such as EUR or USD.
While deposits are charged 0.1%, withdrawals are charged 0.4%, 1%, or 3% depending on the withdrawal amount. It is worth noticing that the fees are much lower than those charged by banks and financial institutions for the same service. At the same time, the service is faster, more secure, and free of flaws.
Disadvantages of Tether Online Casinos
At the same time, using Tether at online casinos has a few disadvantages as well although the advantages far outweigh the disadvantages.
Here are a few cons of gambling with Tether:
Limited Transactions The minimum deposit/withdrawal limits applicable when you want to withdraw or deposit in fiat currencies can be a burden to users. These limits, however, do not apply to Tether, only to fiat currencies. The deposit/withdrawal limit ranges are USD100,000 - USD999,999, USD1,000,000 - USD10,000,000, and above.
Tether’s Fund Reserve In order to maintain the stability of Tether, the company has to maintain a reserve fund of USD to provide a back up for every Tether coin in circulation at any given point of time.
Tether’s official website updates the balance of its reserve fund every day, but many have pointed out that there is very little evidence to prove that Tether’s reserve fund actually exists.
Tether Controversies Tether and the company responsible for its existence have been at the center of controversies for many reasons.
The company hasn't provided audits to show adequate fund reserves to back up its coins.
It allegedly played a role in manipulating Bitcoin price.
Its relationship with Bitfinex, which withdrew completely form the US market, is shrouded in controversy.
Legalities The fact that 1 USDT is equal to 1 USD makes this cryptocurrency different from the other cryptocurrencies in the finance industry. But it is worth noting that it is not regulated by any bank or financial institutions. It is a decentralized digital currency that is not under the control of any government or jurisdiction.
Fast Transactions Tether transactions are very fast, hardly taking a few minutes provided to successfully complete all the steps required to transfer USDT either between two eWallets or between eWallet and bank account.
Limited Transactions The minimum deposit/withdrawal limits applicable when you want to withdraw or deposit in fiat currencies can be a burden to users. These limits, however, do not apply to Tether, only to fiat currencies. The deposit/withdrawal limit ranges are USD100,000 - USD999,999, USD1,000,000 - USD10,000,000, and above. 
