Tether, more popularly known as USDT, is an ERC-20 stablecoin that is pegged 1:1 to the value of the US dollar. Each USDT created is backed by various assets in the Tether platform’s reserve account - which include both traditional currency (and cash equivalents) and receivables from loans made by Tether to third parties.
Similar to USDC, due to its nature of having established reserves, dollar stablecoins like USDT are the closest equivalent to a USD currency in the Ethereum blockchain. As long as you are ID and Selfie verified, you may start trading with USDT!
For more information on USDT and its dollar reserves, you may check this link.
Note:
Coins.ph supports USDT transfers through selected networks you may refer to our article on Supported Tokens and Networks on Coins.ph. Sending funds through unsupported networks will result in a permanent loss.