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Use this free tax calculator to instantly find your net profit on crypto transactions.
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Tether is a stablecoin that is hosted on blockchains such as Ethereum and Bitcoin. Its value proposition is that one USDT should always be redeemable for $1 USD.
Tether is issued by a Hong Kong company called Tether Limited, which is controlled by the Bitfinex exchange.
Some people would not consider Tether to be a safe investment. While 1 USDT is supposed to be redeemable for $1 USD, and Tether is supposed to keep enough reserves to redeem every token to the last dollar, the company has been fined several times for failing to do just that.
This is no way an indication that the company is about to fail, but it taken into consideration that they have not passed all tests.
Use the Tether (USDT) profit calculator above to determine your profit on Tether (USDT) investments. Simple enter your purchase date, amount, income (for tax), sell date and amount, and this simple calculator will return your gross gains or losses, net gains or losses, whether CGT applies, and more.