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- 1. How & where to buy Tether (USDT) online
- 2. How to buy Tether instantly in 3 simple steps
- 3. Where to buy USDT easily
- 4. Best exchanges to buy Tether (USDT), reviewed
- 5. How to trade USDT
- 6. What is the best way to pay for Tether (USDT)?
- 7. How do I store Tether (USDT)?
- 8. Is Tether (USDT) a good investment?
- 9. Is now a good time to buy Tether?
- 10. FAQs
How & where to buy Tether (USDT) online
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Tether tokens are available on a cryptocurrency exchange, which functions similar to a stock trading platform. It takes just a few minutes to buy Tether this way. Follow our quick step guide below.
How to buy Tether instantly in 3 simple stepsCopy link to section
To buy Tether you need a smartphone or a computer and an internet connection. It takes 10-15 minutes the first time and you should have some photo ID to hand. Here’s how to do it.
Step 1. Sign up to NexoCopy link to section
Step 2. Make a depositCopy link to section
Add funds via a card payment, bank transfer or an alternative payment method. You can start with as little as £10.
Step 3. Buy Tether tokenCopy link to section
Type USDT into the search box then click ‘trade’. Enter how much money you want to spend and hit ‘trade now’.
Now you own Tether tokens! It’s as simple as that.
Where to buy USDT easilyCopy link to section
The overall best exchange to buy Tether for beginners is Nexo
Here are the top five places to buy Tether, ranked according to their simplicity for beginners, fees, customer reviews, and safety ratings.
Read more about how we rate, rank and review platforms.
Best exchanges to buy Tether (USDT), reviewedCopy link to section
1. Nexo. Best for earning interest & rewards
Pros & Cons
We love Nexo because you earn rewards every time you make a purchase. You can trade 60+ cryptocurrencies and earn rewards of up to 0.5% on every transaction, then store your coins on Nexo to build your wealth through passive interest payments.
You can trade on the go from a mobile app and Nexo is designed for simplicity. Every trade is locked in at the rate you see on your screen, so you won’t suffer from price slippage, and it has the added bonus that any crypto held in your account automatically starts to earn interest.
The fees: Nexo charges a 2% spread on buy and sell transactions. There are no fees for storing coins in your Nexo account. Depending on your loyalty tier, you receive a fixed number of free withdrawals, and any additional withdrawals will be charged a network fee.
2. KuCoin. Best social trading altcoin exchange
Pros & Cons
We love KuCoin because it;s a great place for beginners to trade more than 700 altcoins. KuCoin is a social trading platform with 20+ million investors worldwide in 200+ countries.
KuCoin’s beginner zone offers up rewards up to $500 for new users. The rest of the platform has plenty of features for the crypto enthusiast: a staking service to earn money on your stored crypto, an NFT marketplace, and margin trading features to buy leveraged tokens.
The fees: Trading fees are charged on a sliding scale. Fees are 0.1% on trading volumes below 50 BTC in a 30 day period. Discounts are available if you pay fees in KCS or store more than 1000 KCS in your account.
How to trade USDTCopy link to section
You can trade USDT on a cryptocurrency exchange using a few simple steps. Here’s a quick example that clearly lays out how USDT crypto trading works:
- Monitor the price: Let’s say the price of USDT/USDT is $1. You read the price charts and decide that now is a good time to start purchasing USDT.
- Open a trade: You trade one USDT for one USDT ($1 for 1 USDT).
- Continue to monitor the price: The next day, one USDT token is now worth $2, a 100% increase.
- Close your trade: You trade your USDT token back to USDT for $2.
In this example, you buy and sell Tether, doubling your money (trading). While the steps are simple, executing them in a profitable way is not so easy. You need to spend many hours learning to trade, reading charts, patterns, and understanding markets and margin trading; which you can do right here on Invezz.com.
What is the best way to pay for Tether (USDT)?Copy link to section
The simplest way to buy Tether cryptocurrency is with your bank card. However, there are plenty of other options as well. Here are some of the top ways to pay for USDT.
- Buy Tether with a credit card or debit card. Card payments are convenient and instantaneous but you may have to pay a higher fee to make a deposit this way. Binance charges 1.8% for a card deposit and some platforms charge as much as 4%.
- Buy Tether with bank transfer. A bank transfer is usually the cheapest way to buy crypto. Crypto platforms like Crypto.com and Coinbase do not charge for bank transfer deposits, while Binance only charges a £1 fee, and these transactions are more or less instant as they run through the Faster Payments System (FPS).
- Buy Tether with PayPal. Some crypto brokers accept deposits via PayPal. eToro is the best option because it doesn’t charge a fee for PayPal deposits, whereas the charge can be as high as 5% or more with other platforms.
- Alternative payment methods. Crypto brokers often let you pay with other providers or money transfer services, like Neteller, Venmo, or Payoneer. The options vary by broker, though, so check what’s accepted before you sign up.
How do I store Tether (USDT)?Copy link to section
Most people keep their crypto on the exchange they used to buy it. If you only plan to hold onto it for a little while then that’s a perfectly acceptable option. If you want to hold it for years or you own a lot of Tether then you should move it to a crypto wallet.
A crypto exchange is similar to a bank account, in that it means trusting a company to protect your funds for you. A wallet is like your personal wallet, or a safe, where you take responsibility for it yourself. Two of the best Tether wallets to use are MetaMask and the Ledger Nano S.
Is Tether (USDT) a good investment?Copy link to section
Whether it’s good for you depends on your goals and the fundamentals of the project. Here are some key features of Tether and its token to help you decide whether to invest in USDT.
- Tether is one of the largest cryptocurrencies. Tether is the largest stablecoin in the world and one of the largest cryptocurrencies overall. Just behind Bitcoin and Ethereum in terms of market capitalisation, Tether regularly has a daily trading volume worth tens of billions of dollars. Its high activity and large market cap make it one of the safest coins in the crypto market.
- You can earn interest by lending USDT. As Tether is so widely traded, it demands a lot of liquidity. If you own USDT coins, you can lend them to liquidity pools and earn yield rewards. This is similar to staking on other cryptocurrencies; however, one benefit USDT has is its peg to the USD. This makes it much less volatile and interest yields are more consistent.
- Tether works on multiple blockchains. Tether was originally built on top of the Bitcoin blockchain but has been updated to work on Ethereum, EOS, Tron, Algorand, and OMG blockchains. This makes it more versatile and increases how it can be used.
- It can be used to purchase other cryptocurrencies and make payments. You can buy USDT to exchange for almost all other crypto coins. Transferring fiat to an exchange platform can take a long time and to speed up the process, you can simply buy Tether and keep it in your wallet or exchange it. You can transfer USDT between Tether wallets without paying any transaction fees.
- Several controversies surround Tether. The company behind Tether doesn’t have the best reputation. There have been allegations that USDT was used to manipulate the price of Bitcoin. Tether has also been accused of lying about its reserves and covering up losses.
Use this quick summary of pros and cons to compare Tether with other similar projects.
ProsCopy link to section
- Tether is the largest stablecoin in the world
- It’s one of the biggest cryptos by market cap behind Bitcoin and Ethereum
- USDT can be used to earn high APY
- Tether can be used with almost every wallet and exchange
Ultimately, many different factors play into the answer. Cryptocurrency is inherently volatile but you can reduce the risks by investing in quality projects that provide value to the community.
How has Tether (USDT) performed this year?Copy link to section
The current Tether price today is $0.9982, which is 0.63% below its all time high of $1.004, which it reached on January 2022. USDT is down 0.63% this year, with a 52 week high of $1.004 and a 52 week low of $0.949.
Is now a good time to buy Tether?Copy link to section
The answer depends on the current price and your own investment goals. Put simply, buying Tether, selling Tether, and trading USDT are all the exact same process. It’s really just your personal investing intentions that defines whether now is a good time to invest or not.
- If you’re a trader: as a cryptocurrency trader, your goal is to make money trading regularly. What do we mean by regularly? Hourly, daily, weekly. Traders buy and sell a coin quickly to secure their profit (or to avoid a loss). They don’t #hodl that coin long term in the hopes of larger profits. In this sense, any time is a good time to buy Tether.
- As a long-term investor: a long term investor is not concerned if the price is up or down 10% on any given day. Rather, they care that the price of the native token is overall up months or years later, when they’re ready to sell that investment. So if you’re a firm believer in the foundations of USDT, then a good time to purchase Tether is on any major dip.
In our experience, most newcomers to the crypto market sit between the two. You don’t want to wait several years for a return, but buying Tether and selling it the next day probably isn’t why you’re here either.
Regardless, closely following USDT price news & analysis will help you decide when to pull the trigger:
Tether freezes 32 addresses linked to terrorism in Israel and Ukraine
Hong Kong to name all crypto license applicants following JPEX scandal
Total supply of stablecoins at two-year low amid capital exodus
FAQsCopy link to section
The highest rated exchange to buy Tether is eToro. However, you can purchase USDT tokens on any of the platforms listed above in our comparison table. Any platform that lets you buy and sell the leading coins by market cap will offer Tether.
To create an account on any regulated cryptocurrency exchange, you will need:
- A mobile or laptop device
- An internet connection
- Email address and/or phone number
- Photo ID to verify the account
- A method to deposit & withdraw funds, like bank card or PayPal
Yes, you can buy Tether on Coinbase.
Yes, you can buy Tether on Binance.
Yes, you can buy Tether on eToro.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >