How To Buy Tether (USDT): Steps to Take in 2024

Reviewed by

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Mileva Stankovic, Ramsha Naushad

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Kraken
Exchange Rating
9.5
Available in
Visit Kraken
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Available Countries

+236

Available Cryptocurrencies

1
2
3
+790

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Intro

The popularity of cryptocurrencies has surged dramatically over the years, Amidst this vast terrain, Tether (USDT) has risen as a fundamental player.

Functioning as a stablecoin tied to the U.S. dollar, Tether provides a level of stability when contrasted with the fluctuation seen in other cryptocurrencies. If you're a newcomer to this world and are wondering about the process of acquiring Tether, there's no need to worry.

This comprehensive manual will guide you through each individual step. We will discuss the process of selecting a platform, the available payment methods, how to place an order, and ensuring secure storage. Additionally, we’ll explore alternative purchasing approaches to enhance flexibility.

Best Sites

1.

Kraken

Exchange Rating 9.5
Available in
Available in United States
9.5
Description: 

Kraken is one of the oldest exchanges out there, having been around since 2011. They offer many trading interfaces and are extremely trustworthy.

General Information

Year founded: 
2011
Coins Available: 
Tether
Ethereum
Bitcoin
Polkadot
Chainlink
Cardano
Bitcoin Cash
Litecoin
Uniswap
USD Coin
XRP
Aave
Stellar
Tezos
Curve DAO Token
Algorand
Monero
Synthetix
Dai
Filecoin
Compound
EOS
The Graph
Cosmos
Keep Network
ICON
yearn.finance
TRON
Qtum
Dash
Basic Attention Token
Zcash
Kusama
OMG Network
Waves
Nano
Dogecoin
Enzyme
Decentraland
Kava.io
Ethereum Classic
Orchid
Kyber Network
Storj
Siacoin
Lisk
Aragon
PAX Gold
Gnosis
Balancer
tBTC
Augur

Anonymity

Kraken is a registered US exchange, so they must follow strict KYC & AML laws. These laws prohibit anonymous accounts from being generated.

Reputation

Kraken has one of the best reputations in the crypto industry. They are the only crypto company in the world to secure an SPDI banking license. 

Visit
6.

Coinbase

Exchange Rating 7.7
Available in
Available in United States
7.7
Description: 

Coinbase, a major player since its inception in 2012, is a user-friendly cryptocurrency exchange offering a secure platform for buying, selling, and managing a variety of digital assets.

General Information

Anonymity

Committed to regulatory compliance, Coinbase adheres to strict KYC and AML protocols, necessitating user identity verification and preventing the establishment of anonymous accounts.

Reputation

With a solid reputation, Coinbase is widely recognized for its reliability, ease of use, and regulatory adherence. As a publicly traded company, it holds a position of trust in the cryptocurrency market.

Pros and Cons

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8.

Binance

Exchange Rating 9.9
Not Available in
Not Available in United States
9.9
Description: 

Binance, established in 2017, stands as a leading global cryptocurrency exchange, providing a diverse range of trading pairs and innovative features.

General Information

Anonymity

As a major international exchange, Binance adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.

Reputation

Binance has a strong reputation in the cryptocurrency domain, recognized for its reliability, liquidity, and constant innovation. It is one of the largest and most trusted crypto exchange.

Pros and Cons

Not Available in United States
Disclaimer: The information provided on this website is for informational purposes only and should not be considered as financial, investment, or legal advice. Cryptocurrency investments are volatile and high-risk in nature. Consult with a qualified financial advisor and/or tax professional before making any investment decisions. We are not responsible for any loss incurred due to the use of information on this website. Do your own research and exercise caution. Don’t invest unless you’re prepared to lose all the money you invest.
 

Why Trust Us

Choose CryptoManiaks for a dependable Tether (USDT) buying experience. Our thorough research on diverse platforms ensures accurate and current insights, empowering you to make informed decisions. As active crypto users, we offer practical insights, providing transparent and unbiased information for both beginners and seasoned investors. 

Count on CryptoManiaks to prioritize your needs, guiding you with clarity and confidence through the process of purchasing Tether (USDT).
 

Key Takeaways

 

  • Opt for a reliable exchange like Binance or Kraken, emphasizing security and user-friendly features
  • Choose between bank transfers, credit cards, debit cards, or using other cryptocurrencies for acquiring Tether
  • Compare withdrawal and deposit fees across exchanges, considering variations in fee structures
  • Locate and purchase Tether on the chosen exchange using market orders for instant transactions
  • Enhance security by transferring Tether to a personal wallet, choosing between online (hot) or offline (cold) options
  • Consider alternative methods like peer-to-peer transactions or using gift cards to buy Tether

 

Pros and Cons of Buying Tether (USDt)

Here are pros and cons of buying USDt:
 

Pros and Cons of Buying Tether
Pros Cons
Tether is a stablecoin pegged to the value of traditional fiat currencies, providing stability in a volatile crypto market Tether's stability is dependent on the issuer's ability to maintain proper reserves
It is widely accepted across various cryptocurrency exchanges, offering liquidity and ease of trading Regulatory scrutiny and concerns about Tether's reserves have led to legal challenges
Tether transactions often have lower fees compared to other cryptocurrencies, making it cost-effective for transfers The centralized nature of Tether contradicts the decentralized ethos of many other cryptocurrencies
Tether can serve as a bridge between traditional finance and the crypto space due to its stable value Tether's value can be influenced by market sentiment and external factors
It provides a safe haven for traders during periods of high crypto market volatility Limited transparency regarding Tether's reserves has led to skepticism and calls for increased accountability
Tether is a convenient way for crypto traders to move funds between different exchanges  

 

What is Tether

Tether, often abbreviated as USDT, is a special kind of cryptocurrency. Unlike some cryptocurrencies that can change a lot in value quickly, Tether tries to keep to the same value. It's connected to regular money like the US Dollar (USD), so 1 Tether is supposed to be worth about 1 USD. This steadiness can be helpful in a world of changing cryptocurrency prices.

Tether works on different computer networks, like Ethereum and Tron, which help it move around. The important thing about Tether is that it's backed by real money. This makes it more trustworthy, in the sense that Tether will tend to be worth around the same value as regular money. Because of this, many people use Tether to trade and buy other cryptocurrencies in a more stable way.

Even though Tether can be useful, there have been doubts about whether the company behind it really has the back-up it needs in the form of real money. Some people worry that Tether might not be as reliable as it seems. Still, Tether keeps being used by a lot of people, especially when they want a cryptocurrency that doesn't change too much in value.


 

Selecting a Platform: Basic Rules

The first step in your journey to purchase Tether involves choosing the appropriate platform—a crypto exchange where your transaction will unfold.

A multitude of cryptocurrency exchanges are at your disposal, each with distinctive qualities. Examples include Binance, Kraken, Coinbase, Bitfinex, and several others.

Binance is a globally acclaimed platform, characterized by its substantial trading volume and a comprehensive array of cryptocurrencies. It caters to both seasoned traders with advanced functionalities and newcomers with a user-friendly interface. Its reputation is also grounded in robust security measures.

Kraken, too, commands respect for its security-oriented approach. It also presents an assortment of offerings, including futures and margin trading, making it suitable for investors at varying levels of experience. The platform is also committed to providing comprehensive guides to aid users in understanding the trading process.

Conversely, Coinbase earns high marks for its user-intuitive interface, which is why beginners in cryptocurrency tend to prefer it. Its extensive collection of educational resources makes trading dynamics much easier to understand for users. Notably, Coinbase also offers insurance coverage, increasing its security infrastructure.
 

 

Comparing fees

 
Exchange Withdrawal Fees Deposit Fees
Binance $10.00
10 USDT
Free
Kraken $8.0029784
8USDT
Free
Huobi Global $6.05
6.054001 USDT
Free
OKCoin - Free
Kriptomat 0 Free
Bitfinex 2.0385 USDT Free
Binance.US - Free
Crypto.com $0.8002727
0.8USDT
Free
Coinbase 4 USDT Free
OKEx 20.0 USDT Free

Fee comparison for various exchanges
 

Selecting a Method for Crypto Purchase

Once your platform is chosen, the subsequent phase entails selecting the mode through which you'll acquire Tether. The majority of crypto exchanges proffer an array of payment methods to cater to different user preferences.

Typically, you can get hold of  USDT using fiat currency through bank transfers, debit cards, or credit cards. Alternatively, the option exists to use other cryptocurrencies.

Bank transfers, renowned for their broad acceptance and nominal fees, are the usual choice. Nonetheless, their processing can be comparatively sluggish, taking several days for funds to clear.

Conversely, credit and debit cards offer a swifter and more convenient avenue. Nevertheless, they entail higher transaction fees when used with bank transfers.

If you possess cryptocurrencies like Bitcoin or Ethereum, numerous exchanges facilitate their exchange for stablecoins like Tether.

This avenue is convenient, particularly for those seeking portfolio diversification.
 
 

Setting Up Your Payment Method

Once you've determined the method through which you'll acquire Tether, the subsequent task is to establish your payment method. For bank transfers, you'll be required to furnish the exchange with your banking details.

This typically encompasses your bank account number, routing number, and any other information needed. Keep in mind that the verification of this information may take a few days.

For credit or debit card transactions, you'll need to supply your card number, expiration date, and CVV.

In the case of credit or debit cards, most exchanges require card confirmation, often by conducting a small transaction.

If you're opting for alternative cryptocurrencies, you'll need to deposit them into your exchange wallet.

This procedure typically entails generating a wallet address specific to the cryptocurrency in question. Once generated, you can proceed to transfer funds from your personal crypto wallet to the exchange wallet.
 
 

Placing an Order

Once your payment method is established and your account is funded, you're poised to purchase Tether. This stage involves accessing the exchange platform and searching for Tether or USDT.

As soon as you’ve located Tether, the next step is to decide on the amount you wish to purchase. 
 
Indicate the amount of your chosen payment method you intend to expend.

Most exchanges provide two primary types of orders:

  1. Market orders, which enable you to acquire Tether at its prevailing cryptocurrency market price
  2. Limit orders, granting you the flexibility to stipulate the price at which you're prepared to purchase Tether

With limit orders, you have the capability to set a price lower than the current market value. The exchange will carry out your order once the market price aligns with your designated price.
 
 

Securing Your Tether Holdings

Once you've completed the purchase of your Tether, safeguarding your asset becomes paramount.

While exchanges do offer online wallets, these can be vulnerable to hacking. As a precaution, it's advisable to transfer your funds to a personal cryptocurrency wallet.

Two primary categories of wallets exist:
 

  • Hot wallets (online)
  • Cold wallets (offline)

Hot wallets remain connected to the internet and are suitable for frequent trading. However, they are more exposed to online security threats.

Examples of hot wallets include software wallets installed on your computer or mobile device.

On the other hand, cold wallets operate entirely offline, affording heightened protection against online vulnerabilities.

This category includes hardware wallets such as Trezor or Ledger—physical devices designed to securely store your cryptocurrencies.

Paper wallets represent another manifestation of cold storage, involving the printing of your crypto private keys onto physical paper.
 
 

Alternative Tether Acquisition Methods

Beyond the conventional exchange route, alternative avenues for acquiring Tether are available.
 

Peer-to-peer (P2P) transactions

P2P platforms allow direct connections between buyers and sellers, enabling negotiation of prices and payment modalities.

This approach can be advantageous due to expanded payment options and potentially lower fees. However, it’s crucial to be vigilant, as this helps you avoid falling victim to scams.
 

Gift cards

Certain services permit the purchase of Tether using gift cards. The process involves procuring a gift card with a predetermined value and subsequently redeeming it for Tether.

It's worth noting that this method often carries high fees.  You’re also running the risk of fraud unless you use a reputable platform.
 
 

How to Buy Tether Easily

After creating an account, you'll need money to buy USDT. You can put in your local money from a bank or credit card, or move cryptocurrency from another place. Here are good ways to get USDT:

  • Bank Account: Depositing money from your local bank is often free, but make sure to check with the exchange – you can find this info in our table by clicking 'view details'
  • Credit or Debit Card: Linking a card to your account is easy to add money, but sometimes there's an extra cost. The good part is you can buy USDT right away or set it up to buy later
  • Cryptocurrency: You can usually get USDT by trading it for another cryptocurrency like Bitcoin. Not all exchanges do this the same way, so search for USDT on the spot market to know which cryptocurrencies you can trade for it

 

What Do I Need to Buy Tether?

To come up with an account on a cryptocurrency exchange, you'll need an email. Some may also ask for your phone number and a picture ID, so it's good to have those ready.

Many cryptocurrency exchanges will want to check who you are before you can put in money and start trading Tether.

This is called Know Your Customer (KYC), and it usually needs a photo ID and a webcam or smartphone. You might also need to show where you live by sending a picture of a recent bank paper or bill.

A few exchanges let you put in and trade cryptocurrencies without KYC, but you can't move regular money from your bank without it. So if you're thinking about getting USDT with your local money, you need to perform KYC.

Once you've proved who you are, it's smart to use 2-factor authentication (2FA) before you put in any money. This will make your account more secure and help your money stay safe.
  
 

Final Thoughts on Purchasing Tether

Congratulations on making it this far! We've journeyed together through the steps of buying Tether.

We've covered everything from picking the right platform and choosing your payment method to keeping your Tether safe in a wallet. It's not as complicated as it might have seemed initially, is it?

But does the learning stop here? Definitely not! The world of cryptocurrencies is always changing, offering something new to explore.

You've learned how to buy Tether on an exchange, but have you thought about other methods? Peer-to-peer transactions and using gift cards are options worth considering. They give you more flexibility and control over your transactions.

Remember, owning Tether comes with responsibility. It's crucial to protect your digital assets. Also, staying updated on the latest cryptocurrency trends is important.

Now you have the knowledge you need to buy Tether.

Nevertheless, bear in mind this crucial point: owning Tether comes with responsibility. Safeguarding your digital assets remains imperative. Additionally, staying abreast of the latest developments in the cryptocurrency sphere is of paramount importance.

You are now armed with the knowledge of how to acquire Tether.

Frequently Asked Questions

How can I find the best places to buy Tether?

Cryptocurrency exchanges offer similar services, but they have some differences, like fees, the variety of cryptocurrencies they offer, and how you can pay. You can check out our table to compare popular cryptocurrency exchanges and pick the one that suits you.

Other things you might want to think about are how helpful their customer support is, what users say about them, how easy they are to use, and if they follow local rules. You can find this info by clicking on the exchange name in the table, which will take you to its review page.

What's the easiest way to get Tether?

The simplest way to get USDT is by using an 'instant buy' order to buy it at a set price. But not every crypto exchange has this option.

You can also make a trade on the spot market where you decide the price – this is how most people buy cryptocurrency. The instant buy way is easy, but usually costs more than using the spot market.

What are the best Tether wallets to store your USDT?

You have two options where to keep your USDT:

You can leave it on the exchange where you bought it. You can also move it to your own wallet

Many people prefer their own wallets for full control over their money, and to use it with other things like DeFi services.

Hardware wallets are seen as the safest kind of wallet. They use a special device to make your USDT super secure. Check out some of our top hardware wallet choices to keep your USDT safe.

Is it safe to buy Tether online?

Yes, buying Tether online is generally safe. Use reputable exchanges with strong security measures, check for past security incidents, and verify the website's authenticity. Always prioritize security when dealing with cryptocurrencies.

What factors should I consider before buying Tether?

Consider understanding stablecoins, researching the organization behind Tether for credibility, transparency, and financial backing. Evaluate liquidity, trading volume, and overall market stability on different exchanges before making a purchase.

Written by

Mileva Stankovic

When Mileva invested in Bitcoin at the end of 2017, she never believed she’d end up becoming so focused on crypto. Today, she's investing in various coins and playing Texas Hold 'em with passion. 

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