How to Buy Tether (USDT) Online & Offline

Sep 30, 2021
16:09
2 min reading

Choise.com team

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Cryptocurrencies are the recent financial craze, aren’t they? People all over the world are delighted with what coins like Bitcoin and Ethereum have to offer and eagerly buy, sell, and invest in crypto assets. Some tech-savvy individuals engage in crypto mining and prosper in this venture, too.

But there is one hitch about virtual currencies. They are highly volatile assets. It means their price can either go through the roof or crash all of sudden. If you are interested in investing in cryptocurrencies but want to fall victim to their inherent fluctuation, you may consider USDT aka Tether, an electronic stablecoin whose value is pegged to the price of the U.S. dollar, so it is never subject to extreme prices see-saw.

Every USDT token is redeemable for 1 US dollar. That way, by buying USDT, you can enjoy the stability of government-issued fiat with the efficiency of decentralized cryptocurrency. In this guide, we are uncovering different ways on how to buy USDT online and offline and what you can do with your cherished tokens after purchasing.

How to Buy USDT Online?

Step 1: Create an Account on a Cryptocurrency Exchange

The native token of the Tether platform, USDT firmly sits on the world’s TOP-5 cryptocurrencies list by market capitalization (according to coinmarketcap). Its 24-hour trading volume approaches 70 billion USD, which is twice as much as the current volume of Bitcoin (at the time of writing).

USDT is the most widely used cryptocurrency for daily transactions because it provides easy and smooth trading as well as sufficient liquidity for a diversity of cryptocurrency pairs. You can buy, sell, and swap USDT for other assets on many popular crypto marketplaces. However, USDT is not currently available on Coinbase.

You can find this stablecoin on Binance, Kraken, as well as many other smaller crypto brokers. Multi-functional crypto wallets such as Choise.com also allow you to swap your BTC or ETH values for Tether (USDT).

Cryptocurrency exchanges establish different fees, terms, and conditions for their users, and they also support different funding methods. Depending on your place of residence, certain exchange platforms may not be available to you. So it is important to do your own research and remember that the option of buying or investing in cryptocurrencies may not be available to everyone based on their jurisdictions.

There is no shortage of crypto exchanges over the Internet, but you need to pick a licensed and trusted one to avoid any headache afterward.

Once you have picked the right broker, go to this trading platform, complete registration, and create an account.

If you have never owned cryptocurrency before and are buying USDT for fiat for the first time, you will be asked to pass some KYC (Know Your Customer) and anti-money-laundering formalities before you can get down to crypto trading. This typically includes verifying your payment method and uploading some government-issued ID such as a photo of your passport or driving license.

Sometimes, the trading platform may require you to provide the paid utility bills to check your region of residence and ensure you do not come from a sanctioned area.

No matter what cryptocurrency exchange you choose, the platform will surely guide you throughout the registration and verification processes, prompting you for what you shell do next. Generally, the registration and KYC are quite fast procedures, but sometimes it may take up to several business days to verify you as a customer.

Once you have been successfully registered and verified, you can deposit some funds into your account to buy USDT.

Step 2. Fuel Your Balance

Different crypto exchanges support different payment mechanisms. Some platforms will allow you to buy Tether via a wire transfer or debit card, while other websites may even accept credit card purchases and transfers from e-wallets like Skrill or Neteller.

Depositing funds

The cheapest and quickest way to buy Tether is to send money from your bank account directly to the exchange of your choice. When you transact from your bank account, you generally do not pay any fees for such type of deposit, or the commission is pretty small.

Despite being a cheap and easy way to buy crypto, wire transfers often take several business days to settle, depending on your bank. However, once the fiat currency has been credited, you can immediately buy USDT or other tokens offered by the platform.

Buying with a debit or credit card

Bank card purchases are very swift to clear, but they also come with some drawbacks. Debit card or credit card payments often incur a sizable commission, which may be up to 20% of the purchase sum. So, if you want to buy USDT in a New York minute, get ready to splurge on possible deposit fees.

Using other cryptocurrencies

Every exchange allows users to buy, sell, or trade crypto assets using available cryptocurrencies as a funding method. Moreover, generally, exchanges do not charge fees for cryptocurrency deposits, which makes this funding option highly attractive for experienced crypto traders.

Crypto investors, who currently possess some tokens, can transfer their digital assets from a wallet or other crypto platform to the desired exchange to trade them for USDT. Certain websites may not require KYC for users who buy Tether for other cryptos, but it is up to you to research.

Never register on a platform unless you do your due diligence and make certain of its reliability. Every cryptocurrency exchange has its upsides and downsides you want to be aware of before you commit.

Step 3. Buy Tether

As already mentioned, the USDT rate is pegged to the value of the US dollar at a 1:1 ratio. This stablecoin is not just a speculative asset. It is used as a protective tool against the sometimes extreme volatility commonly seen among many digital assets. It is also a great trading pair for many other popular (and unpopular) cryptocurrencies. If you want to buy USDT, you can regard the entire process as buying US dollars against your national currency such as EUR, GBP, or RUB.

Step 4. Withdraw USDT to Your Wallet

Thanks to its relatively stable value, USDT is a favorite asset for daily trading on cryptocurrency exchanges. At the same time, many users regard Tether as a promising investment instrument and seek ways to securely store USDT for the long haul.

Since Tether relies on several different blockchains (Bitcoin Omni and Liquid Protocol, Ethereum, EOS, Tron, Algorand, SLP, and OMG blockchain technologies), there is no official wallet for USDT. That is why you can use virtually any hardware or software storage solution to hold your USDT capital.

The ideal storage variant for USDT is, surely, a hardware wallet that does not store your private keys. Still, such products are surprisingly expensive and do not allow you to manage your virtual capital to the fullest. They basically provide access to the distributed ledger, allowing you to initiate or accept transactions.

Once you have purchased your USDT tokens, it is recommended that you withdraw the assets from the exchange to your personal crypto wallet. Be sure to check that your chosen wallet supports USDT when downloading.

Choise.com is a choice you never can go wrong with. Coupling high-end security standards with incredibly generous functionality, the Choise.com wallet provides the ultimate solution for all your crypto needs.

Not only can you store USDT in your wallet and enjoy the industry-grade security of your holdings. You can also put your Tether funds in requisition to derive more benefits from your virtual capital. You can invest your USDT tokens and earn fat annual yields. Or, you can take crypto loans, using your USDT holdings as collateral.

Alternatively, you can trade USDT for any other coin and have peace of mind that you will get the most adequate rate for your deal. Unlike other wallets, Choise.com integrates with the world’s TOP-10 crypto exchanges including Binance, Coinbase, CEX.IO, and Kraken to let you compare rates before initiating a trade.

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How to Purchase USDT in the USA?

Since SEC is continuously tightening its grip on cryptocurrencies, buying Tether in America can be a hard quest to complete. Still, some good options do exist.

For instance, a centralized cryptocurrency exchange Kraken allows you to buy Tether with US dollars. Note that this broker does not accept debit card purchases, but only a bank transfer as a funding method.

Binance also accepts fiat-to-crypto purchases, providing a secure environment for USD-USDT trading. The hitch? This platform has many certain geographical restrictions and does not serve several states, including Alabama, Florida, Georgia, Louisiana, New York, and a few more.

How to Purchase USDT with A Credit Card?

Not many exchanges will allow you to buy USDT using your credit card. If you are outside the USA, you can buy Tether with your credit card on Binance.

If you reside in the US, the cryptocurrency platform Changelly says that they have a service that allows American citizens to buy USDT with a credit card. However, the service does not always work. The only way out is to buy BTC with a credit card at Changelly and then trade BTC for USDT.

How to Buy USDT with PayPal

It is unlikely that you can easily buy USDT using PayPal. Many crypto websites no longer support PayPal transactions because PayPal often suspends accounts and may reverse transactions after a few days or weeks.

Probably the only working way to buy USDT with PayPal is to buy BTC with PayPal on crypto marketplaces like Paxful or LocalBitcoins. Once you have received BTC, you can trade it for USDT using the Choise.com wallet.

How to Buy USDT with BTC and Other Coins?

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If you have already purchased some crypto and want to trade for Tether at an excellent rate, Choise.com is fully at your service. Here is how you can do so.

Download and launch the Choise.com app on your smart device. Or open the Choise.com website in your browser.
Log in to your account or create one (registration requires only your phone number).

Go to the ‘top up’ section at the top of the screen, choose ‘crypto wallets’ to receive crypto from another wallet.

How to buy usdt, where to buy tether

Pick the coin you would like to convert to USDT. Let’s assume it is Bitcoin.

where to buy usdt

Press the “Receive” button. The wallet will show you a destination address to move your BTC to from a third-party platform where you previously bought BTC. Once the transaction is confirmed and completed, and you finally have some Bitcoin in your Choise.com wallet, you need to go to the “Exchange” section.

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In the “Exchange” sector, you need to pick USDT and specify the amount of Bitcoin you would like to spend. Choise.com will provide rates from ten different crypto exchanges it is integrated with to let you pick the fairest deal.

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Preview the order, and if everything seems OK, press the “Exchange” button.

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The transaction will be initiated, and in a few seconds, USDT assets will land in your Choise.com wallet.

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Choise.com also provides an opportunity to purchase major coins like Bitcoin, Ethereum, or Litecoin for national money such as EUR and then swap these tokens for the desired asset, for instance, USDT – without leaving the wallet.

How to Buy USDT in China?

The Tether Company accepts US deposits from investors. Tether then issues new USDT tokens that investors can withdraw. The same works in reverse, where an investor can send Tether back to the company and receive US dollars in return. This is one of the easiest ways to buy Tether in China. Unfortunately, becoming a Tether investor comes at a hefty cost of $150 and requires the provision of KYC information before you can become a Tether investor and buy USDT.

How to Buy Tether (USDT) in the UK?

A centralized cryptocurrency exchange Kraken provides access to trading the GBP-USDT pair, allowing the UK residents to buy Tether for regular currency.

How to Buy Tether (USDT) Offline?

Since Tether (USDT) is pegged to the value of the US dollar and never suffers from price volatility like other market participants such as Bitcoin or Ethereum, it can effectively protect the funds of traders and investors interested in working with virtual tokens.

If buying Tether (USDT) over the Internet is not an option for you, do not worry. As Tether is one of the most widely used coins ever, you can buy it from a cryptocurrency ATM.

Services like https://coinatmradar.com/ display the locations of all crypto ATMs across the planet, and you will be surprised to discover that you can easily purchase USDT from such a machine even in the USA. There are dozens of crypto ATMs practically in every city in the USA, so you are likely to find a machine in your neighborhood.

Bitcoin ATMs are one of the easiest ways to buy and sell cryptos, and most machines offer an array of other coins too. Some apparatuses may ask you to complete a verification process, and others can even generate a crypto address for deposit. Anyway, if you have difficulty buying USDT online, a dedicated ATM allows you to obtain certain popular cryptos for cash with little to no effort.

What is Tether (USDT)?

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Emerged in 2014, Tether is a blockchain-powered platform that aims to streamline the use of fiat currencies in the virtual world. Tether is on a mission to disrupt the inefficient legacy financial system through a more refined approach to finances.

Tether provides customers with the ability to transact fiat currencies through the decentralized ledger without the inherent volatility and complexity that plaque regular digital currencies. As the first blockchain-enabled platform to facilitate the virtual use of conventional currencies, Tether has dramatically improved cross-border transactions across the blockchain.

Tether tokens exist in the form of electronic tokens built on the blockchain technologies of Bitcoin (Omni and Liquid Protocol), Ethereum, EOS, Tron, Algorand, SLP, and OMG. These transport protocols consist of open source software that interacts with decentralized ledgers to allow the issuance and redemption of the company’s cryptocurrency tokens called “Tether tokens”.

The Tether platform’s currencies are 100% backed by Tether company’s bank reserves. Tether tokens are redeemable and exchangeable. Conversion rate: 1 Tether USDT (USDT) token makes a full equivalent to 1 US dollar. Tether also supports stablecoins: the Chinese Yuan (CNHT), the Euro (EURT), as well as a stablecoin backed by 1 oz. of gold (XAUT).

The Security of Tether (USDT)

Tether is built on revolutionary and cryptographically secure open blockchain technologies and fully complies with stringent security rules and international government laws and regulations.

All Tether stablecoins are pegged 1:1 with their corresponding government-issued currency (e.g. 1 ₮ = 1 US Dollar) and are 100% backed by Tether reserves. As a completely transparent company, Tether publishes daily reports on its bank accounts and the available reserves.

What Can USDT Be Used for?

Tether offers users a great way to transfer values effectively without relying on any decentralized third parties or additional payment services. Users can trade the cryptocurrency as well as use it for international transactions in countries that control the flow of people’s capital.

Hence, one of the main driving forces behind the movement of supply and demand for Tether is the huge international payment markets.

For Tether’s price to be able to hover around the one-dollar level, the company needs effective issuance and redemption mechanisms to maintain the value of the token. To achieve this, the company charges a 0.1% commission every time the tokes are issued or redeemed. This means that the company is always ready to buy back the USDT at the price of $0.999 and sell USDT at the price of $1.001.This helps keep the value of Tether stablecoins within the 0.2% spread of one US dollar.

At this moment, you may think that USDT is not a very good investment for the long-term as its price is designed to always stay at the same level. Still, you can bring your USDT tokens into full-blown action.

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Conclusion

If you want to avoid volatility in the cryptocurrency space, you might want to know how to buy Tether aka USDT. Tether (USDT) is a crypto asset that reflects the value of the US dollar, that is why this coin is called stablecoin as its price is unlikely to ever make significant fluctuations. Each USDT can be redeemed for 1 US dollar. This means that you can get the stability of government money with the efficiency of virtual currencies.

Becoming an official USDT owner is very simple. Just create an account with a trusted crypto exchange, verify your identity, deposit some fiat via a bank transfer or a card, and you are all set!

Stablecoins like Tether represent a new class of crypto assets that find applications outside of the trading world, including in sectors such as traditional cross-border payments. While Tether seems a very serious and well-to-do company, you want to do your own research before you invest in USDT or any other coin. This article is not indicated to provide financial advice. You should understand that investing in assets like USDT has certain risks.