Last update: Jun 6, 2022

How to Buy TetherUS (USDT)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy TetherUS. Depending on your country, you’ll have various crypto trading platforms to choose from.

In this guide, we not only cover the top 3 global cryptocurrency trading platforms, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Tetherus

How to Buy TetherUS – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a trading platform isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have TetherUS of course.

2. Sign up with the crypto exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger exchanges.

4. Buy TetherUS

Now that you have what you need to buy TetherUS, head over to the market or buy section of the crypto trading platform and buy some USDT.

If the crypto exchange doesn’t have any TetherUS on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has TetherUS first), and trade your Ethereum for TetherUS.

Where to Buy TetherUS (USDT)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell TetherUS

  1. Sign into the cryptocurrency exchange where you bought TetherUS.
  2. Move your TetherUS to the right place on the cryptocurrency exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell TetherUS.

 

Crypto trading

How to Buy TetherUS (USDT) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy TetherUS in Australia, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy TetherUS if it’s available. If the exchange doesn’t have TetherUS. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has TetherUS), and trade your ETH for TetherUS.

It’s also possible to check out our comparison of the sites for bitcoin trading in Australia for those looking to learn more about the exchanges we would recommend.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy TetherUS (USDT) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy TetherUS in Canada, the process remains the same:

  1. Find a crypto trading platform below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy TetherUS if it’s available. If the exchange doesn’t have TetherUS. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has TetherUS), and trade your ETH for TetherUS.

Or, if you’d like to know more about the exchanges we prefer, read our list of the cryptocurrency trading platforms in Canada.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy TetherUS (USDT) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy TetherUS in the UK, the process remains the same:

  1. Find a crypto exchange below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy TetherUS if it’s available. If the exchange doesn’t have TetherUS. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has TetherUS), and trade your ETH for TetherUS.

Also, take a look at our analysis of the safest crypto exchanges in the UK for those interested in learning more about which exchanges we prefer.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying TetherUS? USDT Rundown

USDT (stable-value cryptocurrency), is a stablecoin that is linked to the U.S. Dollar. It was issued by Tether, a Hong Kong-based company. To ensure that the token is pegged to the USD, it is necessary to maintain a balance of fiduciary deposits, commercial paper, cash, reserve repo and treasury bills in reserve equal to the total USDT in circulation.

Originally launched as Realcoin in July 2014, this second-layer cryptocurrency token was built on top Bitcoin's blockchain using the Omni platform. It was later renamed to USTether and finally to USDT. USDT, in addition to Bitcoin, was later updated to support the EOS, Tron and OMG blockchains.

USDT's stated purpose is to combine the unrestricted nature cryptocurrencies (which can be sent between users with no trusted third-party intermediary) with the stability of the US dollar.

Inflation hedges have become increasingly popular with stablecoins. Instead of keeping fiat currency in savings accounts averaging 0.066%, users can borrow their stablecoins to earn yields as high as 20% to 3%. Keep in mind, however, that there are regulatory and platform risks as well as other pitfalls.

Tether guarantees USDT's value to be equal to the U.S. Dollar. This is USDT's distinctive feature. Tether claims that every time it issues USDT tokens, the same amount of USD is allocated to its reserves. This ensures that USDT can be fully backed by cash or cash equivalents.

Due to the notoriously volatile nature of crypto markets, cryptocurrencies can fluctuate by as much as 10-20% in a single day. This makes them unstable as a store-of-value. USDT is, however, protected from such fluctuations.

USDT is a safe haven to crypto investors. During periods of high volatility, investors can store their portfolios in Tether and not have to cash out completely into USD. USDT also makes it easy to transact U.S. dollars between countries, regions, and continents using blockchain. This is without the need for a slow or expensive intermediary like a bank, financial services provider, or any other financial institution.

There have been many controversies over the years about the validity of Tether’s claims regarding their USD reserves. This has sometimes disrupted USDT's prices, which dropped as low as $0.88 once in its history. Many are concerned about the fact that Tether has never had its reserves fully audited and verified by an independent third party.

What is the FUD about Tether? Tether has been the subject of much FUD because of its poor balance sheet and inability to conduct a public audit. Tether has been repeatedly fined for misleading statements about the financial state of its books. Tether's first breakdown of balances was released. Tether was also scrutinized by regulators for its claim that all stablecoins are fully backed up by dollars reserves.

Tether is still unsure of the validity of the report, which purportedly cleared it from all wrongdoing allegations. Tether has been involved in numerous disputes over its business practices. However, most crypto experts agree that Tether is too big to fail.

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author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.