How to buy USD Tether

How to buy USD Tether

Digital currencies are everywhere. More and more users around the globe are adopting and integrating their businesses with digital technologies, including their payment methods.

At the same time, cryptocurrencies have promised themselves to be digital coins and currency. However, their volatility is a significant reason they are not widely adopted.

How to Buy Bitcoin: Consider the Be...
How to Buy Bitcoin: Consider the Best Options

In order to combat this, stablecoins were introduced, which are pegged with a real-life asset allowing their prices to remain stable. They are not just stable but also safer than cryptocurrencies like Bitcoin. Stablecoins are mainly supported by a fiat such as the US Dollar, Euro, etc., allowing them to have a 1-to-1 value with the currency that they are pegged with.

Stablecoins are designed for purchasing goods and services. It can be done with the following steps.

Making a wallet account

Like all cryptocurrencies, you need a safe place to store your stablecoins. This can only be done when you sign up and make an account. There are three leading centralized exchanges for USD Tether that are popular among users: Coinbase, Binance, and Kraken.

We have an excellent guide on making an account on Binance, Coinbase as well as Kraken. Uphold is another option to create an account and store/or trade your USD Tether coins.

It is essential to verify your account on whatever platform you use for making a wallet. Usually, a verification process is led by exchanges to ensure you are who you say you are. Once that’s done, you can move ahead. Failure to do so will result in your wallet not giving access to all of its features.

Making a purchase

To make a purchase of USD Tether, you need to deposit some form of fiat currency in the exchanges of your choice. The most straightforward manner in which it can be done is through your Visa or Mastercard debit card. Buying through fiat currency is one of the most common methods of purchasing a cryptocurrency directly.

However, Binance also provides a P2P option, also known as the peer-to-peer option, in which a user can buy from a verified trader through the means of local cash or a local bank account number. The P2P option is a secondary choice, especially for individuals who cannot connect their Visa or Mastercard. You can learn more with our guide on how to use Binance P2P.

Buying USD Tether or exchanging it for USD Tether

Once you’ve been able to inject cash into the exchange of your choice, you can then purchase USD Tether, depending upon how much you wish to buy. Users who could not buy USD Tether directly through their Visa or Mastercard can also convert their BTC, ETH, or any other popular cryptocurrency to USD Tether. Many exchanges like Binance and Kraken provide this option. This is available on Binance as USDT/BTC or ETH/USDT.

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