How to Buy Tether: Best Ways to Buy USDT in 2022
By Cody V. 7 min read
Where to buy Tether
Below are the popular crypto exchanges based on user experience,security,fee structure and supported coin, that you can use to purchase Tether (USDT) in 2022.
Before moving forward i want to make it clear that the ranking of these exchanges are in no particular order. With that in mind - Let’s explore these crypto platforms one by one so that you can select the best cryptocurrency exchange to buying your Tether.
1. Binance
Binance is well-known for its cryptocurrency-to-cryptocurrency trading services. Binance came onto the scene during the 2017 crypto craze and has since risen to become the world's leading cryptocurrency exchange.
By trading volume, Binance is the world's largest online cryptocurrency exchange. The exchange is also one of the most rapidly growing venues in the cryptocurrency market today. You can easily buy and sell Tether (USDT) using our step by step guide.
The exchange offers investors one of the most diverse selections of cryptos accessible on the market today. The currencies and tokens on sale range from the markets largest by market cap to some smaller and less well-known coins and tokens.
Getting Started with Binance
Users must first create an account in order to utilize the exchange. The procedure is quite quick and straightforward, and you do not need to verify your account for level 1, which has a daily withdrawal limit of 2BTC.
For level 2, which enables up to 100BTC every day, you must upload a picture ID and wait for approval. There are still greater restrictions, but you must contact them personally to arrange for them.
Follow the steps below to open a Binance account:
Step 1: Visit the Binance Website
Step 2: Click on the “Register” option in the upper right-hand corner and complete the relevant information. Binance will validate your account details throughout the registration process, which may take a few minutes.
Step 3: Enable 2-Factor Authentication.
Step 4: Select and Link you payment Methods.
Step 5: Deposit and Start trading.
How to buy Tether on Binance
Binance has a rich collection of tools and dashboards that might be overwhelming. Its Buy Crypto page makes it easy to cut through the confusion and conduct straightforward transactions. It has a simple interface where you can buy, sell, or convert cryptocurrency.
1. Login to your Binance account and on the homepage click on the “Buy Crypto “Button.
2. You can purchase Tether (USDT) using a variety of fiat currencies. Enter the amount of fiat money you wish to spend, and the system will calculate the amount of Tether you can acquire.
3. Select the payment method and fill the required information than Continue.
4. Please double-check the payment information and costs, and complete your purchase within 1 minute, otherwise the amount of Tether you may get will be adjusted depending on the current market price.
5. You'll be taken to your bank's OTP Transaction Page. To validate the payment, follow the on-screen instructions. Following that, you will be able to see the acquired USDT in your Binance Spot Wallet immediately.
2. OKX
OKX crypto exchange, founded in 2017 and headquartered in the Seychelles, is a prominent cryptocurrency exchange that uses blockchain technology to provide clients with a diverse range of trading goods. Hundreds of tokens are available to clients in over 200 countries and you can easily purchase Tether (USDT) using our step by step.
It allow users to purchase, sell, and swap multiple supported assets. It also allows you to lend and borrow specific coins, as well as join proof-of-work mining pools and earn crypto as a miner. OKX presently offers over 100 cryptocurrencies, as well as over 400 crypto trading pairings.
According to CoinMarketCap, OKX is now one of the top 20 cryptocurrency exchanges in the world by trading volume, and it has a global presence.
OKX Pros
- Allows the use of a wide range of fiat currencies to establish an account.
- Offers diverse range of services.
- Hundreds of trading pairs with high staking APYs.
- An easy-to-use buy/sell dashboard.
- Online chat tech support that replies promptly.
OKX Cons
- Very Complex fee structure.
- US Citizens are not allowed.
- There are no Demo accounts available.
How to buy Tether on OKX
Follow our step by step guide below to start buying Tether (USDT) on OkX Exchange:
1. Log in to your OKX Account.
2. Under the "Buy" tab, choose the fiat currency you wish to use and Tether from the dropdown menu. Then, enter the amount of fiat cash you wish to spend or Tether (USDT) you want to purchase.
3. Select your desired mode of payment (Credit Card, Bank Transfer or Crypto).
4. Your bought Tether will be instantly deposited to your OKX account after payment is completed.
Other Exchanges to buy Tether
Aside from using above popular platforms, there are variety of smaller cryptocurrency exchanges where you can buy USDT.
| 1. Crypto.com Exchange | Join Now |
| 2. HitBTC | Join Now |
| 3. BKEX | Join Now |
| 4. Bitget | Join Now |
| 5. Hotbit | Join Now |
| 6. WhiteBIT | Join Now |
| 7. Coinsbit | Join Now |
Buy Tether on Decentralized Exchanges.
Below, you will find comprehensive and detailed review about top rated decentralized exchanges using which you can buy Tether (USDT) easily.
1. PancakeSwap (v2)
PancakeSwap is the most popular and widely used AMM for staking and yield farming. The exchange's trade volume exceeds $650 million. PancakeSwap is now the largest project running on BSC, and this momentum is anticipated to continue even if DeFi gains traction.
Still, adding PancakeSwap to a BSC is a significant step in the right way since it lets customers to engage in DeFi without worrying about expensive transaction fees or sluggish transaction speeds. While the market remains unpredictable and dynamic, the PancakeSwap team is working hard to provide an open and transparent platform that provides a number of ways to profit from crypto assets. There is also an emphasis on enhancing user experience in order to enhance platform usage, even among new users.
PancakeSwap (v2) Pros
- Pools and farms benefit from high APR/APY returns.
- Lower transaction costs than Uniswap.
- A diverse assortment of items.
- With an active community and developers, has more daily transactions than Uniswap.
PancakeSwap (v2) Cons
- Possible loss in liquidity pool.
- Prediction and the lottery might easily result in a loss of dollars (gambling).
- Because of its popularity, the network may get clogged.
- Many token scams are a possibility.
Uniswap (v3)
Uniswap is a decentralised exchange (DEX) that allows users to finance liquidity pools and benefit from them.
The platform's user-friendly online interface allows users to exchange Ethereum-powered ERC-20 tokens. Previously, decentralised exchanges had small order books and poor UXs, leaving a huge opportunity for successful decentralised exchange.
Users no longer have to accept defects because they can easily exchange Ethereum-based protocols using a web 3.0 wallet thanks to Uniswap. You can do so without having to deposit or withdraw funds from a centrally controlled order book. Uniswap allows users to trade without the intervention of a third party.
Uniswap (v3) Features
- Privacy rights: You do not need to undergo KYC to utilize Uniswap. Instead, trade is done straight from your wallet, thus your public wallet address is the only identity required.
- Security: Because Uniswap is non-custodial, it is as secure as the Ethereum blockchain itself, as the protocol does not transport money. Uniswap's smart contracts have been examined by several teams, including those that checked the Maker DAO contracts.
- New Tokens: Anyone may develop an ERC20 token and couple it with ETH to provide liquidity for the new pool. This means that Uniswap provides faster trading access to fresh tokens than anywhere else.
- Low fees: Uniswap charges only a small 0.3 percent fee every exchange. Centralised exchanges, on the other hand, typically charge 0.5 percent or more every deal.
- Trustless: Unlike centralised exchanges, you maintain your private keys when you trade with Uniswap. You are the custodian of your tokens and swap them directly with the liquidity pools.
How to buy Tether on Uniswap (v3)
In this section, we'll go through below steps on how to make your first Tether purchase on Uniswap.
Uniswap allows you to buy Tether (USDT) and any of the thousands of ERC20 tokens offered by the Ethereum network. To do so, you'll need sufficient ETH on hand to cover any transaction costs, as well as anything to exchange for the ERC20 token you desire mostly Ethereum or USDT (ERC-20).
Step 1: Navigate to the Uniswap exchange platform. Click the 'Connect to a wallet' option in the upper right corner and log in with the Metamask or Trust wallet.
Step 2: After logging in, the trading dashboard will be shown. Select the token you want to trade for, and the token you want in the top section (in our case Tether), You can also search Tether (USDT) in Coinmarketcap and copy/paste the USDT contract in uniswap.
Step 3: You are now ready to place your order. You can put a number in the top area to specify how much you want to spend, or a number in the bottom field to specify how much you want to purchase.
Step 4: At the bottom of the order menu, you'll see how much you'll be charged. If you're satisfied with these numbers, click the 'Swap' option. When you're finished, confirm the transaction, and it'll be processed. Once completed, your tokens will be available in your ERC20 wallet.
Conclusion
Choosing the best cryptocurrency platform for Tether (USDT) might be a difficult task, there are various factors that one should consider before selecting a crypto exchange. These include the fees structure, security, exchange features, and whether it is based on fiat or crypto.
Remember, once you have shortlisted some exchanges, do your research on each of them to identify the most appropriate for you.