Stablecoins do not serve the same purpose as most cryptocurrencies. Stablecoins are designed as a safe asset, and can facilitate quick and cheap payments or money transfers on a global scale (remittances). They provide a fast way to transfer deposits or withdrawals between fiat currencies to cryptocurrency exchanges.
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USDT 101: how to buy, swap, and transfer USDT
However, USDT’s parent company Tether has faced controversies (more on this later). Learn all about crypto swaps and NFTs, and discover what’s trending in the budding world of Web3. Stablecoins are part of a larger story about global demand for the U.S. dollar, particularly outside of U.S. borders.
You can pay with a credit/debit card, Apple Pay, Google Pay, or PayPal. We also support local options such as SEPA , UK Faster Payments, Pix in Brazil, as well as Venmo and bank transfers in the US. Some exchanges, including OKX, don’t charge a fee to transfer USDT. However, a network fee will apply depending on the network you choose. These are fees paid to the blockchain network, and they also apply when you transfer USDT from one wallet to another, or from a wallet to an exchange. However, the process of buying USDT can be confusing for beginners.
How to Buy USDT: A Step-by-Step Guide for Beginners
- Stablecoins are particularly popular in areas with limited or restricted access to USD.
- As a result, stablecoins like Tether (which is pegged to USD) do not serve the same purpose as most cryptocurrencies.
- Stablecoins are part of a larger story about global demand for the U.S. dollar, particularly outside of U.S. borders.
- USDT can also be used as collateral for lending and borrowing, in yield farming and liquidity pools, and other DeFi applications.
- Check out our guide to USDT for a deeper understanding of this popular asset.
- Find all the answers to your MoonPay questions and start swapping cryptocurrency with confidence.
For example, if you invest $20 in USDT, you will receive $20 worth of USDT, minus fees, of course. As a result, stablecoins like Tether (which is pegged to USD) do not serve the same purpose as most cryptocurrencies. Unlike most cryptocurrencies, which are speculative assets, stablecoins are designed to have low volatility and a stable value. Strictly avoid moving to third-party messaging apps.➤ If anything seems suspicious, contact Bitget support before confirming the transaction. The Build Back Better Act mandates that all centralized cryptocurrency exchanges will be required to issue Form 1099-DA to users starting in 2026.
How can I buy USDT with a credit card?
David has been deeply involved with the cryptocurrency industry since 2017. Next, you’ll be prompted to enter the amount you’d like to purchase. Once you know which blockchain you prefer for USDT, you can choose directly in the MoonPay widget. We support Tether on many blockchains like Ethereum, Solana, Binance Smart Chain, Polygon, Tron, and more. How much USDT you can buy will depend on your account limit, with higher purchases requiring increasing/different KYC levels. There is a growing number of charities that accept donations in USDT (Tether) and other cryptocurrency.
You can now either Withdraw your USDT to another exchange or wallet or use the Exchange option to exchange your USDT for another asset. With USDT playing a role in many facets of crypto trading, it’s wise to understand how you can buy, swap, and transfer the stablecoin. For a deeper understanding of USDT and the company behind it, Tether, click here to read our explainer article.
- Input the amount of USDT you’d like to transfer, click “Withdraw,” and finish any necessary verification or authentication processes.
- With USDT playing a role in many facets of crypto trading, it’s wise to understand how you can buy, swap, and transfer the stablecoin.
- The Build Back Better Act mandates that all centralized cryptocurrency exchanges will be required to issue Form 1099-DA to users starting in 2026.
- MoonPay allows you to easily sell Tether and cash out directly into fiat currency and your bank account.
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MoonPay works with leading non-custodial Tether wallets like Ledger and Trust Wallet. MoonPay will set up a wallet automatically for you at checkout if it’s your first purchase for USDT (ERC-20), USDT (SOL), USDT (TRC-20) or USDT (BSC). And if you’re coming to MoonPay through your existing wallet, we’ll pre-fill your wallet address automatically.
After tapping buy, you’ll have the option to choose whether you want to place a one-time purchase or a recurring buy. If you select a recurring buy you’ll have the option to choose between daily, weekly, twice monthly, or monthly purchases. Stablecoins like USDT can be held as an alternative to the cryptocurrency market’s volatility, since the stablecoin issuer will attempt to keep the price constant. USDT can also be used as collateral for lending and borrowing, in yield farming and liquidity pools, and other DeFi applications. No matter the amount, you can buy Tether via a one-time purchase, or through a recurring buy order. Recurring crypto purchases allow you to gain USDT price exposure over time, helping to limit the risk of volatility through dollar-cost averaging principles.
This will make it harder than ever to ‘cash out’ stablecoins without the government being able to identify you. USDT, or Tether, is a cryptocurrency that is pegged to the value of the US dollar. This means one USDT is intended to remain equivalent to one USD, introducing broker ib providing a stable value in the often volatile cryptocurrency market. MoonPay allows you to easily sell Tether and cash out directly into fiat currency and your bank account. After the payment is made and confirmed, the USDT will be released to your Bitget wallet. You can check the updated balance by navigating to “Assets overview”.
Frequently asked questions about buying USDT
Due to the safety provided by stablecoins, many people hold and buy stablecoins like USDT because they are equivalent to USD. Centralized exchanges (CEXs), most often, offer USDT trading pairs directly with USD. Decentralized exchanges allow you to trade Tether with a multitude of altcoins. First, head to your account to locate your USDT and use your wallet. ➤ Bitget will send a verification code to your email and/or phone.
This guide breaks down everything you need to know about cryptocurrency taxes, from the high level tax implications to the actual crypto tax forms you need to fill out. Go to the “My Account” tab and follow the instructions in the “Verify your identity” section. Once the verification process is completed, full trading and transfer capabilities will be enabled for your account. Find all the answers to your MoonPay questions and start swapping cryptocurrency with confidence. Purchase Tether in more than 150+ countries using the local currency of your bank account. Generally, investors choose to use a wallet that’s off of an exchange, like a desktop or hardware wallet.
To swap USDT on OKX, make sure you’re logged in, verified, and already have USDT in your account. When you trade USDT for USD, you’ll incur a capital gain (though it’s likely that this capital gain will be close to 0). Because of the controversies around Tether, some investors have turned to alternative stablecoins like USDC. In this guide, we’ll walk through the best exchanges to buy USDT and answer a few frequently asked questions about Tether.
Therefore, most exchanges, like Bitget, Bybit, and others, will support it. Buying stablecoins like USDT is a straightforward way to retain one’s purchasing power. When traders take a profit, it is common practice to trade into a stablecoin on-chain instead of converting into fiat. From there, you will taken to a screen that displays your USDT assets and how much you have.