How to Buy Tether (USDT)7-min read

Introduction to Tether

Stablecoin giant Tether’s USDT token saw a significant increase in market cap, growing by nearly $1 billion, after a regulatory crackdown against one of its rivals, BUSD. With a market dominance of 50.77%, Tether’s stablecoin market is now worth $136.93 billion, showing that investors are turning to the longtime king to escape future regulatory crackdowns in the US. This positive news highlights Tether’s strength and reliability, making it a great option for investors looking to buy a stablecoin. Buy Tether today!

In these uncertain times of general volatility, tokens like Tether provide some stability and optimism for profit compared to the wide swings and concerning misses that come with a nascent ecosystem. In this guide, you’ll learn how to buy Tether in India, discover the best crypto trading platforms, the best bitcoin wallets to use for storage and offline protection, and lots more.

Tether is a stablecoin, which sets it quite far apart from regular cryptocurrencies. Many traders shy away from investing in it, being under the impression that the potential profits from Tether’s appreciation are not as plentiful as other tokens like Ethereum and Solana. Nevertheless, as you’ll come to see, Tether’s large market capitalisation and extremely significant use-cases is a hint of its vast potential. Read on to find out more.

Where to Buy Tether in India and Abroad – Best Brokers in November 2024

We have conducted a comprehensive analysis, considering various crucial factors to come to decision that the most reliable and efficient Tether brokers are the following:

Featured Exchange: CEX.IO

CEX.IO is a bitcoin exchange that also allows users to buy and sell tether. Tether is a digital currency that is pegged to the US dollar. This means that each tether is worth one dollar. CEX.IO is one of the most popular exchanges for buying and selling tether. The website has a user-friendly interface and allows users to buy and sell tether with ease. The exchange also has a variety of payment methods, including credit cards, debit cards, and bank transfers. It also has a high liquidity rate, which means that users can buy and sell tether quickly and easily. Overall, CEX.IO is an excellent choice for those looking to buy tether.

Other Excellent Exchanges

Based on several user reviews and an abundance of several trader-friendly features, Binance, Libertex, and CEX.IO are the overwhelming top crypto broker choice for traders in India seeking to purchase Tether.

All three platforms have easy, secure signup procedures that appeal to newbie traders. In addition, Libertex has a demo feature that allows new investors to conduct mock trades with virtual tokens to help them get a feel for its multiple trading options- options that especially appeal to veteran investors.

Binance has relatively low trading fees, making them an ideal choice for many people, while CEX.IO‘s cybersecurity track record is unmatched in the industry.

What Is Tether?

Tether, abbreviated as USDT, is a popular stablecoin pegged to the US dollar. Per its official website, Tether is supported “100% by Tether’s reserves”. This means that for every USDT token in market circulation, there’s an equivalent of $1 held in assets.

Despite this claim, Tether has faced legal action in recent years over its ability to back up its tokens with a sufficient dollar reserve. However, the matter appears to have been put to bed in 2021 after a US CFTC (Commodity Futures Trading Commission) investigation concluded that Tether could only partially back these claims.

Unlike other tokens like Bitcoin and Ethereum, Tether is stable in times of market volatility.

However, the question remains- are stablecoins genuinely stable? We answer this question in the section below.

What Are Stablecoins?

Stablecoins are cryptocurrency assets whose market values are pegged to other asset classes, such as fiat currency or gold. In the case of Tether, the equivalent currency is the dollar. Other popular stablecoins include USD Coin and Dai.

Stablecoins combat traditional cryptocurrency volatility by tying token values to more stable stocks or assets. Most stablecoin projects have reserves where they securely store the equivalent backup assets.

These real-world assets serve as collateral and provide liquidity for the respective stablecoins. In times of market uncertainty, stablecoins provide stability and mobility for investors and trading activities on exchange platforms. This is where they differ from regular tokens.

Here are some primary utilities for stablecoins over other cryptocurrencies:

• Real-world asset-backing
• Remittances or any other method of transferring assets digitally
• Liquidity for DeFi projects
• Easily transferable across multiple exchange platforms
• Capital storage
• Reduced market volatility

How to Buy Tether in India

To buy tether in India, you can follow these quick and easy steps:

1. Choose a broker
2. Create an account
3. Deposit fiat
4. Search for Tether (USDT)
5. Buy cryptocurrency
6. Begin trading

Several brokers are out there, each offering its assortment of cryptocurrency tokens. Tether is the largest stablecoin by market cap, so it is available on all major exchanges.

After you have chosen your preferred broker, you can go ahead to create an account. You will be required to provide basic contact information, such as your full name and verify your account via an email address.

Most cryptocurrency exchange platforms require two-factor authentication to provide an additional security layer on accounts. Here, you must provide valid identification such as an ID card, driver’s licence or passport. Depending on the exchange platform you choose, you may have to wait between 48 hours and a few days before your account is fully verified.

After this, you can deposit fiat to make your first Tether purchase. USDT is a stablecoin, so you can expect its value to remain constant across all brokerages. Today, many exchanges allow users to buy crypto with credit cards to take advantage of this quick and easy option.

Now that you’ve purchased Tether, you can go ahead to explore the multiple trading options available!

Step-by-step Tutorial for Buying Tether

Here’s a step-by-step guide to buying Tether on Binance:

1. Go to the Binance official website
2. Click on register.
3. Enter your email details
4. Set your login password
5. Click on the arrow to register
6. Re-enter your email and password, then select login
7. On the homepage, select P2P trading
8. Select Tether from the list of crypto options
9. Click on buy

Choosing the Right Tether Exchange for You

When buying Tether, a crucial factor is a type of investment you wish to make, your investment capabilities and what your expectations are. For instance, you must determine whether you want to participate in day trading or futures trading.

Some exchanges allow you to practice with various trading tools in a demo account before starting the real thing, which will come in handy for newbies.

Other factors to consider include payment methods and ease-of-use features. Also, you want to be on the lookout for secure platforms with robust encryption protocols.

Vetting Our Recommended Brokers

Our recommended brokers are CEX.IO, Libertex, and Binance. These three where selected through a highly analytical and critical vetting system with the aim of helping our readers narrow their choices to these platforms.

We’ve rigorously checked the profiles of these brokers, having opened trading accounts on each one, testing them for security, trading fees, withdrawal times and a variety of payment options. In addition, we’ve closely examined every detail of their terms and conditions to validate strict compliance with the relevant regulatory framework.

Moreover, we received and aggregated the relevant feedback from their users and verified each claim and complaint.

As an investor seeking to choose the right exchange platform, it is essential to check out reviews and learn all there is to know about the best cryptocurrency trading platforms before making any deposit.

This is important for your safety and cybersecurity, as the cryptocurrency industry is still very much unregulated.

How to Store Your Tether Safely

Exchange platforms offer an online crypto wallet for you to store your tokens securely. However, history has shown that storing your valuable tokens on exchanges is not very safe, as there have been several instances of hacks involving major brokers with millions of dollars worth of cryptocurrency stolen. CEX.IO stands out among our recommended options as they have never been hacked.

Using a cold crypto or Bitcoin wallet is the best way to store your Tether safely. These hard drive-like devices are totally secure and store your valuable tokens safely offline until you’re ready to transfer them.

Is Tether a Good Investment?

Today, Tether issues tokens backed by other tokens, such as the Chinese Yuan and the Euro. However, neither have the considerable market cap that USDT (the dollar-pegged Tether) has.

Tether differs primarily from other cryptocurrencies like Bitcoin and Ethereum in its purpose as a stablecoin and value. While Ethereum and Bitcoin may experience wildly fluctuating spells of price volatility, Tether’s value remains relatively stable, making it a good form of investment. New crypto coins are always popping up on the market, so be sure to keep an eye out for them so as not to miss out on any time-sensitive investment opportunities!

Tether boasts a market cap of nearly $70 billion, a considerable share of the overall crypto market.

Other Stablecoins

You should note that an asset rather than actual capital backs Tether. Thus, it may not be as stable as some other modern stablecoins, some of which include:

• Circle
• USDC
• True USD
• Binance USD

Is Tether Legal in India

Yes, Tether is entirely legal in India. At Coinbharat, we ensure that all our brokers fully comply with the law.

Tether Taxation in India

Although the government recently introduced a taxation scheme on crypto profits, their willingness to be involved rather than ban it outright is a sign that the government is well on its way to fully adopting it.

How to Sell Tether

You can sell Tether on your chosen exchange platform by swapping it for another token or fiat in a peer-to-peer exchange.

What to Know Before Buying Tether

Tether is a stablecoin, and it is thus relatively free from the ravages of market volatility. This, more than anything else, draws investors to the token.

However, you should never forget to check on professional review sites like Coinbharat to follow the latest developments and make informed trading and investment decisions.

Tether’s Market Cap

Tether’s market capitalization is over $65.5 billion, making it the third largest crypto asset by market value, after Bitcoin and Ethereum. This remarkable growth reflects Tether’s versatile utility and global acceptance, with USDT now accepted as a payment method on many exchanges and for many services. As the world’s biggest stablecoin, Tether continues to prove its value as a reliable, cost-effective and secure form of digital currency.

Investing Responsibly

As an investor, you should never forget to invest responsibly. Rather than follow the crowd and trend, make investments and conduct trades only after intensive research. Furthermore, understand that the market is highly volatile, so caution should be your watchword always.

Latest Updates

Tether’s stablecoin, USDT, is close to recovering its lost market value due to the collapse of TerraUSD. Tether had about $81.4 billion in assets backing its token as of Monday, close to the $83 billion peak it reached in May 2021. USDT aims to maintain a one-to-one redemption with the US dollar and is the world’s most traded cryptoasset. The quality of Tether’s reserve assets has been questioned in the past, and regulators are scrutinizing stablecoin issuers. Tether has benefited from the banking turmoil that has affected rivals like Circle’s USD Coin and from Bitcoin’s recent rally.

Conclusion

Buying Tether is quick and easy, provided that you choose the right broker. As it is a stablecoin, its value is pegged to a real-world asset (the dollar in this case). Thus, it doesn’t fluctuate as wildly as tokens like Ethereum and Bitcoin.

Here are the key takeaway points from this piece:

• Tether is not volatile like other cryptocurrencies
• Make adequate research and visit review websites to decide the best exchange platforms to buy Tether
• Tether is legal in India
• A hard wallet is the best way to store your tokens safely

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.