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How to Buy Tether7-min read

Fahad Asif

Fahad Asif |  Updated on 18/1/2023

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 February 2023

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:

CEX.IO Review

CEX.IO Review

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Pros

  • list bullet Very low fees, highest spot trading commissions capped at 0.25%
  • list bullet Very easy-to-use and user-friendly dashboard, one of the best UX scores on the market
  • list bullet Over 200 crypto markets to choose from, all accessible from their comprehensive mobile app too

Cons

  • list bullet Different fees for different payment methds
  • list bullet Some features are exclusive to US customers
Libertex Review

Libertex Review

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Pros

  • list bullet 0% fees on stock trades, minimum deposit of only $10 or equivalent
  • list bullet Over 322 tradable assets available
  • list bullet Unmatched user-friendly interface, easy for beginners to catch on

Cons

  • list bullet Unavailable in some countries, including the United States
  • list bullet Only features two types of accounts (Demo and Standard)
Binance Review

Binance Review

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Pros

  • list bullet Advanced charting with a variety of choices for overlays and indicators.
  • list bullet Has the option to use Binance Lite which is very useful for beginners.
  • list bullet Low fees and one of the most reputable crypto brokers.

Cons

  • list bullet Digital wallet is third-party software.
  • list bullet UI can be most suited for professionals and may be complex at first glance.
  • list bullet Strict account verification.
Paxful Review

Paxful Review

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Pros

  • list bullet Paxful offers biometric authentication and verification.
  • list bullet Has more than 300 plus payment modes with fixed trading fees.
  • list bullet Quick and speedy support system.

Cons

  • list bullet This digital currency exchange ID's not regulated. Might be liable to seller scams.
  • list bullet Higher trading fees as compared to other exchanges.
  • list bullet Only has 3 cryptocurrency options.

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.

 

CEX.IO

 

Other Excellent Exchanges

Based on several user reviews and an abundance of several trader-friendly features, Binance, Libertex, and Paxful 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. Finally, Paxful boasts over three hundred payment methods and famously charges zero fees when buying crypto.

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.

How to buy Tether in India

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:

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, Binance and Paxful. 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.

Automated Crypto Trading

The technology behind crypto trading bots is an innovation that allows you to deal with and trade various tokens without monitoring your accounts and exchange dashboards every minute.

As a machine learning technology, it automatically trades your tokens at specific periods depending on the combination of unique algorithms. These algorithms vary depending on your trading strategy, technical indicators, asset price and rebalancing factors.

Automated crypto trading is an excellent option for traders and investors who don’t have the time to monitor their deals all day. Today, their predictions are more accurate than ever, as technological innovation in machine learning grows in leaps and bounds.

However, you should note that the market for automated crypto traders is unregulated, and it’s essential to read reviews on platforms like Coinbharat to see our vetted, tried and trusted list of solutions.

But, fear not! You can make a lot of money trading with these intelligent bots. For this reason, our team has done the hard work of testing out the best crypto trading bot and bringing it to your attention.

Our top crypto trading bots can be found on their dedicated page.

Note that the Aladdin bot has existed for a while and has made billions for many investors. Through it, BlackRock has AUD valued at $10 trillion and works as a virtual money-making machine for many of the wealthiest intuitional investors.

Today, automated crypto traders are becoming more accessible to the broader public. However, you should never forget to read reviews of our platform’s solutions before choosing.

Best Automated Trading Software for February 2023

The following bots have been carefully verified and have found to be fully safe and compliant with all legislative requirements, rendering them the top choice for those seeking to get in on this new and novel technology:

Quantum AI Review

Quantum AI Review

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Pros

  • list bullet Users can automate their stock, forex and commodities trading
  • list bullet Features integrated Data Analysis and Risk Assessment tools in order to avert high-risk trades.
  • list bullet Easy to navigate with a wide array of trading preferences its users can automate.

Cons

  • list bullet As it is mostly known for forex and stock trading, Quantum AI is limited to only three cryptocurrencies - Bitcoin, Bitcoin Cash and Ethereum.
Bitcoin Code Review

Bitcoin Code Review

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Pros

  • list bullet Registration and verification on Bitcoin Code is relatively quicker.
  • list bullet It offers a fast execution speed of 0.01 seconds and a 99.4% claimed success rate.
  • list bullet Supports instant withdrawals with zero fees, no trading fees or commissions. Pay only on profit.

Cons

  • list bullet Trading bot does not offer a mobile application.
  • list bullet It requires a minimum deposit of $250 to start using its services.
Bitcoin Prime Review

Bitcoin Prime Review

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Pros

  • list bullet Higher success rate which translates into more potential profit across 14 different crypto markets.
  • list bullet User-friendly UI whilst also providing a demo version.
  • list bullet No hidden cost and a 24/5 support system combined with easy withdrawals.

Cons

  • list bullet Requires a minimum of $250 investment to start trading.
  • list bullet May present a difficult learning curve for newbies.
BitQT Review

BitQT Review

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Pros

  • list bullet Offers stock, commodity, CFD and crypto trading (Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple and many more)
  • list bullet Renowned for its easy-to-use demo platform, allowing users to fully familiarise themselves with trading
  • list bullet BitQT offers up to 1000x leverage, allowing even beginners with small deposits to bet big on the market

Cons

  • list bullet Requires a minimum deposit of $250 or equivalent to activate your automated trading account
  • list bullet Analytics section could be improved to match the UI improvements of newer robot traders
Cryptosoft Review

Cryptosoft Review

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Pros

  • list bullet 24/7 Support team and complete transperancy with all trades carried out by the bot in
  • list bullet One of the few bots to carry out trades in LItecoin, Monero, Bitcoin Cash, Libra and EOS, maximising profits from altcoins
  • list bullet Trading across a wide array of crypto markets to generate incrementally greater returns over the long-term

Cons

  • list bullet Requires a minimum deposit of $250 or equivalent
  • list bullet Does not have a separate mobile app
Immediate Edge Review

Immediate Edge Review

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Pros

  • list bullet The platform offers a free demo account for its users.
  • list bullet Users can automated their trading preferences with just a few simple clicks.
  • list bullet Immediate Edge has a support team that is available 24/7 to serve its customers.

Cons

  • list bullet The only traded cryptocurrency on the platform is Bitcoin.
  • list bullet Only provides specific traders on the platform.
  • list bullet Does not have an app.
Oil Profit Review

Oil Profit Review

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Pros

  • list bullet The most profitable oil trading bot on the market and one of the easiest to use for those new to stock trading.
  • list bullet Features a great demo account that quickly teaches those new to trading everything they need to know about oil and stock investments.
  • list bullet Make profits in times of economic volatility and gain real-time updates on all market developments.

Cons

  • list bullet Oil is a commodity that many are turning away from, given the ongoing climate emergency.
  • list bullet A minimum deposit of $250 or equivalent is required to automate your oil trades.
Dogecoin Millionaire Review

Dogecoin Millionaire Review

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Pros

  • list bullet Its machine learning algorithm is regularly updated and constantly improves with each user interaction, as well as automated trade carried out
  • list bullet The most lucrative automated trading software for Dogecoin trades in the entire market
  • list bullet Features a dedicated 24/7 support team reachable via phone or integrated chat

Cons

  • list bullet The bot can only carry out Dogecoin trades and does not expand its capabilities for investing in other tokens
  • list bullet Due to high demand - being once the most profitable bot on the market - Dogecoin Millionaire limits the number of new customers it can onboard
Ethereum Code Review

Ethereum Code Review

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Pros

  • list bullet In addition to carrying out Ethereum trades, customers can also set up automated buy / sell rules for Shiba Inu (SHIB), Basic Attention Token (BAT), Tether, 0X (ZRX), Ripple (XRP) etc
  • list bullet Created by Wall Street insiders to empower retail investors with the tools needed to reach new levels of wealth
  • list bullet Entirely free to use with no hidden costs or post sign-up recurring charges

Cons

  • list bullet UI seems rather outdated in comparison with that of newer automated trading bots
  • list bullet Whilst still effective, trading preference options and customisable features could seem rather dated for current standards

Is Tether a Good Investment?

How to buy Tether in India

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:

How to buy Tether in India

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.

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:

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

FAQs

How to buy Tether in India?

All you have to do is signup on the right brokerage, deposit fiat and make your purchase.

Where to buy Tether in India?

You can buy Tether on Binance, CEX.IO, Libertex and Paxful.

What can I buy with Tether in India?

You can buy anything as long as the vendor accepts crypto as a means of payment.

Is Tether a Stablecoin?

Yes, Tether is a stablecoin as opposed to regular cryptos like Solana and BNB.

What is a stablecoin?

A stablecoin is a crypto asset whose value is backed by a real-world asset such as fiat and gold.

Why invest in Tether?

Tether is a non-volatile crypto asset that will stand the test of market volatility and uncertainty.

What are the pros of buying Tether?

You get a stable asset that’s easily transferable across multiple crypto platforms.

Is Tether a good investment?

Given its inherent stability, Tether is an excellent investment for risk-averse traders.

How to buy Tether online?

Simply register with an online broker like Binance, Paxful, Libertex, or CEX.IO and deposit fiat to make your purchase.

When is the right time to buy Tether?

As long as you’re well informed on the best exchange platforms, and researched adequately, you can buy Tether anytime.