A Guide to the Best Platforms for Buying Tether (USDT)

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Tether (USDT) is a cryptocurrency pegged to the US dollar (USD), making it a type of stablecoin. Its value is tied to a reserve of assets, meaning 1 USDT is designed to maintain a value equivalent to 1 USD. Backed by substantial reserves held by Tether Limited, this stability makes it a popular intermediary token for day traders and investors seeking a stable store of value within their digital wallets.

The price of USDT rarely deviates significantly from its $1 peg. In this guide, we explore some of the top exchanges where you can purchase Tether.

Top Exchanges for Buying Tether (USDT)

Binance

Founded: 2017
Markets: 1700+
Customer Service: Support tickets, email, chatbot, FAQ

Binance stands as one of the world's largest cryptocurrency exchanges by trading volume. Founded by Changpeng Zhao in 2017, it quickly rose to prominence by offering an extensive range of cryptocurrency trading pairs. The platform allows users to buy crypto assets directly with fiat currency.

Originally based in China, Binance relocated due to tightening regulations and has since operated from various global bases. The exchange offers a vast suite of products, including savings, staking, derivatives, loans, and even NFT marketplaces. It also features its own tokens: BUSD, a stablecoin, and BNB, which can be used to reduce transaction fees.

A notable incident occurred in 2019 when Binance was hacked, resulting in a $40 million loss. The exchange promptly reimbursed affected users through its Secure Asset Fund for Users (SAFU), a cold storage emergency insurance fund.

Trading Fees: A standard 0.1% fee for both makers and takers. Fees can be reduced based on 30-day trading volume or by holding BNB.

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OKX

Founded: 2014
Markets: 800+
Customer Service: Help center, live chat, phone support

OKX is a major global cryptocurrency exchange that provides access to a wide array of digital assets. The platform can be accessed via desktop and mobile applications, offering users ways to earn passive income. OKX has also launched its own blockchain, OKTC, facilitating access to decentralized finance (DeFi), on-chain asset management, and NFTs.

The exchange is known for its straightforward account registration process. Its standout features include a vast selection of cryptocurrencies and the "Earn" program, which allows users to generate yield through staking, lending, and liquidity farming.

While the company was initially founded in China, it moved its headquarters to Malta to navigate regulatory landscapes. For standard users not holding OKB (the platform's utility token), fees are competitive. VIP users can enjoy fees as low as 0.01% for makers and 0.03% for takers, depending on their 30-day trading volume.

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HTX (Huobi)

Founded: 2013
Markets: 800+
Customer Service: Help center, support tickets, email, live chat

HTX, originally known as Huobi, was established in 2013. Due to evolving crypto regulations in China, the exchange moved its operations out of the country in 2017. It has built a strong reputation, particularly in Asian markets, and is known for its deep liquidity in major trading pairs like BTC/USDT.

The platform is accessible on major desktop OS and via mobile apps. It also offers a non-custodial wallet called iToken, which supports features like staking. HTX employs robust security measures, including multi-signature cold wallets and a 20,000 BTC security reserve fund.

The exchange uses a tiered fee structure based on a user's 30-day trading volume, starting at 0.2% for both makers and takers for the first $5 million traded.

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CEX.IO

Founded: 2013
Markets: 400+
Customer Service: Help center, email, live chat, phone

CEX.IO is a UK-based cryptocurrency exchange platform that began as a cloud mining provider. It has since evolved into a comprehensive exchange that caters to both beginners and advanced users. The platform is regulated and licensed in its operational jurisdictions, including registration with FinCEN in the U.S.

A significant advantage of CEX.IO is its support for fiat currency deposits, including USD, EUR, and GBP. It also offers a savings account feature where users can earn rewards on their crypto, with locked savings and staking options providing higher potential returns.

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Coinbase

Founded: 2012
Markets: 400+
Customer Service: Help center, email, chatbot, phone

Coinbase is one of the most well-known and user-friendly cryptocurrency platforms, operating in over 100 countries. It provides a simple interface for buying, selling, and storing crypto, making it an ideal choice for beginners. The exchange supports a large number of assets and has recently consolidated its advanced trading features into "Coinbase Advanced."

Security is a strong point for Coinbase, which utilizes cold storage for the majority of user funds and multi-party computation for online assets. However, its fee structure on the main platform is generally higher than its competitors, though fees decrease for higher-volume traders on Advanced.

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KuCoin

Founded: 2017
Markets: 1200+
Customer Service: Help center, live chat, support tickets

KuCoin is a global exchange renowned for its vast selection of cryptocurrencies—over 1200—making it a hub for traders seeking altcoins. The platform emphasizes user experience and technological innovation, offering features like native trading bots and a staking service called Pool-X.

The Know Your Customer (KYC) process is optional, though completing it grants higher withdrawal limits. KuCoin uses a combination of hot and cold wallets to secure assets and undergoes regular audits. Its fee structure is competitive, and discounts are available for users who hold the platform's native token, KCS.

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Frequently Asked Questions

What is Tether (USDT)?
Tether (USDT) is a type of cryptocurrency known as a stablecoin. Its value is pegged to the US dollar, meaning 1 USDT is designed to always be worth approximately $1. It is backed by reserves held by the issuing company, Tether Limited.

Why would I use USDT?
USDT is primarily used as a stable medium of exchange within the volatile crypto market. Traders use it to hedge against market swings, move funds between exchanges quickly, and as a dollar-denominated safe haven asset without having to convert back to fiat currency.

Is buying USDT safe?
The safety of buying USDT depends on the platform you use. It is crucial to choose a reputable, secure, and—where possible—regulated exchange. The primary risk with USDT itself is not volatility but the credibility of its issuer and the adequacy of its dollar reserves.

Can I earn interest on my USDT holdings?
Yes, many of the exchanges listed above, such as Binance, OKX, and KuCoin, offer earn programs. You can lend your USDT or stake it in various products to generate passive income, often at attractive interest rates.

What's the difference between USDT and other stablecoins like USDC?
The main difference lies in the issuing company and the transparency of their reserves. USDT is issued by Tether, while USDC is issued by Circle. USDC is often perceived as having more transparent and regularly audited reserves, though both aim to maintain a 1:1 peg with the USD.

Do I need to verify my identity to buy USDT?
Most reputable centralized exchanges (CEXs) require some form of identity verification to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. The level of verification required varies by platform and the limits you wish to have.