Do you want to know how to buy USDT? In this article, we will talk about 4 different ways to buy the most important cryptocurrency in the crypto world.
If you want to invest in cryptocurrencies, trade them, or even send money to someone in another country, this is the ideal currency to do so. Where we know more.
The importance of buying USDT in the cryptocurrency market
Buying USDT is essential to interact with the blockchain and various networks in the crypto world. This is because regular dollars or fiat currencies cannot be used on these networks.
Therefore, the alternative here is to use one of the stablecoins, whose price is linked to the dollar and can be transferred on different networks.
USDT is the ideal currency for this because it is equal to 1 US dollar at all times.
Thus, it enables you to perform various financial transactions on the network in a currency whose price is stable and does not fluctuate all the time, unlike cryptocurrencies such as Bitcoin, Ethereum, and others.
You can use USDT to:
- Investing in cryptocurrencies.
- Trade cryptocurrencies, whether long or short-term.
- Earn passive income by lending currency to others.
- Sending money to people living in other countries, but you must make sure that USDT is not banned in your country or in the country you are sending it to.
All of these different uses have made USDT a very popular currency with high buying pressure.
Fortunately, there is always an abundance of liquidity for this currency at all times, and it is easy to purchase it through various channels. The currency can be purchased through:
- Centralized platforms such as Binance.
- Decentralized platforms such as UniSwap.
- Hot wallets are like the MetaMask wallet, but this feature is not available in all countries.
- Free market, or as it is known, Peer-to-peer (P2P).
We will explain all of these methods quickly in this article.
1. Buy Tether via centralized platforms
The first way to buy USDT is through centralized platforms such as Binance, OKX, and others.
This means that you must create an account on the platform first before using it. After this, you will not be able to buy USDT on most of these platforms without KYC procedures.
On some platforms, you may be able to sell cryptocurrencies you hold for USDT but you will not be able to buy them.
To be able to purchase, this will be done by transferring cash funds to USDT, and therefore KYC procedures are required.
After going through the procedures, you will easily be able to link your bank card to the platform and make purchases.
This method will be suitable if you live in a country where banks deal with cryptocurrencies.
In some countries, you may be able to make a bank transfer on the platform, and this is especially convenient if you are in Turkey.
However, in the majority of Arab countries that allow dealing in cryptocurrencies, this method will not be available.
Fees will range between 2-4% with this method, but the purchase will be made instantly and quickly.
If you use Payoneer cards, you will be able to purchase by linking the card to the platform. But make sure that your name matches the name documented on the platform in the KYC procedures.
2. Buy USDT from decentralized exchanges
If you do not prefer dealing with centralized platforms and want to buy from decentralized platforms, you will not need KYC. But you will need to pay gas fees.
Here the fees will vary based on the network. Fortunately, you can buy USDT currency from more than one different network.
The cheapest networks to buy from are Solana, Binance, Polygon, and Tron, and the network with always high fees but the safest is Ethereum.
You will need to purchase via one of the decentralized exchanges found on these networks.
Here we recommend either PancakeSwap on the Binance network or UniSwap on the Ethereum network.
Another platform we recommend is the RVF platform, which is distinguished by the fact that it works on more than one different network. Therefore, you can easily buy from it due to its ease of use.
3. How to buy USDT directly from the MetaMask wallet?
There is another way to buy USDT through some hot wallets such as MetaMask.
But this method is most suitable for those who live in Europe or some states in America that allow this.
The MetaMask wallet allows users to purchase directly through the wallet via the central platforms that the wallet handles.
But you will have to create an account and go through KYC procedures on these platforms, the most famous of which is MoonPay.
This method is also very expensive, as fees can exceed 5%. Therefore, it is suitable for those who live in a country that prohibits popular platforms such as Binance but allows dealing in cryptocurrencies.
The Binance platform, for example, has recently begun to face many legal problems in some European countries.
Don’t forget that you will also need coins to pay gas fees on the network you will choose to perform this operation.
4. Buy USDT from Peer to Peer Market (P2P)
This method will suit most Arabs, given that many Arab banks do not deal with cryptocurrencies.
But you must be careful here, given that some countries completely prohibit dealing with cryptocurrencies and are therefore illegal in them, such as Egypt, for example.
Other countries, such as Saudi Arabia, only warn against dealing with it, and therefore it is possible to deal with crypto there.
If you live in a country that prohibits the use of cryptocurrencies, this method is not suitable for you, unfortunately.
The best fit for this method is those who live in the Emirates, Saudi Arabia, or the Gulf in general.
The free market (P2P) exists on more than one central platform, and the most famous central markets are those on the Binance platform and OKX.
Through these markets, you can access them to buy USDT directly from other sellers.
The platform will supervise the process only to ensure that the process is free of any scam or fraud.
But you will choose the seller who wants his cash in your preferred method, whether bank transfer, PayPal, or other.
You will put the amount you want to sell to buy USDT. After that, you will pay the seller and he will send you the coins immediately.
