How to buy Tether (USDT) in Canada

With a market cap of $186,281,532,341.00 USD, Tether ranks as the 3^rd largest cryptocurrency by market capitalization in the world. It operates on the Ethereum, Binance Smart Chain, Solana and others blockchain network. It is currently trading at a price of $1.00 USD per coin and trades using the cryptocurrency code USDT.

Tether is a highly volatile asset capable of major price swings in a single day. So before you buy Tether, make sure you understand these unique risks as well as its tax and legal status in Canada.

If you want to buy Tether in Canada or track its performance, keep reading to see the latest USDT price, market cap and trading volume along with a step-by-step guide on how to invest in USDT crypto in Canada.

Tether (USDT) summary

Current price	$1.00
All-time high	$1.32
All-time low	$0.57
1-year price change	▼ -0.09%
Market cap	$186.28B
Market cap rank	#3
Total volume (24h)	$73.16B
Circulating supply	186,535,402,257
Network	Ethereum, Binance Smart Chain, Solana and others
Where to buy USDT	Buy on Coinbase

All monetary values in this table are in USD and were last updated on January 27, 2026.

How to buy Tether in 5 steps

The whole process of buying USDT can take as little as 15 minutes, and all you need is a smartphone or computer, an internet connection, photo identification and a means of payment. Follow these five steps to learn how to buy Tether in Canada:

1. Compare crypto exchanges

   The easiest way to buy Tether is through a cryptocurrency exchange. Choose an exchange that offers low fees, a user-friendly platform or 24-hour customer support. You can easily see top picks in our guide to the best crypto exchanges in Canada, or compare options below.

2. Create an account

   To create an account on an exchange, you will need to provide an email address, come up with a strong password and verify your identity through a process called KYC, which requires government-issued photo ID.

3. Make a deposit

   Once verified, you can deposit CAD using the payment method that best suits you. Common methods like Interac e-Transfer, bank wire and debit card payments are widely accepted on Canadian-friendly exchanges.

4. Buy Tether

   You can now exchange your funds for Tether. On beginner-friendly exchanges, this is as simple as searching for the coin name (Tether) or its crypto code (USDT), entering the CAD or USDT amount you want to purchase and clicking "Buy."

5. Secure your Tether

   Consider transferring your USDT to help protect against hacks, scams, platforms going bankrupt and other risks of keeping crypto on an exchange.

Dive deeper: Our guide to how to trade crypto

Where to buy Tether in Canada

We've curated a list of legitimate crypto exchanges below where you can buy Tether in Canada to help you compare deposit methods, supported fiat currencies and fees.

Tether price

The recent Tether (USDT) price is $1.00 USD per coin, which is -0.02% lower than the previous day's trading price of $1.00 USD. Over the past 30 days, USDT's price has changed by -0.08%, from $1.00 USD to the current price of $1.00 USD. Compared to this time last year, Tether's price has seen a decrease of -0.09% to its value as a cryptocurrency.

What is Tether's all-time high?

Tether reached its all-time high of $1.32 USD on July 24, 2018, which was a +130.56% increase from its previous all-time low of $0.57 USD, which it reached on March 2, 2015. It has since landed at its current price of $1.00 USD.

Historical Tether price chart

You can use this chart to track USDT price performance over time.

Can I buy Tether in Canada?

Yes, you can buy Tether in Canada. Simply open an account with a crypto exchange that operates in Canada and supports Tether—like the ones in our curated list above—and place a "buy" order. For example, Coinbase supports Tether and is a registered crypto exchange in Canada.

Because Tether is decentralized, it isn't tied to any single country. That means you can buy and sell it from anywhere in the world, including Canada, as long as you have internet access.

What is Tether?

Tether, otherwise known as USDT, is a cryptocurrency built on the Ethereum blockchain and founded by a Hong Kong-based company, Tether Limited. Tether is anchored to the US dollar, where every tethered cryptocurrency issued in circulation is backed at a 1:1 ratio by US dollars.

USDT was designed so that the US dollar could be digitised and used on the blockchain by financial businesses, such as cryptocurrency exchanges, wallets, payment processors and financial services. USDT has several pairings, meaning that it can be used to purchase several other cryptocurrencies.

USDT intends to give companies an alternative to the traditional processes involved in exchanging and depositing fiat currency. Its team aims to help businesses manage customers' assets through cryptocurrency while enabling them to settle fiat balances between exchanges. This means that companies can exchange cryptocurrency funds faster, bypassing the process of converting in to and out of fiat currencies through the banking system.

What will I need to buy Tether?

To create an account with your chosen crypto platform, you only need an email address or mobile number. This will usually allow you to deposit cryptocurrency, but not CAD.

If you want to buy Tether with Canadian dollars, you'll need to pass a Know Your Customer (KYC) check.

This is a standard security procedure for most exchanges in Canada and requires you to upload government-issued photo ID, and, in some cases, a selfie with today's date.

KYC is usually approved instantly, but in rare cases, you may have to wait a few hours or days.

Can I buy Tether with a credit card?

Several crypto exchanges in Canada accept credit cards as an instant purchase method. However, before buying Tether with a credit card, you should be aware of the additional cost and risks involved.

For instance, credit card fees are usually higher than bank transfers or e‑Transfers. Some card issuers may even block cryptocurrency transactions or treat them as cash advances, which are more expensive. Plus, if you don't pay off your credit card within your statement period, you may end up paying interest on your card balance and losing money if the price moves quickly.

For example, if you were to use a credit card to buy Tether, you could end up paying this:

• Price of USDT: $1.00 USD
• Purchase amount: 1000 USDT
• Estimated exchange fee (3%): $29.96 USD
• Total cost: $1,028.60 USD

If it took you three months to pay off your Tether purchase at a credit card interest rate of 19.99% APR, you would pay an additional $51.40 USD in interest on top of what you originally paid to buy Tether.

This example can help you compare the relative cost of buying Tether with a credit card versus other lower‑fee methods like Interac e-Transfers.

You can check the table of Canadian crypto exchanges above to see which ones accept credit cards for buying Tether, or visit our guide on buying crypto with a credit card for more details.

Can I buy Tether with a debit card?

Yes, it is possible to buy Tether with a debit card, as most Canadian crypto exchanges accept debit cards as an instant payment method.

To buy Tether with a debit card, you'll typically need to go through the standard steps to purchase crypto on your preferred platform and then select debit from the list of payment options (e.g. Interac e-Transfer, debit card, credit card) before completing your purchase.

Just note that there are often higher fees for crypto purchases with cards (both debit and credit) compared to paying with Interac e-Transfer or with another cryptocurrency.

Is buying Tether crypto a good investment?

If you are thinking about buying Tether or any other cryptocurrency, it's recommended that you understand the risks involved. Here are some facts to consider if you are thinking about buying USDT:

• Stablecoin: USDT is a stablecoin. This means that it is not intended to fluctuate in value, and instead follows the price of an underlying asset.

  With that in mind, investing in USDT for a profit is theoretically the same as investing in cash (USD). If you want to buy a cryptocurrency in the hope it will rise in value, you should consider non-stablecoin alternatives to USDT.

• Controversy: Tether Limited, the company that created USDT, is allegedly closely affiliated with the Bitfinex exchange. While Tether Limited claims that USDT in circulation is backed up by fiat currency reserves, it discontinued relationships with auditors who were supposed to verify this claim.

  This incident has led to speculation and uncertainty about whether USDT is securely backed up by US dollar reserves. Reports conducted by Moore Cayman in 2021 seem to support Tether's claims that USDT is fully backed by reserves, but it is worthwhile to assess alternative opinions too.

  For example, a study by the University of Texas suggests the true purpose of Tether is to keep the price of Bitcoin high.

• Competition: USDT is just one of many stablecoins pegged to the US dollar. USDC and Binance USD are two alternatives to Tether that you may want to consider.
• Use-case: Considering USDT is a stablecoin, the reason for investing in the token is not necessarily for profits. Generally, investing in a stablecoin is a good way to avoid market volatility and downswings while still keeping your assets in cryptocurrency.

  They can also be used to engage in DeFi practices like staking or yield farming without needing to worry too much about the market.

• Price volatility: Tether's price is largely based on speculation, meaning it can rise or fall quickly. For example, Tether's price has decreased by -0.03% in just the last seven days.

• Transactions can't be reversed: Once you submit a transaction to the crypto network, it can't be cancelled or reversed. Double-check the receiving address before submitting a Tether purchase order or moving Tether off an exchange. One good way to do this is to verify the first and last four digits of the wallet address before sending. There is no way to refund Tether sent to the wrong address.

• Regulatory uncertainty: The regulatory environment for Tether and other cryptocurrencies is constantly changing. It's important to understand how international rulings have the potential to impact Tether's future—for better or worse.

Dive deeper: Learn about common crypto scams and legit exchanges in Canada

Where to store your Tether once you buy it

There are two main options for storing Tether once you've bought it—keep it on an exchange or store it in your own personal wallet. Take a look at our guide to the best crypto wallets in Canada to see our top picks.

While it can be more convenient to leave your Tether on an exchange, you're vulnerable to risk if the exchange gets hacked or compromised in another way.

It's generally much safer to store your crypto on a software or hardware wallet, which gives you full control and custody of your coins.

How is Tether taxed in Canada?

Like all crypto, Tether is considered a commodity for tax purposes by the Canada Revenue Agency (CRA). That means it will be taxed similarly to other investments like stocks and ETFs.

Money you get from selling Tether can be treated as income or capital gains. That said, the CRA will tax crypto profits differently if you're a casual Tether buyer than if your crypto profits are classified as business income.

You can learn more about how crypto taxes work in our guide to crypto tax in Canada.

Bottom line

Keep in mind that buying Tether can be risky. But if you decide to invest in Tether, look for a regulated crypto exchange in Canada that supports USDT, and make sure to store your crypto securely.

Once you've bought Tether, think about your short and long-term goals. Crypto markets can be very volatile, so keep an eye on Tether's price over time to decide whether to keep it on an exchange, sell it or move it to your wallet.

Frequently asked questions about buying Tether in Canada

• How do I buy Tether instantly?

  You can quickly purchase Tether on trading platforms like Kraken or Paybis. If you already have a funded account with an exchange like this, then you can buy Tether instantly.

  Otherwise, many crypto exchanges also offer an "instant buy" feature using a credit card. However, be warned that this comes with higher fees and other added risks. Use our list of exchanges to look for a platform that offers various types of deposits to get started.

• What is Tether worth today?

  Tether is currently worth $1.00 USD today. For some context, it was worth -0.09% less a year ago.

• How are crypto exchanges regulated in Canada?

  Crypto exchanges operating in Canada are required to register with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). This agency safeguards the Canadian financial system by working to prevent money laundering, terrorist financing, and other financial crimes.

  Many crypto trading platforms in Canada have taken the added step of registering with the Canadian Securities Administrators (CSA), which creates and enforces policies designed to help protect investors from unfair and fraudulent market activity.

  Exchanges that are registered with the CSA and FINTRAC are:

  • Subject to federal regulation and laws
  • More likely to offer regional customer support
  • More likely to support CAD transactions and local payment methods like EFTs and bank transfers