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How to buy, sell & trade Tether (USDT)

A beginner's guide to buying and selling USDT in Singapore.

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Tether, otherwise known as USDT, is a cryptocurrency built on the Bitcoin blockchain (via Omni Layer) 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 by a 1:1 ratio by US dollars. Buying USDT is easy through a variety of exchanges, so we’ve compared 20+ to help you find the right fit.

Where to buy USDT

Tether is widely accepted throughout the cryptocurrency world. You can find it on almost every exchange and buy it with almost every other cryptocurrency or fiat currency. Compare exchanges by deposit method and cryptocurrency support to find the right fit:

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Zipmex Cryptocurrency Exchange
Bank transfer, Cryptocurrency
USD, SGD

21
cryptocurrencies

Finder exclusive: Sign up with code FINDER and complete KYC within 7 days for a SGD 15 reward. Valid till 31 October 2021. T&Cs apply.
Buy and sell 20+ cryptocurrencies and earn interest on your holdings with this Singapore-based exchange.
AAX Cryptocurrency Exchange
AAX Cryptocurrency Exchange
Alipay, Bank transfer, Cash, Neteller, PayPal, Qiwi, SWIFT, WeChat, Western Union, UPI, IMPS, Paytm, Faster Payments (FPS), PayNow, Swish, Payme
AUD, CAD, CNH, CHF, EUR, GBP, HKD, NZD, SGD, USD

110
cryptocurrencies

Make fast transactions including spot, futures and P2P trading with this cryptocurrency exchange.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

148
cryptocurrencies

Buy 100+ cryptocurrencies, earn up to 14.5% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Tokenize Xchange
Tokenize Xchange
Bank transfer, Xfers
SGD

66
cryptocurrencies

FINDER EXCLUSIVE: Get 2 TKX when you sign up and deposit a minimum of 500 SGD. T&Cs apply.
Trade 70+ cryptocurrencies with SGD and earn interest by staking coins on this robust platform.
FTX Cryptocurrency Exchange
FTX Cryptocurrency Exchange
Credit card, Wire transfer, Silvergate Exchange Network (SEN), Signature SIGNET
USD,EUR,GBP,AUD,HKD,SGD,TRY,ZAR,CAD,CHF,BRL

69
cryptocurrencies

FTX is an exchange built by traders for traders, with a range of derivatives markets such as options and futures with deep leverage, in addition to standard spot markets. Note: Not available for US customers.
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

434
cryptocurrencies

Finder exclusive: Sign up and use code 1xf56 for one month of VIP 1 benefits. Deposit/transfer more than 0.1 BTC to KuCoin within 7 days of registration for 1 month of VIP 2 benefits. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Bittrex Global
Bank transfer, Credit card, Cryptocurrency, Debit card
USD

280
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
Paybis Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Neteller, Skrill, Apple Pay
EUR, GBP, USD, AUD, CAD, PHP, SGD, CHF, HKD, JPY & 30+ more

32
cryptocurrencies

Buy Bitcoin and other popular cryptocurrencies with credit card or debit card on this digital cryptocurrency exchange.

US residents: Restricted in the following states - NY, CT, NM, WA, HI, AL, VT, FL, AK, NV.
OKEx Cryptocurrency Exchange
Bank transfer, Cryptocurrency, iDEAL, PayPal, POLi, SEPA, Faster Payments (FPS)
USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP & 20+ more

271
cryptocurrencies

Promo: Earn US$10 in BTC when you refer a friend and they purchase $100 of cryptocurrency. T&Cs apply.
Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
CEX.IO Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, SWIFT, SEPA, Faster Payments (FPS)
USD, EUR, GBP, RUB

22
cryptocurrencies

Disclaimer: Highly volatile investment product. Your capital is at risk.
Use your USD, EUR or RUB to buy and sell cryptocurrency at competitive exchange rates and with high maximums for verified accounts.
Bitfinex Professional Trading Exchange
Credit card, Cryptocurrency, Bank Wire
USD, EUR, GBP, JPY

168
cryptocurrencies

Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
Paxful P2P Cryptocurrency Marketplace
Bank transfer, Cash, Cryptocurrency, PayPal, Credit or Debit Card, Payoneer
DZD, XCD, ARS, AMD, AWG, AUD, AZN, BSD, BHD, BDT & 140+ more

3
cryptocurrencies

Connect with bitcoin buyers and sellers through this peer-to-peer marketplace that accepts cash, credit and more than 300 other payment methods.
Liquid Cryptocurrency Exchange & Margin Trading
Bank transfer, SEPA
USD, JPY, EUR, SGD, AUD, HKD

127
cryptocurrencies

Promo: Get 10% off your trading fees. T&Cs apply.
Disclaimer: Highly volatile investment product. Your capital is at risk.
Liquid is a unified, globally-sourced trading platform that bridges the worlds of fiat and crypto.
Coinbase Digital Currency Exchange
Bank transfer (ACH), Credit card, Debit card, PayPal, Bank transfer (SEPA)
USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN & 10+ more

73
cryptocurrencies

Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
eToroX Cryptocurrency Exchange
Cryptocurrency
CADX, AUDX, EURX, NZDX, GBPX, CHFX

32
cryptocurrencies

Trade cryptocurrency to cryptocurrency on eToroX, an exchange arm of the popular eToro trading platform.
Coinbase Pro
Bank transfer, Cryptocurrency, Debit card, PayPal, Wire transfer
USD, EUR, GBP

80
cryptocurrencies

Formerly known as GDAX, Coinbase Pro is a US-based exchange which offers fiat currency payment options, including wire transfer, ACH bank transfer and SEPA.
Bitstamp Cryptocurrency Exchange
Bank transfer, Cryptocurrency, Credit or Debit Card, SEPA, Faster Payments (FPS)
USD, EUR, GBP

33
cryptocurrencies

A global cryptocurrency exchange that facilitates crypto to fiat transactions, where you can use EUR or USD to buy bitcoin and popular altcoins.
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Compare up to 4 providers

A step-by-step guide to buying USDT

Here’s how to buy Tether (USDT):

Step 1. Create an account at an exchange listing USDT

Look for an exchange that lists USDT in one or more currency pairings, and sign up with your email address and a password. Compare exchanges when buying USDT to find the lowest fees and freshest exchange rates.

  • Note: Many exchanges also require your full name, contact information and proof of ID before allowing you to trade.

Step 2. Deposit funds into your account

If your exchange supports Tether you’ll be able to buy USDT directly with SGD. Some exchanges charge varying fees depending on the amount of USDT you’re buying, so pay attention to the cost of your transaction.

  • Note: Some payment methods have higher fees, with credit card payments usually being the most expensive.

Step 3. Buy USDT

Navigate to the markets section on your chosen exchange to find your desired USDT pairing. Look for the section on buying USDT, and type in the amount of the paired cryptocurrency you want to spend or the amount of USDT you want to buy.

  • Note: Carefully review your transaction details — including the amount of USDT you’re buying and the total cost of the purchase — before completing the transaction.

How to sell USDT

The process is similar to step 3 above, except you would opt for the option that allowed you to sell USDT or buy the cryptocurrency or fiat currency you want to exchange it with.

Which wallets can I use to hold USDT?

There are different types of Tethers, each requiring a different type of wallet. Sending the wrong type of Tethers to the wrong kind of wallet will result in a loss of funds.

Read our guide on Tether wallets to see what each type of Tether is, how to find out which type you have and how to choose the right wallet.

What are the uses of USDT?

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. Some of the largest cryptocurrency exchanges, such as HitBTC and Poloniex, have already integrated USDT into their systems and use it as one of their primary cryptocurrencies; USDT has several pairings, meaning that it can be used to purchase several other cryptocurrencies.

USDT was conceived 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 using cryptocurrency processes while enabling them to settle fiat balances between exchanges. This means that companies can exchange cryptocurrency funds faster, bypassing the process of converting in and out fiat currencies through the banking system.

Additionally, in January 2018, Tether Limited issued USDT and EURT as Ethereum-based tokens compatible with the ERC20 standard. This innovation was designed to give the new Tether faster confirmation time and lower network fees.

Tether currencies and fiat currencies

Tether currencies are often denoted by the ₮ symbol; for example, USDT can be signified as USD₮ and Tether EUR (EURT) can also be signified as EUR₮. Tether Limited states that to keep the Tether pegged to fiat currencies, the balance of fiat currencies held in its reserves will be equal to or greater than the Tethers in circulation. This is called a proof-of-reserve process.

To find out more about USDT, check out our introductory guide.

What should I consider if I want to buy USDT?

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:

  • USDT use. USDT is mostly used on cryptocurrency exchanges to trade and buy other cryptocurrencies, but the company behind Tether hopes to make USDT the virtual equivalent of USD.
  • Availability. USDT is available on several crypto exchanges and can be bought with fiat currencies directly or even through a credit card.
  • Risk. In its white paper, the Tether company claims there are several risks involved in the use of USDT. For example, the company could go bankrupt, its funds could be frozen or its bank could go bankrupt. If this happens, USDT could become useless, as there might be no fiat currency backing their value.
  • ERC20 compatibility. In January 2018, USDT was issued by Tether Limited as an Ethereum-based token, which means it is compatible with the ERC20 standard and can be stored in wallets that support this.
  • USDT stolen from Tether. In November 2017, more than 30 million tokens were stolen from the official Tether Treasury wallet.
  • Bitfinex and Tether controversy.Tether Limited, the company that created USDT, is allegedly closely affiliated with the Bitfinex exchange. While Tether Limited claims that Tethers in circulation are 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.
  • Market competition. There are other cryptocurrencies pegged to the US dollar in one way or another. The most popular of them are Steem Dollar, NuBits and BitUSD.

Once you have considered these factors and used this as a starting point for your own research, you’ll be able to make a more informed decision about buying USDT.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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