Buying Tether has been possible since 2014. Launched by Tether Limited in Hong Kong, Tether is often referred to in the jargon as a “stablecoin”, a particularly stable cryptocurrency.
The price of Tether hardly fluctuates at all and is therefore hardly suitable as an investment object for financial speculation. Tether is “not a financial instrument”, the company explains on its homepage.
Buying Tether is not for speculators: We at Kryptoszene.de now explain the easiest way to buy Tether, as a stablecoin. Before doing so, however, you should ask yourself the following questions:
Buy Tether UK: There are many platforms where you can buy Tether. We focus on the strongest two: these are Kraken and Binance. Buy Tether with Binance: Simple and fast If you already own Bitcoin or Ether, you can simply transfer them from your wallet to Binance. We'll show you the fastest way to get Tether below:
How to buy Tether at Binance: First create an account via this link. After you have entered your data, you will receive an activation link by email. Activate your account via the link in the email. Read through the security instructions at your leisure and confirm them in turn by placing a tick next to them on the right. If you wish, you can now set up 2FA, the two-factor authentication, to better protect your account. This option is also available to you later. Verification is not necessary with Binance. Buying Bitcoins without verification is also possible with Binance.u003cimg style=width: 100px; src=https://goldreward.io/wp-content/uploads/2021/06/atm-2.png alt=u003e
Now transfer an amount of ETH or BTC from your wallet or eToro account to Binance. To do this, go to Binance and click on Funds u003e Deposits in the header. Select your currency. You will then receive an address to which you can deposit your coins. Copy it to your clipboard or use the QR code via the app. Send your coins to this address. Waiting times of 30 minutes and more are not unusual. So don't expect your transfer to arrive on Binance immediately. You can track the progress of your transfer under Order Management u003e Order History. Tip 1: Transfers in Ether are usually faster than those in Bitcoin. In addition, the transfer fees for Ether are significantly cheaper. Tip 2: We recommend that you only transfer a small amount at first. When the amount arrives and you can be sure that everything works as desired, you can transfer your full desired amount.u003cimg style=width: 100px; src=https://goldreward.io/wp-content/uploads/2021/06/savings.png alt=u003e
After your transfer has arrived at Binance, you can now start the exchange. To do this, click on Exchange u003e Basic in the header. Then click on USDT in the top right-hand corner. Now enter the abbreviation for the cryptocurrency you transferred to Binance in the search mask (BTC or ETH). The corresponding currency pair will then be displayed (e.g. BTC/USDT). Now click on the currency pair. After you have clicked on the currency pair, two input screens for buying and selling BTC or ETH appear below the chart. To buy Tether, you need to sell your cryptocurrency. To do so, enter the desired amount in the sell mask. If you wish, you can set the tether price at which you want to sell your currency. To do this, click on Limit above the input mask and enter the price you want to achieve in the input mask. Then click on Sell. As soon as the market value you have set is reached, your cryptocurrency is automatically exchanged for Tether. Alternatively, you can use the current market price. Instead of clicking on Limit, click on Market and then on Sell. Your tether should then appear in your balance within a few minutes. Tips Tip 1: Buying Tether is particularly cheap at Binance: Binance charges a small fee for trading between different cryptocurrencies. If you purchase a small amount of Binance's own currency BNB and check the Pay transaction fees in BNB box in your profile, Binance will give you a 25% discount on these fees. Tip 2: To exchange your Tether back into BTC or ETH, simply follow steps 1-3 again and this time use the Buy input screen instead of the Sell box.u003cimg style=width: 100px; src=https://goldreward.io/wp-content/uploads/2021/06/exchange.png alt=u003e
Buy Tether on Kraken, this is how it works: Due to the regulations of the German legislator, the verification required on Kraken is relatively complicated for customers with German citizenship and usually requires several weeks of patience. Therefore, Kraken is our only choice for buying Tether in UK.
We will guide you through the process in five steps:
Visit the page and create an account via this link. After you have entered your data, you will receive an activation link by email.
Activate your account via the link in the email or use the activation code that was also sent to you by copying it and pasting it into the form at www.kraken.com/activate-account. Then log in to your new Kraken account.
Tip: If you want, you can strengthen the security of your account even more by using the 2FA option (two-factor authentication). After you have logged in, click on your profile name in the top right-hand corner and select “Security”. Here you can activate the 2FA for various processes.
Now verify your account via the Account > Get Verified tab in the header of the Kraken homepage (image 2). Scroll down the page to find the input fields. Follow the simple instructions and verify yourself for “Tier 1” and “Tier 2”.
Buy Tether UK: If you live in UK, you also need Tier 3 verification. Only then can you transfer fiat currencies from your bank account to your Kraken profile.
To verify for Tier 3, you need to prepare three documents. The verification for “Tier 3” is comparatively complex, but necessary if you want to trade fiat currencies on Kraken. The following documents are required for verification:
To identify yourself, you must first scan or photograph one of the following documents. Please note that you only need one of the three documents – the choice is yours:
Your scan must meet the following requirements:
Here you can find examples of proper recordings.
Next, you have to prove your residence. The following documents are possible (again, one of the listed documents is sufficient):
Your name and address must be clearly written on the document. The document must not be older than three months.
Finally, you need a photograph that clearly shows you. The easiest way to do this is to use the selfie camera on your smartphone or the self-timer on your camera.
In the photo you must also hold two documents in front of you: 1.) The identification document used (see “First file”), 2.) A piece of paper.
The following words must be written in handwriting on the paper: “only for trading digital currency on www.kraken.com”.
When taking photos, make sure that the documents do not cover your face and deactivate the flash on your smartphone or camera to avoid reflections.
Upload the three documents to the site using the function provided. Then you have to wait: It usually takes 4-6 weeks for Kraken to confirm your verification. With a lot of luck, it can also be quicker.
After Kraken has confirmed your verification, you can now transfer money to your account. To do so, go to Account > Funding > Deposit, click on “Euro (EUR)” and choose how you want to make your transfer (image 3). A SEPA transfer usually takes one to two days to process.
After your money has arrived on the Kraken account, you can now exchange it for cryptocurrencies. Proceed as follows:
Click on Account > Trade > New Order.
Here you select the desired currency pair. The currency pair shows which currency you are buying with which currency. For example, if you select BTC/EUR, it means that you want to buy BTC and pay with EUR. Since you want to buy Tether, you select TUSD/USD.
Now fill in the input mask by specifying how much Tether you want to buy and then click on “Buy”. If you wish, you can use the “Limit” option to set a price at which Tether should be purchased. Kraken will only complete the purchase when your desired price corresponds to the market price. If the price is not reached, your order will be automatically deleted after some time. Don’t worry: you won’t lose anything as a result.
If you do not want to use the “Limit” order, select “Market” instead. This option allows you to buy Tether instantly at the current market price. After you have clicked on “Buy”, your tether should arrive in your account within a few minutes. Under “Balances” you can see which currencies you have in your Kraken account.
Tip: You can easily keep track of the progress of your buy or sell orders under “Orders”.
In the following, we look for possible alternatives that are suitable for trading with Tether. The platform Changelly, for example, offers the possibility to buy Bitcoin via a credit card.
In the following, we look for possible alternatives that are suitable for trading with Tether. The Changelly platform, for example, offers the possibility to buy Bitcoin via a credit card. You can then exchange your Bitcoin for Tether on Changelly. Other coins can also be traded against each other very quickly and easily on this platform. Changelly is a good alternative to Binance for buying Tether, but also in general. Buying Tether directly with a credit card is not possible, but it is not difficult via the small diversions.
Now we show the fees when buying Tether on Binance:
Here are the fees that Libertex charges:
|Deposit||free of charge|
|Purchase fees||free of charge|
|Holding fees||free of charge|
|Payment||free of charge|
Tether Limited promises that each unit of Tether is backed by one real US dollar held in reserve by the company.
This is to ensure that 1 tether always equals the target value of 1 dollar.
Admittedly, Tether regularly deviates from this target value by 1-5 cents in both directions. On 15 October 2018, Tether even collapsed to 90 cents.
On the whole, however, the token has so far delivered what it promises in practice. The strong price fluctuations typical for Bitcoin, Ethereum and most other cryptocurrencies do not apply to Tether.
Tether is therefore not a means of payment, but a token that can be exchanged free of charge (only the platform on which you trade usually charges a fee). Sending Tether tokens between two wallets is also completely free of charge.
Tether is not only directly linked to the US dollar (USD₮), but also to the euro (EUR₮) and the Japanese yen (JPY).
Tether connects to the Bitcoin blockchain using the Omni protocol, and to the Ethereum blockchain via ERC-20, enabling particularly fast and easy exchanges between these currencies.
Due to its characteristics, Tether is particularly interesting for investors who trade their investment regularly and are looking for an easy way to flexibly pull it out of the market and put it back in. This can be an extremely clever move.
For example, if you have already invested in Ethereum, Bitcoin or another cryptocurrency and want to avoid a particularly volatile period, it may help to temporarily swap your investment into Tether Tokens. With Tether, this is inexpensive, very secure, fast and uncomplicated.
If you were to exchange into fiat currencies instead, there would be waiting times and your ability to act would be significantly limited. Especially for day traders, Tether can be an incredibly valuable tool. Since Binance has no holding fees, it is the perfect trading venue.
However, we note that critics have been accusing Tether Limited of deliberate price manipulation for months.
This accusation is currently also being addressed by the US derivatives regulator (CFTC). Despite this news, Tether is the world’s second most traded cryptocurrency after Bitcoin, according to Coinmarketcap.
This makes Tether the largest crypto currency worldwide. If the accusations are confirmed, the entire market will face a crisis that is difficult to calculate.
Whether the less than transparent company Tether Limited will survive the investigations unscathed is still up in the air at the moment. Whether the reserves really exist in the stated amount and where they are actually stored is not known to us.
What risk it currently means for you to buy Tether tokens therefore depends very much on your behaviour. If you use Tether as described to keep the volatility of your crypto investments as low as possible, you are probably not taking too much of a risk at the moment. After all, it will be some time before the investigations lead to results.
However, we do not recommend holding larger sums in Tether Tokens for a longer period of time for precisely this reason. In your own interest, please inform yourself in detail about possible risks before buying. In the event of damage, no one will reimburse you for your loss.
They exist! To offer Tether sceptics an alternative, the stablecoin TrueUSD (TUSD) was launched this year. This is also pegged to the dollar and creates a dollar reserve for each token. Unlike Tether, however, TrueUSD offers complete transparency.
You can already trade TrueUSD on Bittrex, Binance and many other platforms. Other alternative stablecoins are the much smaller MakerDAO (DAI) and BitCNY.
Buy Tether with a credit card? That only works indirectly. As just shown, you can purchase Tether with your credit card on the Changelly platform via a diversion.
Although Tether cannot be bought directly with a credit card, you can buy Bitcoin, Ethereum or one of the other offered coins and then exchange them for Tether on the platform.
Coinbase is also a popular exchange platform for online currencies. The platform also offers several other services in the field of digital coins.
Similar to Changelly or Binance, you can buy Bitcoin with your credit card and then exchange it for Tether. Or you can transfer your Bitcoin to your Binance or Changelly account, for example, and exchange it for Tether there.
Coinbase requires verification during the registration process, which usually takes place within a few hours. You will need an identification document for this: your ID card, driving licence or passport.
Buy Tether with Paypal? Unfortunately, this is not directly possible. Paypal is a widespread payment method on crypto exchanges.
But buying tether with Paypal is not usually offered by even the biggest providers.
Unfortunately, this also applies to smaller platforms.
Why buy Tether with Paypal?
Sofortüberweisung is a product of the Swedish group Klarna and a payment option widely used on the Internet. As such, you have certainly come across it a time or two. It delivers what the name promises: the immediate transfer to the merchant or service provider of your choice.
A prerequisite for their use is access to online banking at your bank. Also have your individual account information ready. Follow the simple instructions and enter your account number or username and your PIN for online banking in the prompt. You will need a TAN to complete the transaction.
This prevents phishing and other misuse of your account information. Many exchange platforms now offer the instant transfer option on their platforms.
For example, CFD brokers offer this payment option. Buying Tether with Sofortüberweisung is not possible directly. Instead, buy some Bitcoin or Ether via Sofortüberweisung, then transfer your cryptocurrency to Binance and exchange it for Tether there.
Experienced investors get an overview of the advantages and disadvantages of an asset before they buy it. Even if you are a beginner, you should start to gain a deeper knowledge of the different coins to reduce your investment risk and understand the benefits of investing.
This is particularly true for Tether. Tether is a stablecoin and therefore not very suitable as an investment: 1 Tether always equals 1 dollar (apart from small deviations). This means that an investment here is not worthwhile insofar as a profit is not to be expected due to price developments.
The question is therefore not whether you should invest in Tether or not – but whether Tether is useful as a tool for your trading strategy. It depends on how regularly you trade. If you move your assets daily or at least regularly, Tether can help you a lot.
With the help of Tether, you can pull your investments out of the market during particularly volatile phases and then easily put them back in again. In this respect, Tether gives you the greatest possible degree of flexibility.
However, as Hong Kong-based Tether Limited is currently under investigation by the US derivatives regulator and serious allegations have been made against Tether, it is important to act with caution. You might be better off with the still young alternative TrueUSD. TrueUSD is also a stablecoin and offers you the same advantages as Tether. Many broking platforms already support the new token.
As a general rule, a wallet is always the safest place to hold your investments. If your coins and tokens are stored at a crypto exchange instead, you may lose access to them – for example, if the exchange unexpectedly files for insolvency.
The use of a wallet is not necessarily more complicated than the handling of the common exchange platforms. A wallet is therefore recommended in any case. However, the use of a wallet is not mandatory for trading with Tether tokens. If you are not afraid, you can simply hold your Tether on the account of one of your exchange platforms.
Tether wallets are available for Android and iOS. The particularly secure hardware wallets from TREZOR and Ledger also offer integration. Because Tether comes in two technically different forms, the first thing to do is to find out which one you have. On the one hand, Tether exists as a token based on the Bitcoin blockchain.
These are also called Omni Layer tokens. The other variant is based on Ethereum’s ERC-20 standard. Depending on whether you purchased Tether with Bitcoin or Ethereum, you will have one of these two variants.
To be completely sure, check the public key of your Tether supplies. If it starts with “0x”, it is the ERC-20 type, which is based on the Ethereum blockchain. If, on the other hand, it begins with “bc1”, it is the Omni Layer type, which is based on the Bitcoin blockchain.
Caution: If your tokens do not fit into the wallet of your choice, you may lose money. To be on the safe side, we recommend that you first transfer only a small amount to your wallet as a test. If the transfer was successful, you can be sure that you did everything right. The most widely used and reliable wallet for the ERC-20 standard is the wallet from myetherwallet.com. As a tether wallet for the Omni Layer standard, we recommend the so-called Omni-Wallet.
You can buy Tether for real money on the exchange platform Kraken. However, you have to be prepared for longer waiting times until your account is verified by the provider and you can deposit real money via SEPA transfer. If you want to do it quickly, it's a good idea to buy Bitcoin or Ether first and then exchange them for Tether via Binance, for example. We have summarised how this works step by step for you above.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/income-3.png alt= style=width: 100px;u003e
Yes, you can't buy Tether directly with your credit card, but you can buy Bitcoin or Ether with your credit card on our test winner, Binance or another platform and then exchange them for Tether on Binance, for example.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/cvv-1.png alt= style=width: 100px;u003e
Again, no. Only eToro and Plus500 offer Paypal as a payment method.Paypal's buyer protection obliges the company to refund the amounts in special cases. Since transactions with cryptocurrencies can only be traced by third parties to a limited extent, Paypal deliberately stays out of the market. However, you cannot buy Tether directly on eToro. Instead, buy Bitcoin or Ether, transfer them to Binance, for example, and exchange them for Tether there.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/transfer.png alt= style=width: 100px;u003e
Definitely no. Tether is a stablecoin and is designed so that the value always remains the same.If all goes well, 1 USDT always equals 1 USD. However, small deviations from this rule occur regularly. However, Tether is by no means suitable as an investment.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/profit.png alt= style=width: 100px;u003e
If you trade regularly, Tether can help you avoid particularly volatile periods. You can swap your investment into Tether at any time, giving you extra flexibility. When you switch your investment into Tether, you preserve its value. If the market drops, this can help you to save your profits.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/strategy-1.png alt= style=width: 100px;u003e
Not mandatory, but a wallet is always the safest way to store cryptocurrencies or tokens. Since you are not investing in Tether for the long term, but are likely to use it only for short distances, a wallet is not mandatory. You can also trade Tether without a wallet via exchanges such as Binance or Kraken.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/wallet-1.png alt= style=width: 100px;u003e
It depends on whether the wallet supports tether. This is the case for the TREZOR and Ledger hardware wallets. If you use a different hardware wallet, you should ask your provider.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/money.png alt= style=width: 100px;u003e