Tether (USDT) for Crypto Deposits

Tether (USDT)USDT is one of the most commonly used stablecoins for transfers & deposits to crypto exchanges and platforms.

The biggest problems for USDT transfers can be the high transaction fees, that can be avoided if using the right blockchain.

While most crypto platforms only support Tether transactions with the ERC-20 network on Ethereum blockchain, instead of using a crypto exchange supporting Tether transfers with Tron blockchain. That can save around 96-96% in transaction costs, making your USDT transfer way more affordable. So use Tron (TRX) blockchain next time you do a Tether transfer, assuming that both the sending and receiving wallet support transactions with TRX.

The Tether is currently ranked as the third-largest cryptocurrency by market cap, after Bitcoin and Ethereum. Being such an important cryptocurrency, it is featured on lots of crypto exchanges around the world. You can get started with this deposit method by signing up for an account on one of the crypto sites below.

Top 19 sites for buying, selling and trading crypto with Tether (USDT)

This is the toplist with the best sites to buy, sell or trade cryptocurrencies through an USDT transfer. To learn more why a certain site is ranked the way it is, you can read our review by clicking the review button. We generally recommend using an exchange or platform with good track record, great reputation and positive feedback from its customers. The better option for you as customer, the better ranking we give them.

Coinbase Pro
A more complex crypto exchange for advanced users. Generally better exchange rates than the normal Coinbase app.
Gemeni
Buy Bitcoin and crypto instantly with Gemini.
Paxful
Paxful got over 350 different deposit methods in order to get started with crypto investing.
Biswap DEX
The lowest trading fee among Decentralized Exchanges, only 0.1%.

9.43

FTX
Trade With FTX Anywhere & Anytime.
KuCoin
One of the exchanges available in most places around the world, with among the lowest fees and among the best compatibility for transfers between various blockchains.
Local Bitcoins
Buy bitcoin locally, with almost any deposit method. Local Bitcoins make crypto investment easy.
Mdex
A DEX that supports both BSC, ETH and Heco.
mdex.com
DEX

9.11

Crypto.com App
Making crypto trading, staking and investing simple. Directly from an app.
Swissborg
Swissborg offers flexible staking yields, from a crypto platform with European license.
Coinbase App
Buy and sell cryptocurrencies easily. Coinbase App is where you can go.
Bitget
One of the world’s largest cryptocurrency copy trading platforms.
Crypto.com Exchange
Trade over 200 crypto pairs from one of the leading exchanges. They also got their own debit card for all users.
Bithoven
Bithoven support instant transfers, but is not user-friendly.

4.38

Gate
Gate IO can be your gateway to everything related to crypto – with over 1400 cryptocurrencies to trade in a safe, quick and easy manner.
Poloniex
A very professional crypto exchange more targeted to advanced traders. Good reputation and big variety of coins and tokens.
StormGain
Try a better crypto exchange. Discover StormGain, you too!
DexTrade

8.57

Binance
Largest on crypto. Over 200 cryptocurrencies to trade, both currency exchange with a wallet, CFD trading, staking and much more.

Here are the best crypto exchanges, platforms and brokers offering funding with Tether.

Summary

USDT gained popularity because it offers the benefits of Blockchain technology and still avoids the volatility of regular cryptocurrencies. It is also among the oldest cryptocurrencies in existence and has significantly helped with the growth of the crypto sector. Tether does not charge users any transaction fees, but you will have to cover the gas fees of the respective blockchains. Also, you may have to pay a fee to the crypto exchanges.

Advantages

Advantage - logo+Its value is stable, so you don’t need to worry about volatility.
+Its transfer fees can be very low.
+It helps you maintain high levels of anonymity when buying cryptocurrencies.
+It makes it easier to process international payments.

Disadvantages

disadvantage logo-The transactions are completed in minutes, which is quite slow.
-The cryptocurrency is still highly controversial.
-You can’t mine the cryptocurrency.
-It is a centralized cryptocurrency and can blacklist users.
-Newbies can be vulnerable to security risks.

What is USDT?

Tether is classified as a stablecoin since its price is always maintained at 1 USD. The company is able to maintain this price because every Tether coin is backed by actual US dollar reserves. Whenever withdrawals are made, USDT coins are burned as well, thus ensuring that the price does not change. Because of the high market cap of the coin, there are now many crypto sites that accept USDT. It is worth noting that the coin uses several blockchains, including Bitcoin and Ethereum. The transfer speeds and transaction costs will vary depending on the blockchain you use.

USDT Costs

The fees for USDT deposits will vary depending on the blockchain you are using. For example, when using the cryptocurrency on the Ethereum blockchain, you will have to pay the ETH gas fees, which usually amount to about $15. If you choose to transfer the funds on the Algorand blockchain, you will have to pay a fee of about 1000 microAlgos. This is equal to about 0.0007 USD. You should note that Tether itself does not charge any fees for the payments. When making USDT payments, you also need to consider the fees charged by the crypto exchange.

Transaction speed for USDT

Since Tether uses the infrastructure of other cryptocurrencies, its transaction time will vary depending on the blockchain you use. For example, with the Bitcoin infrastructure, the transactions will usually be confirmed within 60 minutes. With Ethereum, USDT payments will typically be completed within six minutes. USDT deposits are generally considered fast, especially in comparison to regular fiat currency transfers.

USDT Deposits: How to do it?

1. You can start by logging into your account on the crypto exchange.
2. Then you can navigate to the payment section, where you will pick Tether from the available deposit options.
3. From there, you can enter the amount you want to deposit.
4. To complete the transaction, you can verify your crypto wallet account.

Which are the main countries where USDT is used?

Although this deposit method is quite controversial, it is still extremely popular in the USA and Australia. Canada recently banned local crypto exchanges from trading in this cryptocurrency, particularly because its mode of operation is unclear. However, it is not exactly illegal to use Tether in the country. Some places where the stablecoin is completely illegal include China, Iraq, Egypt, and Qatar.

Can you withdraw with USDT?

You can use this stablecoin to make withdrawals from your crypto exchange account. In order to make the withdrawals, you will usually need to add the destination address and whitelist it. You can check the terms and conditions of the platform to determine the withdrawal fees.

Reputation of USDT

Tether is respected as one of the most important cryptocurrencies. It is especially useful since it maintains its value at about 1 USD, and this allows investors to avoid the price volatility of other cryptocurrencies. While many crypto enthusiasts appreciate this stablecoin, lots of people are concerned about the shady nature of the company. It is still not certain whether each USDT is backed by actual US dollars, and the company has been hacked several times. You can follow discussions on the cryptocurrency on platforms like Reddit and Twitter.

FAQ

Here are some of the most commonly asked questions about Tether (USD), when used for transfers between wallets or as deposits for a new crypto account opening. Have you got any additional query? Don’t hesitate to contact us.

Is it safe to use USDT for crypto transfers?
Yes, it is safe to use this stablecoin when funding your account. Since its price doesn’t change, you will not risk losing a large percentage of your portfolio by holding this altcoin. You should just make sure you secure your crypto wallet to prevent criminals from accessing your assets.

How do I set up USDT?
In order to set up your USDT wallet, you will have to first add your personal information. You should also verify your details and identity. Once that is done, you will need to purchase USDT from a crypto exchange.

Is USDT transfers instant?
USDT payments are not instant, but they can be fairly fast. Depending on the blockchain you use, the transactions should be completed within a few seconds to a few hours. You should note that the number of pending transactions will also determine the speed of the payments.

Which blockchain offers the cheapest USDT transfers?
The both cheapest and most commonly used blockchain for cheap USDT transfers is TRX aka Tron Blockchain (TRC20). Crypto sites such as Kucoin (review) and Gate.io (review) supports Tron and the average transfer cost is about 1 USDT. Not bad right?

The most used blockchain for USDT transfers is the ETH (ERC20) blockchain. While most sites, both platforms, exchanges and DEX support this network, it is not very wise to use from an economical point of view. One USDT transaction with ETH blockchain costs about 20-35 USDT.

Kucoin’s own blockchain; Kucoin Community Chain or KCC can not be used at the moment for USDT transfers. Otherwise, a transfer there would cost 0.5 USDT and would be the cheapest possible method for USDT transactions.

Algorand (ALGO) blockchain offer USDT transfers for 0.1 USDT, so it’s lower than TRON, but not available on so many exchanges.

EOS blockchain got the same price as TRON on Kucoin, but with slightly less crypto sites accepting USDT transfers with the EOS network. So if the receiving wallet accept EOS, it’s a great choice – for only 1 USDT.

Which blockchain offers the festest transfers for Tether?
Tron is our choice for fast USDT transfers, while EOS also got some respectable transfer speed. For ERC20 (ETH blockchain), it depends on the amount of transfers at the moment.

When was USDT founded?
This stablecoin was founded in mid-2014 and was initially known as Realcoin. It was rebranded as Tether in November of the same year.

Where is the mother company based?
Tether was initially based in the Isle of Man, but it was later moved to the British Virgin Islands. The company also has offices in Hong Kong.

Does USDT work for deposits on CFD brokers?
No, USDT does not work for crypto deposits on CFD brokers, but it is likely to be used in the future.

Newsflash
    Tether launching GBP-pegged stablecoin GBPT in JulyTether launching GBP-pegged stablecoin GBPT in July
    Wednesday, 22 Jun 2022 12:26 pm
    Just a few days after Circle announcing the release of EUROC, Tether counters with launching a sterling based stablecoin. Similar to USDT, the name for the upcoming release will be GBPT and it is pegged 1:1 against the...
    Read the full newsflash


    Kucoin release Luna 2.0 futures: LUNA/USDTKucoin release Luna 2.0 futures: LUNA/USDT
    Tuesday, 31 May 2022 5:45 pm
    For those into leverage trading, that is now possible with Luna 2.0 and Tether (USDT) through Kucoin (review). You can set the leverage between 1x (so no leverage) up to 20x. You can go both long and short in Luna 2.0 and if setting a take profit and stop-loss, it's simple to handle the position. Kucoin shows the amount of long and short positions, that varies constantly. While writing this - 60% are long in LUNA and 40% are short. Keen on trying? Sign-up for Kucoin today and give...
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