Tether (USDT) is a cryptocurrency with its value pegged to the US dollar. As a well-established stablecoin Tether has high levels of liquidity and is widely by crypto traders to trade against – USDT is the third largest crypto asset behind Bitcoin and Ethereum.

In this guide, we explain how to buy Tether in the UK in a fast, secure, and low-cost way. Traders tend to buy USDT as a way to sell their other crypto assets quickly into a stablecoin, without the need to withdraw their cryptocurrency from exchanges into fiat currency.

How to Buy Tether in the UK – Quick Steps

Let us begin with a quick step-by-step breakdown of how to buy Tether in the UK:

  • Step 1: Open a Crypto.com Account
    Visit the Crypto.com exchange or download the app and create a free account by filling in your personal information. This will include your full name, date of birth, email address, and phone number. Complete the verification process by providing a copy of your identity document.
  • 💳 Step 2: Deposit Funds
    Fund your Crypto.com account using a debit or credit card. You can also add money to your GBP fiat wallet on the Crypto.com app by making a bank transfer.
  • 🔎 Step 3: Search for USDT
    Next, use the search box on the Crypto.com app to find the USDT trading pair you need – BTC/USDT, ETH/USDT etc. Depending on what you want to buy USDT with – i.e. what crypto you will sell into Tether.
  • 🛒 Step 4: Buy Tether 
    Enter the size of your USDT purchase and place a buy order. You will then find the USDT coins in your Crypto.com wallet – you’ll have swapped crypto for Tether – protecting your capital from crypto market volatility, until you decide to hold BTC or altcoins again.

It only takes a few minutes to buy cryptocurrency using the Crypto.com desktop version or app. We’ll cover how to do that step by step further down in this guide.

Where to Buy Tether in the UK – Best Platforms

Given its use case, you can buy Tether on most crypto exchanges in the UK. However, providers vary in terms of the features offered, fees charged, and convenience.

We found the following platforms offer the best place to buy Tether for United Kingdom trader:

1. Crypto.com – Overall Best Place to Buy USDT in the UK

crypto.com logoCrypto.com is a trusted cryptocurrency platform that lets you buy, sell, and trade digital assets in the UK. It offers several products, including ways to earn crypto interest, Visa cards, exchange services, and more. Furthermore, you can use Crypto.com to buy Tether in the UK using multiple payment methods.

Perhaps the easiest option would be to purchase USDT directly using a debit/credit card. All you need to do is download the Crypto.com app and place a buy order on Tether by entering your card details. Alternatively, you can also top up your Crypto.com fiat wallet with pounds and use the money to buy Tether in the UK.

Crypto.com

Finally, if you already have any other digital assets stored in your Crypto.com wallet, you can also swap them for USDT currency. It is important to know that the fees you pay will vary depending on your chosen payment method. For instance, when using a debit/credit card to buy Tether, you will be charged a 2.99% flat commission.

On the other hand, when exchanging digital coins, Crypto.com follows a maker-taker pricing structure that rewards users with higher trading volumes. The fees range from 0.04% to 0.40% for makers and 0.10% to 0.40% for takers. This means that even if you are a new user on this platform, for every £100 worth of Tether that you buy, the maximum fee will come to only 40p.

Crypto.com

Moreover, you can get steep discounts by staking CRO – which is the native digital token of the Crypto.com network. The CRO token can also be used to generate a higher APY on Crypto.com’s interest accounts. This feature allows you to stake your Tether coins for a fixed or flexible amount of time to earn interest on your deposit.

For stablecoins such as Tether, Crypto.com offers an APY of up to 10%. And if you wish to move your Tether tokens to non-custodial storage, Crypto.com also offers a separate DeFi wallet. You will also have the option to buy USDT or swap these digital coins directly from this wallet.

On top of all this, Crypto.com offers one of the best crypto cards for UK users. You can use this card to make online purchases and pay using your digital currency. All in all, Crypto.com is a well-rounded platform to use for all your cryptocurrency needs in the UK.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

2. Coinbase – Buy Tether Using a Debit/Credit Card

coinbase logoCoinbase is another popular cryptocurrency platform that comes with an intuitive and easy-to-use interface. The provider takes a simple approach, making it easier for both beginners and advanced investors to navigate the platform and explore its features.

Coinbase lets you buy Tether in the UK via its web platform, as well as through its app. Like Crypto.com, Coinbase also lets you invest in this popular cryptocurrency with your debit and credit card. The transaction will be processed almost instantly, and you can get your hands on USDT tokens right away. However, Coinbase charges a hefty fee of 3.99% for debit/credit card transactions.

coinbase platform screenshot

The cheaper method would be to fund your Coinbase account with Faster Payments, which will incur no additional fees. Although there are no deposit charges, you will still have to pay a commission of 1.49% when purchasing Tether in this manner. On top of this, you can also expect a waiting period of one to three days for your Coinbase account to be credited with this amount.

Wes should note that Coinbase also has a native digital asset – the USDC token, which is another popular stablecoin. You can buy USDC via Coinbase and even earn rewards by staking this cryptocurrency on the platform. Irrespective of its high fees, Coinbase is very much preferred by beginners – as it offers plenty of educational resources to learn about the crypto space.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

3. Binance – Top Platform to Buy USDT for Advanced Investors

binance logoThe next place to consider when looking for a platform to buy Tether is Binance. This crypto platform delivers a robust selection of features and supports hundreds of digital assets. However, it is not particularly user-friendly, especially when compared to the likes of Crypto.com.

If you are thinking about how to invest in Tether in the UK using Binance, you have several ways at your disposal. You can choose to exchange any other cryptocurrency for USDT at a small fee of just 0.10% per slide. And you can reduce this fee further by holding BNB coins, the native token of the Binance ecosystem.

Binance

Binance also lets you buy USDT directly using your debit/credit card. The fees for this payment method amount to 1.8%. Additionally, the platform features a P2P marketplace, where you can purchase Tether from other traders – and the fees for this vary between 0% to 0.35%, depending on the trading pair you choose.

Finally, you can also top up your Binance wallet with pounds and use the money to buy Tether in the UK. In addition to this, Binance also lets you stake Tether on the platform and earn up to 10% APY. The interest rate you receive will depend on factors such as your lock-in period and the number of USDT coins you put up.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

What is Tether?

Tether is the most popular stablecoin today – USD Coin (USDC) is not far behind in market cap, currently #4 in market capitalization behind BTC, ETH, and USDT.

This stable digital currency was launched in 2014 and is considered the world’s first stablecoin. Unlike the majority of other cryptocurrencies, the price of Tether does not fluctuate every second.

Instead, the value of Tether is anchored to that of the US dollar. This is possible because Tether is backed by its founding company’s assets and reserves. As per its latest report, these assets include cash, corporate bonds, commercial paper, secured loans, and other investments.

Recently TerraUSD (UST) lost its peg to the dollar and crashed alongside LUNA, although USDT is considered safe as it is not an algorithmic stablecoin.

Tether

Tether was originally created as a way to bridge the gap between fiat and crypto markets. The USDT token was less volatile and addressed the issue of convertibility between fiat currencies and digital assets. As such, Tether made it easy for traders to speculate on the crypto market.

Another important aspect of Tether is that it does not belong to one blockchain. Although it was originally created to use the Bitcoin network as its transport protocol, Tether has evolved since then. Today, USDT tokens exist on several leading blockchains – including Ethereum, Solana, Tron, and Algorand.

This makes it possible for customers to use Tether coins to transact across different blockchains. However, this also means that you need to be careful when transferring your tokens and ensure that you have chosen the correct destination address.

Is Tether a Good Investment?

Considering that the value of Tether is expected to reflect that of the US dollar, ‘investing in Tether’ isn’t the right way to phrase things. Tether operates as a way to offset volatility and has different applications in the crypto market to other coins.

For example you can also earn interest on USDT on Crypto.com, while holding it – profiting by earning yield, rather than the value of the underlying asset rising over time as with cryptocurrencies.

Here’s an overview of some of the ways to use Tether:

Less Volatile 

Cryptocurrencies are described as an asset class with wild price movements. However, that’s not typically the case with Tether. This digital asset is designed to maintain its stable value because the USDT coins are backed by Tether’s reserves.

Due to this, Tether is referred to as a ‘collateralized stablecoin’ in the crypto world.

Tether

Traders might look to buy USDT if they think the market will crash, for example, then use Tether to buy crypto when they think the market will recover and flip bullish.

However, Tether isn’t completely risk-free. On May 12, 2022, Tether dropped below its $1 peg, sinking as low as $0.95. Nevertheless, it wasn’t long before Tether recovered its 1-to-1 peg and regained its position in the market.

Multiple Use Cases

Due to its relatively non-volatile nature, Tether is also used widely across cryptocurrency platforms.

One of the most significant features of Tether is that these tokens can serve as an intermediary between fiat money and cryptocurrencies.

Therefore, you can use Tether for the following purpose:

  • Purchase cryptocurrencies: Since one USDT is theoretically equal to one USD – crypto markets often consider Tether as the ‘digital dollar.’ In other words,  Tether tokens can be a great alternative for a US dollar transaction. Therefore, many traders choose to convert their funds to Tether and store them in digital wallets  – so that they can use the USDT coins to purchase other cryptocurrencies.
  • Transferring money: Cross-border transfers can be complicated and often come with high fees. Sending even small amounts of money to another country can incur high fees when using conventional payment methods such as wire transfers. Tether can circumvent these issues by removing the need for any currency conversion and can settle the transfer in a matter of minutes.

This way, Tether offers a seamless experience for those who want to send money internationally by reducing both the cost and time.

Similarly, you can also use Tether to transfer money domestically, from one exchange to another, or to send funds to your friends. You only have to worry about the standard blockchain fee when transferring USDT from one Tether wallet to another.

Earn a High Interest Rate

You can set up an interest account for your digital assets, to generate a passive income. These essentially function like savings account for fiat currencies, but they often come with much higher interest rates.

The USDT coins you deposit will be used to give out crypto loans to other users.

Since Tether is less volatile, this digital asset is often in high demand in the cryptocurrency markets. As such, there are lending platforms, exchanges, and wallets that will pay you impressive interest rates to store USDT.

Crypto.com

For example, Crypto.com offers an APY as high as 10% for Tether interest accounts. In comparison, the same platform provides only 6% APY on Bitcoin.

Crucially, crypto interest accounts allow you to put your idle USDT tokens you use and gain extra Tether coins – all passively.

Widespread Adoption 

Tether has come a long way since its early days. Today, it is considered one of the most successful financial innovations globally. Given its popularity, USDT is utilized on almost all prominent cryptocurrency exchange to facilitate transactions.

And due to its high liquidity, Tether has also succeeded in devising partnerships with merchants across the world.

Put otherwise, it is now possible for you to pay for your online purchases via Tether. The long list of merchants that accept Tether includes travel websites, e-Commerce platforms, online grocery shops, subscription services, and more.

Redeem for Fiat Currency

If you hold Tether tokens, you can also exchange them for fiat currencies that you can withdraw to your account.

This means that in case you want to sell your USDT tokens, you can do so directly via the Tether platform. While this is certainly advantageous, the minimum deposit required is $100,000.

Binance Tether

As such, redeeming Tether via its website would be an ideal choice for those who hold large amounts of this digital asset.

However, you will have to complete a verification process which involves a fee of $150. Once the verification is complete, you will be able to redeem your Tether tokens whenever you wish.

Tether Price

As discussed, Tether is unlike other cryptocurrencies whose prices fluctuate continuously. Instead, the price of stablecoins such as Tether has always been relatively solid. That isn’t to say that Tether is not prone to any volatility at all.

Instead, like the wider crypto arena, Tether is also influenced by market forces such as supply, demand, news, and major events.

If you take a look at the Tether price action history, you will see that the USDT coin has experienced fluctuations throughout the years. However, these are minute when compared to the volatility of the general crypto market.

Tether Price Prediction

In May 2022, the crypto market for stablecoins experienced significant volatility. The popular algorithmic stablecoin, TerraUSD (USDT), lost its peg on May 12 and hasn’t recovered its value since then. In fact, at the time of writing, TerraUSD is priced at just $0.06 – $0.07.

Following this, Tether also witnessed a plunge in its value and lost its peg temporarily. However it soon regained its 1:1 value with the US dollar.

USDT price action

Nevertheless, this has instigated a general awareness that even stablecoins are not immune to volatility. Therefore, regardless of whether you choose to buy Tether crypto or any other digital asset, you should always proceed with caution.

To limit your exposure to the crypto market, you can consider diversifying your investments across different asset classes.

Ways of Buying Tether

There are several paths to choose when deciding on how to buy USDT in the UK.

If you are looking to invest in Tether instantly, you can use one of the following methods:

Buy Tether with PayPal

A number of popular cryptocurrency platforms have started accepting PayPal as a payment option.

To buy USDT using PayPal, you will first need to open an account with a suitable exchange and upload some ID. Then, you will be redirected to the PayPal website, where you can sign in to your account and approve the transfer.

Coinbase Paypal

However, the catch here is that only a few providers offer this service in the UK at the moment. One such platform is Coinbase, however, on this platform – you will have to pay fees of 3.99% when using this mode of payment.

Buy Tether with Credit Card or Debit Card

It is becoming an increasingly popular option to buy Tether in the UK using a credit/debit card. This payment method combines speed as well as convenience. And as such, the majority of crypto exchanges in the UK support this feature.

However, the downside is that there is often a high fee involved when you buy USDT using this payment method.

For instance, on Coinbase, you will have to pay 3.99%, whereas, on Crypto.com, the cost is more competitive.

In addition to this, some credit card companies might also charge you extra for processing payments on online financial platforms.

Best Tether Wallet

When learning about how to invest in Tether in the UK, you should also consider your storage options. There are different types of crypto wallets available – namely, hardware and software.

While hardware wallets are considered highly secure, software storage options are more accessible and convenient. Software wallets can be downloaded to your phone or laptop and can be used simply by signing in.

DeFi wallet

If you are searching for the best crypto wallet available in the UK for storing Tether, it would be ideal to choose a self-custodial software option, which offers both convenience as well as security.

Crypto.com features a digital wallet with excellent security features, including multi-factor authentication and address whitelisting.

Take note that this DeFi wallet is different from the Crypto.com app and is non-custodial. Meaning – you will have full control over the private key of the wallet and thus – your Tether tokens.

How to Buy USDT – Crypto.com Tutorial

In this section, you will find a detailed explanation of how to buy Tether in the UK.

This covers a step-by-step breakdown of the process using the beginner-friendly platform, Crypto.com.

Step 1: Open Crypto.com Account

The first step is to visit the Crypto.com website to create an account. As you can see in the image below, this requires you to provide your first and last name, date of birth, and nationality.

Crypto.com

You will also have to provide your email address and assign a password for your account. You can then click on the ‘Create Account’ option to proceed.

Step 2: Download the Crypto.com App

Crypto.com is a mobile-first platform. Therefore, in order to buy Tether in the UK via this provider, you will first have to download the app. To do this, you can visit the Crypto.com website and click on the download link.

Alternatively, you can also visit the app store for Android or iOS. Once you have installed the app, you can sign in using the credentials you used when creating your account.

Step 3: Upload ID

To ensure maximum security, Crypto.com must comply with the KYC regulations in the UK. This means that you have to upload a copy of your identity card – such as a passport or driver’s license to verify the details you have provided.

In addition to this, you will also have to take a selfie via the Crypto.com app.

Step 4: Search for USDT

At this stage, you have your Crypto.com account set up. Next, you can find the USDT token simply by searching for it in the app.

Step 5: Choose Payment Method and Buy Tether

Next, you can choose how you want to pay for your Tether tokens. As we noted earlier, you can buy Tether directly using a credit/debit card or by depositing pounds via a bank transfer.

Remember that the latter payment method can take a few business days for the funds to appear in your wallet.

Crypto.com

Next, enter the number of Tether coins you wish to purchase. Once the order is carried out, you can see the USDT tokens in your Crypto.com wallet.

You can then choose to exchange your Tether tokens for other digital coins or stake them on Crypto.com to earn a passive income.

How to Sell Tether

Like buying Tether, the process of selling this cryptocurrency also varies depending on your chosen platform.

  • If you have stored the Tether tokens in a private wallet, you might have to move them to a crypto exchange to cash out.
  • However, some options, such as the Crypto.com DeFi wallet, allow you to cash out your digital coins directly from the app.
  • Once your sell order is processed, your Tether tokens will be converted into pounds, and you will be at liberty to withdraw your money to your bank account or card as you wish.
  • You can also choose to exchange your Tether coins for another cryptocurrency.

With Tether, you also have the option for redemption. As we noted earlier, the company behind Tether allows you to redeem the coins in return for US dollars that will be deposited into your account.

However, you will have to pay high fees and go through a verification process to be eligible for this.

Conclusion

Tether tokens can be a gateway for those who are interested in dipping their toe in the crypto space. It allows you to enter the industry without having to go all-in on a volatile digital coin.

Moreover, you can also use USDT to transfer funds cost-effectively and make online purchases. If you are wondering where to buy Tether in the UK, one option is Crypto.com – a user-friendly platform that offers a wide range of services. Crypto.com allows you to buy Tether in the UK instantly with a debit or credit card.

crypto.com logo

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

FAQs on Buying Tether

What is Tether?

Where to buy Tether in the UK?

How to buy Tether in the UK?

Is Tether a good investment?

Can I sell Tether coins?

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