Any action taken by the reader based on this information is strictly at their own risk. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated. Tron, which holds the largest supply of Tether after Ethereum, has become especially popular in Asian markets. Stablecoins are particularly popular in areas with limited or restricted access to USD. From Latin America to Asia, stablecoins have emerged as lifeboats in inflation-heavy or capital-controlled economies. For example, if you have one USDT or USDC (stablecoins pegged to USD), you can exchange 1 USDT for $1 and 1 USDC for $1.
Let’s look now at how to exchange USDT on OKX and also on a DeFi platform directly from your wallet. USDT is issued by Tether, and the company makes sure that all USDT is backed by an equivalent amount of USD and other assets. USDT can be issued and used on various blockchains, including Ethereum, Tron, Solana, Algorand, and BSC. As an Economics degree holder from the University of California Santa Barbara, he’s well versed in topics like cryptocurrency markets and taxation. Swap your USDT for other tokens directly in your wallet or by using a DeFi application. Exchange USDT for USDC on Solana to gain access to DeFi trading on MoonPay and explore a world of new tokens to own.
How to transfer USDT from OKX mobile wallet
You can pay with a credit/debit card, Apple Pay, Google Pay, or PayPal. We also support import token coinbase local options such as SEPA , UK Faster Payments, Pix in Brazil, as well as Venmo and bank transfers in the US. Some exchanges, including OKX, don’t charge a fee to transfer USDT. However, a network fee will apply depending on the network you choose. These are fees paid to the blockchain network, and they also apply when you transfer USDT from one wallet to another, or from a wallet to an exchange. However, the process of buying USDT can be confusing for beginners.
- What’s more, when swapping tokens via DeFi, you can only swap your assets for tokens that are available on the chain.
- Next, you’ll be prompted to enter the amount you’d like to purchase.
- USDT is issued by Tether, and the company makes sure that all USDT is backed by an equivalent amount of USD and other assets.
- Another option is to use a decentralized exchange (DEX) to complete the swap.
- Buy Tether (USDT) in 150+ countries using the local currency of your bank account.
To swap USDT on OKX, make sure you’re logged in, verified, and already have USDT in your account. When you trade USDT for USD, you’ll incur a capital gain (though it’s likely that this capital gain will be close to 0). Because of the controversies around Tether, some investors have turned to alternative stablecoins like USDC. In this guide, we’ll walk through the best exchanges to buy USDT and answer a few frequently asked questions about Tether.
Buy USDT and 100+ other cryptocurrencies, including Bitcoin, Ethereum, Solana, and more
For example, if you invest $20 in USDT, you will receive $20 worth of USDT, minus fees, of course. As a result, stablecoins like Tether (which is pegged to USD) do not serve the same purpose as most cryptocurrencies. Unlike most cryptocurrencies, which are speculative assets, stablecoins are designed to have low volatility and a stable value. Strictly avoid moving to third-party messaging apps.➤ If anything seems suspicious, contact Bitget support before confirming the transaction. The Build Back Better Act mandates that all centralized cryptocurrency exchanges will be required to issue Form 1099-DA to users starting in 2026.
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However, USDT’s parent company Tether has faced controversies (more on this later). Learn all about crypto swaps and NFTs, and discover what’s trending in the budding world of Web3. Stablecoins are part of a larger story about global demand for the U.S. dollar, particularly outside of U.S. borders.
Visit our price page to learn more about Tether
- And if you feel ready to level up your trading and potentially gain more from your USDT, read our beginner’s guide to OKX Shark Fin, our principal-protected savings product.
- A stablecoin is a cryptocurrency that pegs its value to the price of an underlying asset, such as a fiat currency like USD, EUR, or GBP.
- CEXs, such as Bitget shown in our example, are convenient for buying USDT because they allow you to trade without the costly network fees that you see on-chain.
- First, head to your account to locate your USDT and use your wallet.
MoonPay works with leading non-custodial Tether wallets like Ledger and Trust Wallet. MoonPay will set up a wallet automatically for you at checkout if it’s your first purchase for USDT (ERC-20), USDT (SOL), USDT (TRC-20) or USDT (BSC). And if you’re coming to MoonPay through your existing wallet, we’ll pre-fill your wallet address automatically.
You can filter offers by sellers by your choice of fiat currency, buy amount, and payment methods — such as cash, bank transfer, or mobile wallets. Delivery times for Tether purchases can vary based on the payment method used to purchase. You can receive your USDT in as little as 5 minutes when paying by credit/debit card. If you pay with bank transfer, receiving your crypto can take between 1-3 business days.
This guide breaks down everything you need to know about cryptocurrency taxes, from the high level tax implications to the actual crypto tax forms you need to fill out. Go to the “My Account” tab and follow the instructions in the “Verify your identity” section. Once the verification process is completed, full trading and transfer capabilities will be enabled for your account. Find all the answers to your MoonPay questions and start swapping cryptocurrency with confidence. Purchase Tether in more than 150+ countries using the local currency of your bank account. Generally, investors choose to use a wallet that’s off of an exchange, like a desktop or hardware wallet.
Buy USDT instantly with a credit or debit card, bank transfer, Apple Pay, Google Pay, and more. MoonPay offers a fast and easy way to buy Tether (USDT) with a credit or debit card, bank transfer, Apple Pay, Google Pay, and more. You can buy any amount of USDT and know you will receive vaguely the equivalent in your chosen asset, as the price is pegged to the currency’s price.
For example, if you hold USDT in your Ethereum wallet, you can swap it for ETH or other ERC-20 tokens. But, you can’t swap it for Bitcoin or other coins not available on Ethereum chain. The easiest way to buy USDT is by topping up your MoonPay Balance. The main types of stablecoins are fiat-backed, cryptocurrency-backed, and commodity-backed. Stablecoins are pegged to assets such as the U.S. dollar (USD) because crypto investors like to rebalance their portfolios and hold safe-haven assets when markets are unstable.
You can also select your preferred fiat currency from the “Buy Crypto” dropdown menu as shown in the image below. Here’s how much tax you’ll be paying on your income from Bitcoin, Ethereum, and other cryptocurrencies. For more information, check out our guide to stablecoin taxes. Stablecoins like USDT are taxed like other cryptocurrencies and can be subject to capital gains tax and income tax. Currently, decentralized exchanges do not require Know Your Customer (KYC) information. Whether you’re a seasoned trader or buying Tether for the first time, the MoonPay app gives you the tools to get it done.
Many DApps use them as liquidity, collateral, and as a source of stable liquidity. Once that’s done, you’ll be logged in and ready for the next step. Once the withdrawal has been authenticated, the USDT will arrive in the wallet of your choice.
If you’re looking to buy USDT quickly and easily, we’ve got you covered. Once you have your Tether (USDT) tokens secured in your preferred wallet, you’re free to use your USDT how you wish. You can “HODL” Tether in your wallet, send it to a friend, or sell USDT for fiat. Just use DeFi trading on MoonPay to buy USDT instantly with low fees.
This will make it harder than ever to ‘cash out’ stablecoins without the government being able to identify you. USDT, or Tether, is a cryptocurrency that is pegged to the value of the US dollar. This means one USDT is intended to remain equivalent to one USD, providing a stable value in the often volatile cryptocurrency market. MoonPay allows you to easily sell Tether and cash out directly into fiat currency and your bank account. After the payment is made and confirmed, the USDT will be released to your Bitget wallet. You can check the updated balance by navigating to “Assets overview”.
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