Buying Tether with a debit or credit card
Tether (USDT) is today's most popular stable coin. It was launched in 2015, but most exchanges and organisations only recognised it two years ago.
Although many analysts and companies didn't believe in stable coins, projects such as Libra and Tether are seeing an increasing number of supporters. For example, USDT became one of the base cryptocurrencies for trading pairs. Moreover, USDT now has the highest 24-hour trading volume. Even Bitcoin couldn't reach it because the gap between them is over $10 billion.
In 2018, there were doubts that the same amount of US dollars were backing Tether. But Tether Limited explained that USDT is backed up both by fiat currency and loans issued to companies related to Tether Limited. This is why USDT remains the most popular stable coin and is currently among the best trading pairs.
How to buy Tether with a debit card
The facts mentioned above are the main reasons why most cryptocurrency market newbies want to start trading with USDT. Very often, initial problems aren't connected to the lack of experience or misunderstanding of the crypto market. It's just that beginners don't know how to buy Tether with a debit card. Here's a quick guide of all the possible ways to buy this cryptocurrency.
A step-by-step guide
There are three ways to buy Tether instantly, but we'll first go over the initial step: creating a Tether wallet. You can choose an official Tether Wallet, a wallet on an exchange, a desktop wallet (e.g., Exodus) or an offline wallet (e.g., Ledger Nano S).
A wallet on an exchange is the simplest way to buy cryptocurrency instantly. Moreover, it's the best trading option, which is why we picked it as an example. How do you create one? Just create an account on any platform.
Next, go to 'Wallets'. You'll have at least 20 assets there, so you have to find USDT and click the 'Deposit' button. You'll be redirected to the page with instructions. Once there, choose your payment method (Visa/MasterCard in this case) and enter the amount of USDT you want to buy (or the amount of money you are going to spend).
After entering the requested information, click the 'Confirm' button and fill in the card data (card number, CVV-2 and card expiry date). Verify your request via e-mail or SMS. If everything is correct, your request will be added to 'Pending' on the 'Transactions' page. After this, you'll have to wait for the USDT to appear in your wallet. The transaction is usually confirmed within 2-3 minutes.
Many traders prefer this method because it allows you to use a wallet on an exchange. And this is the most reliable way to buy USDT with a debit card because you can choose trusted exchanges with adequate levels of security. This is why you can be guaranteed that your money or personal information won't be stolen.
That being said, there are some disadvantages:
- There are high fees for depositing money from a debit card.
- Only a few exchanges provide such a payment method.
- The mechanism for buying cryptocurrency in exchange is complicated, so you need some time to understand it.
How to buy Tether with a credit card
The main disadvantage of an exchange platform is that you have to register and verify an account to buy cryptocurrency. Otherwise, you'll have limits for everyday transactions. Verification usually takes up to 15 minutes, but it can sometimes pend for up to 3 days. In this case, there's another way to buy Tether: with a credit card.
Using exchangers is the best option. These services have high reserves of different cryptocurrency and fiat, so you can buy USDT using a credit card. How do you find them? Go to an exchanger monitor (such as Bestchange), choose 'USDT' in the 'Get' column and 'Visa USD' in the 'Give' column.
The service will show you all the trusted platforms, as well as their reserves and fees so you can choose the best option and buy the cryptocurrency. When you select an exchange, fill in all the necessary data and follow the instructions. It will take about 5 minutes to create a request that will be processed within 10-20 minutes. You'll get your USDT pretty quickly.
The last way to buy Tether with a credit card is through personal contacts. USDT is a very popular cryptocurrency, and many people use it for everyday transactions. Ask your friends about their wallets. It's very likely that at least one of them will be able to sell you some coins.
If not, go to a forum on cryptocurrencies and try to find sellers there. If there are no topics about selling, you'll have to create a post about your intentions to buy USDT. This way is only right for large amounts of crypto coins.
Buying USDT through personal contacts can be very risky. If you get it from a stranger, they could just scam you and steal your money, so be very careful when using this method.
Where to buy Tether with a credit card
Many services allow you to buy Tether with a credit card. You have to choose your service based on the method you are going to use. For an exchange, you can select cryptocurrency exchanges such as StormGain, Kraken, Huobi, Binance and others. They provide better conditions for fast and secure USDT purchases, and they're the most trusted among traders. However, be aware of fees for deposits.
If you prefer to buy Tether in person, you won't find any specialised services or ATMs today. This way is the least reliable, so cryptocurrency enthusiasts and companies haven't developed such programmes. You can find a seller on a forum like Reddit or where you live. You can also visit different cryptocurrency conferences to find trusted people and buy USDT from them.