How to Buy Tether (USDT) on Kraken
Looking to avoid volatility in the cryptocurrency markets? Maybe you want to time trades and transfer value denominated in cash, without the headache of cumbersome conversions?
If so, you may be interested in buying USDT, a crypto asset that mirrors the value of the U.S. dollar. In fact, each USDT is redeemable for $1, and though it may fluctuate from time to time, it can offer traders the stability of cash with the efficiency of cryptocurrency.
Not sure yet why you’d want to buy USDT? Feel free to read our ‘What is Tether?’ guide. It offers a more extensive breakdown of its technology and vision.
Why buy USDT?
Since it can be redeemed for U.S. dollars, USDT can offer a powerful tool for avoiding the sometimes extreme volatility of the cryptocurrency markets.
For example, by moving value to USDT, you might reduce your risk of exposure to a sudden drop in the price of cryptocurrencies. Having USDT (as opposed to the U.S. dollar) can also remove transaction costs and delays that impair trade execution within the crypto market.
Where can I buy USDT?
There are a number of ways to buy USDT. However, many find that it is easiest to purchase it through a trusted global exchange like Kraken.
Aside from offering the lowest fees in the industry, Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world. This matters because if you lose the private key to your USDT, it can be challenging if not impossible to recover your funds.
At Kraken, we take security seriously, with tested technology and rigorous procedures designed to safeguard funds. We don’t cut corners when it comes to security, and neither should you.
How to buy USDT on Kraken
Follow the steps below to start buying USDT on Kraken:
1. Sign up for a Kraken account.
First, enter a valid email address, create a new username and set a strong password to protect your account.
2. Verify your account.
After providing your name, date of birth, country of residence and phone number, you can buy USDT with cryptocurrencies like LTC and DASH. In order to use cash (i.e. USD or EUR), you’ll need to provide our experts with additional supporting documents verifying your identity. Read about our verification processes here.
3. Deposit cash.
You can fund your account in a number of ways. How you do so will depend upon your location and preferences.
4. Purchase USDT!
Once your account is funded with cash, you’re ready to purchase USDT. At this point, you’ll also gain access to our advanced charting tools, 24-hour global client support and the ability to utilize spot trading on margin*, features that help make the Kraken experience beloved by millions of global traders.
Where to keep your USDT
Once you buy USDT, you’ll need somewhere to safely store your cryptocurrency.
Kraken is secure, but it’s always safest to store your USDT in a wallet, a software or hardware device that stores the public and private keys required to make crypto transactions.
There are many types of USDT wallets available. Mobile and web wallets can make transactions easy, while hardware wallets are perhaps best suited for secure, long-term storage.
When choosing a crypto wallet for your USDT, first spend some time thinking about what you plan to do with your tokens to find a wallet that fits your needs.
Kraken supports the deposits and withdrawals of USDT on the bitcoin (USDT-OMNI) and the ethereum (USDT-ERC20) blockchains. However, both variants of USDT will be represented as USDT in your account, and you are free to deposit and withdraw USDT using either protocol.
It is important to note that Kraken is an exchange service and not a wallet service. So while we allow our clients to hold USDT in their accounts, we highly encourage you to separate your USDT holdings into multiple wallets.
Start buying USDT
Ready to buy USDT so you can time your next crypto trade? Click the button below to buy and start trading with USDT on Kraken today!