There are many stablecoins out there, but USDT or Tether is among the best and most popular for a reason. Many individuals and even companies are more than happy to choose USDT as their go-to stablecoin for trading. Seeing how stable and secure it has been over time, it is obvious why it is among the best stablecoins.
But it’s one thing to trade in USDT, and it’s another to trade it on the best USDT exchange platforms. That’s why we have curated the best USDT exchanges for you. This article will rank the top 5 crypto exchange USDT platforms. Additionally, we’ll tell you the pros and cons of these USDT crypto exchanges so you know what works for you if you’re looking for tether to buy or sell.
USDT Trading Power: Why USDT Is Popular For Trading
Connection To The U.S Dollar
USDT Tether is no doubt one of the most popular stablecoins, and it’s all thanks to its peg to the US dollar. Crypto noobs would think USDT is the same as the USD, but it’s not (just look at the “T” at the back). The difference is simple. USDT is a cryptocurrency; USD is just a currency. The USD is owned by the US government, and shockingly, USDT is owned by a Hong Kong company.
Stability
When you call something a stablecoin, you expect it to be stable, right? Well, USDT does not disappoint in this regard. Its connection to the U.S. dollar comes with one significant benefit: stability. The USDT’s value fluctuates with the U.S. dollar, a very stable currency.
Liquidity
Yes, USDT is not physical, solid money, but its liquidity doesn’t mean it’s liquid, either. Its liquidity means it’s widely accepted on various exchanges and can easily be converted into other cryptocurrencies or even fiat currencies if that floats your boat. So, if you’re looking for where to buy USDT or sell, the market is wide open.
What Are The Top 5 Best Platforms For Trading USDT?
Bybit
Bybit is probably the best USDT exchange website crypto has. Whether you’re looking for where to buy USDT in large quantities or you’re looking to buy USDT in bits, Bybit will serve you well.
The exchange is known for its amazing liquidity and minimal fees for trading USDT. Bybit also works in over 160 countries, so you can buy USDT or sell it anywhere in the world.
Bybit is easy to use, whether you’re new to the complex crypto world or you’re already a crypto human. The interface is user-friendly, and the platform is very secure, so you can rest assured that your transactions are safe. You could have an army watching over your money.
Did we mention the minimal charges? Well, it doesn’t hurt to tell you again that Bybit charges only a bit for transactions. It’s 0.01% for makers and 0.06% for takers. You’re almost trading for free.
Bybit also offers various deposit methods in over 50 currencies. So, whether you’re a dollar guy or a euro person, Bybit still works for you.
Read full Bybit review: Bybit review – Full overview of Bybit crypto exchange
If you’re in doubt, ask their over 20 million users.
Pros
- Low Fees
- Allows many deposit methods
- High liquidity
Cons
- Too many users
Binance
They sound similar, but don’t confuse Bybit with Binance. Binance is one of the most prominent players in crypto; of course, you can expect it to trade USDT.
Binance’s most noteworthy advantage is its extensive liquidity and a wide array of different tradable assets, including USDT Tether. As we said, it is one of the most prominent crypto players, so this shouldn’t be a surprise.
But we’re talking USDT, so what does Binance do differently? One word. “fast transactions.” Okay, that’s two words, but you know what we mean. Binance is fast for crypto USD to USDT exchange.
Even with millions of users across all 180 countries where Binance offers its services, it is still able to maintain tremendous speed.
Read full Binance review: Binance Review – Full overview of Binance crypto exchange
It doesn’t matter if you’re trading a little or higher volumes; Binance will handle all your transactions quickly so you can move on to the next. It’s also relatively cheap when it comes to transaction fees—a 0.1% fee per spot transaction. Binance also allows many deposit methods and funding options like local bank transfers, credit and debit card transfers, PayPal, Google Pay, and others.
Pros
- Fast Transactions
- Low Fees
- Allows many deposit methods
Cons
- Slow customer service
Kraken
Time to unleash the Kraken! As its name suggests, Kraken is a monster when it comes to its efficiency as a USDT crypto exchange.
It is a fantastic platform that conveniently hosts over 200 different cryptocurrencies, including USDT Tether. This certainly gives it incredible liquidity, but that’s not all about Kraken.
It’s also recognized as one of the best over-the-desk trading platforms and one of the best platforms to handle large-volume trades. If you’re a mobile trader, Kraken also has efficient mobile apps for both iOS and Android phones. The exchange is stacked with a staking service that offers excellent annual returns. If you consider yourself a pro at trading, you will enjoy Kraken Pro, where you will have a truly professional trading environment with competitive spreads and increased rate limits. Fees are a bit higher with Kraken, with 0.26% Taker Fees and 0.1% Maker Fees. For a monster service, the price is still very gentle.
Read full Kraken review: Kraken review: Features, Fees, Advantages
Pros
- Convenient Interface
- Allows margin trading
- Fast OTC trading
Cons
- No service in New York and Washington
- Staking and futures trading are not available in the US
Coinbase
Coinbase is the best crypto exchange for beginners interested in knowing how to buy USDT. The interface is really easy-to-use and they provide simple educational materials on trading, blockchain,and everything Web3. You can also learn and earn crypto rewards through the Coinbase Earn program.
Read full Coinbase review: Coinbase Review: Pros, Cons, Features
With its four types of two-factor authentication, Coinbase is one of the safest and most secure crypto USD to USDT exchanges.
Pros
- Beginner-friendly interface
- Educational material is available
Cons
- Higher fees
Bitstamp
We have another one of the “Bits” for you. But seriously, why do most exchanges have to start with “bit”? There are quite a few exchanges called bit-something. Anyway, this one is called Bitstamp, and it’s amazing.
To start with, Bitstamp only charges a bit in trading fees. Last time we checked, it was between 0.30% and 0.00% for makers and from 0.40% to 0.03% for takers. Want a bit more? Users with a 30-day trading volume of less than $1000 are not charged anything at all. ACH transfers are free of charge as well.
Read full Bitstamp review: Bitstamp Review – Full overview of Bitstamp Crypto Exchange
Bitstamp is also known for being secure and transparent, which is important for many traders.
Pros
- Low trading fees
- Fast withdrawal
Cons
- Fewer crypto offerings
If there’s anything everybody knows about the crypto world, it’s its volatile nature. Prices rise and fall. However, in the middle of those two extremes, USDT is relatively stable. That has been the characteristic of USDT for a long time, and its future looks stable as well.
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