Why carry out its transactions on a serious exchange?
No matter what cryptocurrency you want to get, It is always important to go to a reliable exchange to buy or sell it in order to avoid being scammed by an unscrupulous platform.
FTX, Swissborg, Binance, Kraken, BitPanda, Paymium, PrimeXBT, ProBit, Kucoin,…, there are hundreds of different exchanges which make it possible to carry out purchase or sale operations USDT. If you have any doubts about the reliability the exchange you wish to use to purchase Tether, instead choose one of the sites that we recommend to carry out your transactions in order to limit your risk.
Methods available to buy USDT tokens
Tether is, despite its specificity and its sometimes sulphurous reputation, is a popular and highly capitalized digital asset. As a result, you have many options at your disposal to buy tokens USDT.
We are therefore going to see with you the available methods which are the most common so that you can procure Tether.
Buy Tether with a credit card
Some platforms allow you to buy Tether with a Bank card, but this is not the case all over Unfortunately. Indeed, the exchange sites which allow the passage from fiat world to crypto world generally have a sufficient number of cryptoassets restricted that it is possible to exchange for euros or some dollars.
In the event that you cannot directly purchase USDT with your bank card, you will have to go through a intermediate stage. You will need to start by getting a popular digital asset, like the BTC or ETH for example, then the transfer to a platform that allows it to be traded against USDT.
Buy USDT with a wire transfer
Similarly, it will not always be possible to purchase USDT tokens with a bank transfer. If some exchanges allow it, others will not. Again, it will first be necessary to obtain a popular cryptocurrency via a bank transfer before being able to convert to Tether on another platform.
What are the other payment options for buying USDT?
As you understood, only cryptoassets the most popular can be exchanged directly with a means of payment that uses a legal tender. So, it will be difficult to buy USDT tokens with paysafecard, skrill, paypal or in cash.
Buy Tether with Bitcoin or Ethereum
If you are on a buying platform that does not allow you to buy Tether directly with real money, then you will be required to get yourself another digital currency to complete this task.
Generally, Bitcoin and Ethereum are the two cryptoassets that have the most different trading pairs. Therefore, these are the most suitable cryptocurrencies to buy USDT. On all platforms that offer their users Tether, it will be possible to buy USDT tokens with BTC or ETH.
Why secure your USDT on a wallet?
Once your USDT is in your pocket, you should now put it in a safe place. Indeed, if you leave them on the exchange site on which you bought them, you expose yourself to the risk of hacking the platform. Even if the exchanges are more and more secure, it is a risk that you can easily avoid. by securing your USDT tokens on a suitable storage wallet.
To find out how to secure your USDT tokens, we invite you to consult our article on best Tether wallets (insert link). Several different storage wallets are presented and you will just have to choose the one that is most suitable for your use of cryptocurrencies.
You may also want sell your Tether. To accomplish this sales operation, the reasoning to apply is similar to that required for a purchase transaction.
In the event that you are on a sales platform which links the crypto / fiat world which has USDT, then it will be easy to convert this digital asset into a legal tender currency. Once done, all you have to do is withdraw the amount from your personal accounts.
If you are on an exchange that does not allow you to sell your USDT for euros or dollars, in this case it will be necessary to think of convert your Tether to Bitcoin or Ethereum beforehand. Then you can sell these BTC or these ETH for fiat money.
The reasons that can push you to sell your USDT tokens
Tether has been talked about a lot since its creation and very often, not in the best way. As a result, many people at some point wanted to sell their USDT tokens. But the fact of wanting to make a sale of his Tether can also be linked to other reasons.
Here are some cases where it might be worth selling your USDT:
· When the cryptocurrency market is in bullrun. In this case, it is better to place your investments in cryptocurrencies that seem the most more profitable or, failing that, on Ethereum where the Bitcoin. By keeping your assets in USDT, these will not change because of their parity with the dollar and you will miss out on many profits ;
· If you notice bad news on the project. Regularly, rumors report that Tether does not have sufficient real money counterparts to guarantee its value or the US government will investigate the company. Until now, it was always about false rumors unfounded. However, it is possible that one day this will indeed be the case. You will then have to sell your USDT as soon as possible in order to avoid a collapse of prices ;
· You think another stablecoin is more interesting. Tether is not the only stablecoin on the market. Others have already emerged and more will appear. Among these, your attention may be on a particular stablecoin that you think is More reliable. In this case, do not hesitate to sell your Tether (in part or in whole) to invest in this other stablecoin ;
It is also possible that you wanted to use a stablecoin which is based this time on the legal tender currency in your country (euro, pound, etc.) rather than the US dollar.
The tax on cryptocurrencies is a fairly complex subject to deal with, because the rules change from one country to another. If you would like more information on the subject, please see our article on the legal aspect of cryptoassets.
However, if we refer to the case of France, a tax on capital gains only takes place from the moment there has been a conversion of the cryptoassets into a fiat currency. In the case of Tether, which nevertheless has parity with the dollar, you do not have to pay tax on it. The taxes that you will have to pay to the French State are only due from the moment you convert your USDT into dollars or euros.
Conclusion on buying and selling Tether tokens
As you may have noticed, buying and selling Tether tokens is not that complicated. However, the procedure can become a little more complex when it is not directly possible to obtain USDT on a buying platform.
In the event that the exchange allows you to buy Tether directly for a legal tender, then simply choose the deposit method of your choice and choose the number of USDT you wish to purchase. If by bad luck it is not possible to buy USDT directly, in this case it will first be necessary to buy another digital asset and then trade it against Tether.
When you want to sell your Tether tokens, the logic remains the same. Either you can sell them directly for fiat money, or you will have to go through a digital asset that will link these two operations. Also, due to the constant value of a USDT which will always be worth 1 US dollar, you may prefer to keep these tokens rather than sell them if your goal is to continue investing in digital currencies.
If you would like more information about USDT, we invite you to consult our guides on Tether. You can find several articles related to this famous stablecoin which each time tackle a specific subject.