Exchanges with Tether (USDT): a list of cryptocurrency exchanges for trading USDT

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USDT is a stablecoin issued by Tether and is always worth roughly the same value as the US dollar. Such a cryptocurrency can be used for many purposes – quickly transferring the value of cryptocurrencies into real money, saving on commissions, etc. Stablecoins are very popular today and cover a large part of the market, and Tether is the most demanded of them. It is in the top 5 in terms of capitalization among all cryptocurrencies (as of May 2021, the market cap is more than $ 58 million). The Btcnewsweb.com editors will tell you which exchanges USDT is supported on, where you can buy and sell this asset.

USDT: features and applications

The Tether project was founded by the company of the same name in 2014 in order to create a “bridge” between fiat currencies and cryptocurrencies. With this asset, users could use the inherent transparency of the cryptocurrency and minimal transaction fees with minimal risk of volatility.

Each USDT issued in circulation has a value of 1 to 1 against the US dollar and is backed by fiat currency held in reserves in the organization’s bank accounts. Tether can be redeemed for the base fiat currency or for the equivalent spot value in another cryptocurrency.

How the technology works:

  • The issuer Tether Limited acts as a trusted third party responsible for protecting and maintaining the coin.
  • The technology includes three layers. The first layer is the blockchain (initially Bitcoin, then other chains).
  • The second layer is the protocol (originally the Omni Layer). Technically expressed rules that make the network easier to operate. They relate to issuing tokens, tracking, interacting with them, transferring, storing, etc.
  • The third layer is Tether Limited, a business entity that coordinates collateral-related activities. Responsible for accepting fiat deposits and issuing corresponding USDT, and vice versa, sending fiat and destroying USDT. Engaged in maintaining reserves, public reporting, integration into the blockchain ecosystem.

Tether is issued to a user when he transfers funds to a special smart contract through an exchange. Once the transfer is confirmed, the issuer creates an equivalent amount of Tether and sends it through the smart contract to the user.

The point of Tether is that it is an effective way to avoid the extreme volatility inherent in other cryptocurrencies. In addition, it is faster and cheaper to transfer BTC to Tether than to real USD.

Let’s take a look at which exchanges work with Tether. There are a lot of such platforms, but we will consider a few of the most popular ones.

Exchanges with Tether (USDT)

1. Binance Exchange

Binance Exchange Centralized exchange with a trading volume of over $ 100 billion per day. It features a large selection of assets and the maximum number of asset management features, including DeFi and CeFi options.

Trade Tether (USDT) on Binance
  • Official website: https://binance.com/ru/
  • Supported Tether standards: BEP-2, BEP-20, ERC-20, TRC-20.
  • The most popular USDT pair is BTC / USDT.
  • Trading commissions: up to 0.1%

2. Currency.com Exchange

A reliable and safe site, officially registered in Belarus and meeting all the requirements of regulators. More than 75 indicators available for free help in trading. In addition to the main cryptocurrencies, the exchange deals with thousands of tokenized stock market assets.

Crypto exchange Currency.com for trading Tether (USDT)
  • Official website: https://currency.com/ru
  • Supported Tether standards: ERC-20.
  • The most popular USDT pair is USDT / USD.
  • Trading commissions: 0.075%

3. Bybit Exchange

Bybit exchange specializes in futures trading. Shown here are reverse perpetual contracts, line perpetual contracts, and reverse futures contracts. Bybit is one of the fastest growing cryptocurrency derivatives exchanges thanks to its user-friendly interface and loyal commissions.

Bybit Cryptocurrency Exchange
  • Official website: https://www.bybit.com/
  • Supported Tether standards: ERC-20, TRC-20, Omni.
  • The most requested perpetual contract with USDT is BTCUSDT.
  • Trading commissions: up to 0.075%

4. EXMO exchange

Regulated crypto exchange registered in the UK with support for fiat currencies popular in the CIS (ruble, hryvnia, etc.). Mandatory verification is required for replenishment and trading.

EXMO exchange
  • Official website: https://exmo.me/ru/
  • Supported Tether standards: ERC-20, TRC-20.
  • The most popular USDT pair is BTC / USDT.
  • Trading commissions: up to 0.3%

5. Cex.io Exchange

An exchange that grew out of a cloud mining service launched in 2013. Registered in the UK, and in accordance with the strict rules of this jurisdiction, it also does not allow working without verification.

Cex.io Exchange
  • Official website: https://cex.io/
  • Supported Tether standards: ERC-20.
  • The most popular USDT pair is ETH / USDT.
  • Trading commissions: up to 0.25%

6. Huobi Exchange

An exchange operating in several different jurisdictions (there are several separate branches for each of them). Offers the broadest functionality and works flawlessly for many years.

Huobi Exchange
  • Official website: https://www.huobi.com/
  • Supported Tether standards: ERC-20, TRC-20, Omni, HECO.
  • The most popular USDT pair is ETH / USDT.
  • Trading commissions: up to 0.2%

7. OKEx Exchange

The exchange is consistently among the top 5 in terms of trading volume. It is in demand for spot, futures, margin operations. Provides opportunities for savings on commissions and passive earnings.

OKEx Exchange
  • Official website: https://www.okex.com/ru
  • Supported Tether standards: ERC-20, TRC-20, ALGO, OKEXchain.
  • The most popular USDT pair is BTC / USDT.
  • Trading commissions: up to 0.1%

8. Gate.io exchange

The crypto exchange is characterized by the highest possible reliability. Each user must go through KYC to work with it, all funds are stored in cold wallets. The good work of technical support is also noted.

Gate.io exchange
  • Official website: https://www.gate.io/
  • Supported Tether standards: ERC-20, TRC-20, Omni, BEP-20, EOS, HECO, Solana.
  • The most popular USDT pair is ETH / USDT.
  • Trading commissions: up to 0.2%

9. MXC Exchange

A centralized platform with a friendly interface and a large selection of available assets. It also allows you to work with derivatives and ETFs. There is a section with DeFi where you can earn passive income, a p2p trading function, a standard and professional terminal for spot trading.

Exchange MXC
  • Official website: https://www.mxcio.co/
  • Supported Tether standards: ERC-20, TRC-20, Omni, BEP-20, SOL, HECO, EOS.
  • The most popular USDT pair is ETH / USDT.
  • Trading commissions: up to 0.2%

Decentralized exchanges

Different types of USDT can be found on decentralized exchanges such as:

How else can you exchange Tether (USDT)

In addition to cryptocurrency exchanges, you can use the following to exchange the Tether (USDT) stablecoin:

Is USDT reliable

In 2019, Tether updated its policy and many users decided that USDT stablecoins might not be 100% dollar-backed. This caused some audience churn. After all, incomplete security means that in the event of a hacker attack and loss of tokens, the company will not be able to compensate for the losses to all victims.

However, in February 2021, the company published a report from which it follows that there are enough reserves in abundance. Their percentage distribution looks like this.

Total consolidated assets exceed $ 35.2 billion, while liabilities are approximately $ 35.1 billion at the time of publication of the report. However, this situation also did not reassure all investors. For example, Caitlin Long, CEO of Avanti Financial, noted on Twitter that part of the collateral was invested in credit assets of “unknown quality.”

Where to store Tether

USDT is supported on several blockchain networks, namely: Algorand, Simple Ledger Protocol Bitcoin Cash, Ethereum, EOS, Liquid Network, Omni, Tron, Binance Chain, Binance Smart Chain, Huobi Eco Chain, OKEXchain, and Solana. Also launched on the Avalanche blockchain in mid-June.

For each specific type of token, its own wallets are suitable. For example, within the Atomic Wallet, you can use USDT operating on the Ethereum and Tron chains. Pay attention to this when choosing a storage. Sending assets to an address located on a different network will result in their loss.

Examples of USDT wallets:

  • Metamask
  • Guarda
  • Omni wallet
  • MathWallet
  • Trust wallet
  • imToken

Conclusion

The demand for exchanges with USDT is beyond doubt – on these trading platforms you can buy and sell cryptocurrency for stablecoins, which is a much cheaper and faster way than buying with real money. The stability of the coin makes it possible to effectively manage risks, protecting against the volatility of bitcoin and other cryptocurrencies. Be careful when choosing a crypto exchange, as well as when sending assets to or from it (be sure to check which network you are sending tokens to so as not to lose them).

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