Crypto Investing
18 Jan 2022

How to Buy Tether (USDT) Step by Step Guide for Beginners

Akumbenla Jamir

Tether (USDT) is an Ethereum token that is pegged to the value of the US Dollar, where one USDT equals $1.  As a stablecoin, it aims to keep cryptocurrency valuations stable. 

Tether is the most valuable stablecoin in terms of market capitalization, and users can exchange Tether tokens for dollars. 

Stablecoins embody the best of both cryptocurrencies and fiat currencies- the stability of fiat currencies and the speed and privacy of cryptocurrencies.  So, how do you buy Tether in India? 

It’s unbelievably easy and we’re going to guide you through the entire process step by step. 

Before we begin, here is a fun fact – Tether was previously known as RealCoin and was an ordinary altcoin. Read more about how Tether has come such a long way here

How to Buy Tether (USDT)  

You can buy Tether in India via CoinSwitch Kuber, India’s leading crypto exchange platform trusted by over 14M Indians! You can choose from 80+ digital currencies like Bitcoin, Ether, Tether, Shiba Inu and many more on the app. We keep our platform simple and accessible for everyone interested in buying and selling crypto while ensuring strong security.

Steps Involved in Buying Tether (USDT) in India

Step 1: Open CoinSwitch 

Get the CoinSwitch Kuber app on your phone – Android or iOS. Click on the respective operating system to download the app. You can also enter your phone number on our website, and an SMS with a link to the app will be sent to you!

Now that the first step is done, let’s get to step two.

Step 2: Register & Open an Account

Create an account by following the steps below-

  • Enter your mobile number for OTP verification and ensure that you enter a valid mobile number with incoming and outgoing services.  
  • Once you receive the OTP, enter it to go to the next step. 
  • You must set a PIN on the app for added security. Make sure you choose a strong PIN number, and most importantly, remember the PIN. 

Please reach out to our support team, who are dedicated to providing impeccable customer service if you face any roadblock. 

Step 3: Complete your KYC

KYC is mandatory in all crypto exchange platforms but don’t worry, the process on CoinSwitch Kuber is very easy. Go to the ‘Profile’ section in the bottom right corner of the app and click on ‘User Verification’. You just need 3 things- 

  • PAN card, which is mandatory. 
  • An additional ID card – Aadhar Card or Passport or Voter ID. 
  • And a nice selfie.

Followed by three steps-

  • Basic Verification like your name, date of birth, and your email address. 
  • PAN Card Verification will require you to scan your PAN card then and there. 
  • Identity Card Verification of a secondary, government-issued ID.

Note: CoinSwitch Kuber does not accept digital copies of the identification card. They are scanned in real-time to ensure that there is no foul play.

Buy Tether with CoinSwitch

Step 4: 2 Step Verification

If your KYC verification fails on the first attempt, don’t panic. It may be a minor error- like your name, and other details in your PAN Card and your secondary ID not matching. Security is our #1 priority, and KYC verification is very important in ensuring your security. 

If you entered all your details correctly but your KYC is still pending, our team will message you with the actual problem. You can seek help from our support team or click on “Need help?” within the app, which has all the answers to your queries. 

Step 5: Add Bank Details

Almost there! This is the final step in setting up your CoinSwitch account, after which you can start buying and selling Tether! To add a bank account, go to the profile section at the bottom right side of the app, and select “Bank Details.”

For a better experience, ensure that the bank account you’re adding has the same name as your PAN card. 

Once you add a bank account, you will need to transfer funds from your bank account to your CoinSwitch wallet to buy Tether or any other cryptocurrency. For this, you can either transfer the funds through Net Banking or UPI transfer. 

  • Net Banking – Transfer the necessary amount to the bank account you added. The funds will reflect in your wallet as soon as the process is complete. This may take up to 48 hours.

Note: Please use your registered bank account to transfer funds to avoid unnecessary issues.

  • UPI Transfer – Enter the amount to your preferred UPI app like GPay, PhonePe, Paytm etc. A payment request will be made to the UPI app you selected. The funds will reflect in your wallet within 10 minutes if the transaction is successful.

Feel free to reach out to our support team if you face any difficulties. 

Step 6: How To Buy Tether 

If you have completed all the steps above, we want to thank you for choosing us as your crypto trading partner. Once you’ve made  sure you have added a sufficient amount to your wallet:

  • Click on the ‘Market’ tab at the bottom of the app
  • In the explore bar, search for ‘Tether’
  • Select ‘Tether’ and select the Buy option 
  • Enter the amount and click ‘Confirm’ to buy. Viola! You’re done! 
  • You can track your investment in the ‘Portfolio’ tab at the bottom of the app screen 

Buy Tether with just ₹100

Wrapping it up

Although BTC and ETH are the top cryptocurrencies, most investors refrain from using them for everyday transactions. Why? High volatility. Tether addresses this issue by allowing investors to avoid the high volatility of other cryptocurrencies. The token makes perfect sense because it is pegged to the USD. The primary benefit of Tether is that it can be sent anywhere globally with cheaper transaction fees and is faster than traditional banks and other financial institutions.

But no matter how safe the water might seem to be, do not dive into the investment pool without research. Remember that investing in cryptocurrencies should always follow a thorough and systematic analysis. 

Common FAQs

  • Is Tether legal in India? 

Despite the unregulated stance of cryptocurrencies in India, the government has not declared any legal framework that makes cryptocurrencies illegal. So, to answer the question, Tether or any other cryptocurrencies are legal in India. 

  • Where can I buy Tether in India? 

You can buy Tether from CoinSwitch Kuber, one of India’s leading crypto exchange platforms. With over 80+ coins listed, 13+ mil Indians have chosen CoinSwitch Kuber as their crypto exchange partner. 

  • How do I buy USDT with INR?

You can buy USDT with INR through CoinSwitch Kuber. Simply download the app, complete the KYC process and add funds to your CoinSwitch wallet. With the funds added to your wallet, buy or sell Tether, you can convert Tether into INR here. 

  • How to sell Tether in India? 

If you have Tether on your CoinSwitch Kuber wallet, click on the coin and go to the ‘Sell’ button at the bottom of the screen. Select the percentage of your holdings you want to sell, place a Limit or Market order, and confirm. Your Tether will be traded on the exchange, and the money will be reflected in your wallet immediately. In case you have Tether on a crypto wallet, CoinSwitch allows you to transfer to the app. 

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

writer

Akumbenla Jamir

Content Writer

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