Tether or USDT is a stablecoin that helps you exchange it with other cryptocurrencies. Instead of exchanging your fiat money with crypto and facing fees and time delays in processing, you can buy your preferred crypto with USDT.

If you are wondering where or how to buy USDT, then we are here to help you. The present guide helps you buy USDT on the eToro crypto exchange. So, without further ado, let’s start!

How to Buy USDT on eToro?

eToro is a simple-to-use platform for buying and selling USDT tokens. By following the below-listed steps, you can buy USDT on eToro without any hassle.

Step 1 – Create an eToro Account

Firstly, you need to create an account on the eToro website or mobile application. The platform is available both on Android and iOS mobile phones. You can also go to the official website of eToro and click on “Join eToro” to start creating your account.

The platform prompts you to enter your details like name, email ID, and password. Next, you need to verify these details and click on “Create Account”. Here, you will receive a verification code to your email address to verify the account. This whole process takes just a few minutes and now your eToro account is ready to buy USDT tokens.

Step 2 – Upload Your ID

Verifying your identity is essential because the platform restricts you to access all of its features without this step. For that, you must upload your identity cards like your driving license or other ID. You also need to upload your address proofs like utility bills or bank statements.

Once you upload all the required documents, the platform takes a few business days to verify your identity. You will be notified once the platform completes verification.

eToro is one of the safe and reliable crypto exchange platforms to buy USDT. All your personal and financial information on the platform is safe and secure. However, you can also practice additional security methods like 2-factor authentication in the “Settings” section of your account.

Step 3 – Add Money to Your Account

The last step before you can proceed to buy USDT on eToro is to add funds to your account. You can click on “Deposit Funds” in the dashboard and enter details – currency, amount, and payment method details.

The eToro platform supports USD, GBP, EUR, and AUD fiat currencies and if you use other fiat currencies, you need to pay exchange fees. Coming to the payment details, it supports various payment methods – credit/debit card payments, bank transfers, and other online payment methods like Neteller and Skrill.

Once you enter all the payment details and the amount, and verify the payment, click on “Confirm” to confirm the transaction. The amount will be deposited into your eToro account.

Step 4 – Buy USDT on eToro

To buy USDT tokens, go to the “Watchlist” section and enter USDT in the search bar. Since USDT is one of the popular stablecoins, you will find it easily. Click on “USDT” and a page with all the details related to the token appears along with the “Buy” option.

Select the Buy option and enter either the amount or the number of USDT tokens you would like to buy. Enter and verify the details and click on “Open Trade” to finally buy USDT tokens. Once the transaction completes, you can check your USDT holdings in the “Portfolio” section on the dashboard.

Conclusion

Holding USDT helps you buy your preferred cryptocurrencies with it when the prices go down. You don’t have to exchange your fiat money for cryptocurrency and waste time and effort in this process when the bear market enters.

Moreover, when you hold your funds in USDT, you don’t have to worry about price fluctuations because its value is always equal to 1 dollar. With this guide, you can buy USDT on eToro, and put it into use when the time is right!

FAQs

How does USDT keep its value?

Tether has reserves in the form of fiat currencies and commodities like gold. The company claims to have reserves that are equal to or greater than the total USDT in circulation. The stability of USDT value comes from its reserves.

Are USDT and USDC the same?

No, USDT and USDC are not the same. While both are stablecoins and pegged to $1 US dollar, USDT is issued by Tether Limited and USDC is issued by Centre Consortium. They also share other differences like market cap, adoption, reserve management, divisibility, etc.

How does USDT make money?

USDT charges fees when users exchange US dollars for Tether and vice versa. This is the major source of revenue for Tether. Additionally, it also earns interest on its reserves of US dollars.