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How to Buy Tether (USDT) in India
As mentioned above, the safest and easiest way to buy Tether (USDT) in India is with the OKX exchange. Their platform offers instant and cheap INR deposits from all Indian Banks via UPI Transfer or standard bank transfer to buy USDT. OKX also offers Tether staking for investors to earn up to 10% APY on their platform.
You can get started in 4 simple steps:
- Sign Up: Create an account on OKX and complete your verification.
- Find the Buy Page: Select the 'Buy Crypto' tab in the navigation menu.
- Deposit Funds: Select INR and USDT and input the amount you want to deposit.
- Buy Crypto: Click 'Buy USDT' and select your payment method. We recommend using 'BuyUCoin' to facilitate a UPI Bank Transfer to deposit INR onto OKX.
What are the Fees to Buy Tether?
The fees to buy Tether (USDT) on OKX depend on the payment method used. UPI Bank Transfers are free, while debit card and credit card deposits may incur a fee of 1% to 3%. Fees for buying USDT and other cryptocurrencies from OKX start at 0.1%.
Is Tether (USDT) Legal in India?
The legal status of stablecoins like Tether (USDT) in India is uncertain. The Reserve Bank of India (RBI) issued a circular in 2018 prohibiting regulated entities from providing services to individuals or businesses dealing in cryptocurrencies, including stablecoins. This ban was later overturned by the Supreme Court of India in 2020, but the government is currently in the process of drafting new regulations for the cryptocurrency industry. Until those regulations are in place, the legal status of stablecoins in India remains uncertain.
Final Thoughts
The best way to buy Tether (USDT) in India is through a regulated cryptocurrency exchange like OKX. Investors can deposit Indian Rupee (INR) via Bank Transfer, Debit Card or Credit Card to quickly and securely purchase USDT and other crypto assets with low fees. Before investing, it's important to research the legal status of stablecoins in your country and be aware of any potential risks.
