Summary: Indian investors can buy USDT (Tether) via trusted Indian cryptocurrency exchanges like OKX. Transactions can be made using Indian Rupees from local bank accounts or credit cards.
The process of buying USDT includes registration, navigation to purchase, deposit specification, and purchase confirmation. Fees range from 0-3% depending on payment methods. OKX also offers Tether staking with up to a 10% APY.
Best Exchange to Buy USDT in India
Platform Highlights
- Instant and cheap Indian Rupee (INR) deposits to buy Tether (USDT) in India.
- Trade & stake over 300 Cryptos with low fees and tight spreads.
- Feature-rich platform with Staking, an NFT Marketplace, OKX Chain, OTC Support & more.
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Can you Buy USDT in India?
Yes, Indian investors can buy USDT, or Tether, through trusted Indian cryptocurrency exchanges endorsed by the Reserve Bank of India (RBI). These platforms enable transactions in Indian Rupees (INR) from Indian bank accounts or associated credit cards. Known and esteemed throughout India, these crypto exchanges offer a secure, regulated environment for delving into the complex universe of USDT purchase and cryptocurrency trading.
How to Buy Tether (USDT) in India
The safest and easiest way to buy Tether (USDT) in India is with the OKX exchange. Their platform offers fast and cheap Indian Rupee (INR) deposits via bank transfer, credit card, debit card UPI transfers and other methods to buy USDT with low fees. OKX also offers Tether staking for investors to earn up to 10% APY on their platform.
Here is a simple 4 step guide to buying USDT in India with our recommended platform:
- Registration: Set up an account on OKX and finalize your user verification.
- Navigate to Purchase: Choose the 'Buy Crypto' option located in the navigation bar.
- Initiate Deposit: Specify INR and USDT, then enter the desired deposit amount.
- Confirm Purchase: Select 'Buy USDT', followed by your preferred payment method.
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
In conclusion, Indian investors are well-equipped to safely purchase Tether (USDT) through trustworthy exchanges like OKX. With seamless transactions in Indian Rupees from local banks or credit cards, investing in cryptocurrency has become more accessible. Notably, OKX extends an opportunity for investors to earn through Tether staking. Despite the uncertain legal status of cryptocurrencies in India, the 2020 overturning of a previous ban by the Supreme Court indicates a changing landscape, with new regulations on the horizon.
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Author
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
