How to Buy USDT in the United Kingdom
Buying USDT in the United Kingdom is simple thanks to the clear regulatory status around digital assets and stablecoins. As outlined above, the best way to get started is with an FCA-licensed trading platform that enables investors to securely deposit Great British Pounds (GBP) to buy Tether.
Our top pick is Uphold because they are FCA-Licensed and offer over 10 stablecoins, 200+ crypto assets and more for zero trading fees. Learn how to get started in minutes with their regulated platform:
- Sign Up: Create an account on Uphold and complete your verification (personal or company).
- Connect Account: Select the currency you want deposit on the Uphold Platform (GBP + 30 more).
- Deposit Funds: Connect your UK Bank account or a Debit Card/Credit Card to quickly deposit your selected fiat currency.
- Buy USDT: Find USDT on the platform and input the amount of GBP and select 'Buy'.
What are the fees to buy USDT in the UK?
The fees to buy USDT in the UK depend on the exchange or broker you use. However, Uphold is our top pick for beginners as they have zero trading fees and low GBP deposit fees, making it one of the cheapest options available.
Is USDT legal in the United Kingdom?
In the UK, the purchase and use of cryptocurrency, including USDT, is not illegal. However, it is important to note that the regulation of cryptocurrency and related activities, including buying, selling, and using cryptocurrency, varies from country to country.
In the UK, the Financial Conduct Authority (FCA) has published guidance on the use of cryptocurrencies, stating that they are not regulated by the FCA and that consumers should be aware of the risks involved in using them. It is also important to note that the FCA does not currently regulate firms that issue or exchange cryptocurrencies, such as Tether Limited.
Is USDT Safe?
Like any cryptocurrency, USDT carries inherent risks and is not guaranteed to be safe. Cryptocurrencies are not regulated by any government or financial institution and are subject to significant price volatility.
There are also concerns about the transparency and security of Tether Limited and its operations. Tether has faced criticism and controversy in the past due to its lack of transparency and allegations of manipulation of the cryptocurrency market. In 2019, the New York Attorney General's office launched an investigation into Tether and its affiliated company, Bitfinex, over concerns about the companies' financial stability and the potential for market manipulation.
It is important to carefully consider the risks and potential downsides before investing in or using any cryptocurrency, including USDT. It is also a good idea to diversify your investments and not to invest more than you can afford to lose.
Overall, USDT is a popular stablecoin and can be purchased in the UK with relative ease. The key to getting started is finding an FCA-licensed trading platform that offers zero trading fees and cheap GBP deposits. Uphold is our top pick as there are no fees for buying or selling cryptocurrency and they offer over 200 crypto assets and 10+ stablecoins for users to choose from.
It is important to consider the risks associated with investing in and using cryptocurrency, including USDT, before getting started. It is also wise to only invest what you can afford to lose and to diversify your investments across different cryptocurrencies or assets.