Summary: UK residents can legally and securely purchase Tether (USDT) through regulated cryptocurrency exchanges such as Kraken, supervised by authorities like the Financial Conduct Authority (FCA) in the United Kingdom. Transfers in British Pounds can be conducted smoothly from UK bank accounts or linked credit and debit cards to compliant digital currency investment platforms.
While trading fees may vary among exchanges, Kraken offers competitive rates for British investors, starting at 0.16% per trade. Besides Tether, Kraken provides access to over 200 other crypto assets to trade within the UK, including popular stablecoins like USD Coin (USDC) and the decentralised stablecoin, DAI. Aside from trading, it also offers staking services, allowing users to earn a yield on their USDT.
- Instant and free GBP deposits from any UK Bank via Faster Payments, BACS, credit cards and more.
- Trade and stake over 200 crypto assets (including Tether USDT) with industry-leading fees and tight spreads.
- Founded in 2011 and trusted by over 9 million investors.
Can I Buy Tether in the UK?
Yes, if you're in the UK, you can securely purchase Tether and various other cryptocurrencies. This can be accomplished through authorised UK digital asset exchanges that are regulated by the Financial Conduct Authority (FCA). Such oversight ensures a smooth process for transferring British Pounds from your local bank accounts and debit or credit cards. These platforms offer a supervised environment for managing your crypto transactions.
How to Buy USDT in the UK
For investors in the UK interested in purchasing Tether or other stablecoins and crypto assets, Kraken stands out as a top choice. As a licensed UK exchange, Kraken integrates seamlessly with domestic bank accounts, making it easy to deposit funds through Faster Payments, BACS, or debit or credit card transactions. Kraken is regulated by the Financial Conduct Authority (FCA), and it offers over 200 cryptocurrencies, including USDT.
Here's a short guide to starting your crypto journey in the UK:
- Sign up with Kraken and undergo the identity verification process.
- Use the 'Funding' function to transfer British Pounds (GBP) from your UK bank account.
- Choose your desired deposit method and specify the amount you plan to transfer.
- Once your account is funded, search for USDT or the crypto you wish to purchase and initiate your trade.
Is USDT Legal in the United Kingdom?
In the United Kingdom, the acquisition of cryptocurrencies, including USDT, is lawful. However, it's crucial to recognise that regulatory stipulations surrounding cryptocurrencies and corresponding activities like buying, selling, and utilising them differ globally. The Financial Conduct Authority (FCA) in the UK has provided guidelines regarding crypto usage. It's also noteworthy that the FCA currently does not supervise entities that issue or trade digital currencies, such as Tether Limited.
GBP to USDT Fees
The fees for purchasing Tether using British Pounds (GBP) can vary depending on the selected exchange. Specifically, on well-known platforms like Kraken, users can benefit from competitive rates starting at 0.16% per trade for buying USDT with GBP. The exact charges may differ based on factors like trading volume and the method of depositing GBP, such as wire transfer or BACS. Kraken's fees appeal to UK citizens interested in crypto investment, including acquiring USDT.
Final Thoughts
In conclusion, British investors looking to purchase Tether can do so legally and securely through regulated exchanges like Kraken. Supervised by the Financial Conduct Authority (FCA), these platforms offer a safe environment for crypto investments, with seamless transfer options from UK bank accounts or credit/debit cards. Though the FCA's regulations don't oversee entities like Tether Limited directly, they guide the proper conduct of exchanges within the UK.
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.
