Summary: UK-based investors can legally purchase the stablecoin Tether (USDT) through FCA-approved platforms like Uphold. This process involves account creation, fund deposit from a UK bank account or card, and purchasing USDT with GBP. Costs for these transactions can vary, but platforms like Uphold offer zero deposit fees and only a 0.1% conversion fee. Despite cryptocurrencies like USDT not being directly regulated by the FCA, they operate under its guidelines, making it crucial for investors to be aware of associated risks and costs.
Best Exchange to Buy Tether (USDT) in UK
- Buy Tether (USDT) with zero fees and fast GBP deposits from any UK Bank or Debit/Credit Card.
- Offers over 200+ cryptocurrencies and 14 other stablecoins to buy, sell, hold and stake with high interest.
- Regulated in the UK & Europe and has audited Proof-of-Reserves for customer funds.
Can You Buy Tether USDT in the UK?
Yes, investors residing in the United Kingdom have the ability to purchase USDT, otherwise known as Tether, via credible exchanges in the UK and regulated by the Financial Conduct Authority (FCA). These platforms facilitate transactions in British Pounds (GBP) directly from UK bank accounts or associated credit cards. Across the UK, these cryptocurrency exchanges provide a safeguarded, regulated platform for procuring digital currencies and stablecoins like Tether (USDT).
How to Buy USDT in the United Kingdom
Purchasing USDT in the UK is straightforward, thanks to clear digital asset regulations. Begin with an FCA-approved platform like Uphold, allowing secure GBP deposits for Tether purchases. Uphold stands out with its FCA license, diverse portfolio of over 10 stablecoins, and 200+ cryptocurrencies, all with zero trading fees.
Here is how you can get started seamlessly:
- 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 Purchase USDT with GBP?
The charges associated with buying Tether (USDT) using British Pounds (GBP) can vary depending on the chosen exchange. Notably, on prominent platforms like Uphold, users can enjoy zero deposit fees for transferring GBP via bank transfer, with only a nominal 0.1% conversion fee to acquire Tether (USDT). This is markedly more economical compared to other options such as OKX and Bybit, which impose up to a 0.2% fee to purchase USDT on their platforms.
Is USDT legal in the United Kingdom?
In the United Kingdom, the acquisition and utilisation 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 cryptocurrency usage, indicating they're not directly overseen by the FCA and that consumers should be cognizant of the associated risks. It's also noteworthy that the FCA currently does not supervise entities that issue or trade cryptocurrencies, such as Tether Limited.
In conclusion, purchasing Tether (USDT) in the United Kingdom is indeed possible and lawful, thanks to regulated and credible platforms like Uphold. These exchanges facilitate GBP transactions directly from UK bank accounts or associated cards, ensuring security and convenience.
Despite not being directly supervised by the FCA, Tether, like other cryptocurrencies, operates under the agency's guidelines. It's important for investors to be aware of the associated risks and fees, which, with exchanges such as Uphold, are kept minimal. This provides an economical and secure opportunity for those in the UK to invest in cryptocurrencies.
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.