How to Buy Tether (USDT) in South Africa
Introduction to Tether (USDT)
Tether (USDT) is a type of cryptocurrency known as a stablecoin. Unlike other cryptocurrencies like Bitcoin, which can have significant price fluctuations, Tether is designed to maintain a stable value. Each Tether token is pegged to a fiat currency, usually the US Dollar (USD), which means 1 USDT is approximately equal to 1 USD. This makes Tether useful for trading and transactions, providing the benefits of cryptocurrency without the volatility.
How to buy USDT in South Africa?
One of the easiest ways to buy Tether (USDT) in South Africa is through VALR, Africa’s largest cryptocurrency exchange by trade volume. VALR supports the deposits of South African Rands (ZAR), which can then be used to purchase USDT on the platform.
Here's a step-by-step guide on how you can buy Tether (USDT) in South Africa using VALR:
Step 1: Log into Your VALR Account
To get started, sign into your account by heading to VALR's website or opening the VALR app on your phone. If you don't have a VALR account, you can create one here. The verification process is straightforward and only takes a few minutes.
Step 2: Fund Your VALR Account with ZAR
Next, deposit ZAR to your VALR account. This can be done using a South African bank account or a credit/debit card.
For bank transfers:
Head into your ZAR Wallet, select "Deposit," and then choose the "Via EFT" method. Select your bank and use the displayed VALR banking details and your unique VR reference number to transfer Rand to your VALR account. Make sure to use your unique VR reference number as the beneficiary reference when making the transaction via your bank.
For credit/debit cards:
Select the "Deposit" menu after selecting "Wallet" and "ZAR" on the website or app and choose the "Via Credit or Debit Card" option. Enter your card details on the next page. Note that only 3D Secure-enabled cards are accepted, with a rolling 24-hour card limit of 10,000 ZAR.
Step 3: Place the Order
After your ZAR has been credited to your account (instantly for card payments and around 2 business days for EFT transfers), you can use your new fiat balance to buy Tether (USDT) in South Africa. You can purchase USDT in two ways:
1. Via the Simple Buy/Sell service: Select "Buy/Sell" on the website or in the app and click the "Buy" button next to Tether (USDT). Choose ZAR as the currency to pay with, specify the amount of USDT to purchase, and finalise the trade.
2. Via Pro Trading: Select the "USDT/ZAR" pair from the "Pro Trading" menu. Unlike the Simple Buy/Sell service, Pro Trading allows you to set custom order parameters, such as the type of order (Limit, Market, Stop-Limit), the Limit price, and the time in force. After providing these details, as well as the amount of USDT to buy, click "Place Buy Order" to complete the transaction.
If you’re ready to buy Tether (USDT) through VALR but don't have an account yet, sign up and get started in just a few minutes!
Frequently Asked Questions (FAQ)
-
VALR's built-in wallet is an excellent choice for storing USDT in South Africa due to its security features and ease of use directly within the platform.
-
You can buy USDT TRC20 on VALR by purchasing USDT and then selecting the TRON network for withdrawals or deposits of USDT.
-
The VALR app is the best option for buying USDT in South Africa. It offers a user-friendly interface, secure transactions, and supports deposits in ZAR.
-
The VALR wallet is considered one of the best due to its seamless integration with the VALR platform, strong security measures, and ease of use for South African users.
-
Yes, USDT is available in South Africa and can be easily bought on VALR, which supports USDT transactions, making it convenient for local users to access and trade this stablecoin.
Risk Disclosure
Trading or investing in crypto assets is risky and may result in the loss of capital as the value may fluctuate.
VALR (Pty) Ltd is a licensed financial services provider (FSP #53308).
