How to Buy Tether (USDT) in Australia

Can I Buy USDT in Australia?

Yes, you can buy USDT (Tether) in Australia on AUSTRAC-regulated crypto exchanges. These platforms follow local financial regulations, making them a safe option for trading. 

They allow AUD deposits via bank transfer, PayID, debit cards, and other common methods, simplifying the purchase of USDT. To ensure a secure experience, choose Australian exchanges that comply with AUSTRAC’s anti-money laundering standards.

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How to Buy Tether (USDT) in Australia

Australians looking to buy USDT (Tether) can use Kraken, a trusted exchange with over 10 million global investors. Known for its deep liquidity on AUD/USDT pairs, Kraken offers a secure platform regulated by AUSTRAC. It supports access to over 290 cryptocurrencies and features like staking and futures.

Here’s how to purchase USDT with a regulated exchange in Australia:

1. Register and Verify: Create a Kraken account and complete the KYC (Know Your Customer) verification for compliance.
2. Deposit AUD: Head to the ‘Add Funds’ section, select Australian dollars (AUD), and follow the steps to fund your account.
3. Buy USDT: Go to the trading section, choose USDT, and select the AUD/USDT trading pair.
4. Complete Purchase: Enter the amount of USDT you want to buy, review all transaction details, and confirm to finalize.

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AUD to USDT Fees

Understanding deposit, withdrawal, and trading fees is key to managing costs when converting AUD to USDT. Here’s an overview of the fees on Kraken:

• Deposits: AUD deposits via bank transfers (PayID) are free, with a $5 AUD minimum. Credit/debit card deposits may have fees and a $10 AUD minimum.
• Withdrawals: Withdrawing AUD via bank transfer is free, with a $5 AUD minimum. SWIFT international withdrawals cost $55 AUD, with a $150 AUD minimum.
• Trading: For AUD/USDT trading, Kraken’s maker fees range from 0.00% to 0.16%, while taker fees are between 0.10% and 0.26%. Stablecoin pairs like AUD/USDT have fees from 0.00% to 0.20%, based on 30-day trading volume.

Kraken offers a competitive fee structure compared to exchanges like Coinbase, where trading fees for USDT and other crypto assets can exceed 2%.

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Is Tether (USDT) Legal in Australia?

Yes, Tether (USDT) is legal in Australia. Cryptocurrency exchanges must register with AUSTRAC and adhere to Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations, ensuring compliant platforms verify users and monitor transactions.

Although USDT itself isn’t directly regulated, AUSTRAC’s oversight on exchanges improves the safety for users trading stablecoins like Tether.

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Bottom Line

In summary, Australians can securely buy USDT on regulated exchanges like Kraken, benefiting from compliance with strict regulatory standards. With fast AUD deposit options, competitive fees, and deep liquidity on AUD/USDT, Kraken is a reliable choice for Australian users. 

AUSTRAC’s oversight ensures these platforms provide a safe, compliant environment for trading USDT.