How to Buy Tether (USDT) in India

Can I Buy USDT in India?

Yes, USDT (Tether) is available for purchase in India through cryptocurrency platforms that accept Indian Rupees (INR). For legal compliance, investors should choose an Indian exchange that adheres to Reserve Bank of India (RBI) regulations and supports popular payment options like UPI, Paytm and bank transfers from major local banks.

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How to Buy Tether (USDT) in India

To buy USDT (Tether) in India, consider using a globally recognised exchange like Bybit, trusted by over 25 million users. Bybit offers access to over 1,100 cryptocurrencies, including USDT, and supports instant INR deposits via UPI, Paytm, bank transfers, Google Pay, and other convenient methods.

Here’s how to purchase USDT with INR on Bybit:

1. Create an Account: Go to the Bybit website and sign up for a new account.
2. Deposit INR: Log in and fund your account using online banking or a credit card.
3. Locate USDT: Access the trading section and find the USDT/INR pair.
4. Complete the Purchase: Enter the INR amount you wish to convert to USDT and execute the trade.

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INR to USDT Fees

Converting INR to USDT in India incurs fees, including deposit, trading, and withdrawal charges, which vary across exchanges. Typically, trading fees range between 0.1% and 0.5%.

Bybit offers a competitive 0.1% fee for both maker and taker orders, making it a cost-effective choice compared to Binance, which often charges over 0.2%. Bybit's lower fees and strong liquidity make it a preferred option for reducing costs in USDT transactions.

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Is Tether (USDT) Legal in India?

Yes, Tether (USDT) is legal to buy, sell, and hold in India. However, it’s essential to note that cryptocurrencies, including USDT, are not recognized as legal tender by the Reserve Bank of India (RBI). While you can trade and store USDT, these activities operate outside the traditional regulatory framework, meaning they are not protected under Indian banking laws. Users are fully responsible for the associated risks.

The Indian government and the RBI are in the process of developing a comprehensive regulatory framework for digital assets. This evolving framework could provide more clarity and security for the use of cryptocurrencies like USDT in India.

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Bottom Line

In summary, buying USDT in India is legal and easily done through exchanges like Bybit, which comply with RBI regulations and offer secure payment options. Bybit’s low fees and high liquidity make it a practical choice for converting INR to USDT.

However, users should be aware of the current lack of regulatory protection and stay updated as India’s digital asset regulations evolve, potentially providing greater security and clarity.