How to Buy USDT in South Korea

Can I Buy USDT South Korea?

Yes, you can buy USDT (Tether) in South Korea through exchanges operating under local regulations. To do this, choose a platform that complies with South Korean crypto regulations and supports deposits in KRW. Local exchanges like KuCoin, Upbit and Bithumb offer direct deposits from South Korean banks, ensuring secure transactions.

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How to Buy Tether (USDT) in South Korea

To purchase Tether (USDT) in South Korea, KuCoin is a highly recommended exchange. This platform supports South Korean residents and offers access to over 700 cryptocurrencies, including USDT, with instant KRW deposits and market-leading fees.

Here’s how to buy USDT in South Korea on KuCoin:

1. Create an Account: Go to the KuCoin website and sign up.
2. Deposit KRW: Log in and deposit South Korean Won using available methods like bank transfers.
3. Find USDT: Go to the buy crypto section and select USDT/KRW as the trading pair.
4. Buy USDT: Enter the amount of KRW you want to convert to USDT and finalize the purchase.

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KRW to USDT Fees

When converting South Korean Won (KRW) to Tether (USDT), it's crucial to understand the fees involved, including deposit, trading, and withdrawal costs. Trading fees typically range from 0.05% to 0.5%.

KuCoin is a cost-effective choice for South Korean users, offering trading fees as low as 0.06% with robust liquidity. KuCoin also supports instant KRW deposits via bank transfers, Samsung Pay, Apple Pay and more with no extra fees. In comparison, platforms like Upbit may charge higher trading fees, around 1%.

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Is USDT Legal in South Korea?

Yes, USDT is legal in South Korea. However, it is not considered legal tender. The country's new regulatory framework, the Virtual Asset User Protection Act, governs cryptocurrency exchanges, requiring them to meet strict standards such as safeguarding 80% of user deposits in cold storage and monitoring transactions for suspicious activity. 

Trading and holding USDT is allowed, but it’s essential to use regulated exchanges under the  Financial Services Commission (FSC) to ensure compliance with South Korean laws.

While it is legal to trade and hold USDT, using exchanges that comply with these regulations is crucial to ensure the safety and legality of your transactions.

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Bottom Line

In summary, buying USDT in South Korea is possible through regulated exchanges like KuCoin, which adhere to strict regulatory guidelines. Choosing a compliant platform that supports KRW deposits ensures that your transactions align with South Korea's regulatory framework, helping you navigate the complex process of onboarding with crypto platforms smoothly.