How to Buy Tether (USDT) in Vietnam

Can I Buy USDT in Vietnam?

Yes, you can buy USDT in Vietnam. Residents can use Vietnamese cryptocurrency exchanges to purchase USDT with Vietnamese Dong (VND). These platforms comply with local regulations and offer deposit methods such as bank transfers, mobile payments, VNPAY, MoMo, and credit or debit cards.

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How to Buy Tether (USDT) in Vietnam

To buy Tether (USDT) in Vietnam, use a reliable cryptocurrency exchange like Bybit. This platform complies with local and international regulations, ensuring secure trading and support in Vietnamese. Bybit offers over 1,200 cryptocurrencies, including USDT and USDC. You can deposit Vietnamese Dong (VND) via VietQR, bank transfers, Google Pay, and debit or credit cards.

Here’s a simple guide to buying USDT on Bybit:

1. Account Setup: Visit Bybit's website and create an account.
2. Deposit VND: Log in and deposit VND using your chosen method, such as a bank transfer.
3. Locate USDT: Navigate to the trading section and find the USDT/VND pair.
4. Purchase USDT: Enter the amount of VND to convert to USDT and finalize your purchase.

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VND to USDT Fees

When converting Vietnamese Dong (VND) to Tether (USDT), it's essential to understand the fees, including deposit, trading, and withdrawal costs. These fees vary by exchange and typically range from 0.1% to 0.5% for trading.

Bybit is a cost-effective choice for Vietnamese investors trading USDT, with trading fees starting at 0.1% and high liquidity. Bybit also supports VND deposits through methods like bank transfers without any fees, making it more economical than exchanges like Coinbase, which can charge fees over 2%.

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Is USDT Legal in Vietnam?

Vietnam's stance on cryptocurrencies, including Tether (USDT), is cautious but evolving. In 2017, Prime Minister Nguyen Xuan Phuc initiated Decision 1255 to create a legal framework for digital assets, highlighting the country's growing recognition of digital currencies' significance.

However, the State Bank of Vietnam's 2017 announcement declared the use of Bitcoin and similar virtual currencies illegal, imposing substantial fines. Despite this ruling, investors in Vietnam still buy USDT and other crypto assets to avoid currency debasement.

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Bottom Line

Buying USDT in Vietnam is feasible through local cryptocurrency exchanges that support VND deposits and comply with regulations. Bybit is a recommended platform due to its low fees, high liquidity, and secure environment. While the legal status of cryptocurrencies in Vietnam remains cautious, ongoing regulatory efforts suggest potential for a more defined framework in the future.