Tether (USDT) is the most popular and liquid stablecoin in the entire cryptocurrency market. With so many exchanges to choose from, these are the best platforms to trade Tether against Bitcoin and most major altcoins.
Tether (USDT) is controversial, but there’s no denying that it is the de facto leader of all stablecoins. Every day, the stablecoin boasts some tens of billions of dollars in trading volume. Its high liquidity means that it has become the stablecoin-of-choice for traders looking to secure their gains and avoid short-term risk.
The Best Exchanges to Trade Tether
Being the most popular stablecoin, finding the best exchanges to trade USDT is not difficult. However, it depends on what kinds of trades you are looking to make.
If You Are Margin Trading
If you are feeling particularly adventurous, StormGain is one of the few platforms that boast up to 100x multipliers.
If You Are Futures Trading
There are a few exchanges which offer futures trading for BTC/USDT. However, it is recommended that you do futures trading with USD rather than Tether (USDT) since there are better institutional options, like the CBOE, which are far safer.
However, Binance will soon be releasing their own futures trading platform with trades able to be denominated in USDT. With up to 20x leverage, the platform was announced in July and has yet to be fully rolled out.
If You Are Just a Regular Trader
If you are not interested in either margin or futures trading, then you need to find an exchange which has both a large amount of USDT trading pairs and boasts healthy trading volume.
As of now, these are the best exchanges which match both of these criteria.
Binance remains the best option for traders looking to leverage USDT during market turbulence. The leading cryptocurrency exchange currently has the most USDT trading pairs out of any other options available.
Kucoin is a well-established exchange with almost all its stablecoin-denominated trades being in USDT. Boasting healthy volume, it should be your number #2 pick after Binance.
If you find yourself not wanting to use Binance or Kucoin, Huobi is a noteworthy option. Huobi Global boasts many altcoin pairings with USDT along with healthy trading volume.
Just be aware that Americans are unable to use Huobi Global.
Trading Tether is Easy
If you are looking to park your funds in the short-term either to lock in profits, wait for a dip, or weather a market downturn, then USDT may be for you.
In conclusion, StormGain is the best exchange for Tether-denominated margin trading. Binance should be used for all other trading pairs with USDT, but Kucoin and Huobi Global are also two alternatives worth looking into.
Although we cannot recommend keeping your funds long-term in USDT, there’s something to be said about it being the most liquid stablecoin. That being said, always use caution and, when in doubt, stick with the safest option: Bitcoin.
Do you think Tether (USDT) is safe to park your funds in the short-term? Do you use any other exchanges to trade USDT? Let us know your thoughts in the comments down below.
[Disclaimer: This content is not financial/trading advice. StormGain is a partner exchange of BeInCrypto.]