Where/how to buy and transfer USDT

smurf24

Not quite a saving/investment question, but this section seems to to have a few active people knowledgeable in crypto so I thought it a good place to ask about buying and transferring USDT.

I've pretty much zero knowledge of crypto currency beyond a few bits of info I have picked up generally over the years. Basically, I need to pay 40 USDT to purchase some information. Nothing dodgy, just a slightly obscure manual for a Japanese market only car. There is the obvious risk I could make the payment and receive nothing in return, but for such a relatively small amount I'm willing to take a chance on it.

Can anybody help me with, or point me in the right direction for, a simple method to purchase and transfer USDT?  I don't mind if there is a bit of premium to do this via a simple method, rather than jumping through hoops to save a few pounds. Googling it is just mind blowing 🤯. Thanks in advance.

jefaz07

So you need to buy Tether to send to someone for information? It’s about £31…does that sound the right amount. 

Sign up with a crypto exchange, I use Kraken, then purchase Tether. There will likely be a 24hr period where you can’t transact. 

One you have tether, send to the wallet address of the receiver, making sure you use the right network. 

There will be fees for depositing money and sending the crypto too. 

Scottex99

Yep as above. Sign up to an exchange that supports GBP deposits such as Kraken.

Find the Trade/conversion field and buy your USDT.

Once you’ve got the coins, go to withdrawal and paste the required wallet address. USDT can be on multiple chains with ERC20 and TRC20 being the most popular.

TRC20 will be cheaper.

Good practice for any crypto movements is to send a small test transaction first and get receipt confirned from the other side. For 40 tether you can decide if it’s worthwhile.

Also as you mentioned, once it hits their wallet, it’s permanent, so you rely on their trust to ship the product.

Cheers 

smurf24

Thank you both. I've managed to sign up and now just have to wait out the 24 hour period. TRC20 or BEP20 are the options I have so I'll see what is cheapest and go from there. Thanks very much for your help as it has cleared a way through the swamp of information that comes up via Google. I might potentially lose £30-40 by being scammed, but it won't be the end of the world and I'll learn a little bit about crypto along the way. 

Scottex99

No worries 👍

smurf24

Just a quick follow up to say I got there in the end and also didn't get scammed 👍.

It was an interesting little insight into crypto and I can see how easy it could be to lose a lot of money either by accident or by fraud. In some respects it was just as risky using online transfers in the traditional banking system not so long ago, so it isn't that different to what has gone before it. 

Scottex99

It’s not, no. But it’s highly scalable.

There can be improvements to wallets and user experience between exchanges etc. The power of stablecoins within payments ecosystems is growing too.

My firm took in 10m USDT in one txn on Tuesday this week. Cost the sender $2 and arrived in less than a minute.