Tether (USDT) is one of the most widely used stablecoins in the cryptocurrency market, providing traders with a stable digital asset pegged to the US dollar. If you are wondering whether Coinbase supports USDT and how you can buy, sell, or trade it, this guide will answer all your questions.
Does Coinbase Support USDT?
Yes, Coinbase supports USDT, but with some limitations. Initially, Coinbase did not list Tether due to regulatory concerns and its centralized nature. However, as of 2021, Coinbase has added support for USDT trading, deposits, and withdrawals on select blockchains.
How to Buy USDT on Coinbase
If you want to purchase USDT on Coinbase, follow these simple steps:
Step 1: Create and Verify Your Coinbase Account
Go to Coinbase and sign up if you don’t have an account.
Complete the identity verification process to access full trading features.
Step 2: Deposit Funds into Your Account
You can fund your account using a bank transfer, debit card, PayPal, or cryptocurrency.
Ensure you have enough balance to buy USDT.
Step 3: Search for USDT
Navigate to the “Trade” section and search for USDT.
Select the USDT trading pair you want (e.g., USDT/USD, BTC/USDT, ETH/USDT).
Step 4: Buy USDT
Enter the amount you wish to purchase.
Review the transaction details, including fees.
Confirm the purchase to complete your order.
Supported Blockchains for USDT on Coinbase
Coinbase currently supports USDT on the Ethereum (ERC-20) blockchain. This means you can deposit, withdraw, and trade USDT as an ERC-20 token. However, support for USDT on other blockchains like Tron (TRC-20), Binance Smart Chain (BEP-20), or Solana is not yet available on Coinbase.
How to Withdraw USDT from Coinbase
If you want to send USDT to another wallet or exchange, follow these steps:
Go to the “Assets” section and select USDT.
Click “Send” and enter the recipient’s wallet address.
Ensure that the receiving wallet supports ERC-20 USDT.
Confirm and submit the transaction.
USDT Fees on Coinbase
Trading Fees: Coinbase charges a small fee for buying and selling USDT.
Withdrawal Fees: Sending USDT to an external wallet requires a network fee based on Ethereum gas fees.
Deposit Fees: Depositing USDT into your Coinbase account is free, but sending USDT from an external wallet may have transaction costs.
Alternatives to USDT on Coinbase
If you prefer other stablecoins, Coinbase also supports:
USD Coin (USDC) – A fully regulated stablecoin backed by US dollars.
Dai (DAI) – A decentralized stablecoin pegged to USD.
Conclusion
Yes, Coinbase supports USDT, but only as an ERC-20 token on the Ethereum blockchain. You can buy, sell, trade, deposit, and withdraw USDT through Coinbase, but always verify the supported network before making transactions. If you need stablecoin alternatives, USDC and DAI are also great options available on Coinbase.
