Starting today, Coinbase supports Tether (USDT), a widely recognized stablecoin, across its platform—including Coinbase.com and the Coinbase mobile apps (Android and iOS). Users can now buy, sell, convert, send, receive, and store USDT seamlessly.
Key Features of USDT on Coinbase
- Availability: Supported in all Coinbase regions except New York State.
- Trading: Accessible on Coinbase Pro for advanced traders.
- Blockchain Support: Currently, only ERC-20 USDT (Ethereum network) is supported.
What Is Tether (USDT)?
Tether (USDT) is a stablecoin pegged 1:1 to the US dollar, designed to minimize price volatility. Issued by Tether Limited, USDT maintains its value through reserved assets backing each token. With a market capitalization exceeding $30 billion (as of 2021), USDT dominates the stablecoin market.
👉 Explore more about stablecoins
Why Is USDT Important?
- Stability: Ideal for traders seeking refuge from crypto volatility.
- Liquidity: Widely used across exchanges and DeFi platforms.
- Transparency: Backed by reserves (though audits remain debated).
Coinbase’s Commitment to Expanding Crypto Offerings
Coinbase prioritizes user demand for diverse crypto assets. To accelerate listings:
- Streamlined Process: New asset evaluation frameworks.
- Educational Tools: Informational pages (e.g., USDT) and a learning portal.
FAQs
1. Can I transfer USDT to Coinbase from other blockchains?
No—only ERC-20 USDT (Ethereum network) is supported.
2. Why isn’t USDT available in New York?
Due to local regulatory restrictions on stablecoins.
3. How does USDT maintain its peg?
Tether Limited claims reserves back each USDT, though independent audits are limited.
4. Are there fees for USDT transactions?
Yes, standard Coinbase fees apply for trades and conversions.
5. Will Coinbase add other stablecoins?
Yes, the platform continuously evaluates new assets based on user demand.
How to Get Started
- Sign up for Coinbase.
- Complete identity verification.
- Deposit funds and start trading USDT.
Note: Cryptocurrencies are volatile—research assets thoroughly before investing.
Disclaimer: Third-party links are for informational purposes only. Coinbase does not endorse external content.
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