USDT is the most important currency in the entire crypto world. This is because it is the currency through which digital currencies are invested and purchased, and it is also the currency through which profits are made when you decide to exit and sell. Therefore, it is very important to know how to buy USDT in 2024 in Arab countries such as Egypt, Saudi Arabia, the Emirates, and others, as well as in the whole world.
How to buy USDT in 2024?
In order to buy USDT in 2024 you should know that you will need a centralized platform. Today we will explain two different methods, but in both cases you will need a centralized platform. We recommend the Binance platform because it is the number one in the Arab world and also the most reliable. You can buy digital currencies either by bank card or through the P2P market and we will explain in detail how to do this from the platform.
Remember that USDT is a stablecoin that is used to buy and sell digital currencies. This is because its value is equal to $ 1 at all times. Therefore, it is the encrypted version of the dollar and does not differ from it in anything, which gives it a kind of price stability, which is why traders prefer it because its price is more stable than Bitcoin. It will be very easy to transfer your money from dinars, dirhams or dollars to USDT and vice versa, which is why we always recommend entering the crypto market with USDT and then buying the currencies you want, and after this time to exit, you exit in the same way and sell the currencies to USDT. After this, you sell USDT to your local currency.
Buy USDT with bank card
On the Binance platform, you will be able to buy USDT with a bank card very easily and with minimal fees. However, of course, you will need to create an account on the platform first. After you have created the account, you will need to go through the KYC procedures, which will not take more than an hour in most cases. Once this is done, you will be able to buy USDT very easily from the platform.
Note that the steps will not differ whether you have a bank or credit card, in both cases you will be able to purchase with the same steps. But you must make sure that your bank accepts dealing with digital currency platforms. The laws differ from one bank to another, so you must try to find out. If your bank does not accept the transfer, move immediately to the next paragraph to purchase via the P2P free market.
Steps
The first step will be to enter the Binance app and then click on ADD FUNDS. After that, you will choose the currency you want to deposit in, whether dirhams, dinars, or dollars.
Then you will choose the currency you want to buy and we always recommend buying USDT first and then buying the currency you want to avoid the harsh market fluctuations.
After that, you will choose the appropriate payment method and you will find four options available and these options may change depending on the currency you choose. In this example, we are talking about the UAE Dirham currency, so we have four options. If you can pay directly with MasterCard or Visa, do so because it will be the best way. If Apple Pay is available in your country, you can use it if you have an iPhone.
If you can’t pay with your card, you’ll need an intermediary like Paymonade or Simplex to pay. These are intermediary platforms where you’ll go in and create an account to pay and also go through the KYC process, but it usually only takes a few minutes. Notice how there are more currencies on Paymonade, which means the price is much better, so we recommend Paymonade.
You will create an account on it and after that you will be able to buy with your wallet easily and smoothly. The fees usually range between 2-4% of the transaction value. However, if you cannot buy through Paymonade, we recommend that you do not buy through Simplex due to the very high fees. Follow the method in the next paragraph of the article, which is to buy through the P2P free market. This is the most popular method in the Arab world, but first make sure that it is legal or at least not criminalized in your country.
Buy USDT on P2P
The free market or P2P allows you to buy USDT easily directly from other traders but under the supervision of the platform. What happens here is that the trader will offer his coins for sale and you will enter and choose the appropriate advertisement for you according to the fees, exchange rate and payment method that suits you. After that, the platform will freeze the seller's coins until you deposit cash into his account and after he confirms receiving the funds, you will receive the coins in your wallet on the platform known as funding wallet. You can then transfer them to Spot wallet and buy digital currencies easily. As we said, this method is the most widespread method ever in the Arab world and it is not criminalized in the Arabian Gulf, especially Saudi Arabia, Bahrain and the Emirates.
You must of course go through KYC procedures before you start trading this way as well.
Steps
You will enter the Binance app and click on the Binance logo at the top left to be able to buy USDT.
Then you will search for P2P and click on it.
After that, you will enter the free market and choose the currency you want to buy, which is USDT, and you will choose the currency you want to pay with, whether it is dirham, dinar, riyal, or other. In this article, we will give an example in the UAE dirham, but the steps will not differ depending on the currency.
You will find the user interface like the one below where you have a group of sellers to choose from. You will also find the price of each different seller by choosing the seller you want to sell to, taking into consideration the payment method. If you want to search for a specific payment method or a specific bank to pay, do this.
Click on the seller you want to deal with and read the rules for dealing with this seller. Always adhere to the written rules and also take a screenshot of all your transactions with the seller so that you have proof in case of problems or a dispute with the seller. Enter the number you want to buy with and note that each seller will have a minimum limit to complete the transaction.
Also, don't forget to check out the reviews of this seller from previous buyers to make sure that he is reliable.
You will find the user interface like the one below where you have a group of sellers to choose from. You will also find the price of each different seller by choosing the seller you want to sell to, taking into consideration the payment method. If you want to search for a specific payment method or a specific bank to pay by doing this.
Click on the seller you want to deal with and read the rules for dealing with this seller. Always adhere to the written rules and also take a screenshot of all your transactions with the seller so that you have proof in case of problems or a dispute with the seller. Enter the number you want to buy with and note that each seller will have a minimum limit to complete the transaction.
Also, don't forget to check out the reviews of this seller from previous buyers to make sure that he is reliable.
In general, the more transactions a seller completes, the better. However, in general, it is not in anyone’s interest to scam Binance. This is because it is the best platform ever for buying and selling currencies on the free market. Therefore, if someone commits fraud, they will be banned from dealing on the platform forever and will lose the opportunity to buy and sell at the best prices. Also, the funds are frozen as soon as the transaction occurs, so they will not be able to not give you your money.
Conclusion
You will find other platforms other than Binance where you can buy currencies with a bank card such as Paybit, for example. It was possible to buy from the OKEx platform, but recently this is no longer possible. These laws change all the time because the crypto market is new and therefore there is no clear legal framework to regulate the purchase of currencies through banks. For this reason, the free market is the best and ideal alternative solution. You will always find the best prices on Binance due to the high demand and also the lowest fees. However, platforms such as OKEx and KuCoin are suitable as an alternative. But without a doubt, we always recommend the Binance platform in the Arab world as the first and best solution for buying USDT.
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