By James Davis
Like any other cryptocurrency, USDT (Tether) operates on the blockchain. The major difference between USDT and other crypto assets like Bitcoin is that its value is pegged to a stable asset, USD. For this reason, it falls under the “stablecoin” category. USDT is the most used stablecoin, with a market valuation of over $82 billion.
Are you looking to buy USDT? Well, you will need a secure wallet to store the digital currency. We will explore the top options for storing Tether in this article.
How to Select a USDT (Tether) Wallet
Whether you want a cold or hot wallet, the first thing you must consider is its security features. Having a crypto wallet that offers top-notch security is important as it assures the safety of your digital assets. Moreover, check whether the wallet is easy to operate to give you a good user experience.
Leading USDT Wallets
Ledger Nano X
One of the most popular hardware wallets is Ledger Nano X. The wallet has a proper security feature known as Blockchain Ledger Operating System that allows users to store their USDT without worrying about an unauthorized party accessing their assets. Also, Every wallet owner receives a seed phrase necessary to regain access to their USDT if they forget their password.
Moreover, Ledger Nano X’s built-in battery lets users use the wallet for up to 6 hours. To make transfers or buy more USDT tokens, go to the Ledger Live app.
Coinomi
With over one million users, Coinomi is a non-custodial crypto wallet that has gained the trust of many crypto users in recent years due to its modern security features that block bad actors from accessing users’ digital assets. The wallet’s easy-to-understand user interface allows starters to navigate it easily.
Besides Tether, you can store 133 other cryptocurrencies in Coinomi. Furthermore, the wallet supports 120 blockchains.
One massive concern within the crypto circle is the Coinomi developer’s decision to make the wallet’s code closed-source after several years of being open-source. The move has prevented other developers from identifying vulnerabilities in the code.
MyEtherWallet
Unlike Coinomi, MyEtherWallet’s code is open-source. Alongside USDT, you can use the wallet to store non-fungible tokens (NFTs) and several ERC-20 tokens. MyEtherWallet is available on Google’s Play Store and Apple’s App Store.
There are no hidden fees charged when using the wallet. You only have to pay the applicable gas fee to transfer your USDT tokens.
In terms of security, MyEtherWallet is self-custodial, so users have total control over the wallet’s private keys. Unfortunately, it lacks two-factor authentication, which many of its competitors employ.
Tether Wallet
This wallet was developed by the team behind Tether. It only supports the storage of this stablecoin. Tether Wallet runs on several operating systems, including Android, Windows, and iOS.
Tether Wallet has improved its security features since suffering a $30 million exploit in June 2017. It now has two-factor authentification and revolutionary encryption techniques that ensure private keys are safe.
eToro
eToro has been known to be a reliable investment platform. But did you know it allows investors to store digital currencies like USDT? The platform currently supports the storage of eight crypto assets. You can access it via a browser or its mobile app, available on the Play Store and App Store.
Regarding your funds’ safety, eToro employs the two-factor authentication method and lets users access their wallets using biometrics. Moreover, the platform is regulated by top-tier authorities like the Gibraltar Financial Services Commission (GFSC). Therefore, there is little to zero chance that eToro will run away with your USDT.
Trust Wallet
This wallet accommodates both inexperienced and experienced crypto investors thanks to its user-friendly interface. Popular crypto exchange Binance acquired Trust Wallet a few years ago, boosting the wallet’s credibility. It now has over 5.7 million users. It’s worth mentioning that its connection with a centralized exchange does not make it a custodial wallet. Trust Wallet allows users to take responsibility for their private keys.
You can trade your USDT tokens within the wallet using the built-in swapping platform.
Conclusion
All the six crypto wallets we have discussed are strong options for storing your USDT tokens. However, new crypto investors are advised to check out Trust Wallet and Coinomi since they are beginner-friendly.