Tether (USDT) is always a good choice of token to have as a crypto trader to escape the volatile market condition. This stablecoin is all you need for instant trading as it has the same value as the US dollar.
A wallet is important to store your USDT. Choosing the best USDT wallet is therefore a priority for crypto traders and investors.
What is a Tether (USDT) Wallet?
A Tether (USDT) wallet is a piece of software that stores the data you need to access your Tether funds.
Every wallet has a public key, which is like an account number, and a private key, similar to a password. The keys are made up of a string of letters and numbers that correspond to your encrypted wallet software.
How To Choose Best USDT Wallet
There are several factors to consider when choosing the best USDT wallet for your needs. Top of these factors is customer support and ease of use.
It is important to note the different types of Tether tokens. They are USDT-Omni, based on the Omni layer of the Bitcoin blockchain, and USDT-ERC20, based on Ethereum. Other blockchains are used less commonly to host Tether.
USDT can be hosted on different networks, it is important to note that certain wallets will only support one type of Tether.
Another important thing is that some wallets support a number of currencies, or even exchange to allow you to swap Tether directly from your wallet.
To choose the best USDT, you’ve to make research on the different types of Tether wallets. The features & limitations that come with each one are factors to look out for.
Best USDT Wallets In 2021
Here are some of the leading USDT wallets to help you make the best choice when storing your funds. They are listed below in no particular order;
- Crypto Wallet: This is a mobile wallet designed to solve many of the problems you’ll find in other solutions. Asides from USDT, you can use this wallet to store Bitcoin, Ethereum, Litecoin and Ripple. You can also trade these cryptos in its in-app exchange, or buy crypto with EURO and Pounds Fiat currencies. These are just a few of the uses of the crypto wallet.
- Tether Wallet: This is a mobile wallet designed specifically for the storage of USDT funds. It is a straightforward solution for beginners. It has a number of security features including 2-step authentication, and users can swap Tether for other crypto assets.
- MyEther Wallet (MEW): This is an open-source solution you can use to store Tether and ether. It offers support for hardware wallets such as Ledger and Trezor. The desktop version of this wallet is relatively secure as the funds are stored in the user device rather than on a remote server. The code is open-source, allowing users to freely audit it.
- Omni Wallet: This is a non-custodial web wallet used to store Tether on the Omni protocol. It is hosted on the Omni blockchain, one of the blockchains established to support USDT. Users control their own keys, appealing to crypto die-hards but potentially alienating users seeking custodial support.
- Coinomi: This is a multi-currency wallet that supports all types of USDT. Its main strength lies in its wide selection of currencies, with over 1,000 supported cryptos as well as the option to host on a desktop computer or mobile phone. The Coinomi wallet supports both main types of Tether.
- Binance Wallet: This is offered by the most popular and widely-used exchange in the crypto industry, Binance crypto exchange. The Binance exchange wallet supports all kinds of Tether as well as the many other cryptocurrencies offered on the exchange. It offers security features such as 2FA.
- Ledger Nano X: This is a handsome wallet that supports over 1,000 cryptos including Tether (USDT). Ledger offers excellent security by keeping funds in “cold storage,” meaning the funds are kept offline when not in use. Hardware wallets are considered the most secure wallets.
Read Also: Is It Safe To Invest In USDT?
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