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In this article, we will look into the infamous cryptocurrency known as Tether (USDT). If you haven’t heard much about Tether then you should know it is a stablecoin cryptocurrency.
With that, it means it is supposed to remain stable in price. Volatility is otherwise (currently) a very common part of the cryptocurrency market and the prices of different cryptocurrencies.
So why are stablecoins like Tether of interest?
Well, when the value of cryptocurrencies moves up and down in extreme movements it can cause certain problems for us investors (or merchants accepting cryptocurrencies.
For example, it could be common for some to lose or gain 10-20% value each day. This is obviously not always great. Seeing your money lose 20% in value over the course of one day.
- Ff you, for example, you sold some cryptocurrencies for a profit and you wanted to secure your profit but not cash out (sell your cryptocurrencies for Fiat currencies) then buying stablecoins like Tether would help you secure your profits
- Another use case would be if you wanted to send money to someone else across the world for cheap and fast and without volatility, then a Tether would be great for that.
- And if you perhaps wanted to accept cryptocurrencies as a merchant then stablecoins like Tether once again would be good a cryptocurrency to use!
Stablecoins are by many considered as one of the most interesting use cases for cryptocurrencies right here and now in 2020!
So what is Tether?
Tether is one of many stablecoins. Stablecoins are cryptocurrencies that are usually pegged to the value of Fiat currencies, such as the USD, EUR or GBP. That means their value stays close to the value of those Fiat currencies.
And Tether like mentioned is one of a group of stablecoins. It is probably the most well-known stablecoin cryptocurrency today. With a reputation that has attracted both negative and positive sentiment.
Other known stablecoins are USDC (a stablecoin from Coinbase – learn more here), Paxos Standard (a stalbecoin on the Ethereum blockchain – learn more here) and DAI (another Ethereum-based cryptocurrency – learn more here).
But Tether for good or worse is the most popular and most traded stablecoin out of those four. And it is often one of the most traded cryptocurrencies in the world when going by the daily 24-hour trading volume (using Coinmarketcap).
Tether was originally created on the Omni platform which is built on the Bitcoin blockchain. Over time been used on the chains such as Ethereum, Tron, and EOS. The functionality and use case of Tether remains the same whichever blockchain it uses.
1 Tether (USDT equals 1 USD.
However, there has been a lot of attention around the fact if 1 USDT is actually backed by the value of 1 USD. This hasn’t fully been answered in the transparent way the crypto community wants. Rumours have surfaced that Tether Limited’s lawyers have claimed that 1 Tether = $0,74.
But currently, USDT remains widely used and work as set out to. So, for now, it fills its purpose as a stablecoin perfectly.
Best Tether wallets
Now we would never recommend anyone to leave their cryptocurrencies on an exchange. The risks are too high. There are too many hacks to exchanges so that risks are never worth it.
So get yourself a strong separate USDT wallet!
- So if you want to buy or trade USDT on Ethereum and then store them somewhere safely on the Ethereum blockchain then you need to use Ethereum supported wallets for your USDT wallet.
- But if you are planning to use Tron blockchain then your USDT token would exist on the Tron blockchain as a TRC-20 token (learn more about it here). Then you would obviously need to use a Tron based wallet as your USDT wallet.
- And lastly, you can also use the USDT created on the Omni layer for the Bitcoin blockchain
But don’t worry in this article we will recommend some Tether wallets for all blockchains.
For your information – all USDT coins can easily be identified by the wallet address:
- For USDT Tron tokens the wallet address will start on ‘Tx’ –
- And for USDT Ethereum tokens the wallet address will start on ‘0x’
- For original Omni layer (Bitcoin blockchain) USDT the wallet addresses starts on either ‘1’, ‘3’ or ‘bc1’
Best USDT wallet for Omni layer
1 ) Omniwallet – USDT wallet (Omni)
If you have USDT on the Omni layer then a Omni wallet is necessary for storing and accessing your Tethers on the blockchain. A recommended wallet to use is the Omniwallet.
It is a web wallet interface where you can create your own wallet and access your wallet for sending and receiving. The private keys are not stored on any central servers unless in encrypted forms.
Omniwallet is an open-source project. And if you are using the Omni layer Tether then Omniwallet is one of the best USDT wallets to use.
- Learn more about creating your own Omniwallet here
2 ) Coinomi – USDT wallet (Omni)
Coinomi is another option for storing your Omni Tethers. It is available for both desktop and mobile. And it is a multi-currency cryptocurrency wallet (meaning you can store several types of cryptocurrencies there).
Coinomi is an easy-to-use cryptocurrency wallet with a nice UI that does the job of securing your USDTs or other cryptocurrencies.
Coinomi strives to be a complete blockchain agnostic wallet. Used for any type of cryptocurrency with a focus on solid tech. Storing your USDT on Coinomi is another good option.
Best USDT wallet for Ethereum blockchain
3 ) MEW – USDT wallet (ERC20)
MyEtherWallet is one of the most popular web wallets (or web interfaces) where you can access your Ethereum coins or ERC20 tokens. That includes, of course, the USDT Ethereum version.
It is completely free to use the website. You can use it to create a new Ethereum based wallet. Or access your current wallet.
- Learn more about using MEW as your USDT wallet here
4 ) MyCrypto – USDT wallet (ERC20)
Another free web wallet website you could use, similar to MEW is MyCrypto. It does the same type of job as MEW. And you can use it to create a new wallet, access a current wallet (via your private keys or hardware wallet).
5 ) Ledger Nano X – USDT wallet (ERC20)
The Ledger Nano X is the latest upgraded hardware wallet from the Ledger team (the previous model is Nano S).
It comes with the same strong features that made the Nano S so popular but with added Bluetooth as a new feature and additional storage space.
Otherwise, they both remain very similar. And you can use the Ledger Nano X for storing your Tether ERC20 tokens and as your Tether wallet.
- Learn more about the Ledger Nano X for your USDT wallet here
- You can buy yourself a Ledger Nano X here
6 ) Ledger Nano S – USDT wallet (ERC20)
The other popular hardware wallet from the Ledger team is their first crypto wallet, by the name of Ledger Nano S. It remains today a very good wallet to use for storing your USDTs at. Or other popular cryptocurrencies.
The Ledger Nano S supports a range of cryptocurrencies and tokens on the various blockchains. Such as all the ERC20 tokens on the Ethereum blockchain.
It comes with a smaller price than the Ledger Nano X. But without the Bluetooth and smaller storage space.
But overall it remains a perfect cryptocurrency wallet. And definitely one of the best Tether wallets (ERC20).
- Learn more about the Ledger Nano S for your USDT wallet here
- You can buy yourself a Ledger Nano S here
Best USDT wallet for Tron blockchain
6 ) Atomic wallet – USDT wallet (TRC20)
You can use the popular multi-currency cryptocurrency wallet Atomic wallet for accessing your USDT-Tron tokens. Or TRC20 token USDT.
The Atomic wallet is available both for desktop and mobile (from macOS to Windows and iOS and Android and more devices are supported).
Overall the Atomic wallet is a beautiful wallet with a very slick UI. You can easily use it to track your portfolio and do the basic things like sending and receiving coins and tokens.
- Find out more about using the Atomic wallet for storing your USDT TRC20 tokens here
7 ) TronLink wallet – USDT wallet (TRC20)
And lastly we are listing the TronLink wallet for using as your Tether wallet for your Tron blockchain tokens. It is a Tron wallet and Tron token wallet.
Available for both desktop, mobile and as a Chrome extension. So you can access it easily from your most commonly used devices.
The TronLink wallet as mentioned supports both Tron coins but also the TRX20 and TRX10 tokens. And it is a nice looking wallet with all the features needed for a modern crypto wallet.
Which Tether wallet should I choose?
- Well, that depends on which USDT token you are using. For Omni USDTs use an Omni wallet. For Tron, tokens use a Tron wallet. And for Ethereum Tethers use an Ethereum-based wallet.
- If you want a secure crypto wallet for Tether for the long term then we would recommend investing in a hardware wallet like the Ledger wallets. They are by far the most secure wallets.
We hope that this guide to the best Tether wallets was helpful. We have seen other guides that have just covered some of these Tether blockchain cryptocurrencies but not all.
So we wanted to make it super clear that there are currently different types of USDT cryptocurrencies, depending on which blockchain they are created on.
But as a user, you can remain confident that all Tethers work the same. So 1 USDT on Tron or on Ethereum or Omni are all pretty much identical.
1 USDT = 1 $USD. That doesn’t matter which blockchain they are built on.
If you have any questions about this guide then leave a comment below and we will get back to you!
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Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that want to see better and smarter products and services that make our lives better and easier