Summary
Buying cryptocurrencies in Vietnam can be challenging. With over 100 exchanges to choose from, the risk of potential scams is high because there is currently no regulatory framework surrounding crypto. However, there are secure ways to buy Tether (USDT) in Vietnam, such as BloFin, Bybit, or Binance. These are some of the safer options, offering not only a reliable way to purchase crypto through banks but also the ability to buy Tether via P2P trading.
Can I Buy Tether (USDT) in Vietnam?
Yes, buying Tether (USDT) in Vietnam is possible and straightforward, but choosing a secure and reputable exchange is vital due to the lack of regulatory oversight in the country. Cryptocurrencies, while not recognized as legal tender by the Vietnamese government, can still be owned and traded freely by citizens. Despite the absence of a formal legal framework, the crypto market has flourished, with many exchanges operating successfully without requiring financial service provider licenses.
This regulatory gap has also created a unique advantage for investors in Vietnam—cryptocurrency gains are not subject to taxes. As a result, many view digital assets like Tether as a lucrative and tax-free investment opportunity.
How to Buy Tether (USDT) in Vietnam Using Crypto Exchanges
BloFin is a relatively new exchange launched in 2019 by Matt Hu. It does not require KYC for sign-up, making the process quick and simple, and it offers competitively low trading fees. The platform has a high safety index, and it has already gained over 2 million users. BloFin provides both spot and futures trading options, with over 394 spot contracts and 329 futures contracts available. Spot trading fees are set at 0.10%, while futures trading fees range from 0.020% to 0.060%. Additionally, the platform offers leverage of up to 150x, providing traders with substantial flexibility in their positions.
Buy Tether in Vietnam
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1Head over to the BloFin exchange on your browser and complete the sign-up process if you don't have an account yet.
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2Once the sign-up is complete, click on the Buy Crypto button on the navigation ribbon.
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3The BloFin buy page is fairly easy to navigate. Select VND from the fiat dropdown menu, then enter the amount of VND you would like to purchase.
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4After entering the amount, you will see an estimate of the USDT you will receive.
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5Select the most suitable payment method from the list of available options, then click on Buy Now to proceed with entering your billing details and completing your transaction.
Best Alternatives to BloFin for Buying Tether
If you prefer not to use BloFin to buy Tether (USDT) in Vietnam, there are several great alternatives that allow you to make purchases using Vietnamese Dong in a similar manner.
Binance
Binance, the world’s largest cryptocurrency exchange with a user base of 240 million, offers a variety of trading options such as spot trading, futures, and copy trading. Once you purchase USDT, you can access over 414 cryptocurrencies for spot trading, with a 0.1% trading fee for both makers and takers. If you’re not planning to trade immediately, Binance’s “Earn” products allow you to earn returns on your USDT by keeping it idle in your account.
Bybit
Bybit is a KYC-compliant platform that enables users to buy and sell over 660 cryptocurrencies on the spot market, as well as trade futures with access to more than 386 contracts.
With support for VND (Vietnamese Dong), Bybit is an excellent choice for purchasing Tether in Vietnam, thanks to its solid reputation and high trading volume. New users on Bybit can earn bonuses of up to $30,000. With strong security measures and top-tier customer support, Bybit stands out as one of the most reliable platforms for buying Tether in Vietnam.
VND to USDT Fees
When it comes to BloFin, the platform itself doesn’t impose any direct fees. However, you can purchase Tether (USDT) through various third-party platforms, each with its own fee structure. These fees can differ from platform to platform. Other popular exchanges also follow a similar model, where fees are typically charged by the third-party services they integrate with.
Is Tether (USDT) Legal in Vietnam?
Tether (USDT) is not considered legal tender in Vietnam, meaning it is not officially recognized as a currency by the government. However, the Vietnamese government has not banned the use of cryptocurrencies, and citizens are allowed to buy, sell, and hold digital assets like USDT. There is currently no comprehensive regulatory framework governing cryptocurrency transactions, but the absence of formal regulations doesn’t make USDT illegal to use or trade in the country.
Bottomline
In Vietnam, purchasing Tether (USDT) is straightforward, with secure exchanges like BloFin, Binance, and Bybit offering various options to buy using Vietnamese Dong. While cryptocurrencies are not recognized as legal tender, they are not banned, allowing citizens to trade and hold digital assets like USDT freely. Due to the lack of regulation, choosing a reliable exchange is crucial to ensure safe transactions and avoid potential scams.
FAQs
1. What is the safest way to buy Tether (USDT) in Vietnam?
The safest way to buy Tether in Vietnam is by using reputable crypto exchanges like BloFin, Binance, or Bybit. These platforms have strong security measures, high trading volumes, and user-friendly interfaces. Always ensure you enable two-factor authentication (2FA) for additional security.
2. Are there limits on how much Tether (USDT) I can buy in Vietnam?
The purchase limit depends on the exchange you choose and whether you complete KYC (Know Your Customer) verification. Exchanges like BloFin do not require KYC for smaller transactions, but higher amounts may need identity verification.
3. Can I use local banks in Vietnam to buy Tether (USDT)?
Yes, many exchanges like Binance and Bybit allow you to purchase USDT using Vietnamese Dong (VND) through local bank transfers. Always check if your chosen exchange supports your preferred payment method.
4. Is P2P trading a good option for buying Tether in Vietnam?
P2P (peer-to-peer) trading is a convenient way to buy USDT directly from other users, often with lower fees. However, it requires extra caution—verify the reputation of your trading partner and ensure transactions are completed securely.
5. Can I trade Tether (USDT) for other cryptocurrencies in Vietnam?
Yes, once you purchase USDT, you can trade it for other cryptocurrencies like Bitcoin, Ethereum, or Solana on platforms such as Binance, BloFin, or Bybit.
