Top 7 Best Tether (USDT) Wallets in 2021

If you want to trade crypto, it always helps to have a stablecoin like Tether (USDT) at hand to escape volatile market conditions. Tether is pegged 1:1 to the value of the USD, giving you a stash of crypto dollars for instant trading. Choosing your wallet is an important decision, and not to be taken lightly. Let’s take a look at the best way to store your Tether!

What is a Tether 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, similar to an account number, and a private key, which you can think of as a password. These keys are strings of letters and numbers that correspond to your encrypted wallet software.

We took a look at some of the leading wallets to help you make the best choice when storing your funds.

Related: Best Bitcoin Wallets

How to Choose a Tether Wallet

Several factors go into choosing the best Tether wallet for your needs.

Customer support and ease of use are important.

It’s worth noting that there are different types of Tether tokens.

The most common token types 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.

This sounds more complex than it is! Tether can be hosted on different networks, and the main thing to remember is that certain wallets will only support one type of Tether.

On the other hand, some wallets support a number of currencies, or even an exchange to allow you to swap Tether directly from your wallet.

The best practice is to research the different types of Tether wallets as well as the features and limitations that come with each one. Our list below accounts for these factors, allowing you to make an informed decision for your Tether holdings.

What to Consider When Choosing a Tether Wallet?

The first consideration is the different types of wallets available.
Hardware
Hardware
Desktop and Web
Desktop and Web
Mobile
Mobile

Hardware

Hardware wallets are physical devices that work like a USB flash drive, plugging into your computer or supported device. Hardware wallets store funds offline, adding a layer of security by reducing risk and making it more difficult for hackers to remotely access your funds.

The tradeoff is that these “cold wallets” sacrifice convenience for additional security, as they involve a little more setup than other options and the process of accessing your funds takes more time. These options are less appropriate for instant trading.

Some hardware wallet owners store large sums on hardware wallets and smaller sums online for quick trading. These are also the most expensive option for storing Tether.

Desktop and Web

These wallets are typically accessed through your computer or internet browser. Desktop wallets often store digital currencies on your device, while web wallets typically store the same data on remote servers.

Security is crucial when it comes to these wallets, so it’s important to be aware of whether they offer features like two-factor authentication (2FA) or multi-signature options.

Mobile

Mobile wallets are typically app that allows you to store your Tether coins. These wallets are generally easy for beginners to use. Again, the level of security is a deciding factor here. Not all mobile wallets offer customer support in case something goes wrong, and choosing a mobile wallet partnered with security firms is also a best practice.

An advantage here is the ease of access mobile wallet users enjoy on the go.

Our List of Wallets

Here are the best Tether wallets detailing their features and advantages.

2 Tether Wallet

Tether Wallet is a mobile wallet designed specifically for the storage of USDT funds.

  • Type of wallet: Mobile
  • Purchase cost: Free
  • Own exchange incorporated: Yes
  • Supports: USDT-Omni and USDT-ERC20
  • Ease of Use: Very easy

Pros (What We Like)

Tether Wallet is the official wallet for USDT, and a household name when it comes to storing Tether. It’s a straightforward solution suitable for beginners with a number of security features including 2-step authentication, and users can swap Tether for various other crypto assets.

Cons (What We Don’t Like)

It’s worth noting that the wallet treasuries were hacked in 2017, raising security questions. However, Tether Wallet has since taken quite stringent security measures to protect investors’ funds and reduce the chances of security breaches.

However, the wallet can’t be used to store Bitcoin or many other digital assets, nor can users spend their funds on goods and services directly.

3 MyEtherWallet

MyEtherWallet (MEW) is an open-source solution you can use to store Tether and ether (ETH).

  • Type of wallet: Mobile and desktop
  • Purchase cost: Free
  • Own exchange incorporated: No
  • Supports: USDT-ERC20
  • Ease of use: Easy

Pros (What We Like)

MyEtherWallet offers support for hardware wallets such as Ledger and Trezor. For a non-custodial solution, the desktop version is relatively secure as the funds are stored on the user device rather than on a remote server. The code is open-source, allowing users to freely audit it.

Cons (What We Don’t Like)

This wallet is for ether and ERC20 tokens only, and doesn’t other coins. There is no customer support available, as is typically the case with non-custodial solutions, so there are no staff on hand to help users in the event of lost funds or an issue with the Tether address.

4 OmniWallet

OmniWallet is a non-custodial web wallet used to store Tether on the Omni protocol.

  • Type of wallet: Web
  • Purchase cost: Free
  • Own exchange incorporated: No
  • Supports: USDT-Omni
  • Ease of use: Intermediate

Pros (What We Like)

OmniWallet is a tried and tested wallet that also offers Bitcoin and Omni Token support. It’s 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.

Cons (What We Don’t Like)

The multi-currency support is very limited, and no exchange is available. Omni is suitable for holding Tether and Bitcoin, but sparse on other features, like many Tether Wallets. The UI is a little different from other solutions which some users can find confusing.

5 Coinomi

Coinomi is a multi-currency wallet that supports all types of Tether.

  • Type of wallet: Desktop, mobile
  • Purchase cost: Free
  • Own exchange incorporated: No
  • Supports: USDT-ERC20, USDT-Omni
  • Ease of use: Easy

Pros (What We Like)

Coinomi’s 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.

Cons (What We Don’t Like)

Coinomi doesn’t support fiat currency, and it’s not possible to exchange cryptos with each other or with fiat in the wallet. While it’s suitable for storing various altcoins, Coinomi is a very limited solution when it comes to actually spending crypto. It’s also not possible to spend crypto on any real-world goods or services with Coinomi.

6 Binance Wallet

This solution is offered by the centralized Binance crypto exchange, one of the most widely-used exchanges in the industry.

  • Type of wallet: Web and mobile
  • Purchase cost: Free
  • Own exchange incorporated: Yes
  • Supports: USDT-Omni and USDT-ERC20
  • Ease of use: Intermediate

Pros (What We Like)

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.

Cons (What We Don’t Like)

Binance Wallet doesn’t have an option allowing users to actually spend their cryptocurrency on anything beyond other cryptoucurrencies, making it something of a closed-loop when it comes to usability. There are no banking services attached to the project.

The exchange user interface is also quite a bit more complex than on many competing exchanges.

7 Ledger Nano X

Ledger is a hardware wallet that supports over 1,000 cryptocurrencies including Tether.

  • Type of wallet: Hardware
  • Purchase cost: £109
  • Own exchange incorporated: No
  • Supports: USDT-Omni and USDT-ERC20
  • Ease of use: Advanced

Pros (What We Like)

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.

Cons (What We Don’t Like)

Setups can be complicated for hardware devices, and these crypto wallets are arguably for more advanced users. User friendliness is a tradeoff, and there is no exchange and no banking services or related functionality.

Storing funds on a hardware wallet makes them less accessible than money kept in a online “hot wallets,” as it will take some time to plug in your device and bring funds online for use. This makes Ledger unsuitable for day-to-day use or capitalizing on sudden opportunities on the crypto markets.

Tether Wallet FAQs

What is USDT?

Tether (USDT) is a stablecoin cryptocurrency. Each Tether coin is worth one dollar, and is backed by collateral and loans secured by the Tether Limited company. Traders use USDT to transfer crypto like Bitcoin to USDT in order to escape market volatility and maintain a stable value.

Tether is minted on the Ethereum network as an ERC-20 token as well as on Bitcoin.

What to look for in a Tether wallet

A good Tether wallets should have high standards of security, compatibility with other cryptocurrencies, and usefulness outside of just storing crypto such as external wallet services.

How to Buy Tether (USDT)?

You can buy USDT tokens on the CryptoWallet exchange with a card transaction, wire transfer, or by trading it for other cryptos.

How to manage your Tether (USDT)

You can hold USDT tokens for an unlimited amount of time on CryptoWallet. Funds are insured by BitGo.

Tether Wallet App

Trade Tether or spend it in stores using the crypto debit card. Opening a Tether wallet with CryptoWallet is easy!

World-famous custodian BitGo secures your funds, keeping your wallet safe.

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Tether Wallet App