Tether (USDT) is reigning as the top stablecoin and the third largest cryptocurrency by market capitalisation. Known for its one-to-one pegging with the US dollar, USDT has become a game changer for peer-to-peer (P2P) payments and international transactions in recent years.
If you’re curious about using USDT for more convenient transfers or are wondering how much it costs to send USDT to another user, this read is tailor-made for you.
What Is USDT?
As mentioned, USDT is a stablecoin pegged to the U.S. dollar. For every unit of USDT in circulation, there is an equivalent amount of U.S. dollars held in reserve. This pegging mechanism ensures that USDT combines the speed and convenience of crypto transactions, while offering the stable value of fiat currencies.
Its various use cases—from trading and payments to remittances and a hedge against inflation—underscores USDT’s versatility and the growing acceptance of digital currencies for regular financial transactions.
Why Do People Use USDT to Send Payments?
More individuals and businesses are seeing USDT as a reliable payment method. Some of the main reasons include:
1. Convenient borderless transactions
Blockchain allows you to send USDT and other cryptocurrencies across borders without intermediaries and the need for converting into different national currencies. This simplifies and speeds up international transactions, while reducing costs.
2. Speed
USDT transactions are processed rapidly. In Ka.app, for instance, you can send crypto within seconds. This speed is a stark contrast to traditional banking systems, where international wire transfers can take several days. The quick processing time is particularly advantageous for businesses and individuals who require fast transactions to maintain cash flow or for timely payments.
3. Lower transaction costs
Traditional cross-border transactions may incur high fees, including bank charges and currency conversions. USDT transactions typically have much lower fees, making them a cost-effective alternative, especially for frequent or large-scale international transfers.
4. Accessibility
Anyone with an internet connection and a crypto wallet can use USDT, making it an inclusive option for global transactions, even in regions where access to traditional banking is limited.
5. Security
Again, USDT operates on blockchain technology, which ensures a high level of security and transparency. Blockchain’s centralised nature makes USDT transactions secure and less prone to fraud, a critical consideration in P2P payments and remittances.
How to Send USDT to Another User
Here are two ways to quickly and easily send USDT to someone else using Ka.app:
a. Sending to a Ka.app user
- Sign up for an account.
- Log in on the platform.
- Click/tap the Send icon.
- Enter the mobile number or scan/upload the QR code of the recipient.
- Select USDT from the list of cryptocurrencies.
- Enter the amount of USDT you want to send.
- Confirm the transfer with your passcode.
b. Sending to an external wallet/exchange
- Create a Ka.app account.
- Log in on the platform.
- Click/tap USDT.
- Click/tap the Withdraw icon.
- Get the recipient’s wallet address and paste.
- Enter the amount of USDT you want to send.
- Enter your passcode to confirm.
How Much Does It Cost to Send USDT?
Now let’s go back to your question: How much does it cost to send USDT? The answer is it can vary depending on the platform you will use. With Ka.app, for instance, sending funds to another Ka.app user is free as long as the recipient accepts the payment in the same currency (e.g., sent in USDT and received in USDT).
However, if they receive your USDT transfer in a different token using the Easy Swap feature, conversion fees will apply. These fees can also vary depending on whether you’ve entered a KASTA tier or not. Those who lock up KASTA tokens in the app enter KASTA tiers that offer up to 15% annual percentage yield (APY) and discounted conversion fees as low as 0.376% of the transaction amount.
How Long Does It Take to Send USDT to Another User?
If you’re using Ka.app, sending USDT to another user will take only a few seconds.
Final Thoughts
The stability, efficiency, and accessibility of USDT makes it an increasingly attractive payment option for individuals and businesses across the globe. If you’ve never sent USDT before, Ka.app is a great place to start. Sending with Ka.app is quick, easy, and free of charge—perfect for those just starting out. Create an account now.
FAQ
Do I Need a Bank Account to Send or Receive USDT?
Nope! All you need is a crypto wallet that supports USDT like Ka.app.
Is Sending USDT Safe on Ka.app?
Yes. We use battle-tested technology, and have strong security measures in place to protect your funds and private information against unauthorised access. We also comply with legal requirements that prevent money laundering, fraud, and other illegal activities.
Is There a Limit to How Much USDT I Can Send on Ka.app?
Every Know Your Customer (KYC) level on Ka.app offers a different transaction limit. If you want to make “no limit” transactions, you must complete KYC level 2 or 3.
However, please note that even if you pass KYC level 2 or 3, our compliance team may still review large transactions for security and risk management reasons. If there's anything about your transaction that catches our eye, we may ask you to provide a proof of source of funds or any other document to validate your transaction.
