Tether (USDT) is the most popular stablecoin, and the most traded digital asset globally. This is because of its widespread use for payment, considering its stability. It is a stablecoin pegged to the U.S. dollar, meaning each USDT is roughly worth a USD.
The demand for USDT keeps increasing as people realize its practicality for use as a currency. If you’re one of those considering the use of USDT for payment or even just saving your money as a hedge against inflation in your country, you’ll need a wallet to securely hold your USDT.
There are many wallets, but choosing which one to use can be a challenge, because wallets are built for the same purpose of securing crypto assets, but their functions vary slightly depending on their design.
For example, if you’re a beginner in the crypto space, you may wish to use a simple, beginner-friendly wallet. If you’re more experienced however, you wouldn’t mind using a more complicated wallet, as long as it is more secure or has other features you like.
Whatever level of experience you are at, there’s a wallet for you, and here are some of the best that you can use to hold your USDT.
MyEtherWallet (MEW)
This is an Ethereum based wallet, designed for ERC-20 tokens. Since Tether USDT is an ERC-20 token, MEW is perfect for it. Launched in 2015, it is a non-custodial wallet, meaning you get to control your private keys.
It is basically a mobile-based wallet supported on both Android and iOS devices, but there’s also a web version you can use. You will not be charged fees for receiving or holding USDt on this wallet, transaction fees will only apply when you send the tokens out.
The wallet also supports non-fungible tokens (NFTs) of the ERC-71 standard, and also has its own NFT collection. Admittedly though, MEW is quite complex to use and may not be suitable for beginners.
Metamask
Metamask is a browser extension wallet. You don’t need to install any app on your computer to use it, you only need to install the browser extension. The wallet was initially designed for Ethereum and supported tokens, so USDT fits the bill.
It is quite an easy wallet to use, and anyone can set it up and use with reasonable ease. Being a hot wallet, it is ideal for short-term traders, and it is considered one of the most secure hot wallets that support USDT.
You can use Metamask with all major web browsers, and you can synchronize it with the mobile app for both Android and iOS devices. It is also a non-custodial wallet you can use with a PIN or password.
Ledger wallets
Ledger is a leading security company that produces hardware wallets of the Ledger Nano series. They are hardware cold wallets, which means they are highly secure since cold wallets are offline wallets.
The wallet supports many ERC-20 tokens, including USDT. This wallet is suitable for everyone, including new and experienced crypto users who intend to hold their USDT for a long time. While hot wallets like Metamask are good for short-term storage, they aren’t good for long-term storage.
Therefore you should consider using one of these if you are a hodler. They may be expensive initially, but they are a good investment for securing your USDT.
Coinbase Wallet
Coinbase wallet is another top choice when it comes to USDT, especially for beginners. It has the reputation of having a simple and plain design that makes it possible for anyone to easily navigate. The wallet supports USDT and hundreds of other ERC-20 tokens.
The wallet is only available for Android and iOS mobile devices, and isn’t connected to Coinbase exchange in any way. Being a non-custodial wallet, you retain full control of the wallet and manage your own private keys.
If you’re a beginner and you don’t mind Coinbase fees which can be higher than for most wallets, Coinbase wallet will be a perfect fit for you.
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