USDT is a token that the company Tether pegs to the US dollar. Ukrainians have three main ways to buy it for hryvnia: an exchange, P2P and quick card purchase. There are also exchangers, but their terms cannot be checked against official sources. Below we describe how the first three work according to the help centers of WhiteBIT and Binance as of October 2026, what they cost, and where the risks hide.
This material is for information only. It is not investment advice and not a call to buy or sell.
What USDT Is and What It Means for the Buyer
USDT is issued by Tether. According to its official pages, each Tether token is pegged to the corresponding currency at a 1-to-1 ratio (1 USD₮ = 1 USD) and is backed by the company’s reserves at 100%. At the same time, Tether explains that its reserves include not only cash and cash equivalents but also other assets, in particular claims on loans that Tether has extended to third parties. Another important clarification from the company itself: Tether tokens are not money; they are digital tokens for use on blockchains.
Tether usually publishes daily data on the number of tokens in circulation, and reserve reports once a quarter. According to the company’s FAQ, these reports are prepared by the independent accounting firm BDO Italia, using the standards of the International Auditing and Assurance Standards Board (IAASB). Tokens can be redeemed for dollars under the terms of an agreement with Tether, and clients of the company are subject to its own KYC procedure. According to Tether’s FAQ, individuals can work with the tokens through platforms that support them, that is, through exchanges and P2P services.
The market price of USDT is set by supply and demand, so it can deviate slightly from one dollar. WhiteBIT states directly in its help center that the exchange does not influence the price of USDT.
Important. USDT is not the official dollar rate. The official hryvnia-to-dollar rate is set by the National Bank of Ukraine (NBU), while the price of USDT in hryvnia is set by the market of a specific exchange or by a P2P ad. For how the official rate is formed, see the article What Drives the Dollar Rate in Ukraine, and the current NBU values are on the USD/UAH page.
Three Ways to Buy USDT for Hryvnia
| Method | How it works according to the official description | What is known about the cost |
|---|---|---|
| Exchange: spot pair USDT/UAH | You top up your balance in hryvnia and buy USDT with an order. WhiteBIT has this pair in its public markets API (13.10.2026): the minimum order amount is UAH 45, the minimum volume is 1 USDT | Fee of 0.1% for takers and makers, plus the fee of the deposit method |
| Quick card purchase (Quick Top Up on WhiteBIT) | You select hryvnia as the payment currency and pay by card. You can choose USDT or another asset; in the second case, the USDT is converted automatically. The transfer timer is 30 minutes | The rate shown before confirmation already includes the conversion fee |
| P2P Express (WhiteBIT) | The exchange is carried out by a third-party P2P service: you transfer hryvnia from card to card using the details the system shows. You must upload the receipt within 30 minutes | There is no separate fee; the rate corresponds to the counter-offer on the P2P platform and may change |
| P2P marketplace (Binance P2P) | A deal with another user. The exchange blocks the seller’s cryptocurrency (escrow) for the duration of the deal | For hryvnia, the buyer pays the payment provider’s fees, while the seller receives the full amount |
On WhiteBIT, the list of currencies available for P2P Express depends on the country of verification. For Ukraine, it is hryvnia.
Exchange, P2P or Exchanger: How to Choose
An exchange suits you if you buy regularly and want clear fees. Besides the trading fee, take into account the cost of the deposit method. The advantage of this approach is that the order is executed in the exchange’s queue, without searching for a counterparty.
P2P suits you when you need a specific payment method, for example your bank card. The deal is concluded between two people; the exchange blocks the crypto for the duration of the deal and handles appeals, but it is not a party to the deal. Therefore, the platform’s rules and your attentiveness when paying matter more here than on an exchange. A detailed step-by-step guide to Binance P2P is in the article Binance P2P: How to Buy and Sell Crypto for Hryvnia.
Exchangers and deals “from hand to hand.” We could not check the terms of such services against official sources, so we do not consider them. There is no special regulation under the law on virtual assets (No. 2074-IX) yet: its card shows the status “Not yet in force”. If you decide to use such a service, check everything yourself.
Step by Step: P2P Express on WhiteBIT
- Complete verification. Without it, deposits and “Buy Crypto” are not available.
- On the home page, open the “Buy Crypto” section and then P2P Express. You can also find it on the hryvnia deposit page: “Balances” → “Wallet” → “Deposit” next to UAH.
- Select the deposit option “Your WhiteBIT account.”
- Enter the exchange amount. The system will show how much USDT will be credited.
- Enter the number of the card you will pay from, and tick the box confirming that you agree: the deal is carried out by a third-party provider outside the exchange.
- Make the transfer in your bank’s app, using the details the system provided.
- Upload the receipt (up to 5 MB, in JPG, JPEG, PNG or PDF format) within 30 minutes of creating the request, otherwise it will be cancelled, and confirm the payment.
- Follow the status in the P2P Express section. According to WhiteBIT, this usually takes from a minute to an hour.
Tip. Pay from the card whose number you entered in the request, and only to the details the system shows. For WhiteBIT’s Card Transfer method, the exchange states directly that a payment from another card will be cancelled.
Which Network to Choose: TRC20, ERC20 and Others
Tether says its tokens exist on several blockchains and should be regarded as equivalent and interchangeable. The list of supported protocols includes, among others, ERC20 (Ethereum and other networks), TRC20 (Tron), Solana, TON, Aptos and Near. In practice, this means USDT on one network cannot simply be sent to an address on another. Tether’s FAQ advises checking the destination address carefully and choosing the right protocol.
The withdrawal fee depends on the network. WhiteBIT’s help center article about its fees page says the fee for the same stablecoin may differ by network, and the fee table shows the network in its “Name” column. On the fees page itself, WhiteBIT notes that the withdrawal fee depends on the blockchain fee and the asset price and may change without notice. Therefore, check the current fees in the exchange’s tariffs directly before withdrawing.
A practical rule: first find out which network the recipient supports, then select it on the exchange, and only after that paste the address. For the first transfer, it is useful to send a small amount as a test.
Risks
- Composition of reserves. Tether explains that its reserves also include claims on loans. Read the reserve reports on the company’s transparency page, not just the statement about 100% backing.
- Restrictions in the EU. In its documentation, WhiteBIT states that since 30 December 2024, accounts from the European Economic Area cannot deposit or withdraw USDT, because Tether has not received an electronic money license in the EU. If you live in the EU or plan to move there, check the availability of USDT on your exchange. More on the differences from USDC is in the article Stablecoins: What They Are and How USDT Differs from USDC.
- Payments from third parties. In P2P, money arrives at or leaves the accounts of specific people. Binance prohibits payments to third-party accounts and does not support payment methods where the real name has not been confirmed. For WhiteBIT, you must pay from the card you specified.
- Banks. Frequent transfers involving P2P may attract a bank’s attention. What the law and the NBU say about this is explained in the article How to Withdraw Crypto to a Ukrainian Bank Card.
- Legal status. The same applies to USDT as to other cryptocurrencies: the separate law has not come into force, and back in 2017 the regulators warned that such operations take place at one’s own risk.
Frequently Asked Questions
Is verification required to buy USDT for hryvnia?
On WhiteBIT, verification is required for deposits, withdrawals and the “Buy Crypto” section. On Binance, P2P requires identity verification, SMS confirmation and at least one two-factor authentication device.
What is the minimum amount for buying USDT?
According to the public markets API of WhiteBIT (13.10.2026), in the USDT/UAH pair the minimum order amount is UAH 45 and the minimum volume is 1 USDT. For P2P Express and P2P on Binance, the minimum and maximum limits are set by the provider or the seller and are visible in the ad.
Can USDT be worth something other than exactly one dollar?
Yes. Tether claims a 1-to-1 peg and 100% reserves, but the market price on an exchange or in P2P is set by the market. WhiteBIT explicitly states that it does not influence the price of USDT.
What is the difference between TRC20 and ERC20?
These are different networks on which USDT exists: TRC20 runs on Tron, and ERC20 runs on Ethereum and compatible networks. Withdrawal fees depend on the network, and not every wallet or exchange supports every network. The main rule is that the sender’s and the recipient’s networks must match.
Can I convert USDT back to hryvnia and withdraw it to a card?
WhiteBIT has P2P Express for exchanging USDT for hryvnia to a bank card. According to the exchange’s description, the exchange is carried out by a third-party P2P service, and the process usually takes from a minute to an hour. For the risks of withdrawing to a card, see the article How to Withdraw Crypto to a Ukrainian Bank Card.
Do I have to pay tax if I buy and sell USDT?
The Tax Code (version of 17 September 2026) contains no separate rules on virtual assets, and bill No. 10225-d has not been adopted as a whole. The State Tax Service explains in its clarifications how the general rules apply to income from virtual assets, so check them on tax.gov.ua or with a tax adviser. For more, see the article How to Withdraw Crypto to a Ukrainian Bank Card.
