It is known that Saudi Arabia is one of the leading states in the field of work with digital assets. In addition to the fact that the country can freely pay for goods and services using cryptocurrency, the country, together with the UAE, is developing its own currency, which, however, can only be used on the territory of these two states.
At the moment, the joint economic potential of Saudi Arabia and the UAE is estimated at $1.2 trillion dollars, which makes these countries the largest participants in the global financial market. That is the reason why the stablecoin Tether, created on the basis of bitcoin, has gained high popularity in the country, allowing users to increase their personal capital in a legal and modern way.
Saudi Arabia has set a course for the creation of a cashless society, so the acquisition of Tether, as well as other digital currencies, is possible using the services of special exchange services. Itez is an official service from the Estonian regulator, which means complete protection against fraud, confidentiality of each user's data and fast payment processing.
In order to buy Tether, it is not necessary to register on the Itez website. In a handy calculator, you can quickly calculate the cost of USDT based on the amount you plan to use for payment. The smallest purchase amount in dollar terms is 30 USD. By the way, the same applies to the euro - the starting purchase threshold starts at €30. Well, in our instructions, as promised, we will go through all the stages of purchase USDT for dollars step by step.
After converting the currency to USDT, you will see the final result in the "You Get" field and on the "Buy" button. Click the button and enter your email address in the following window.
Confirm your email with a 6-digit code sent to the previously indicated e-mail and click the "Verify" button.
Specify the purchase amount in the Itez dialog box. Copy the recipient address - your USDT wallet - from the “Accept” section.
Important: you should not manually copy the USDT wallet address. The blockchain system does not give any information about USDT addresses problems, and if an error occurs during manual entry, all the buyer's funds may be lost.
For example, this is how the copy address button looks like in the Exodus wallet:
After copying the USDT wallet address, paste it into the dialog box.
Check your data — it is important to make sure that the address is entered correctly.
After pushing the “Card details” button, enter the required card information: card number and expiration date, the cardholder name and CVC-code — three numbers on the back of the card.
Push the “Pay” button and enter the one-time bank code in the following window.
After making a payment on the Itez website, you will immediately be able to see the Tether in your wallet.
The transaction will first wait for confirmations from the blockchain network.
As a rule, this happens quite quickly and in most cases takes no more than a few minutes.
The banking sector in Saudi Arabia is at a qualitatively high level compared to other countries. Due to the fact that almost any bank in the country actively interacts with cryptocurrency, the user can choose the most suitable one based on their personal beliefs and conditions. The list of the largest financial institutions includes Riyad Bank, National Commercial Bank (NCB), SAMBA, Al Rajhi Bank, Bank Al-Jazira and dozens of other innovative banks in the Arab world that cooperate with Tether and other digital assets.
Saudi Arabia traditionally cooperates with the international payment systems Visa and MasterCard. The desire to maintain neutrality in relations with Russia allows users to purchase Tether without an increased commission, regardless of the country. However, the purchase of a UnionPay card for a Russian user will not be superfluous: in modern economic conditions, this payment system will provide faster payment processing.
Cryptocurrency must be stored in an electronic wallet: so all data is encrypted, which is important for users of Arab banks, mainly working with large amounts. The features of electronic wallets cooperating with Tether can be found on the website https://cryptowallet.com/best-tether-usdt-wallets/