How to Add USDT to MetaMask in 2023 (Simple Guide)

As a cryptocurrency entrepreneur and MetaMask user for over 3 years, I often get asked: "How do I add Tether‘s USDT stablecoin to my MetaMask wallet?"

It‘s a great question because USDT plays a vital role in the crypto ecosystem. Its market cap recently surpassed $70 billion, making it one of the most widely used stablecoins.

In this step-by-step guide, I‘ll show you exactly how to add USDT to MetaMask on Ethereum mainnet so you can start using this popular stablecoin in your blockchain transactions.

Overview of USDT and Why It‘s Useful

Before we get into the actual steps, let me briefly explain why you may want to add USDT to your MetaMask wallet in the first place.

USDT or Tether aims to peg its value to the US dollar. This makes it act as a stable cryptocurrency in an otherwise highly volatile crypto market.

Here are some of the main benefits of using USDT:

  • Hedge against crypto price volatility
  • Seamless transfers between different exchanges/protocols
  • Easy fiat on-ramp for investing in other cryptos
  • Useful for decentralized trades, lending, payments etc.

In fact, USDT handles over $10 billion worth of transfers daily across different blockchains like Ethereum, BSC, Solana etc.

That‘s why having USDT in your MetaMask wallet gives you easy access to this essential liquidity tool for all your blockchain activities.

Now let‘s see how to actually add USDT in a few quick steps.

Step 1: Install and Set Up MetaMask Wallet

If you already have MetaMask installed, make sure you‘re logged into the correct wallet. If not, here is how to quickly install and set up MetaMask:

  1. Go to metamask.io
  2. Click Download
  3. Install the MetaMask extension for your browser
  4. Create a new wallet and save your backup seed phrase securely

πŸ‘‰Pro Tip: Enable password and other security features in MetaMask to protect your wallet. Store your seed phrase offline.

Step 2: Switch Network to Ethereum Mainnet

If you want to add the standard ERC20 USDT token, you need to be on Ethereum mainnet.

  1. Open your MetaMask extension and click the network dropdown
  2. Select Ethereum Mainnet if not already set

Step 3: Get USDT Token Contract Address

Every token on Ethereum (and other EVM chains) has a unique contract address that identifies it. Here is how to find USDT‘s contract address:

  1. Go to CoinMarketCap‘s USDT page
  2. Scroll down and copy the Contract Address under Ethereum

It should be:

0xdAC17F958D2ee523a2206206994597C13D831ec7

πŸ‘‰Pro Tip: You can also find this on Etherscan. Always verify contract addresses before using.

Step 4: Add USDT Custom Token in MetaMask

With USDT‘s contract address copied, adding the token is very easy:

  1. In your MetaMask wallet, click Import Tokens at the bottom
  2. In the import tokens page, select the Custom Token tab
  3. Paste the USDT contract address
  4. Enter symbol as USDT and decimals as 6
  5. Click Add and confirm

That‘s it! USDT should now show in your MetaMask assets.

You can now send, receive, and trade USDT seamlessly via MetaMask. Pretty straightforward right?

Storing and Trading USDT in MetaMask

Once added to your wallet, here is what you can do with your MetaMask USDT:

  • Store it safely – Being an ERC20 token, USDT enjoys the security benefits of Ethereum
  • Trade it for other tokens on DEXs like Uniswap, Sushiswap etc.
  • Lend it on DeFi protocols to earn interest
  • Spend it directly at merchants accepting USDT payments
  • Use it as collateral for crypto-backed loans

In 2021 alone, over $12 billion worth of USDT was traded on decentralized exchanges daily, showcasing its immense utility in crypto commerce.

Transferring USDT from Other Chains

While the above steps work for adding standard USDT on Ethereum mainnet, Tether also exists on other chains like BSC, Tron etc.

You can identify which network your USDT is on from the wallet/exchange it is currently held.

Then simply use the appropriate USDT contract address for that chain, adjust your MetaMask network accordingly before adding the token.

For example, USDT contract address on Binance Smart Chain is:

0x55d398326f99059fF775485246999027B3197955

So switch network to BSC Mainnet, enter this contract address and you can add BSC-based USDT tokens!

Risks and Security Tips

While USDT itself is quite stable in value due to its USD-peg, here are some risks to keep in mind:

  • Fake/Phishing websites – Beware of fake MetaMask extensions that try to steal your funds
  • Malware/Viruses – Use a trusted antivirus and don‘t install random files
  • Transaction errors – Double check addresses and amounts before sending
  • Volatile ETH fees – Sending during peak times can result in high gas fees

Some tips to enhance security:

  • Use a hardware wallet like Ledger/Trezor for storing large amounts
  • Create a separate USDT wallet for trading vs long term holdings
  • Enable 2FA authentication and other security features in MetaMask
  • Frequently check USDT peg to monitor any deviations

Conclusion

I hope this guide gives you a good overview of how to add USDT tokens to your MetaMask wallet in just a few clicks!

As you can see, integrating this popular stablecoin unlocks a range of opportunities from trading on DEXs to earning yields in DeFi.

Let me know in the comments if you have any other questions. Happy to help onboard you to blockchain-based stablecoins!