Is Buying Tether (USDT) Legal in Egypt?

No, Egyptians cannot legally buy, trade, or promote Tether (USDT). Law No. 194 of 2020 prohibits all unlicensed crypto activity, and the Central Bank of Egypt (CBE) has never issued licenses, making these activities formally illegal.

The framework is strict on paper, with penalties of imprisonment and fines up to EGP 10 million. However, enforcement has been limited, and most major global exchanges continue to accept Egyptian users. This creates a gray area where residents access USDT despite the prohibition.

Investors should understand the risks: using offshore platforms may expose them to legal consequences, frozen funds, or scams.

How to Buy Tether (USDT) in Egypt

The best way for Egyptians to buy Tether (USDT) is through Bybit, a global exchange serving over 160 countries. Bybit’s peer-to-peer (P2P) marketplace makes it simple to purchase USDT in Egyptian pounds (EGP) using transfers from local banks such as the National Bank of Egypt (NBE) and Banque Misr.

Bybit lists over 2,000 cryptocurrencies with deep liquidity on USDT pairs. Investors also have access to stablecoin yield products, offering opportunities to earn passive income after completing a purchase.

Step-by-step guide to buying USDT on Bybit with an Egyptian bank:

1. Create an Account: Register on Bybit and complete KYC verification to activate deposits and trading.
2. Enter Amount and Currency: Go to the One-Click Buy page, select EGP, and enter the amount you wish to spend. The platform will display the USDT equivalent.
3. Select Payment Method: Choose P2P and filter for sellers who accept your bank (e.g., National Bank of Egypt or Banque Misr).
4. Confirm Purchase: Transfer funds through your bank, confirm the payment, and receive USDT directly into your Bybit wallet.

EGP to USDT Fees

Egyptian investors converting Egyptian pounds (EGP) into Tether (USDT) should understand the key costs involved. Here’s a breakdown of typical fees:

• Deposit Fees: Buying USDT through Bybit’s P2P marketplace using banks such as the National Bank of Egypt or Banque Misr generally has little to no deposit cost. Card payments or third-party intermediaries may charge between 1% and 2%.
• Withdrawal Fees: Converting USDT back into EGP through P2P usually carries minimal cost. Sending USDT to an external wallet requires paying blockchain network fees, which fluctuate with network activity.
• Trading Fees: On Bybit, spot trades incur about 0.1% per transaction. For futures or higher-volume trading, a maker-taker model applies, with maker fees near 0.02% and taker fees around 0.055%.

Tip: To reduce costs, prioritize P2P bank transfers and trade on exchanges with transparent fee schedules like Bybit.

Best Exchanges for Buying USDT in Egypt

Beyond Bybit, several global exchanges offer EGP funding through P2P transfers and provide active USDT trading markets, giving investors additional options. Here’s a quick comparison of the leading platforms Egyptians use to buy USDT with EGP:

Tax Implications for Tether (USDT) in Egypt

Egypt does not have a dedicated tax framework for cryptocurrencies like Tether (USDT). However, profits from crypto trading may fall under standard income tax rules, with rates ranging from 10% to 25% for individuals and 22.5% for corporations. The Egyptian Tax Authority (ETA) can scrutinize undeclared crypto income as taxable earnings.

Unlike listed securities on the EGX, which now face only a 0.1%–0.115% stamp duty, crypto remains outside the regulated financial system. 

This creates legal uncertainty: while there is no formal capital gains tax on USDT, investors risk penalties under Law No. 194 of 2020 for unlicensed activity.

Final Thoughts

Buying USDT in Egypt remains legally prohibited, but many residents still use offshore exchanges through P2P transfers.

If you decide to proceed, weigh the risks carefully, use reputable platforms with strong security records, and keep detailed records of your activity for potential tax obligations. 

Staying informed about Egypt’s regulatory stance and limiting exposure to trusted exchanges like Bybit or BitOasis can reduce legal and financial risks while giving you access to stablecoin markets.