With the introduction of Tether, converting BTC to USDT became a fast and easy process.
What is Tether?
A stablecoin, Tether was created to be stable enough in its purchasing power. Tether is a cryptocurrency tethered to US dollars.
Why is Tether so important?
Tether makes everyday transactions easier. It offers stability where the likes of Bitcoin have failed.
There are other stable coins as well but Tether was the first one to really take off.
How to buy Tether?
Tether’s coin is known as USDT and maintains a 1:1 ratio with USD. You can buy or acquire Tether in the following ways –
- Exchange crypto coins for Tether: If you have crypto coins, you can easily exchange them for USDT on a reliable cryptocurrency exchange.
- Buy Tether: There are many platforms that allow you to purchase Tether as well. If you’ve ever wondered ‘How to buy USDT with a credit card?’ then today is your lucky day. USDT can be bought with a credit card on several exchange platforms with some level of verification.
Here’s how you can convert BTC to USDT
You must find a good cryptocurrency exchange. To identify a good exchange, here’s what you should look for.
- Support for multiple coins: You should look for an exchange that supports more than a couple of coins. This will allow you greater flexibility in the future.
- Low trading fees: With high volume transactions a high trading fee can drastically affect how much you end up paying for it. Find a platform that has little to no trading fees.
- Low withdrawal fees: Some platforms also charge a very high withdrawal fee making it difficult to control your crypto investment. Always look for an exchange that has low withdrawal fees.
- Inbuilt wallets: If you are new to crypto you will appreciate this feature. An inbuilt wallet on the exchange allows you to store your crypto coins once you convert or buy them.
- Secure: You do not want to use an exchange that is not secure. Make sure that the URL is in https format at the very least.
- Reliable: Look up exchange on news sites dedicated to cryptocurrency to make sure that the exchange was never a part of any scam or was hacked in the past.
Only use an exchange that is very reliable, trustworthy with positive reviews from users.
Although Tether has benefits, it has become part of a lot of controversies. It is believed by many experts that tether doesn’t have the USD to back it up and is currently part of an ongoing lawsuit.
Given that information, you may want a Tether Bitcoin conversion to ensure that you don’t lose out on your investment.
