Tether (USDT) is a unique coin in the crypto market. As the largest stablecoin by market capitalization, it has become a key asset for facilitating many transactions. If you’ve ever wondered, “What is USDT?” and “How can I turn my USDT to Naira?” stay tuned. We’ll break down Tether and show you how to make a profit from selling USDT online.
USDT or Tether is a type of crypto known as a stablecoin. What makes Tether stable? A group of crypto enthusiasts decided to peg cryptocurrencies to the value of a fiat currency. They pegged it to the US Dollar (USD), which was how USDT was born.
The stability of USDT makes it a popular choice for traders and investors seeking a more predictable value in the crypto market. Today, millions of users trade with USDT without the help of a third-party intermediary.
1. It is a stablecoin
There is a US dollar in reserve for every USDT you have in your crypto wallet. Tether was created to keep a 1:1 with the US dollar, making it reliable and immune to any form of crypto volatility. This makes it easy to convert to fiat because of its stable valuation.
2. It is highly demanded
If you have a Tether, finding a buyer is one of the easiest things to do. There are many traders and investors who need stable coins for various forms of transactions. USDT (Tether) is the cryptocurrency version of cash and shows low volatility, making it the ideal choice for investors.
3. It enables flexible pairing
Being a widely accepted stablecoin, Tether is often used as a trading pair with numerous cryptocurrencies on various exchanges. This means that traders can trade Tether against digital assets like Bitcoin, Ethereum, or others. The flexibility in pairing Tether with various cryptocurrencies gives traders a diverse set of trading options.
Tether (USDT) is pegged with the US dollar 1:1. Hence, if the exchange rate between the US dollar and Naira increases, the value of Tether (USDT) in Naira would also increase. Conversely, this would be the case if the exchange rate decreases. To know Tether’s current price, you can check any online calculator or use the Innixx app. Live rates are updated regularly on Innixx, so you can always know what the market says per time.
To sell Tether on Innixx, you can follow these simple steps:
1. Create an account: Download the app on your Android or iOS device. Click the sign-up icon, input your email and password, and await a verification mail.
2. Verify your mail: Based on Innixx’s security policy, every registering user is required to input their valid email during registration, and that email will be confirmed through the verification.
3. Create a pin and profile: When the registration process has been successfully completed, you are allowed to create a unique 6-digit pin and then your profile on the platform.
4. Deposit your USDT: Click on the “SELL CRYPTO” icon on the platform. Proceed to click on the “CRYPTO TYPE” option and click on “TETHER.”
5. Place the sell order: Input the amount of Tether you want to sell, click the “WALLET TYPE” option, then proceed to copy the wallet address (Tether) and make the transfer.
6. Execute the transaction: Once your sell order is matched, the transaction will be executed. In a few moments, the equivalent of your Tether would be converted and credited to your account.
7. Withdraw funds: You can proceed to withdraw the funds to your desired wallet or bank account.
If you are unsure about the safest platform to sell your Tether swiftly at market price, choose Innixx today. Your asset is secured, and your transaction is initiated and completed within a few minutes. You can download the Innixx app on Android or iOS device to sell your Tether for Naira today.
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