so what to do with USDT ?!

[aliitp2]

hi guys

am new here, but  i have been holding 0.95 BTC since more than 2 years now, just today am getting into exchanges and i picked Binance, i was trying to sell a small amount 0.0061 BTC through their Trading Platform, and i managed to sell it, but i was surprised when i found my BTC was sold for yet ANOTHER cryptocurrency called USDT !!! then what is the point am selling for  am selling to get FIAT in exchange, now am stuck with yet another crypto in my binance wallet which i cant store on my trezor, can someone advise on any reputable exchange where i can trade BTC to actual FIAT and then withdraw to my bank account ?

My second question how to go about this USDT i ended up with >! how to get FIAT in exchange for it ?? Binance P2P wont buy ur USDT in small amounts, they need at least 1000 to exchange to USD 

need help figuring this out.

thanks,

[Sativanaka]

There is some others way to do cash out. Binance is not one of those, yet.

Their P2P market still really young. If you want USD just buy again an use another service such, hodlhodl, Bisq, Paxful or regulated exchanges like Coinbase, Bistamp, Kraken, etc to get money straight to your bank account...

[ralle14]

Trade it back to Bitcoin or transfer it to another exchange that accepts USDT. You shouldn't have any problems with USDT since it's a popular stablecoin traded on several exchanges. If you're going to a centralized exchange you'll have to do KYC and that'll take time for verification but if you prefer p2p you can also check the Currency Exchange section.

[HakaseMarui]

its a stable coin, its for you to trade and hodl if you doesnt want to be affected with the volatility of the market.

[pankaj1234]

Usdt has been a stable coin to deal with market.everytime when market looking to dump,  it is always beneficial to convert your Cryptocurrencies into usdt. Usdt market has been started by lots of exchanges so you can buy crypto with your usdt. Everybody should know that usdt can not too much pump or dump so it will not destroy you equity when you convert your crypto in usdt. You shouldn't have any problems with USDT since it's a popular stablecoin traded on several exchanges.

[sheenshane]

USDT is a stable coin you can sell it back to BTC and withdraw from exchange. You need to find a local exchange that you may convert your BTC to fiat. If your purpose to convert your BTC to fiat no need to use Binance.

You can use these exchanges that may support Bank transfer.

• BestChange.com
• LocalBitcoins.com
• CEX.IO
• Coinbase

..and there are lot more just use google search bar engine.

[michellee]

I guess you made a bitcoin pair usdt by coincidentally because that is what trader did if they want to make a profit in USDT or bitcoin. You can use USDT to buy bitcoin back if the bitcoin price is down so you will get more amount with some dollars.

I don't know where you can trade bitcoin to fiat because that will depend on the local exchanges. But if you want to withdraw to your bank account, you can use Binance to withdraw the money. But maybe you need to find your local exchange so, with a local exchange, you can withdraw to your bank account.

How if you buy bitcoin again with the USDT amount that you already have, and then you send the bitcoin to your local exchange so you can sell your bitcoin to your fiat, and the local exchange can send the fiat to your bank account.

[hugeblack]

Stablecoins are models to stabilize the price against fluctuations to maintain the value of profits compared to the dollar, and therefore there is no real use of those currencies except in trading within the platforms.
USDT is the most popular model and therefore you will not have difficulty converting to fiat, but it is better to convert it back into BTC and then sell it normally.

Bitcoin price may go up quickly so to avoid losing it's best to sell them quickly.

[aliitp2]

There is some others way to do cash out. Binance is not one of those, yet.

Their P2P market still really young. If you want USD just buy again an use another service such, hodlhodl, Bisq, Paxful or regulated exchanges like Coinbase, Bistamp, Kraken, etc to get money straight to your bank account...

unfortunately most of those regulated exchanges r either not supported in my country or look really suspicious to me ! no need to get into details, but i cant even activate my account on bitstamp because my country is not listed there ! coinbase is NOT supported where i live, so am down to kraken now and i have a simple question, is working with them as simple as:-

- create account
- get it verified
- deposit funds in BTC (they call it XBT)
- sell my XBT for USD (NOT USDT)
- my money is USD will show up in my kraken account (real Fiat)
- I will withdraw it to my bank account in my own country of residence, or even hopefuly paypal.

plz clarify this to me,

thanks,

[coupable]

There is some others way to do cash out. Binance is not one of those, yet.

Their P2P market still really young. If you want USD just buy again an use another service such, hodlhodl, Bisq, Paxful or regulated exchanges like Coinbase, Bistamp, Kraken, etc to get money straight to your bank account...

unfortunately most of those regulated exchanges r either not supported in my country or look really suspicious to me ! no need to get into details, but i cant even activate my account on bitstamp because my country is not listed there ! coinbase is NOT supported where i live, so am down to kraken now and i have a simple question, is working with them as simple as:-

- create account
- get it verified
- deposit funds in BTC (they call it XBT)
- sell my XBT for USD (NOT USDT)
- my money is USD will show up in my kraken account (real Fiat)
- I will withdraw it to my bank account in my own country of residence, or even hopefuly paypal.

plz clarify this to me,

thanks,

If kraken is suitable for your condition and your country of residence is not restricted to use it, then you can go with it. It's a regulated exchange, old player in the crypto markey, safe, and no complaints against it as far as i know. There always p2p option available in marketplaces like Paxful, localbitcoins, localcrypto...
If you can tell what is your country, you will get better suggestions from users here.

[Chikito]

so am down to kraken now and i have a simple question, is working with them as simple as:-
- create account
- get it verified
...

Where you come from?. Kraken has restricted countries like Afghanistan, Cuba, Iran, Iraq, North Korea,Tajikistan and Japan. also, does not offer service to residents of Washington state and New York. so be careful.

Kraken offers fiat currency, if you want trading $ USD must be ready KYC level 2 (ID verification and Resident). so do not confident too much.

Also,they don't support Paypal.

[1]. https://insidebitcoins.com/cryptocurrency-exchanges/kraken-review#Supportedcountries
[2]. https://support.kraken.com/hc/en-us/articles/360000382423-Deposits-or-withdrawals-via-third-party-payments-processors-TPPPs-

[buwaytress]

Most important question to answer first is where you are, and which jurisdiction applies to you. Don't go Localbitcoins if you're from the US, for example, you don't want to go to jail.

If you're outside the US, chances are you can easily use Bitpanda without verification for that amount of Tether. Deposit it directly to them, and request bank payment. Not advertising, but it works easiest for Tether across almost all jurisdictions.

[gentlemand]

unfortunately most of those regulated exchanges r either not supported in my country or look really suspicious to me ! no need to get into details, but i cant even activate my account on bitstamp because my country is not listed there ! coinbase is NOT supported where i live, so am down to kraken now and i have a simple question, is working with them as simple as:-

- create account
- get it verified
- deposit funds in BTC (they call it XBT)
- sell my XBT for USD (NOT USDT)
- my money is USD will show up in my kraken account (real Fiat)
- I will withdraw it to my bank account in my own country of residence, or even hopefuly paypal.

plz clarify this to me,

thanks,

If Kraken is your main choice then you're in luck. Kraken is also one of the very few exchanges with a direct USD/USDT market. You can send your USDT straight there and exchange it for USD. No need to lose extra in trading fees and volatility. Kraken's USD set up is pretty creaky compared to elsewhere but at least it exists.

https://trade.kraken.com/charts/KRAKEN:USDT-USD

[CryptohunterX]

If Kraken is your main choice then you're in luck. Kraken is also one of the very few exchanges with a direct USD/USDT market. You can send your USDT straight there and exchange it for USD. No need to lose extra in trading fees and volatility. Kraken's USD set up is pretty creaky compared to elsewhere but at least it exists.

https://trade.kraken.com/charts/KRAKEN:USDT-USD

How much cost fee withdrawl USD in Kraken?

[gentlemand]

How much cost fee withdrawl USD in Kraken?

It's all here - https://support.kraken.com/hc/en-us/articles/360000423043-Fiat-currency-withdrawal-options-fees-minimums-and-processing-times-

But I'm not sure how good their USD banking is compared to EUR. They seem to have used piece of shit third party payment processors in the past who've caused users problems. I'm not sure what their current set up is at the moment.

[CryptohunterX]

How much cost fee withdrawl USD in Kraken?

It's all here - https://support.kraken.com/hc/en-us/articles/360000423043-Fiat-currency-withdrawal-options-fees-minimums-and-processing-times-

But I'm not sure how good their USD banking is compared to EUR. They seem to have used piece of shit third part payment processors in the past who've caused users problems. I'm not sure what their current set up is at the moment.

May be next time i'll try kraken. But thanks for your suggestion

[aliitp2]

There is some others way to do cash out. Binance is not one of those, yet.

Their P2P market still really young. If you want USD just buy again an use another service such, hodlhodl, Bisq, Paxful or regulated exchanges like Coinbase, Bistamp, Kraken, etc to get money straight to your bank account...

unfortunately most of those regulated exchanges r either not supported in my country or look really suspicious to me ! no need to get into details, but i cant even activate my account on bitstamp because my country is not listed there ! coinbase is NOT supported where i live, so am down to kraken now and i have a simple question, is working with them as simple as:-

- create account
- get it verified
- deposit funds in BTC (they call it XBT)
- sell my XBT for USD (NOT USDT)
- my money is USD will show up in my kraken account (real Fiat)
- I will withdraw it to my bank account in my own country of residence, or even hopefuly paypal.

plz clarify this to me,

thanks,

If kraken is suitable for your condition and your country of residence is not restricted to use it, then you can go with it. It's a regulated exchange, old player in the crypto markey, safe, and no complaints against it as far as i know. There always p2p option available in marketplaces like Paxful, localbitcoins, localcrypto...
If you can tell what is your country, you will get better suggestions from users here.

Am a resident of the UAE, kraken seems to allow trading from where i live, but am just wondering, if i sell say huge sum almost 1 BTC on their trading platform in exchange for fiat (mainly USD) will kraken honor the withdrawal of the fiat to my bank account in my country or scam me just like someone might suspect ?...

[schuriken]

hi guys

am new here, but  i have been holding 0.95 BTC since more than 2 years now, just today am getting into exchanges and i picked Binance, i was trying to sell a small amount 0.0061 BTC through their Trading Platform, and i managed to sell it, but i was surprised when i found my BTC was sold for yet ANOTHER cryptocurrency called USDT !!! then what is the point am selling for  am selling to get FIAT in exchange, now am stuck with yet another crypto in my binance wallet which i cant store on my trezor, can someone advise on any reputable exchange where i can trade BTC to actual FIAT and then withdraw to my bank account ?

My second question how to go about this USDT i ended up with >! how to get FIAT in exchange for it ?? Binance P2P wont buy ur USDT in small amounts, they need at least 1000 to exchange to USD 

need help figuring this out.

thanks,

btc/usdt is for traders not holders .ofc in the end u can sell your btc or usdt witch depends on your country.but usdt is more safe to keep .if im going to sell btc first i change it to usdt because usdt is alwasy 1 usd .or for trade if i see price will go down i change my btc to usdt and wait for drop and then i buy btc again.

[Slow death]

I can suggest that you use CEX.IO, you must do KYC (you will have to hand over your passport, proof of address and a selfie holding your bank card) or you can exchange bitcoin to paypal and then you will withdraw the money from your paypal account  to the bank (just add your bank card to your paypal account )... but be careful with exchange bitcoin to paypal because it is full of scammers, I exchange with this user: @shasan and I use Cex.io for a long time

[gentlemand]

btc/usdt is for traders not holders .ofc in the end u can sell your btc or usdt witch depends on your country.but usdt is more safe to keep .if im going to sell btc first i change it to usdt because usdt is alwasy 1 usd .or for trade if i see price will go down i change my btc to usdt and wait for drop and then i buy btc again.

USDT is 'safe' in the sense that it's supposed to remain at a set price. It's not safe in any other way. It's possible the $1 peg will collapse. It's also possible USDT will disappear completely. I'd never spend any significant amount of time parked in it especially when there are enough real dollars out there.