so what to do with USDT ?!

[Orosun]

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.

Won't they charge up to 25% of your Bitcoin when converting? Or you haven't consider that yet ?

[sunsilk]

Won't they charge up to 25% of your Bitcoin when converting? Or you haven't consider that yet ?

The conversion depends to the price of bitcoin and that's how it will be converted to USDT. Say, that bitcoin is worth $9,800 then you will get 9700 USDT because it's conversion is 1usdt=$1.

I don't know where you got the idea of charging 25% of your bitcoin when you're just trying to convert/trade your bitcoin with usdt. Exchanges don't even charge that much withdrawal fee when you're withdrawing .

[posi]

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 

USDT is a stablecoin which is pegged to 1$ i.e USDT is a fiat base crypto currency.

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 ?

If Binance supported your country fiat currency what you have to do is withdraw the USDT into your country fiat but you dont need to convert your BTC into USDT next time if Binance does provide fiat withdraw to your country.

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,

You dont need to sell the USDT just withdraw it into your bank account.

[pirate hunter]

buy some weed or wait for the money go brr and buy more bitcoin

[gentlemand]

You dont need to sell the USDT just withdraw it into your bank account.

Point us towards a bank account that accepts USDT. Your answer at the bank is guaranteed to be 100% 'wut'?

It's a crypto specific obscurity and since you can't get Tether themselves to redeem your USDT for dollars, which I thought was kind of the original point, you'll have to find somewhere else that'll turn it into real dollars for you.

[romeojasmin13]

Binance is the most popular exchange. It's not the only one. You can try Coinbase or Coinmama, and don't you mind about P2P selling like LocalBitcoins offers. What's about Tether? I cashed out it via Coinswith again.

[thesmallgod]

If you want your money in fiat which I believe it is your local currency, then you should look for local exchangers in your country and sell directly for them. USDT is a stable coin that people primarily used to prevent asset volatility. It is obvious you do not know much about trading. You should have trying searching before making that trading.

[culuuton]

When selling a small amount of bitcoin other times, you should not trade on global exchanges, you will waste a large fee compared to the amount you trade. It is best to look for small buyers (reputable) or cash exchanges in your country. It's very easy, you can search on the forums, then contact and sell USDT or BTC with them.

[ultrloa]

You dont need to sell the USDT just withdraw it into your bank account.

Point us towards a bank account that accepts USDT. Your answer at the bank is guaranteed to be 100% 'wut'?

It's a crypto specific obscurity and since you can't get Tether themselves to redeem your USDT for dollars, which I thought was kind of the original point, you'll have to find somewhere else that'll turn it into real dollars for you.

I don't know if there are banks accepting USDT directly maybe I miss to see the news about this since on our country we don't have an option to do that and we need to exchange our USDT to bitcoins and transfer it to our local wallet to convert it into fiat.

Maybe american citizens have that option or?

[imstillthebest]

binance was a crypto exchange so i assume that you can only buy or sell cryptos on here and not fiats  but there are other trading platforms that supports crypto to fiat or fiat to crypto , i just only dont know if what site but you can try searching that on google  .  

there are also wallet that allows you to do that like the one that i use right now although i dont know if this was available on your region because i heard this only operates mainly on asian region .

[gentlemand]

I don't know if there are banks accepting USDT directly maybe I miss to see the news about this since on our country we don't have an option to do that and we need to exchange our USDT to bitcoins and transfer it to our local wallet to convert it into fiat.

Maybe american citizens have that option or?

You are massively overestimating USDT's importance. No one outside of crypto has a clue what it is. No bank will know and if you explained it to a bank they'd look at you like you were fucking nuts.


'Look, there's this company, no one really knows who owns it or where it's based and they invented this token. It's worth a dollar but there's no way of proving that there are real dollars backing it and they've said themselves that sometimes it isn't.

The actual company who issues these tokens refuse to give their non whale customers dollars for one of these tokens. You have to find some other individual on an exchange willing to hand over real ones.

So, are you gonna let me deposit these or not?

I'm WAITING.'

[nathanoetic]

I think USDT should CEO  should more active negotiating to be the CBDC

[ethereumhunter]

You can buy bitcoin again with your USDT, and you can buy it any price. Don't worry if you have USDT because, with USDT, you can buy many coins at binance, but I suggest you buy bitcoin. People buy and sell their bitcoin to USDT, and they can make a profit in bitcoin or USDT, which mean they will increase the bitcoin or USDT amount. You can try it too, and I think you will be satisfied

[russokai]

Tether: The Story So Far

https://www.kalzumeus.com/2019/10/28/tether-and-bitfinex/

[gentlemand]

https://twitter.com/CoinbaseCustody/status/1266504653577105409

Coinbase custody now supports USDT based on ERC20 deposits and withdrawals.

That to me is pretty mind boggling. Either Coinbase have done a large amount of homework and are satisfied or they threw in the towel and decided to join the fun.

[pankaj1234]

USDT is very safe and stable coin. You can store usdt when market is looking to dump because converting altocoins into usdt will not decrease your equity as much as altocoin. If you have usdt in cryptocurrencies account can buy btc, eth or different coin and sell in some profit. This type of things usually can be done by usdt coin. Every trader should convert alcoins in usdt when their is a fear of big market crash.

[CryptopreneurBrainboss]

USDT is very safe and stable coin. You can store usdt when market is looking to dump because converting altocoins into usdt will not decrease your equity as much as altocoin. If you have usdt in cryptocurrencies account can buy btc, eth or different coin and sell in some profit. This type of things usually can be done by usdt coin. Every trader should convert alcoins in usdt when their is a fear of big market crash.

USDT is a stablecoin and that's quite understand but when you declare it a safe stablecoin then doubt begins to come in if you truely know what you're talking about or just joining the fun like @gentlemand just joked about with the coinbase accepting it scenario.

USDT is quite popular but that's not just enough criteria to make it the safest of the stablecoins in the market, we have other competitors (mostly decentralized stablecoin) that I won't mind recommending them over USDT anything to anyone in search of a stablecoin they can rely on.

USDT isn't any different from the scam called fiat, the manipulation and foul practices associated with the project is just too numerous to consider them the best option when we debate about safe stablecoins

[Ridwan Fauzi]

If you want your money in fiat which I believe it is your local currency, then you should look for local exchangers in your country and sell directly for them. USDT is a stable coin that people primarily used to prevent asset volatility. It is obvious you do not know much about trading. You should have trying searching before making that trading.

That's true, I don't know how OP got 0.95 on his wallet whilst it is the same thing when he bought bitcoin and sell bitcoin (deposit or withdraw). This is important part for newbie to crypto currency, learning first before make a decision to buy some crypto currency is more prefered.

OP, you can ask your concern in youtube. I guess there are some user who explain your problem. Also, watching youtube video will help you to know some features in binance exchange. Currently, binance exchange has been supported buying and selling my money fiat directly and can withdraw to my bank account, it may happens to your country as well.

[noorman0]

USDT is a stablecoin which is pegged to 1$ i.e USDT is a fiat base crypto currency.

The fact is no, these two currencies still fluctuate with each other even though they are not too significant https://walletinvestor.com/currency/tether/interval/1y. And one more thing that usdt may not be backed by fiat alone.

You dont need to sell the USDT just withdraw it into your bank account.

I don't know, but I'm sure if we ask me what is tether to bank branch employees in my city or around the world, they are even more familiar with bitcoin than usdt or tether. I've also never heard of a bank willing to accept cryptocurrencies savings to customers bank account.

[posi]

USDT is a stablecoin which is pegged to 1$ i.e USDT is a fiat base crypto currency.

The fact is no, these two currencies still fluctuate with each other even though they are not too significant https://walletinvestor.com/currency/tether/interval/1y. And one more thing that usdt may not be backed by fiat alone.

What i said is still correct mate and USDT said their backed assets may not be fiat alone after they launched XAUT but USDT, EURT etc is still backed by fiat currency.
Here is their reserve wallet link

You dont need to sell the USDT just withdraw it into your bank account.

I don't know, but I'm sure if we ask me what is tether to bank branch employees in my city or around the world, they are even more familiar with bitcoin than usdt or tether. I've also never heard of a bank willing to accept cryptocurrencies savings to customers bank account.

You're right cause bitcoin is the most utility crypto but you misunderstand the whole conversation because the OP have some USDT on Binance and want to sell it for fiat which will send into his bank account and dont know how he's going to do it.