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Author Topic: so what to do with USDT ?!  (Read 717 times)
Deeshawn
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July 21, 2020, 05:58:55 PM
 #61

I will advice you trade with the USDT, study a good altcoin to trade on exchange, when the token is dumping, buy with your USDT, when the token Pumps, exchange back to USDT, keep doing this and in few days you should be in profit.

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July 22, 2020, 06:23:58 AM
 #62

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  Huh Huh 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  Angry

need help figuring this out.

thanks,

You can use LocalBitcoins to convert your BTCs to FIAT money there's no minimum limit there AFAIK. You can also look for any other exchange that provides service in your country. Would be able to help you better if I know which country you are from.

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Maxstl007
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July 22, 2020, 06:32:32 AM
 #63

I thought binance supports FIAT? I'm guessing that's through binance US, that's US version for binance exchange, you can withdraw FIAT through that platform, all you need to do is KYC verifications, the app is available on playstore, looks like this


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July 22, 2020, 07:06:42 AM
 #64

I believe the best time to hild USDT is now as the price is gradually coming, and I think you can also convert your coin to fiat in Binance when on spot trading but its also for some specified countries, but you can still dig in more, changing your to fiat isn't that hard any more but you have to find the exchange that's works for you
USDT is a stable coins so why you are saying this is the best time to hold it? No matter when you hold the price is going to be stable or goes to zero if people lost the trust on it.Binance support fiat withdrawals but not for every countries so he needs to check whether his country is supported or not.Or its better to move BTC to p2p like localbitcoin and sell it for fiat from there.

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July 22, 2020, 07:30:40 AM
 #65

I will advice you trade with the USDT, study a good altcoin to trade on exchange, when the token is dumping, buy with your USDT, when the token Pumps, exchange back to USDT, keep doing this and in few days you should be in profit.

he was looking for the best way to exchange his USDT into the fiat money and there was no a lot of exchange sites have already used USDT too. He can use coinbase, kraken, okex, bittrex and many more to exchange it with fiat but since he was looking for exchanging small amounts and exchange site will never approve it as it needs a lot of money to pay the fees.

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July 22, 2020, 07:34:34 AM
 #66

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  Huh Huh 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  Angry

need help figuring this out.

thanks,
You still have your money, why sound like USDT is worthless? If you can't convert to FIAT on binance exchange you will need to get your BTC back and move the BTC to platforms that support FIAT withdrawal like Luno, I use Luno and it works perfectly ok, it supports many countries too.

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July 22, 2020, 07:42:04 AM
 #67

... If your purpose to convert your BTC to fiat no need to use Binance...

On Binance, there is really no trading pair to USD and it is not known what this is due to. But it can be exchanged for Fiat, Euro, GBR and other national currencies. Based on the development of the exchange, they will add new national currencies in order to facilitate entry and withdrawal via credit card.





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July 22, 2020, 08:01:51 AM
 #68

I will advice you trade with the USDT, study a good altcoin to trade on exchange, when the token is dumping, buy with your USDT, when the token Pumps, exchange back to USDT, keep doing this and in few days you should be in profit.

LOL, this is really a humorous advice. How do you know when is the time to buy the token if it is dumped?
The cryptocurrency market is harder than the forex market, so it's not easy to trade for newbies to make profit.

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July 22, 2020, 08:26:22 AM
Last edit: July 22, 2020, 08:42:31 AM by qwizzie
 #69

My recommendation :

Convert small portion of your Tether (USDT) to Bitcoin, sent it to Kraken, withdraw in USD, evaluate the whole process.
If process is good : get verified on Kraken (so you can withdraw a larger amount in USD) and repeat above process.

Links :

https://support.kraken.com/hc/en-us/articles/360000423043-Fiat-currency-withdrawal-options-fees-minimums-and-processing-times-
https://support.kraken.com/hc/en-us/articles/360001449826-Deposit-and-withdrawal-limits-by-verification-level

Looking at the FIAT currencies limits in above link you may need to get verified first, before being able to do any kind of FIAT withdrawel as a starter, keep that in mind.
Also Kraken has this in place : 'All first-time fiat deposits will result in a temporary (72 hour) withdrawal hold on the account.'

With regards to Euro withdrawing, Kraken is one of the largest exchange that is handling Euro withdrawels in Europe and has an excellent reputation.
I just don't know how well Kraken handles USD withdrawels, it depends on their third party USD payment-processing & banking partnerships i guess.

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July 22, 2020, 08:49:02 AM
 #70

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  Huh Huh 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  Angry

need help figuring this out.

thanks,

USDT is a stable coin and it has its wide range functions and benefits too. If you use binance for example, and would love to withdraw in fiats currencies, you need to convert your crypto currencies to usdt, so you can withdraw your fiats. Also, if you are in profit, and want to close your order for the day and seeks safety, you can equally trade to usdt, to keep your value in $ intact.

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July 22, 2020, 09:25:16 AM
 #71

its not something that is that hard, selling to fiat involves just to identify if your desired fiat is available, then check for the pair which you can easily convert your current coin into and then you can trade easily to fiat and make withdrawal.

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July 22, 2020, 09:30:38 AM
 #72

If you want Fiat then I think you should use local exchanges, each country will have many different small exchanges do that job. So I believe you will not have too much difficulty with it
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August 07, 2020, 12:37:20 PM
 #73

I believe the best time to hold USDT is now as the price is gradually coming, and I think you can also convert your coin to fiat in Binance when on spot trading but its also for some specified countries, but you can still dig in more, changing your to fiat isn't that hard any more but you have to find the exchange that's works for you

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