Bitcoin is the founder of the cryptocurrency market, a coin that has been ranked first in all ratings for many years. This is the most expensive, most famous and most influential coin. Any significant change in the price of Bitcoin immediately sets almost the entire market in motion.
What are stablecoins
In addition to Bitcoin, there is an almost astronomical number of digital assets on the market, which are conditionally called altcoins, alternative coins. The variety of technological solutions and ways of using cryptocurrencies is amazing, but with all this, cryptocurrencies have common features: unpredictability and high volatility.
These characteristics apply to almost all digital coins. Suffice it to recall the rise of the DOGI mem-coin or the no less impressive growth of the previously inconspicuous SOL coin.
Almost everything, with the exception of a special class of coins called stablecoins. This type of digital assets differs from all other cryptocurrencies in that it is tightly linked to more stable assets, mainly fiat currencies. The first coin of this type was Tether (USDT)
USDT is pegged to the US dollar. Theoretically, the ratio between them should remain unchanged, 1:1. In practice, the exchange rate fluctuates slightly.
USDT is one of the five largest and most demanded cryptocurrencies.
Why stablecoins are needed
Synchronous and very high volatility of cryptocurrencies greatly complicates their use for everyday calculations. In addition, a sharp drop in cryptocurrency prices brings losses to investors and traders.
USDT and other stablecoins help to diversify risks during periods of particularly violent price movements of major cryptocurrencies. At the moment of reaching another historical maximum, it was quite a reasonable decision to exchange part of BTC to USDT. This is what professional traders and large investors do.
In addition, USDT simplifies and reduces the cost of trading on cryptocurrency exchanges, serves to protect funds from hyperinflation and is the most convenient means of payment. A stable exchange rate provides settlement predictability that is unattainable with Bitcoin.
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Among the functions of USDT in cryptocurrency trading, it is worth mentioning its role as an intermediary between fiat and digital money. This is one of the few coins that form exchange pairs with almost all sovereign fiat currencies.
The appearance of USDT and other stablecoins in the digital asset market plays an important role in shaping public opinion about cryptocurrencies. The existence of a digital version of the dollar strengthens the credibility of cryptocurrencies and the entire industry as a whole.
Where to exchange BTC to USDT
BTC and USDT consistently rank high in the cryptocurrency rankings. These two coins are listed on all cryptocurrency exchanges. The availability of the BTC/USDT trading pair does not mean that the first trading platform that comes across is suitable for the exchange. First of all, a crypto exchange must be reliable and secure. However, to access the classic platform, you need to register an account.
This is contrary to the principles of anonymity of cryptocurrencies and takes some time. The withdrawal of exchanged funds from the exchange is carried out manually. You submit an application and the coins are credited to your wallet after the operation is approved. This usually happens fairly quickly, but sometimes the processing gets delayed and you have to wait.
It is quite possible to do without unnecessary movements, disclosure of personal data and waiting. All this is implemented on LetsExchange – cryptocurrency exchange online С2С. The exchange widget is available without registration and all you need to do is select the desired exchange direction, indicate the wallet address and replenish the deposit for the transaction amount. After confirming the exchange request, the transaction is automatically completed by crediting the coins to your wallet.
LetsExchange does not store your personal data, but your coins. This means that the exchange is carried out not only quickly, but also as securely as possible.
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