If you look at the ranking of cryptocurrencies on Coinmarketcap, you will see the first three leaders: Bitcoin, Ethereum, and Tether. In this article, we will discuss how to convert ETH to USDT and the point of doing so.
What is Ethereum?
Ethereum is a decentralized platform based on blockchain technology. It allows developers to build and deploy decentralized applications on top of its blockchain. Hundreds of digital products are based on the Ethereum network. The essential tool behind decentralized apps is smart contracts, natively supported by the Ethereum network.
ETH is a native crypto asset of the platform used in the network and as a payment means for financial settlements for work done within the blockchain.
What is Tether?
Tether is the third most popular crypto asset on the list. It is not ordinary crypto but a stablecoin. The difference is in the stability of value. While other coins and tokens are highly volatile, Tether has nothing to do with market fluctuations. Its price is steadily pegged by the US dollar and always equals about $1. Trading pairs like ETH USDT, BTC USDT, and others are incredibly popular throughout crypto exchanges. Why do traders convert their coins to stablecoin? The answer is:
- because Tether USDT helps to hedge risks connected with market fluctuations. Thus, by buying USDT, you maintain the value of your investment in dollars equivalent.
- because many companies accept crypto payments in USDT. It is much cheaper and much faster than transferring funds through banks.
Where Can I Convert ETH to USDT?
The WhiteBIT crypto exchange platform is one of the biggest in Europe. It has over 2 million registered users and offers over 400 crypto pairs. The platform provides high transaction speed and low fees. To exchange ETH to USDT, USDT to ETH, or any other crypto assets, you need to go to the “Trade” section, enter the needed pairs and amount, and pay the transaction fee. The coins will be accrued to your account in a matter of seconds.