Cryptocurrency / Lifestyle

What is the Point of Converting BTC to USDT?

digital currency Bitcoin

The cryptocurrency market is different from the traditional one by its incredibly high volatility, that is, prices change. The matter is that crypto assets’ emission and price are not dependent on central banks, so they live by the market laws where supply and demand play a crucial role.

When supply is unlimited, demand cannot be too high, and vice versa – when supply is cut, demand is high.

Different factors impact crypto rates:

  1. The balance between supply and demand
  2. The marker trend
  3. Investors sentiment 
  4. External events and global economy.

And, of course, one of the main factors is the essence of a project and its technology. Why do some crypto prices never grow? Let’s talk about the Tether coin. 

What is USDT?

Tether is a stablecoin. The name speaks for itself – it is a stable digital asset with the least volatility. How is it possible? The fact is that stablecoins are always supported by a reserve of fiat currencies, and their rates are linked to fiat money, most often, the dollar or euro. 

You have probably seen the BTC USDT crypto pair, for it is one of the most traded crypto pairs. Why do people actually convert BTC to a stablecoin? Here are some reasons traders use USDT:

  1. Tether stablecoin helps traders manage their risks. So during sharp Bitcoin price changes, investors convert BTC to USDT, saving their funds in less volatile assets.
  2. Individuals who understand how crypto works do not address banks for cross-border money transfers. They conduct lightning-fast transactions, converting traditional currencies to USDT and sending it to any point of the globe without spending enormous amounts on fees.
  3. Trading with convenience.

If you want to start trading, welcome to the WhiteBIT crypto platform. It allows you to buy popular crypto assets using your bank card and convert crypto to fiat with its further withdrawal.

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