Three of the most popular crypto assets in the Coinmarketcap ranking are Bitcoin, Ethereum, and Tether. If the first two belong to “coins”, the last one is a “stablecoin”.
USDT is a stablecoin whose price is pegged to the US dollar and 80% supported by dollar reserves. So the popular crypto pair BTC/USDT, in fact, shows the price of Bitcoins in dollars.
Stablecoins are used for the following purposes:
- Hedging risks when trading. When some sharp crypto price fluctuation is expected, traders convert their crypto to USDT and hold them until the market gets stable.
- Many companies accept crypto payments in USDT as this asset equals a dollar.
So the advantage is Tether price USD, which is always around one dollar.
If you want to buy Tether, welcome to the WhiteBIT exchange.
Trading on WhiteBIT
WhiteBIT is the largest crypto exchange in Europe, offering a high level of user security, fast transactions, a comprehensive and intuitive interface, and many more advantages. The platform allows for fiat-crypto trading. For example, you can convert USDT to EUR in a matter of seconds and withdraw euros to your bank card.
WhiteBIT provides up-to-date BTC USDT price and low transaction fees – only 0,10%, regardless of the number of Bitcoins you want to convert.
- futures trading
- trading bots
- and many more trading options.
Users without registration can access only spot trading with limitations on money withdrawal. All other features, including fiat-crypto trading, are available only to registered clients who verified their accounts. Verification is necessary if you want to attach your debit card to your account and withdraw money with no limits. It usually takes a couple of days to pass KYC.
The WhiteBIT exchange offers demo trading, using which you can practice converting BTC/USDT and other crypto assets.