Stablecoins act as a catalyst for the crypto market to connect with traditional finance since they mirror the value of fiat currencies. As stablecoins set a stable and reliable base value, it is becoming a viable option in carrying out activities like borrowing, lending, trading, and investing.
It’s only fair to think about securing profit and hedging against losses in times of higher volatility and unpredictable catastrophes. Swapping ETH to USDT can end your tussle with rapid price movements.
For various reasons, you might want to hold cryptocurrency which doesn’t have dramatic price swings and is easier to perform an exchange. All you need to do is swap Ethereum (ETH) to Tether (USDT) to add some stability to your green-to-red turning portfolio. In this article, we will walk you through 6 simple steps on how to perform an ETH-USDT exchange swiftly and without any difficulty.
Steps to Swap your ETH to USDT
The steps to swap ETH to USDT are quite simple to follow but you should also consider other aspects before choosing to perform this exchange.
So, before proceeding to the ETH to USDT exchange, make sure you are aware of USDT crypto price dynamics, current market price, market cap, and the circulating and maximum supply. Also, don’t forget to observe the value fluctuations within a certain period to make a well-informed trading decision.
There are many crypto platforms from where you can exchange ETH with USDT, but here in this article, we are taking the example of the Letsexchange platform since its process is comparatively easier. Now, let’s get into the process of converting your ETH to USDT instantly.
- Select ETH to sell and USDT to receive.
- Enter the ETH amount you want to sell, the equivalent USDT value will be provided automatically, then click on ‘exchange’.
- Copy the wallet address to which you want to receive the funds
- Make the required deposit to the wallet address provided by the website
- Receive USDT
- Download the receipt with the exchange details.
Download the receipt with the exchange details.
This way, you can convert your ETH to USDT in just 6 simple steps. We would also suggest you compare rates on multiple platforms and choose the most convenient option after analyzing the exchange details.
Advantages that come with ETH-USDT swap
- Investing in USDT instills trust as it allows you to borrow, lend, trade, and make plans without volatility. In addition, Stablecoins offer lucrative APY for DeFi lending.
- If you are not a seasoned trader but a crypto speculator then choosing stablecoin such as USDT can be your stepping stone in entering the crypto market. You would be able to observe the market while avoiding unwanted risks that volatility presents.
- Choosing USDT will also diversify your portfolio and can help you stay afloat in unfavorable price movements.
- Stablecoins like USDT are asset-backed and have a potential for large-scale adoption in years to come, considering it bridges the gap between crypto and fiat currency.
- Stablecoins involve a fiat-related regulatory process involved, which makes them less susceptible to scams and other mishaps.
Also Read: Ethereum Price Prediction 2023: Can ETH hit $2500?
