Altcoins can be exchanged from one cryptocurrency to another cryptocurrency on Binance with ease and speed. Whether you are a retail crypto user or a large-scale trader, you can make use of Binance to make the best rates in crypto trading.
Binance Convert helps to exchange one token for another at the best rates without affecting the markets as quickly as possible. Most popular altcoins such as Ethereum, Doge Litecoins, Cardano and not leaving out Tether (USDT) can be exchanged on Binance.
Why Exchange Altcoins To USDT?
USDT is the trading symbol for Tether tokens, which is another form of altcoins. It is a blockchain-based cryptocurrency whose tokens are in circulation and are backed by an equivalent amount of U.S dollars.
This makes USDT belong to a breed of altcoins called ”Stablecoins” which aim to keep the cryptocurrency valuations stable, as opposed to the volatility in prices of other cryptocurrencies like Bitcoin and Ethereum.
Many might seek to transform the cryptocurrency at their disposals into another, such as exchanging other cryptocurrencies to the ‘stable’ Tether (USDT) which is done on Binance in a matter of seconds.
USDT was actually designed to build the necessary bridge between fiat currencies and crypto and offer stability, transparency, and minimal transaction charges to users. All these make the exchange of altcoins to Tether (USDT) tokens a transaction to make.
How To Use Binance Convert To Exchange Altcoins To USDT
Binance Convert provides several benefits to every kind of crypto trader, from beginner to expert. Making use of this platform takes just four simple steps, all of which can be completed in seconds.
The steps to complete a crypto deal on Binance Convert are listed below in order;
Step 1: Go to Binance Convert.
– On the Binance website, go to Trade on the top left part of the homepage, then choose Convert.
– On the Binance app, go to Trades (the middle option on the bottom part of your screen), then choose Convert at the top left part of your screen (for the default version of the app) or on the pop-up that shows up (for Binance Lite).
Step 2: Select the token you have and the token you want to buy. You can choose to enter the number of tokens you want to use (at the top part) or the number of tokens you want to gain (at the bottom part).
Step 3: Click Preview Conversion. You will then see the price quote for the transaction you’re considering. You have 5 seconds to approve the quote shown to you and fulfil the deal. If the 5 seconds expire, click Refresh to get a new rate.
Step 4: Click Convert. The transaction takes less than a second, and you’ll see the crypto you bought in your Spot Wallet.
That’s how you can easily exchange your altcoins for USDT using BINANCE. Note that you can always trade your USDT directly for cash using Prestmit, in case you ever need to.