The volatility of cryptocurrencies was the major reason for the invention of more stable cryptocurrencies known as Stablecoins. Over the last couple of years, many stablecoins have emerged in the crypto world, and the most popular of them is USDT.
USDT, also known as Tether, is a stablecoin aiming to stabilise cryptocurrency value. It belongs to the Stablecoin group of cryptocurrencies whose volatility is less severe than other cryptocurrencies like bitcoin and Ethereum; USDT is fiat-collateralized, making it stable and safer for investors who do not want to risk much in crypto investment.
USDT trading has become very common among crypto investors due to its advantages as a stablecoin. Given the alleged notion that the value of USDT is pegged to the dollar’s value, many investors have considered the stablecoin a good hedge against inflation.
In Nigeria especially, many people save their money as USDT to protect it against the constant inflation in the country. You can save in USDT and sell the USDT at a later time. The big question here is, how do you sell USDT?
This short article was crafted to show you how you can sell your USDT in Nigeria.
How To Sell Tether USDT in Nigeria
Remember, you can convert your Nigerian naira into a stablecoin with the same or almost the same value as the dollar. This will save you from the cruelty of inflation ravaging the country.
A while back, people who owned USDT had to convert them to bitcoins before they could convert them to naira. Considering the fees attached to the conversions, this is a long process and not so economical. There was no seamless way to convert from USDT to your naira account.
But now, you can sell your USDT directly for naira. Not just that you can sell directly to naira, but the process is very fast and easy. If you’re based in Nigeria and looking to sell USDT, you may want to consider using Prestmit.
Prestmit is the best platform to sell USDT for cash or bitcoin in Nigeria & Ghana and is slowly taking over the African exchange market.
Follow the easy steps below to sell USDT on Prestmit:
STEPS TO SELL USDT:
- Create a Prestmit account or download the mobile app
- Proceed to the trade page and click on SELL USDT trade
- Send the coins to any of the provided addresses, as it suits your purpose
- Submit the screenshot of the transaction
- Wait a few minutes, and your wallet balance will be credited at the corresponding rate
- Rates are displayed on the page
How Long Does The Exchange Take?
Prestmit mobile is the leading online crypto trading app in Nigeria today due to the speed and convenience of the platform. The exchange takes about 5-10 minutes to process the USDT transaction and pay your naira equivalent into your naira account since USDT transfers do not take too long to be confirmed.
Difference Between ERC20 and TRC20 USDT Addresses
The ERC20 is based on the ETH network. And its transactions take place on the ETH network. TRC20, on the other hand, is based on the TRON network, with transactions taking place on the TRON network. ERC20 is more common compared to TRC20.
Why You Should Sell USDT For Naira On Prestmit
Many crypto users have chosen Prestmit as their crypto trading solution because the platform was built on a high standard to offer the best services, love and integrity.
The platform believes in giving users the best value for their digital assets, which translates to a high rate on your assets. Users are also assured of the security of their assets, simple user interface, swift customer support and fast payment.
If you haven’t tried selling your USDT on Prestmit, give it a shot today.