So, how are you liking trading Tether on Paxful? We’re thrilled that a stable and reliable cryptocurrency has been introduced to our platform, but we’re even more pumped to tell you that you can now convert your Bitcoin into Tether!
Before you hop over to your wallet page to convert your coins, we’re here to unpack this new feature and show you why so many of you have longed for it.
What’s the buzz?
Something just arrived on your wallet page! Now, besides checking your BTC balance, you can instantly convert Bitcoin into Tether (USDT), and vice versa.
When you convert BTC into USDT, there’s a small conversion fee; when you convert USDT into BTC, however, you won’t be charged a thing! You’ll soon find out why it’s worth your while to switch between the two cryptocurrencies… (Keep reading!)
As much as we love Bitcoin, we’re all aware that Bitcoin’s prices can fluctuate as much as 10% or more on a daily basis. While it grants financial freedom for the unbanked and underbanked population around the world, it doesn’t provide as much stability as some other cryptocurrencies—like Tether, for instance.
As Tether is a stablecoin backed by the value of the US dollar, its price fluctuates a lot less. That means you can protect your money during Bitcoin’s volatile price swings by keeping your funds in USDT. It’s like giving your money a bodyguard for a very small fee.
How to convert?*
On your wallet page, you should see two boxes. The one on the left shows your balance in BTC and the one on the right shows your balance in USDT. Click Convert to switch one cryptocurrency into another within seconds.
You’re free to withdraw USDT—there’s no need to convert it into BTC first. We’re working around the clock to make it possible for you to deposit USDT so make sure to stay tuned to get the latest product updates. For more information, take a look at our Terms of Service.
We’ve also included the current market prices of BTC and USDT on the wallet page to help you decide how much you’d like to convert.
Ready to convert?
Being able to convert between Bitcoin and Tether means your money will be in good hands. It takes only seconds for the change to happen but it can save you from losing money that you could have potentially kept. Are you itching to use this feature? We’ll let you get to it!
*The conversion feature is only available for ID-verified users outside of the United States. It’s not currently available for our US users.