Converting Tether FAQs

You can convert your BTC into USDT on Paxful. USDT or Tether is a stablecoin which means you can store your Bitcoin in a cryptocurrency that is not affected by the volatility in the price of Bitcoin. This article will answer some of the important questions you may have on this topic.

Note:

  • Currently, an option to convert cryptocurrency is available for a limited number of users only.
  • You need to verify your ID to be able to convert Bitcoin to Tether. 
Why would I want to convert my BTC to USDT?
Converting Bitcoin into Tether gives you an opportunity to store your funds in the form of a stablecoin, which helps you eliminate the effect of market volatility and fluctuations in the price of Bitcoin.
How to convert Bitcoin to Tether?
Check out our step-by-step guide here.
How to convert Tether to Bitcoin?
Check out our step-by-step guide here.
Can I withdraw my USDT from Paxful wallet?
Sorry, you can’t at the moment. To send out your funds from Paxful, you need to convert your USDT to BTC first.
Can I deposit USDT to my Paxful wallet?
Sorry, you can’t at the moment. Right now, you can only add Bitcoin to your Paxful wallet. 
Can I trade Tether on Paxful?
Sorry, you can’t at the moment. Right now, you can only trade Bitcoin. An option to buy and sell USDT is coming soon.
What are the fees for converting BTC to USDT?
Paxful charges a 1% fee on the amount to be converted. The fee is charged in BTC. Here’s more information about Paxful’s fees.
What is the minimum and the maximum amount of BTC I can convert into USDT?
You can convert a minimum of 10 USDT and a maximum of 10,000 USDT worth of Bitcoin per transaction. 
Is it possible to convert my USDT to BTC? If so, what are the fees?
Yes, you can convert USDT to BTC in your Paxful wallet at any time and there’s no fee for this conversion.
What happens if I send USDT to my Paxful wallet?
Don't send USDT (Tether) to your Paxful wallet. You’ll lose any money you send and you can’t recover them.
Can I convert crypto on my Paxful mobile app?
Currently, the option to convert is not available in the Mobile Wallet. Please use the web version on your mobile instead.
My conversion wasn't successful. What to do?
If you receive an error message we’d recommend waiting a few seconds before trying the conversion again. Some conversions will go through after a few seconds! If your conversion is successful, you’ll see a green banner to let you know. If you’re not seeing a successful conversion within a few minutes, feel free to try again.
My conversion wasn't successful, and funds are reserved for conversion or appear to be lost. What to do?
Please let us know the transaction ID associated with your conversion and our support team will take a look.
I am a verified user. Why don’t I see the BTC to USDT converting option in my Paxful wallet?
We’re rolling this feature out to our users in phases. So keep an eye out, you’ll see this feature in your wallet soon. 

Here’s our guide on how to verify your identity. Also, check out our tips for buying Bitcoin and our rules for selling Bitcoin.

 

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