Stablecoins matter a lot in the cryptocurrency market. The most popular of them is Tether, and the second most popular trading pair on the WhiteBIT exchange is USDT to EUR. In this article, we will talk about how to use, store and earn with the help of stablecoins.
You can use cryptocurrency in different ways. Here are the most popular options:
- you can store them in a wallet;
- exchange them for another cryptocurrency, and receive income.
Let us consider in detail each use case and highlight its features specifically for the USDT coin.
Table of Contents
Where to Store USDT?
Tether is a reliable, stable, secured and transparent asset, so storing coins on USDT contract address is quite safe. However, despite USDT being backed by the US dollar, the developers do not guarantee the exchange of USDT for USD. This means Tether minimizes the risks associated with cryptocurrencies but does not eliminate them completely. However, that is how it works with any other asset in the world.
How to Buy USDT?
Tether stands out by ease of use and affordable conversion. USDT coins are often used for buying other digital currencies. Cryptocurrency provides sufficient security for trading operations, transactions and money transfers. The most convenient way to buy USDT is the WhiteBIT cryptocurrency exchange.
How to Receive Passive Income Using USDT?
You definitely won’t be able to make money on USDT exchange rate fluctuations, for the price of USDT ERC20 always remains stable, and its fluctuations are minimal. Considering Tether as a long-term storage asset, you can choose one option that allows you to receive passive income:
- investment platforms;
- liquidity platforms;
- crypto loans;
- a liquidity provider in a third-party DeFi project.
The possibilities of USDT are unlimited. Tether is actively used all over the world (except for countries that have banned cryptocurrencies at the legislative level). Its scope is constantly expanding – Tether is used as a digital asset to pay for goods and services, trading on exchanges with the best ratio, and acts as an exchange medium and hidden type investment in USD or other currencies.