Categories: Cryptocurrency

Step-by-Step Guide to Buy USDT on StealthEX

Stablecoins are a type of cryptocurrency whose value is tied to another asset class to keep a stable, steady value, and fiat-backed stablecoins, which are backed by currencies like the US dollar, are the most widely used type of stablecoin. These include USDC, USDT, Dai, and many more.

Stablecoins are a vital component of the crypto market. With Bitcoin and Ethereum, you can transfer money to anybody, anywhere, without needing to rely on a middleman. However, a significant disadvantage of cryptocurrencies is their propensity for wild and erratic price fluctuations. They are therefore difficult for regular people to use. People usually want to understand, for their financial stability and safety, the future value of their money in a week and beyond. By linking the value of cryptocurrencies to other, more reliable assets, typically fiat currencies, stablecoins attempt to tackle price fluctuations.

Stablecoins are available on numerous large and small private exchanges, one of which is StealthEX, known for its instant swapping feature. In this short article, we’ll look closely at how you can buy stablecoins via this platform.

Understanding Stablecoins: USDT

Tether (USDT) is a stablecoin with a token economy based on a 1-to-1 reserve of fiat currency. Having been introduced in 2014, USDT is the most well-known stablecoin to this day. Based on market capitalization, it is among the most valuable cryptocurrencies in general.

Tether enables users to ‘store, send and receive 1-to-1 backed digital currency across tether-integrated exchanges, platforms, and wallets’ by using blockchain technology. On cryptocurrency exchanges, Tether is primarily used to improve trade and supply liquidity. Moreover, USDT serves as a means to hedge against market volatility and provides a viable option for individuals and businesses seeking to transfer funds internationally.

How to Buy and Swap Stablecoins on StealthEX

Let’s imagine you would like to exchange BTC for USDT. To make an exchange through StealthEX, you need to take only a few simple steps using its user-friendly interface.

  • First, visit StealthEX.io, choose Bitcoin in the left drop-down list, and enter the amount you want to exchange. Then choose USDT crypto in the list of coins on the right. You will see the estimated amount of Tether (USDT) you will receive after the exchange. When everything is set, click on START EXCHANGE, and you will be taken to the next page.
  • In the second step, you need to provide your USDT recipient address. Remember to double-check the information you enter. As soon as you have carefully checked all the details, you can press the NEXT button and you will be redirected to the Confirmation page.
  • Here you can revise the address provided and the amount of USDT you will receive.
  • When pressing the NEXT button, you will be redirected to the Exchange page. At first, you will see the address where you need to send your Bitcoin to continue the exchange. StealthEX will also provide you with the exchange ID. It is recommended to save your exchange ID or the link to your exchange. As the exchange progresses, statuses will change: from Awaiting deposit to Confirming. This means that StealthEX is confirming the transaction you made. The next status is Exchanging. During this time the exchange is being made. Then the status will be changed to Sending to your wallet.
  • Finally, you will be redirected to the Finish page. This shows that the exchange has been successfully made and you will receive USDT to the address provided. To be sure that crypto was sent to your wallet you can also use the Output hash shown on this page and check it in the blockchain list of transactions.

Conclusion

Stablecoins bring into the world of crypto the much-needed stability instead of wild price swings associated with cryptocurrencies, price swings we’re all used to. Currently, stablecoins pose lesser risks to financial stability because of their higher predictability and remain a highly sought-after class of assets in the crypto field.

With instant crypto exchanges like StealthEX users can swap stablecoins for crypto or buy them with credit/debit cards. This additionally expands the crypto space, providing more flexibility for the user while also adding more reliability to cryptocurrency assets.

Ethan

Ethan is the founder, owner, and CEO of EntrepreneursBreak, a leading online resource for entrepreneurs and small business owners. With over a decade of experience in business and entrepreneurship, Ethan is passionate about helping others achieve their goals and reach their full potential.

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