How Much is 10 USDT to Naira Today; USDT, or Tether, is a popular coin among cryptocurrency users, and the primary reason behind its popularity is its status as a stable coin. A stablecoin is a type of cryptocurrency that is designed to maintain a stable value, often pegged to a traditional currency like the US Dollar.
This stability makes USDT a preferred option for many in the crypto community. Traders and investors often turn to USDT as a safe haven during times of market volatility. It allows them to temporarily move their assets out of more volatile cryptocurrencies while still staying within the realm of digital assets.
Uses of USDT
Here are the common uses of USDT (Tether):
- Store of Value: USDT serves as a stable store of value in the world of cryptocurrencies. It is designed to maintain a 1:1 peg with the US Dollar. When the value of other cryptocurrencies fluctuates, users can convert their holdings to USDT to avoid losses.
- Trading Pair: USDT is used as a trading pair on cryptocurrency exchanges. It provides a stable reference point for trading, allowing users assess the value of other cryptocurrencies. This simplifies the trading process, as traders can easily move in and out of different cryptocurrencies without the need to convert to fiat currencies which can be time-consuming.
- Transfer of Value: USDT simplifies cross-border and cross-platform transactions. Users can send USDT to anyone, anywhere, and it can be quickly transferred across various cryptocurrency wallets and exchanges.
- Hedging Against Volatility: Traders often use USDT as a means of hedging against price volatility. When they anticipate a drop in the value of a particular cryptocurrency, they can convert it to USDT to lock in its value temporarily.
- Fiat Gateway: USDT can also serve as a fiat gateway for entering and exiting the cryptocurrency market. Users can deposit traditional currency into a cryptocurrency exchange and convert it into USDT, which can then be used to trade for various other cryptocurrencies.
Also Read: How Much is 50 USDT in Naira?
How Much is 10 USDT to Naira Today
When it comes to trading USDT for Naira, you have to keep in mind that various exchanges offer different rates. These rates can fluctuate due to market demand, trading volumes, and platform-specific factors. So, you have to choose an exchange that consistently provides the most favorable rates.
Cardvest has earned its reputation as the number one platform for selling USDT in Nigeria, and the reason for this is because it offers the best USDT rates in the country. At the moment, 10 USDT is worth ₦13,439 on Cardvest.
Here are the steps to sell USDT on Cardvest:
- Start by visiting Cardvest website and completing the registration process.
- Once you’re logged in, you will be prompted to create a transaction PIN.
- Choose the “Sell Coins” option and select USDT as the cryptocurrency you want to sell. Make sure that the amount is in USD and meets the minimum requirement of $20.
- Click on “Initiate Sale” to generate a barcode and get a wallet address. You’ll be required to send the specified quantity of USDT to this provided wallet address.
- Following the confirmation of your transaction, the Naira amount will be credited to your account. You can keep track of the transaction’s progress within the “Trades” section on your dashboard.
- To withdraw your funds to your local bank account, simply click on the “Withdraw Funds” option.
