First things first, to perform a USDT to BTC exchange, you will need a USDT and BTC wallet. USDT wallets are crucial if you want to perform a private transaction. Otherwise you have to go through the entire process of setting up an account on CoinSwitch. And, without a BTC wallet, you will not be able to convert your USDT. So both are equally important. If you don’t already have these, you may want to look up the recommended wallets on CoinSwitch’s website.
How to choose a wallet?
It all depends on what you intend to use it for. Hardware, software, mobile or desktop - it all comes down to that. You can always try out a couple before settling on the right one but make sure you read the reviews to ensure that your holdings are safe.
If the world’s largest crypto currency exchange aggregator doesn’t convince you, then maybe low transaction and withdrawal fees will. CoinSwitch allows you the flexibility to trade over 400+ coins with 45,000 trading pairs all within the span of 15 minutes.
USDT to BTC
There have been some controversies around Tether and USDT so you may want to do your due diligence and convert your USDT to BTC to protect your savings.
How to exchange USDT to BTC
- Enter the amount: On the homepage, you want to enter the trading pair and the amount of USDT that you want to convert. The best rate is displayed by default. Currently Tether to Bitcoin is not supported on any of CoinSwitch’s partners. Usually, you can see a list of offers if the exchange is supported.
- Choose the best offer: When exchanges support the conversion, you will be able to see the recommended offer, a limited time offer and other offers. You can choose the one according to your preference. Instead of choosing the best exchange rate, you may want to choose the limited time offer given how volatile crypto is.
- Enter your Bitcoin wallet address: Under usual circumstances, you will need to input your Bitcoin wallet address. This starts with 1 followed by a string of numbers and letters. The next step is to send USDT to a wallet held by CoinSwitch so that they can convert and send Bitcoin to your wallet. You can usually scan the QR code for the address of the wallet to do this. The memo has to be entered manually.
- Conversion: Again, under usual circumstances, once the transfer is done the transaction begins. It usually only takes 15 minutes or even less. But this may not always be the case if the transaction size is too large. After the conversion has been completed, you will get a transaction hash.
If you need to convert any other coin, you can do that as well. CoinSwitch allows you to exchange all altcoins. There is an entire list of ‘Supported Coins’ that you can view.
Published by Lena Burkut