Can Tether be used as collateral in decentralized finance (DeFi)?
A post by William Parvez
To buy South African Rand using Tether, first, find a cryptocurrency exchange that supports the ZAR/USDT trading pair, such as Binance or Luno. Create an account, verify your identity, and deposit your USDT into your exchange wallet. Locate the ZAR/USDT pair on the trading platform and place an order to exchange your Tether for South African Rand. If the ZAR/USDT pair is unavailable, you can first exchange Tether for a stablecoin like USDC (USDC) or a fiat currency, then trade that for South African Rand. Be mindful of potential exchange fees, which vary by platform and can affect the total cost of your transaction.
To sell South African Rand for Tether, first, find a cryptocurrency exchange that supports the ZAR/USDT trading pair, such as Binance or Luno. Create an account, verify your identity, and deposit your ZAR into your exchange wallet. Locate the ZAR/USDT pair on the trading platform and place a sell order to exchange your South African Rand for Tether. If the ZAR/USDT pair is unavailable, you can first sell South African Rand for a stablecoin like USDC (USDC) or a fiat currency, then trade that for Tether. Be mindful of potential exchange fees, which vary by platform and can affect the total amount you receive.
A post by William Parvez
A post by William Parvez