Can Tether be used as collateral in decentralized finance (DeFi)?
A post by William Parvez
Platform | Tether | Ethereum |
---|---|---|
YouHodler | 1 USDT | 0.0330 ETH |
To buy Tether using Ethereum, first, find a cryptocurrency exchange that supports the USDT/ETH trading pair, such as Nexo or PrimeXBT. Create an account, verify your identity, and deposit your ETH into your exchange wallet. Locate the USDT/ETH pair on the trading platform and place an order to exchange your Ethereum for Tether. If the USDT/ETH pair is unavailable, you can first exchange Ethereum for a stablecoin like Tether (USDT) or a fiat currency, then trade that for Tether. Be mindful of potential exchange fees, which vary by platform and can affect the total cost of your transaction.
To sell Tether for Ethereum, first, find a cryptocurrency exchange that supports the USDT/ETH trading pair, such as Nexo or PrimeXBT. Create an account, verify your identity, and deposit your USDT into your exchange wallet. Locate the USDT/ETH pair on the trading platform and place a sell order to exchange your Tether for Ethereum. If the USDT/ETH pair is unavailable, you can first sell Tether for a stablecoin like Tether (USDT) or a fiat currency, then trade that for Ethereum. 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
A post by William Parvez