Have you come into some Tether suddenly? Do you not know what to do with it? In such a case, you can easily sell Tether for Naira and rid yourself of the hassle of holding onto a cryptocurrency you don’t need. But before you do that, it would be best if you learned more about Tether and how it works.
What Is Tether?
Tether is another cryptocurrency, but it is very different from the other digital currencies out there. For our comparative study, let us choose Bitcoin, which still dominates the crypto world. Bitcoin is based on a decentralized system, and its value is always fluid. Tether or USDT is on the opposite scale from Bitcoin and always has the same value. Owing to its stability, Tether is also referred to as the “STABLECOIN” in the crypto world.
Many crypto collectors prefer Tether over Bitcoin precisely for this feature. Also, there are fewer issues in the former since USDT is supported by the US dollar. One Tether will fetch you the Naira equivalent of one dollar in Nigeria.
Steps To Follow For Selling Tether In Nigeria
Now that you know the undeniable advantages of Tether, you must be eager to convert it into cash. To do so, you simply need to sell Tether for Naira using a reliable online vendor. Most proper and legitimate vendors will take you through the following five steps for the conversion:
1. Create An Account
You need to click on the “Sign Up” or “Register” button on the website to create an account on the platform. You will be prompted to provide a login ID and a strong password. For the former, your email address should suffice. After you have created the account, you will need to complete the KYC procedure by typing in your name, age, gender, phone number, and government-issue ID details.
2. Deposit Tether Balance
The platform will have a wallet function where you can add your Tether balance. To do so, click on the “Deposit” button and follow the screen prompts to validate the transaction on the blockchain.
3. Initiate A Sell Order
Thereafter, search for the “Sell Crypto” button on the main menu. After you click on it, the platform will ask for the desired cryptocurrency you wish to sell and the currency you wish to sell in return. Choose Naira or “NGN” from the drop-down menu to get a list of buyers who wish to buy Tether with Naira.
4. Initiate Trade
Select the buyer who meets your needs and click on the “Sell Now” button.
5. Release Funds
At this stage, you may need to engage in a small chat with the buyer to deliberate upon the terms of the trade. If you are satisfied, release the Tether to the buyer to receive the payment.
Conclusion
Selling Tether for Naira can be hassle-free, provided you have chosen a reliable website for the transaction. If you are unsure of the options available on the internet, you can trust GCBuying, which is the most reputable platform for trading Tether.