How to Convert USDT to Local Currencies

USDT is designed to maintain a stable value equivalent to the US dollar and offers a seamless bridge between digital and traditional currencies' volatility. This stability makes it a popular choice for everyone seeking a reliable medium for transferring value. However, as the demand for digital currency continues to grow, so it also becomes necessary for users to convert their USDT into their local currency, either for daily expenses, investments, or cashing out profits.

Whether you are looking to pay for everyday purchases, transfer money to friends or family, or take advantage of market opportunities, understanding how to convert USDT to your local currency easily and also knowing the right platform to use is essential. In this article, you’ll learn the step-by-step process for easily converting USDT to local currencies while using the Bitnob App. Let’s get into it….

Benefits of Using USDT

USDT offers many benefits as a digital currency and this is also why it’s the most widely used stablecoin. Let’s explore some of the benefits associated especially using the Bitnob App as the go-to platform.

Stability

USDT is a stablecoin pegged to the US dollar, which means it generally maintains a 1:1 value with the dollar. Because of its stability, it helps reduce the volatility that’s associated with digital currencies. 

Liquidity

USDT is a highly liquid asset and this is because it’s one of the most widely traded digital currencies. This makes it easier for anyone to trade with it. 

Global Accessibility

Being a digital currency, USDT allows for quick and low-cost international transactions without the need for traditional banking services. It can be easily traded and transferred across borders.

Lower Transaction Fees

Compared to traditional banking systems, USDT transactions often incur lower fees. Using Bitnob as a case study, it costs only $1.30 to send USDT regardless of how much you’re sending and costs zero to receive it. 

Converting USDT to Local Currencies on the Bitnob App

Now that you have received your USDT in your Bitnob wallet, the next step for you might be to convert it to your preferred local currency. 

• In the Quick Links section, tap “Withdraw”.
• Choose your preferred local currency account number to which you want to withdraw, which could either be NGN, KES, UGX, GHS, RWF or CFA.  (P.S., you must have added this account number to your Bitnob account).
• Fill out the amount in USD or your preferred local currency—you will get the equivalent of both either way.
• Initiate your withdrawal by tapping “Confirm” and entering your PIN.
• You just converted your USDT to the local currency of your choice. 

There’s More with Bitnob

Bitnob is a platform that gives you more than just converting USDT to local currencies, it also allows you to send, receive, and save your money. Send and receive money within African countries and globally, make unlimited online payments using the Bitnob virtual dollar card, buy and sell Bitcoin easily, etc.  

With Bitnob, receiving and sending USDT is easy, plus you get to enjoy other features of the App. So wait no more! Download the Bitnob App to enjoy all the benefits today!