BUY AND SELL USDT ON BINANCE: USDT, or Tether, is a stablecoin that is pegged to the value of the US dollar. It is one of the most widely used stablecoins in the world and has become increasingly popular in Nigeria as a way to transact in a stable currency without the volatility of other cryptocurrencies like Bitcoin. Binance is one of the leading cryptocurrency exchanges in the world and is a popular platform for buying and selling USDT with Naira. In this guide, we will walk you through the process of buying and selling USDT on Binance with Naira.
BUY AND SELL USDT ON BINANCE
Step 1: Create a Binance Account
The first step to buying and selling USDT on Binance is to create an account on the platform. Visit the Binance website and click on the “Register” button to create a new account. Fill out the registration form with your email address and password, and then verify your email address. Once you have verified your email, you can log in to your new Binance account.
Step 2: Verify Your Account
Before you can start buying and selling USDT on Binance, you need to verify your account. Click on the “Account” button in the top right-hand corner of the screen, and then click on “Identification”. You will be prompted to fill out a form with your personal information, including your name, date of birth, and address. You will also need to upload a copy of your government-issued ID, such as your passport or driver’s license, and a selfie of yourself holding the ID. Once your account is verified, you can proceed to the next step.
Step 3: Deposit Naira into Your Binance Account
To buy USDT on Binance, you first need to deposit Naira into your Binance account. Click on the “Deposit” button on the top right corner of the screen, and select “NGN” as the currency you wish to deposit. Binance provides several options for depositing Naira, including bank transfers, debit cards, and P2P trading. Choose the deposit method that is most convenient for you and follow the instructions to complete the deposit.
Step 4: Buy USDT with Naira
Once you have deposited Naira into your Binance account, you can use it to buy USDT. Click on the “Trade” button on the top left corner of the screen, and then select “Convert”. Choose “NGN” as the currency you wish to convert from, and “USDT” as the currency you wish to convert to. Enter the amount of NGN you wish to convert to USDT, and then click “Preview Conversion” to review the details of the transaction. If everything looks correct, click “Confirm” to complete the conversion.
Step 5: Sell USDT for Naira
When you are ready to sell your USDT for Naira, you can use the same process that you used to buy USDT. Click on the “Trade” button on the top left corner of the screen, and then select “Convert”. Choose “USDT” as the currency you wish to convert from, and “NGN” as the currency you wish to convert to. Enter the amount of USDT you wish to sell for Naira, and then click “Preview Conversion” to review the details of the transaction. If everything looks correct, click “Confirm” to complete the conversion.
Binance provides a reliable and user-friendly platform for buying and selling USDT with Naira, so buying and selling USDT on Binance with Naira is a simple and straightforward process. By following these steps, you can easily convert your Naira into USDT and vice versa. Remember to always keep your account secure by using two-factor authentication and following other security best practices. With a little bit of practice and experience, you can become a successful trader on Binance and take advantage of the numerous trading opportunities available on the platform.
Converting USDT to cash
Furthermore, should the need to convert the USDT back to fiat arise, users have found it easier, safe, fast, and more straightforward to make use of DartAfrica’s web-based platform. This platform allows users to deposit just the amount of USDT (min $20 amongst other assets) they need to exchange for fiat at the moment. After depositing and 2 block confirmations, the equivalent fiat amount is credited into the user’s DartAfrica wallet and this can be withdrawn directly into the local bank of the user. Dart Africa is easy, safe, secure, and fast to use.
Binance is one of the most secure cryptocurrency exchanges in the world. It uses advanced security protocols to keep users’ funds and personal information safe. Binance has implemented several security measures to protect its users, including two-factor authentication (2FA), email verification, and anti-phishing codes.
Additionally, Binance has a Secure Asset Fund for Users (SAFU) that is designed to protect users’ funds in case of any unforeseen circumstances. The SAFU fund is created from a percentage of the trading fees collected on the platform and is used to compensate users in case of any security breaches or losses due to unexpected events.
Furthermore, Binance is regularly audited by third-party security experts to ensure the safety of its platform and users’ funds. The exchange has also received a security score of 10 out of 10 on the independent security rating platform, CER.live.
However, it is important to note that while Binance takes security seriously, users also need to take steps to protect their accounts. Always ensure to keep your Binance account and personal information secure by enabling two-factor authentication, using strong passwords, and avoiding phishing attempts. It is also recommended to keep most of your funds in a cold wallet or hardware wallet for added security.
Also, trading cryptocurrencies carries a high degree of risk and is not suitable for everyone. Doing your own research, managing your risks properly, and investing only what you can afford to lose is crucial.
Overall, with its low fees, a vast selection of cryptocurrencies, and easy-to-use interface, Binance has become one of the world’s most popular and trusted cryptocurrency exchanges. So, if you are interested in buying and selling USDT or any other cryptocurrency, Binance is definitely a platform worth checking out.