The Crypto market is incredibly volatile. In spring 2022, we all witnessed a rapid collapse of the market when, starting with Bitcoin, all other assets lost their value. As of September 2022, we can say the market is rather stable; we neither observe price reductions nor an upward trend. Like any other market, the crypto market lives through circles. When will the next upward trend start – nobody knows, but it definitely will be.
How to Protect Oneself in the Case Crypto Collapses?
Many investors try to reduce their losses when a huge market drop happens. One of the possible options is to convert BTC to USDT. Suppose you have Bitcoins and think the price will drop soon. So to preserve the value of your investment, you buy USDT.
What is USDT? Tether USDT is a popular crypto asset that is on the top rankings. The peculiarity of Tether is the fact its value is 80% provided by the US dollar reserves. No matter what happens with the crypto market, Tether will hold a price of around one dollar.
How is Tether used:
- investors hedge risks, buying USDT;
- some companies prefer to accept money transfers in USDT, for they are quicker and cheaper than dollar transfers through banks.
Once you transfer your BTC to USDT, you maybe want to withdraw your investments, converting USDT EUR.
Where To Withdraw Crypto To a Bank Card?
The WhiteBIT crypto platform allows for crypto-fiat transactions. You got to pass the KYC verification to attach your debit card. It takes a couple of days. Once your profile is verified, you can deposit fiat to your crypto account and work with the exchange’s tools. Then when you need to cash your funds out, you convert USDT EUR and move them to your bank card.
Wrapping up, USDT is not a speculative asset, so there is no sense in making any USDT price prediction because its rate will always keep to around one dollar. USDT is used for risk hedging and fast money transfers worldwide.