Cryptocurrencies are predominately volatile, making them good and risky investments depending on the market situation.
An investor will either reap profits or losses from the volatility of his crypto investments depending on his entry point in the market and the market price.
Stablecoins are cryptocurrencies whose prices are not quite volatile. The prices of stablecoins are pegged to the US dollar, making them on a 1:1 ratio with the dollar.
Though the rate can fluctuate a bit, it still represents a 1:1 of a US dollar on the Ethereum blockchain.
Stablecoins are considered safe crypto assets for risk-averse investors who do not have a penchant for risk.
They are also considered excellent assets to save money from the effects of inflation.
There are many stablecoins in the crypto space today, like BUSD and USDC, but the most popular of all is Tether (USDT).
The price per Tether is always pegged at one dollar and always adjusted and backed by Tether’s reserve to maintain this price.
If you are not ready to take the risks of investing in a volatile cryptocoin, you can save your money as Tether and sell back when you want to.
You can buy or sell Tether on different crypto-exchange platforms, but this article will discuss how to buy and sell USDT on the Paxful exchange platform.
About Paxful Trading Platform
Paxful is a peer-to-peer exchange platform that aims to make digital asset trading more seamless among people.
People worldwide can trade their digital assets with others on the platform anywhere at any time.
The platform is quite simple to use, reliable and secure. It also offers free crypto wallets to users with which they can secure their assets and stay safe.
The escrow system protects all trades on the platform, ensuring every party is satisfied. This means that the funds or assets are locked in an escrow account on the platform until both parties have confirmed their satisfaction with the transaction.
Users can also make withdrawal requests and choose from over 300 payment methods on the platform, giving them many choices on how to hold their wealth.
How To Buy USDT On Paxful Using Multiple Payment Methods
Paxful is a peer-to-peer exchange platform, making it an exciting platform for buying and selling digital assets. You can buy or sell Tether from fellow users directly without any third parties like banks or corporations that may have intervened in the transaction.
If you want to buy Paxful USDT, here are the steps to get started;
- First, you must create an account on the exchange if you are a new user or sign in to an existing account. New users are entitled to a new wallet with which they can store their USDT.
- Select a payment method of your choice and the amount of money you want to use for purchasing the USDT. This should be in your most preferred currency, then click “Search for Offers.“
- Navigate through each offer on the platform and review its terms and conditions while paying attention to the rates set by the prospective sellers. Also, study their reputation scores and the feedback on their profile to analyse their credibility level critically.
- When you finally settle for an offer best suited to your requirements, confirm the amount payable and start the trade. Creating the trade will allow you to communicate with the seller in real-time by opening a live chat on the platform.
- During your chat with the seller, they will provide details on how to proceed with the transaction. Pay attention and carefully follow their instructions to avoid errors. Confirm the transaction once payment is made.
- Once the seller validates the payment, they’ll release your USDT safely held in our escrow directly into your Paxful Tether wallet.
- After payment has been made and the seller validates it, they will release the USDT directly into the Paxful Tether wallet created for you earlier.
- You can start spending your Tether on anything you like after you have completed the trade. You can also transfer to another wallet of your choice.
It’s been straightforward to buy Tether on Paxful, and the 300+ payment methods supported on the platform make it simpler. Users can buy Tether with cash, debit cards, bank transfers and even gift cards through gift card buying USDT.
How To Sell USDT On Paxful Using Multiple Payment Methods
Now that we have learnt how to buy Tether on Paxful, how about selling Tether on Paxful?
We will also discuss how you can be a seller on Paxful and successfully sell Tether.
To get started, sign up on Paxful or log in to your existing account and follow these steps:
- Firstly, sign up on the platform or log in to an existing account.
- Select your preferred payment mode and the currency you wish to receive payment.
- Click on “Search for Offers” to see a list of buyers that may fit your requirements.
- Pay attention to the details of the offers you’re navigating. Some elements like a buyer’s reputation scores, proposed rates and availability are essential as they help you choose the best buyers. You can create an offer to attract users interested in buying Tether on your terms when you can’t find a good suggestion.
- Click on “Sell” when you find an offer you like; though this will not start the trade, it will show you the buyer’s terms and conditions.
- Read the buyer’s terms and conditions carefully and if you agree with them, input the amount you wish to trade for and click “Sell Now“. This will automatically start the trade, and your Tether will be moved to the escrow system on the platform.
- Endeavour to follow the buyer’s instructions and also give all the essential information in the live chat. Release the Tether from the escrow account into the buyer’s wallet once he makes payment.
- Consider leaving feedback on the buyer after a successful trade, which helps other traders know precisely who their prospect is and helps the butter build a reputation.
Conclusion
Tether(USDT) is the most valued stablecoin in the crypto space today. It is a secure cryptocurrency to invest in if you want to avoid the risks of price volatility.
Paxful is an excellent P2P platform to buy and sell Tether among other traders. The escrow services protecting your assets will ensure a fair transaction on the forum.
