Is this time to exchange Tether to USDC? USD Coin has been on a steady rise as the second biggest stablecoin in the market. For the most part, USDC has maintained better transparency about their mostly dollar-backed and liquid reserves. In the meantime, Tether (USDT) has proven to be reliable, but they have come short when it comes to being transparent. Following the collapse of FTX, investors are now looking to convert Tether to USDC for a variety of reasons. In case you like to learn more about this, keep reading about Coinbase’s warning about Tether (USDT). Regardless, we will go over everything you need to know on how to exchange Tether to USDC on HiExchange platform. And guess what, you get full anonymity, no added fees and 24/7 online support around these parts partner!
Learn How to Exchange Cryptocurrency to PayPal
What Do I Need to Exchange Tether to USDC?
This one’s easy! You need a crypto wallet to send and receive the digital assets. Thankfully, it’s quite a difficult job to find a crypto wallet that doesn’t support both USDT and USDC. As for HiExchange, all you need is an email-address since no KYC (know your customer) is necessary. However, bear in mind that there are many advantages available for those who sign up on HiExchange. Want a good reason why? How about winning $100 ever month!
Learn more about our Tether Giveaway
What is USD Coin (USDC)?
USD Coin owns the world’s largest stablecoin industry ecosystem in the world. It is a cryptocurrency that is pegged to US dollar in terms of value. That means that each USCD will always be worth $1. Stablecoins are used as a hedge against inflation and volatility in the crypto market. However, they can also be used as an alternative way to hold assets on the blockchain network.
As good as stablecoins might sound, there has always been concern about the companies not being honest about their dollar reserve. Basically, for every 1 USDC the company issues, they must hold $1 in their accounts. As a matter of fact, there are rumors regarding some large companies not having the dollar equivalent of their stablecoin. If a solid reserve does not back a stablecoin, the currency will lose value and seriously damage the investor’s funds. In that regard, USD Coin aims to provide full transparency about their reserves.
USDC is managed by a consortium called Centre which is a part of the payment technology company Circle. Much like TrueUSD, they offer monthly attestation reports by Grant Thornton to ensure investors regarding their reserves. Where they differ from TrueUSD, is that TrueUSD only holds dollar in different accounts but USD Coin also holds other assets such as gold.
You can also exchange USD Coin to PayPal with very low exchange fees.
Is Tether USDT any Different?
In short, both USDC and USDT are basically the same idea. They are both stablecoins backed by a reserve of US dollar or liquid assets. Basically, for every Tether or USD Coin, their companies hold $1 in their reserve. Statistically speaking, Tether has never depegged from US Dollar. Furthermore, it is the oldest stablecoin to date with quite a solid reputation.
Before reading about how to convert Tether to USDC, let’s take a quick look at what Tether is and how it operates. Tether is a cryptocurrency based on blockchain whose crypto coins in use are backed by an equivalent amount of traditional fiat currencies, such as the Dollar, Euro, or Japanese Yen that is retained in a specific bank account. The Tether tokens, the Tether network’s native tokens, trade under the USDT symbol.
In contrast to the wide swings observed in the prices of other popular cryptocurrencies such as Bitcoin and Ethereum, Tether belongs to a new race of cryptocurrencies called stablecoins that aims to keep cryptocurrency valuations stable. Instead of being used as a means of speculative investment, this would allow Tether to be used as a medium of exchange and a mode of storage of value.
Tether was specifically developed to create the necessary bridge between fiat currencies and cryptocurrencies, providing users with stability, transparency, and minimum transaction fees. It is pegged against the US dollar and, in terms of value, maintains a 1-to-1 ratio with USD. There is, however, no guarantee provided by Tether Ltd. for any right to redeem or exchange real money for Tethers, i.e. Tethers cannot be exchanged for U.S. Dollars.
HiExchange is Better!
Cryptocurrencies are a financial apparatus to maximize privacy and efficiency. Sadly, regulations have been severely disrupting the market as they compromise both.
HiExchange seeks to be a platform that offers privacy and efficiency simultaneously while offering some of the most aggressive exchange rates in the market.
To make this happen, the platform does not require KYC or a sign up process. This way, all customers can easily make transactions without a possible compromise on their personal information.
However, privacy is a crucial element and not a luxury. In that regard, the platform offers some of the most competitive rates amongst all online exchanges. The rates are automatically determined utilizing an automated system and are updated as soon as change in value is detected.
Last but not least, by offering true 24/7 support, all customers will be in touch with the team in case anything goes unplanned.
How to Exchange Tether to USDC?
- Enter the homepage first, then select USDT (Tether) on the left field and USDC or on the right. Enter the amount you want to exchange and wait for the exchange rate to apply.
- Press Exchange and you will go to the next stage where you will enter your USD Coin wallet details, email, and phone number.
- One more time, click on the “Exchange” button and you will go to the next step where you will review your order.
- Complete the captcha and click on “exchange” to go to the next step where you will obtain a tracking ID. At this point, you will have the HiExchange wallet address to send the Tether to. After you have transferred your cryptocurrency, click on Pay Order button. Don’t forget to attach the screenshot for the USDT payment. your order will process swiftly.
- By finishing all the steps above, our team of professionals will send the USDC to your wallet ASAP.
That’s it!
Just like that, you have now converted USDT to USDC. In general, crypto payments don’t take very long to process. Give it a few minutes and the USD Coin will be in your wallet quickly. In the meantime, you can follow up on your order using the Track ID provided for you. Simply enter the track id in the required section on homepage to see at which point your order is. Remember not to share your Track ID with anyone else.
