How to convert USDT to BTC on Binance?
Nowadays, the use of crypto currencies is common all over the world. There are many ways you can convert your money into crypto currency. One of these ways is to use an exchange. In this article on the Shetcoiner site, we reviewed one of the best exchanges in the field of crypto currencies and reviewed it from different sections. We also mentioned how you could convert one currency into another currency in this exchange. In the continuation of this article, we also mentioned other topics, such as:
- What is Binance?
- What is a Binance exchange service?
- Ways to use crypto currency
- Why use Binance? How to convert USDT to BTC on Binance?
- How to convert USDT to BTC on Binance?
If you want to know more about these topics, check the Shetcoiner site. Also, if you have any questions in this area, you can ask us in the comments section.
What is Binance?
Binance Exchange is a leading crypto currency exchange founded in 2017 in Hong Kong. This feature focuses heavily on altcoin trading. Binance offers crypto-to-crypto trading in over 360 crypto currencies and virtual tokens, including Bitcoin, Ether, Litecoin and its coin, BNB. Binance was created in 2017 Chengpeng Zhao, a famous entrepreneur, investor and software engineer. He started the exchange in July, and within six months, it became one of the largest cryptocurrency exchanges in the world.
Binance exchange is known mainly for crypto-to-crypto trading; Trading between two digital currency pairs has the lowest transaction fees. This exchange has high liquidity and discounts fees to users who keep BNB in their wallets. Binance offers high processing power with a processing capacity of about 1.4 million orders per second. In 2019, Binance Global Exchange was banned in the US due to regulatory concerns. Der opened the next stage of this exchange, Binance.US; This exchange is an exchange that complies with US securities and exchange regulations.
What is a Binance exchange service?
In addition to special exchange services, Binance also offers other tools, platforms and services. Some of them are Binance Earn, a platform for betting or earning profit by depositing stablecoins in the exchange. The exchange offers investors multiple options and interest rates for these coins. Next, let’s check the various services that you can get from this exchange:
Ways to use crypto currency
Binance Smart Pool allows miners to switch between cryptocurrencies to optimize and increase their earnings, while Binance allows you to use cryptocurrency to pay for purchases worldwide with zero fees. Use it on Binance Market as well.
Lending
Binance Card is a Visa credit card that allows users to convert their digital currency into fiat currency and spend it on products and services. While conversion does not incur administrative fees, third-party fees, such as payment network fees, apply. Binance crypto loans allow users to borrow for spot, futures and margin trading.
Development
Binance has a blockchain technology division called Binance Labs that nurtures promising pre-ICO projects. It helps deserving cryptocurrency project teams by providing development funding, consulting resources, and a launch pad for any listing and fundraising exercises necessary.9 Binance also provides a site called LaunchPad to host the project. It provides new and emerging blockchain and API interfaces. As of February 2023, 66 projects have been launched.
BNB currency
Binance Coin, or BNB, is the platform’s internal token to facilitate crypto trading on the Binance exchange. The coin was launched during an initial offering or ICO in July 2017. Binance offered 20 million BNB tokens to loyal investors, 80 million tokens to the founding team, and the remaining 100 million tokens to various participants through the ICO process.
About half of the capital raised during the ICO process was earmarked for Binance branding and marketing. At the same time, about a third was used to build the Binance platform and make necessary upgrades to the Binance ecosystem. Binance Coin was initially implemented on the Ethereum blockchain with the ERC 20 standard. However, in 2019, Binance Coin became the leading coin of the BNB chain.
Why use Binance? How to convert USDT to BTC on Binance?
| Advantages | disadvantages |
| Low fees | Exchange embargo in the United States |
| High security | Banned in some countries |
Binance is an exchange that millions of people use and is trusted as an exchange and a medium for cryptocurrency transactions. However, like all third parties involved in blockchain and crypto, it is vulnerable to hacking; But you can trust it with the high security and extensive services it gives you.
One issue for those reading this article from the US is that US citizens can use Binance.US and be protected by US laws. Access to Binance from the United States and other countries is restricted, and using alternative connection methods, such as Virtual Private Network, is against the Binance Terms of Service.
How to convert USDT to BTC on Binance?
Converting Tether to Bitcoin on Binance step by step:
- Enter Binance website first
- Go to the “Trade” menu at the top
- Click on the first option (Convert) to go to its page
- Enter your desired USDT in the first text box
- In the bottom field, find the Bitcoin option and select it
- Now click on the “Preview Conversion” to see a preview of your converting
- Now that you made sure everything is OK, click on the “Convert” Button
- If the timer on the “Convert” button was over and there was a “Refresh” button instead, click on it to see the newer Binance approved price and the click on the “Convert”
- Try to reach and click on “Convert” button before timer expiration and click on “Convert” without needing to refresh the prices.
- After clicking on “Convert” a page with the text that says “Successful” and green check would be shown to you
- In this page you can click the back button to return to the last page and then click on “View Status”
- You will go to the “Trade history” page and there you can see that your transition was successful of not.
Conclusion
In this article on the Shetcoiner site, we thoroughly answered one of the essential questions of users and reviewed the best exchange in the field of digital currencies. In this article, you learned that How to convert USDT to BTC on Binance?; We also mentioned other topics in this article, such As:
- What is Binance?
- What is a Binance exchange service?
- Ways to use crypto currency
- Why use Binance? How to convert USDT to BTC on Binance?
- How to convert USDT to BTC on Binance?
If you want to know more about crypto currencies read the following articles on Shetcoiner site.
I want to know that are the steps the same in other exchanges? for example Kucoin…
Hi
Can you tell me are these steps the same for all conversions?
How do I buy USDT in my Binance account?
Click on the “Buy Crypto” link on the top left of the Binance website navigation, which will show the available options in your country. For better coin compatibility, you consider buying a stablecoin like USDT or BUSD first, and then use that coin to buy Tether (USDT).
Hello
Thanks for this useful article
How can I get more information about the trade?
Hi
I am glad to hear this.
You can contact our colleagues if you want to know more about the trade.