How to Protect Yourself from Crypto Crash? BTC to USDT Conversion
Protect Your Investment with BTC to USDT Conversion
The crypto market has been somewhat turbulent lately. That’s nothing new, really, as crypto users are used to huge market fluctuations. Still, some who are afraid that they’ll lose their wealth due to BTC dropping are looking for ways to save their crypto fortune. One such method is converting BTC to USDT.
In this article, we’ll cover the latest events surrounding BTC and USDT, what affects their prices, and how to swap “digital gold” for Tether successfully. Read on.
What Is Happening with Bitcoin?
Bitcoin plummeted in June and July 2022, reaching one of the lowest prices since 2020, which made many BTC owners panic and sell the popular crypto. The price reached its lowest point on June 18, when it was slightly less than $19,000, which was a similar price to the one that BTC reached during the first crypto increase in December 2017.
What Affects BTC Price?
In most cases, the price is affected by supply and demand, but many other factors are important. For example, various world events will cause price fluctuations, such as coronavirus, political news, and even legal changes in some countries. Of course, there are always other competing cryptocurrencies, investors’ sentiments, and more.
Should You Expect BTC to Regain Its Power Quickly?
It seems that BTC reached the floor price in June and is slowly regaining its value. It’s not possible to say how long it would take to recover, but it definitely won’t climb to the all-time high set in 2021 ($64,800) by the end of the year. In the long run, however, experts believe BTC will reach a much higher value.
What Is Happening with USDT?
USDT (or Tether) is a stablecoin pegged to the US dollar. It has managed to remain relatively stable during the latest crypto crash, with fluctuations only affecting the third decimal in regard to the US dollar. For example, the most USDT dropped in 2022 was $0.996, and it improved quickly after Terra, another stablecoin, collapsed, and people started massively selling USDT, fearing the same could happen to it.
What Affects USDT Price?
Even though USDT is stable, its price is affected by several factors. The main one is the US dollar. If its value changes, the value of USDT will change as well since it’s pegged to USD. However, the third-decimal changes are also affected by various events, supply, and demand. Still, Tether’s price has managed to remain relatively stable for a long time, which is why many consider it a great option for saving money.
Save Your Investment with Godex
Godex is a popular online exchange that offers completely anonymous trading. If you want to quickly swap BTC to USDT, you’ll need just a couple of minutes on Godex for that. In the following section, we’ll explore the main benefits of this crypto exchange and how to use it.
The Benefits of Godex
Here are the main benefits of using Godex for exchanging cryptocurrencies.
- Unlimited trading — There’s no upper limit to how much you can trade on Godex. You can virtually swap your entire amount of BTC and buy USDT via the popular decentralized exchange.
- Fixed rate — Once you start the exchange process, Godex will freeze the prices that were relevant at the time you initiated the swap, and make the exchange at these prices.
- Anonymity — There’s no need to register on the platform, meaning you can use it to swap crypto completely anonymously.
Guide to Using Godex Exchange
Using Godex is actually quite simple. Here’s how to swap crypto.
- Choose the currencies you want to swap — You can, for example, change LTC to BTC, or any two available cryptocurrencies on the platform.
- Enter your wallet address — You will be asked to provide an address for your wallet where you’ll receive your newly exchanged funds (USDT in this case).
- Make a deposit — Once you provide a wallet address, you’ll have to proceed with the transaction. At this point, you’ll be requested to deposit your funds from the wallet where your BTC is stored.
- The exchange process — The exchange could take up to 30 minutes before it’s processed.
- Receive your funds — Once Godex does its job, you’ll see your USDT available in your wallet.
