USDT or Tether can be exchanged for USDC or USD Coin with ease. Both are stable coins with a good stature for legal adherence. You may want to exchange Tether for USDC the moment market conditions seem beneficial. There are several ways to exchange USDT (Tether) for USDC (USD Coin), but here are a few common methods:
- Use a cryptocurrency exchange: You can use a cryptocurrency exchange like Binance, Coinbase, or Kraken to exchange Tether to USDC. To do this, you’ll need to create an account with the exchange, deposit your USDT into your account, and then exchange it for USDC. The fees for this type of exchange will vary depending on the exchange you use.
- Use a peer-to-peer exchange: You can also use a peer-to-peer exchange to swap Tether to USDC. These platforms allow you to connect with other users who are looking to buy or sell USDT and USDC. Once you find a suitable trader, you can initiate the exchange and transfer the funds directly between your wallets. Be sure to carefully review the trader’s profile and ratings before initiating the exchange to ensure that they are trustworthy.
- Use a stablecoin swap platform: Some platforms allow you to swap between different stablecoins like USDT and USDC. These platforms use smart contracts to automatically facilitate the exchange, and the fees for these swaps are typically lower than those of a traditional exchange.
Regardless of the method you choose, be sure to double-check the exchange rate and fees before completing the transaction to ensure that you’re getting a fair deal.
For trading and using cryptocurrency, you will need a crypto wallet. The crypto wallet can be used to exchange different cryptocurrencies like trade BTC, SHIB for USDC, or Tether. The availability of pair changes will depend on liquidity. Here is an example of how to exchange Tether for USDC.
How to Exchange Tether to USDC on ZenGo wallet?
To exchange USDT to USDC on the ZenGo wallet, you can follow these steps:
- Open the ZenGo wallet app and make sure you have a sufficient USDT balance in your wallet to exchange.
- On the home screen at the lower part – tap on ‘Actions’
- Tap on the “Trade” tab.
- Select USDT as the currency you want to exchange from.
- Select USDC as the currency you want to exchange to.
- Enter the amount of USDT you want to exchange and the app will automatically calculate the amount of USDC you will receive.
- Review the exchange rate and the exchange fee, and make sure you are comfortable with them.
- Confirm the exchange details and enter your ZenGo wallet password or use biometric authentication to complete the exchange.
- Wait for the exchange to be processed. Once the exchange is completed, you will see the USDC balance in your ZenGo wallet.
Note: ZenGo uses a decentralized exchange (DEX) to facilitate exchanges, which means that the process may take a few minutes to complete. The exchange rate and fees may also vary depending on the current market conditions.