Since their creation and use, cryptocurrencies are known for their volatility. But, amongst the crypto coins that are gaining popularity and tackling the problem of cryptocurrency volatility, Tether was introduced in 2014 and became USDT later on. USDT because it is pegged to the U.S. dollar which does not change much in value.
What is USDT?
USDT is a blockchain-based cryptocurrency whose crypto coins in circulation are backed by an equivalent amount of traditional fiat currencies, like the Dollar, the Euro, or the Japanese Yen, which are held in a designated bank account.
It was specifically designed to bridge the gap between fiat currencies and cryptocurrencies and offer stability, transparency, and minimal transaction charges to users. It is pegged against the U.S. dollar and maintains a 1:1 ratio with the U.S. dollar in terms of value
Why is USDT useful?
Tether is useful for crypto investors because it offers a way to avoid the extreme volatility of other cryptocurrencies.
Inconvenient Banking services: Using USDT removes transaction costs and delays that impair financial transactions. The queue at banks and sluggish services rendered by Tellers could be vexing at times. Moreover, the plight of customers is also the high cost incurred during money transfers. However, using USDT, Batswana are able to avoid the transaction fees and exchange rate margin that banks charge depending on the foreign currency.
Safe Haven Asset: USDT has a value that is designed to be stable over any period. This feature makes it an ideal safe haven asset because, unlike cryptocurrencies like Bitcoin that can fluctuate dramatically in price every day, an individual using stablecoins to store value see no risk of loss, especially because they have full custody of their asset.
Remittance: Cross-border payments and remittances are real problems for Botswana emigrants. According to a World Bank report, African migrants have to pay as high as $12 for any $100 sent home unlike other emigrants who pay as little as $6 for the same amount. Given that most migrants connect with their families back home through money and good remittances, it is sad to note that they have to spend that much. It is no secret that remittances have helped to reduce poverty levels in Botswana, as its impact is felt in family settings where money received on a monthly basis, largely contributes to financing health, education and other basic needs.
Fortunately, Batswana and other residents now have a safe platform to trade USDT with the Botswana Pula at the best rates. Moreover, USDT on Yellow Card is available on the Tron network (TRC-20) which offers cheaper network fees to transfer your usdt between wallets.
How Do I Buy USDT in Botswana on Yellow Card?
To buy USDT on Yellow Card in Botswana, follow these steps:
- Sign up for a Yellow Card account
- Fund your wallet with Botswana Pula. You can add money to your wallet using an online bank transfer :
- Click on deposit
- Choose bank transfer
- Enter the desired amount
- Review and Confirm
- Lastly, click on I have made payments
2.1. ON MOBILE PLATFORM
- Tap on deposit
- Choose Bank transfer
- Enter your desired amount
- Confirm
- Bank Account and reference to use are displayed
- Complete the transfer
NB: After the deposit request is made, you need to deposit money into the account details given via online banking or ATM deposit
- Buy USDT on the TRON network. Just follow the steps below:
- Sign up for a Yellow Card account
- Tap on USDT
- Tap on Trade
- Tap on Buy
- Enter your desired amount
- Review and confirm.
How Do I sell USDT in Botswana on Yellow Card?
You can also sell USDT on Yellow Card. Log in to your account and follow these steps:
- Tap on USDT
- Tap on Trade
- Tap on sell
- Enter your desired amount
- Tap continue
- Tap confirm
Once you have sold your USDT, you can easily withdraw through your bank account or ATM withdrawal.
Conclusion
Cryptocurrency enthusiasts in Botswana can trade USDT using Yellow Card services. Escaping the volatility of other cryptocurrencies and protecting your finances against inflation is an opportunity no one should miss.
