How to Convert USDT to TRX on Bybit
Convert USDT to TRX: Bybit is fast becoming a replacement for Binance in Nigeria, especially since the latter suspended all its operations in Nigeria. If you don’t know this by now, then you’re probably living under a rock.
Bybit is currently one of the easiest exchanges to buy and sell cryptocurrencies, and the platform has over a hundred crypto tokens listed including major coins like Bitcoin, Ethereum, Tether, Solana, and more. It is a P2P trading platform where users can also convert cryptocurencies like Bitcoin, Ethereum, USDT, and so on into other cryptocurrencies. Not just cryptocurrencies and altcoins, users of the platform can also trade NFTs on the platform.
Crypto =
However, before even discussing how to convert USDT to TRX on Bybit, let’s start from the basics by talking about what USDT and TRX are. Especially because of those who might be new to the crypto space.
Just know that you’re in the right place, so keep reading, will you?
What is USDT?
USDT is also known as Tether, and Tether is a type of cryptocurrency known as a stablecoin. When we say stablecoin, it’s exactly what it means. Stable.
Unlike other cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc that are characterized by volatility, USDT isn’t.
It is designed to maintain a stable value by pegging it to a reserve of real-world assets, usually traditional fiat currencies like the US Dollar. The primary purpose of Tether is to provide the crypto community with a stable and secure alternative to the often volatile market.
What is TRX?
TRX which is short for TRONIX is a mainnet token based on the TRON protocol issued by TRON foundation. It is the basic unit of accounts on the TRON blockchain.
TRON itself is a blockchain based technology and platform, and a decentralized database system that serves as a backend for cryptocurrencies with smart contract functionality and proof of stake principle.
Crypto =
This network has a native token, TRX and this native token is not mined like other cryptocurrencies. The system rather developed a different approach which is called the delegated proof of stake mechanism. This token is used to gain access to functional software features, which means that TRX’s primary purpose is for use on the TRON network. This doesn’t mean it cannot still be traded on exchanges as a digital currency.
How to Convert USDT to TRX on Bybit
To convert USDT to TRX on Bybit, the first thing you have to do is to register on the platform first. Obviously. To do this, you have to download the app from the Google play store or Apple store, and install the app.
Then create an account if you do not have one. Creating an account in easy, and in a couple of minutes, a verification code will be sent to your email address.
Afterwards, you’ll need to verify your identity. Verifying your identity involves uploading a government ID such as Nigerian passport, NIN, BVN, Drivers’ licence and so on, and then uploading a selfie. This is a KYC (know your customer) verification process.
Crypto =
Here’s how to convert USDT to TRX on Bybit:
- Sign in to your Bybit account. You’ll be directed to the home page where you’ll see different icons like Bybit Earn, Web3, Card, Rewards Hub, Invite Friends, Copy Trading, Trading Bot, and More.
- Click on “More”. You’ll see headings like ‘Recommended’, ‘Buy Crypto’, ‘Trade’, and ‘Earn’
- Go to ‘Trade’ and click on “Convert”. You’ll be directed to a page where you’ll see two cryptocurrency boxes: the one you want to convert from, and the one you want to convert to.
- For “From”, select USDT
- For “To”, select TRX
- Input the amount of USDT you wish to convert
- Click on “Quote”, where you’ll be directed to another page to continue
- Your USDT will have been converted successfully.
That’s it. Easy-peasy!
An Alternative to Bybit
Dtunes is the best alternative to Bybit. Dtunes is a prominent cryptocurrency exchange platform based in Nigeria, and its user-friendly interface is what makes it easy to use for both crypto newbies and expert traders.
This cryptocurrency and gift card exchange platform offers the best rate, fast transactions, 24/7 customer support, and a seamless and secure platform to trade compared to any other platform.
Conclusion
Crypto =
Knowing how to convert USDT to TRX on Bybit is very simple, and by now, you should already know how to go by it. However, if you still do not, we suggest you go through the article all over again, taking it slowly this time.
You can also decide to try out other platforms like Dtunes if you think Bybit doesn’t have what you’re looking for.
Crypto =
