Here’s Why Saving with USDT Is a Superb Option for You
Not to be cocky (only just a little), but after reading this article, you’ll call up that friend you explicitly told to shut up about crypto. They’ll probably be chill about it because the sense of fulfilment after winning someone over is satisfying enough.
First off, are you Nigerian?
I need to know if you understand the struggle or some of it at least. I’m a Nigerian living in Nigeria, so you’d best believe I understand.
I imagine you’ve been advised often to invest or save your money in crypto, but you decided your village people sent the person telling you. You’ve found it challenging to understand why anyone would want to invest their money in a market as unstable as the cryptocurrency market.
Also, your finance is most likely suffering from the strain of Nigeria’s inflation rate, measured at 19.64% in July 2022, and you’ve been toying with several saving or investment options.
Does this sound like you?
Maybe, this isn’t you at all, and you’ve just been searching for a safe entry into the crypto ecosystem.
Either way, I’ve got you covered and have the answers you seek in this article. You won’t have to worry about losing your money’s value or bearing the brunt of the risks that come with crypto, and you certainly won’t have to worry about your village people’s ploys.
I would’ve loved some suspense, but I know money matters are urgent.
Understand this, USDT will be your saviour; forget everything you’ve heard about cryptocurrency.
What exactly is USDT?
Here’s the thing, Tether (USDT) is the largest stablecoin and one of the market’s most prominent blockchain-based cryptocurrencies (by market capitalisation).
Yes, you read that correctly.
Even in the rapidly fluctuating crypto market, some form of stability still exists. Stablecoins are a type of cryptocurrency (altcoins) that maintain incredibly low volatility by being attached to the value of a relatively stable asset such as gold, fiat currency, or another digital currency.
In simpler terms (I’m not calling you a dummy, I promise), prices of stablecoins are steady because they draw their stability from the asset they are pegged to.
Now, the undramatic USDT is pegged to the U.S. dollar at a ratio of 1:1 (that is, each USDT unit is valued at 1 dollar), providing it with the price stability of the dollar and utility as a reliable store of value.
You’re probably wondering, “Is USDT safe?”
USDT has a transparent, fully backed collateral reserve which is published daily. Tether Limited has also asserted that it allocates equal amounts of the U.S. dollar to issued USDT tokens, so you can rest assured that the stablecoin is backed and protected.
As a matter of fact, USDT provides liquidity to crypto traders, enabling them to transact with minimal losses (or gains) due to erratic cryptocurrency price fluctuations.
But you’re not a crypto trader yet, are you? So the million dollar question is:
How Can You Wield USDT to Your Advantage?
Look, if you’re like me, you make it a point to steer clear of anything that poses a likely threat to your funds, including online shopping stores. So I can categorically say that I understand your scepticism around crypto-related subjects.
But respectfully, move out of your way!
USDT has several benefits for the average Nigerian, and I see no reason for you to oppose a low-risk helpful financial hack.
Here is how USDT can be useful to you:
Protect Yourself Against Inflation
Unfortunately, Nigeria has been in an extensive economic crisis with no end in sight (every day, I hope for change). Inflation rates are at an all-time high, forcing Nigerians to save their funds in more valuable currencies like the U.S. dollar to retain their money’s worth.
Listen up!
Before you rush off to buy your dollars at exorbitant rates and further devalue and weaken the naira, USDT is a splendid alternative that protects your funds without harming the already bruised economy.
You don’t need to be told twice, but USDT is the perfect digital currency to guard your money against inflation without fearing price fluctuations.
Not only do you avoid the loss of your money’s value, but you can also count on inflation to make you richer by increasing the naira equivalent to your saved USDT units.
A win-win situation if you ask me.
You can buy USDT safely on Yellow Card.
Make Convenient International Transactions
We all know that international transfer charges are hellish and discouraging. Getting money across to individuals and businesses in other countries can be extremely costly and unappealing.
USDT to the rescue!
Endowed with a borderless feature, USDT makes international transactions convenient, trouble-free, and affordable. You can easily send money safely and cheaply to your loved ones, business partners, and beneficiaries across borders.
Plus, using USDT for international payments is much quicker than the typical international transfer process.
Safely Enter the Cryptocurrency Ecosystem
If you’ve been looking for a way to get into the crypto sphere without having to stomach big blows on your funds, then USDT is the perfect fit.
It is safe, stable, and low-risk and provides reliable liquidity to investors.
Subsequently, you can build up your crypto wealth by purchasing other cryptocurrencies with the globally acknowledged USDT, as some exchanges would not accept the local currency.
Read also: How to Save with Stablecoin and Hedge Against Devaluation
How to Store Your Funds with USDT
Of course, you’re already convinced at this point, so I’ll just go ahead and guide you on how to save with USDT securely.
You can easily buy USDT at the best rates on Yellow Card with no hidden charges, and safely hold the USDT in your wallet for as long as you’d like.
Follow these simple steps to get started:
- Sign up for a Yellow Card account, then verify your information
- Log in to your account if you already have one
- Deposit money into your wallet for free
- Select the “Buy USDT” option in your wallet
- Buy the amount of USDT you require
You’re all set!
Remember, the funds in your wallet are protected and can only be traded or withdrawn at your discretion.
Happy saving!
Read for a detailed guide to buying USDT on Yellow Card.
Why Choose Yellow Card?
Don’t be deceived; going into crypto is risky and requires caution. Seriously, you must constantly be on guard because fraudsters sniff out investors’ naivety like ants to sugar. Many (including me) have fallen victim to these scams and have lost their hard-earned money.
As such, Yellow Card is the best option for you because it is a safe and credible platform for trading cryptocurrency with a mission to create financial inclusion across Africa.
Take my word for it.
Besides being a reliable fintech company, Yellow Card is the easiest and most secure way to buy, send, receive, sell and store crypto, including tether (USDT), at the best rates with significantly low transaction fees.
Also, they provide exceptional customer service available to users at all hours. Think I’m kidding? Check it out yourself here.
You’ll like this one.
Yellow card is funding a raffle draw rewarding a hundred random users weekly with 50 dollars. To be eligible, you’d have to trade at least 10 dollars worth of crypto, and there is also a grand prize at the end of the September worth 150 dollars.
I love the sound of that; sign me up!
Conclusion
All in all, USDT as a stablecoin provides an option for Nigerians to guard their finances against inflation, regulate the risks typically related to the crypto market, and flourish financially.
To that end, Yellow Card is devoted to creating an effortless, inclusive, and affordable platform for you to achieve your financial goals.
On second thought, I don’t think you’d need to call your friend at all. I already hooked you up, so you can save face.
Don’t forget to download the Yellow Card mobile app from the App Store for iOs or Google Play Store for Android, or visit the website to begin your crypto journey.
This article was written by Kaosisochukwu Nkpolara for Yellow Card.
