How to Transfer USDT

If you’re interested in how to transfer USDT to another wallet or convert it into fiat money, good news — it’s a straightforward process even for beginners in the crypto world. In the first case, you need to choose a suitable service to send your digital coins. It’s important to carefully follow the instructions when transferring USDT to another wallet.

You should also consider the protocol types used for crypto transferring. In the past, only the Omni Layer on the Bitcoin network was available, but there are more options now, each adding its own specifics to the USDT transfer process.

USDT Features

USDT is considered a stablecoin on the crypto market. This digital coin is a revolutionary project by Tether Limited. It was developed in July 2014, with its official sale launching the following year.

According to statistics by CoinMarketCap, today, Tether ranks third among digital coins in market capitalization. USDT’s market cap stands at an impressive $ 120 billion.

Tether (USDT) is a cryptocurrency with a pegged value to the USD. Many traders actively use it to transfer the fiat equivalent value between different exchanges without the need for traditional fiat regulation.

USDT’s history includes a few instances where its rate fell below one US dollar. However, it remains a popular choice among traders due to its backing by Tether’s reserves. Despite this, concerns about the issuing company’s solvency remain significant among investors.

Before diving into the transfer USDT specifics, let's take a closer look at the key features that set this digital coin apart.

USDT was initially implemented on the Omni Platform tied to the Bitcoin blockchain. Later, Tether relaunched it on the Ethereum blockchain, which has since become the most widely used network for this stablecoin. Over time, USDT tokens were also integrated into six other blockchains, including Tron, Solana, and OMG Network.

The peg to USDT is provided by a deposit: it’s believed that 1 USDT equals 1 US dollar in fiat or other assets held in the trader’s deposit. Tether can be exchanged at any time for an equivalent amount in fiat. However, if you’re wondering how to transfer USDT into dollars directly, you should realize that this can only be done on a limited number of exchanges.

Traders and investors actively use Tether as an alternative to fiat money. There are three compelling reasons:

• Transaction processing speed

Opening dollar deposits and withdrawing funds to a card on foreign exchanges is a very time-consuming and labor-intensive process, taking from one to four calendar days. This timeframe can be significantly extended if a transaction occurs on a holiday or after bank hours. In contrast, transactions involving USDT are executed quickly, often within just a few minutes. Processing trade speed is a crucial factor in the world of competitive exchange trading.

• Minimal transaction fees

Transactions using the international SWIFT payment system often come with high fees. When conducting trades in a fiat currency different from that used by the exchange, traditional banking fees can include charges for foreign currency conversion, along with a percentage deducted from the transaction amount. In contrast, USDT allows users to transfer any amount between wallets for free, with only the blockchain network fee charged.

• Stablecoin ‘stable’ value

Volatility, the crypto hallmark, creates significant risks when converting various digital coins. It’s not uncommon for a favorable exchange to be replaced by a loss-making one while a trader still waits for their transaction to process, resulting in potential losses. So, using a stablecoin is highly beneficial, as the primary (and often sole) concern becomes the price of Ethereum.

USDT Transferring Protocols

Tether initially used the Omni Layer as its transport protocol on the Bitcoin blockchain. Over time, the number of available protocols has significantly expanded, allowing USDT tokens to be directed to various addresses today.

Tether can be sent to almost any address on the Ethereum blockchain as an ERC-20 token. This technical standard applies to all smart contracts on the Ethereum blockchain. When conducting transaction operations, keep in mind that the fees will be charged in ETH. You can also send USDT to any address on the TRON network as a TRC-20 token. This network is famous for its speed and low transaction fees.

The BSC blockchain uses BEP-20 as a transport protocol. BEP-20 tokens can be utilized across various DeFi protocols on the Binance Smart Chain.

How to Transfer USDT to a Hot Wallet

Let's find out how to transfer USDT to a hot wallet or someone else’s account without any hassle by looking through the useful instructions outlined in this guide.

Most hot wallets generally have the same working principles — they usually only differ in their interface. You need to take the following steps:

• Choose Tether from the available currencies in the list. Then, go to the page of the desired token and click the ‘Send’ button.
• Enter the wallet address to which you want to transfer your funds. This address should be provided by an exchange, a trading platform, an individual, or an intermediary facilitating the transaction. Important note: Ethereum wallet addresses always start with ‘0x’ (several other blockchains may also begin with similar characters).
• The last step is to enter the token number you want to send to the wallet. If you wish to transfer all your available assets, click the ‘Send all’ button.
• Then, the transaction fees will be calculated automatically. The fee amount depends directly on the transactions’ number currently waiting to be processed. If you need the transaction to go through quickly, click the ‘Set Fee’ button and slightly increase the fee amount —this will give your payment a higher priority in the queue.

When using a mobile wallet, there's no need to enter the address each time manually — you can simply scan the QR code instead.

An important note: you need to have funds in your account to complete the transfer and cover the transaction fee. For example, if you're transferring USDT to BTC, there should be a small Bitcoin amount in the account to cover the fees.

So, to receive USDT in your wallet, you need to:

1. Go to your crypto wallet and click the ‘Receive’ button. This will display the address and QR code, which contains the details needed to credit funds to your wallet.
2. Send the details to the intermediary facilitating the transaction, or you can complete the fund transfer yourself.

Transferring USDT to a Hardware Wallet

Hardware wallets are considered the most secure technology for storing digital coins. The most popular ones today are Ledger and Trezor.

If you’re eager to know how to transfer USDT to another hardware wallet, here are the instructions:

• Unbox and set up the device. Write down the 24-word recovery phrase on a piece of paper and store it securely in a safe place
• Choose a wallet app and download it to your computer
• Unpack the archive and install the app on your device
• In the app settings, add the Ethereum and Bitcoin applications
• Create an ETH address, then select Ethereum from the list
• Click the ‘Continue’ button (for the first transaction, try withdrawing a small USDT amount for verification)
• Log into your account on the exchange that accepts USDT, or register, if necessary
• Go to the Tether withdrawal section to check the transaction status
• Then, you'll be able to confirm the transaction. It should appear in the list of completed transactions
• To work with tokens on the Ethereum blockchain, go to MyEtherWallet
• From the list, select the option to log in using your hardware wallet and authorize your access (if you face any issues, just contact support for assistance)
• Click on the ‘ETH Live derivation path’ in the menu that appears
• After this, the wallet will display the tokens associated with the ETH address, which represents the funds you withdrew from the exchange.

7 Ways of Converting USDT to Fiat

If you’re wondering how to transfer money to USDT or buy this stablecoin with fiat, you should use the following methods:

• Cryptocurrency exchanges. Most centralized exchanges (CEX) offer the option to buy crypto using a bank card or through online payment systems.
• Cryptocurrency exchangers. Today, they are the best option for trading and the most popular method for anonymously conducting transactions, not only with Tether but also with many other cryptos.
• P2P exchange platforms. These are decentralized DEX platforms where traders conduct transactions by directly exchanging their assets without involving third parties or organizations. When choosing an exchange, you should check whether it supports USDT, as most of these services primarily work with Bitcoin and Ethereum.
• Crypto wallets. You can deposit and withdraw digital coins through wallets, as most services provide these options.
• Electronic payment systems. This is a popular method of withdrawing stablecoins from exchanges and is widely used by many traders.
• Telegram bots. These bots allow users to buy, sell, and even store cryptocurrency through various methods at favorable rates.
• Cryptomats. These are special terminals that enable you to purchase digital coins with fiat money.

Today, P2P trading on EMCD is increasing in popularity. Just follow the link to the company's website to explore all the ecosystem’s features. Our platform users offer favorable exchange rates and trade crypto for fiat money and vice versa.

In summary, the various methods of converting USDT to fiat, as well as transferring it to hot and hardware wallets, can confidently be described as simple and easy-to-use, even for beginners.

Investors primarily use stablecoins as trading tools, offering all the reduced volatility benefits without time-consuming transactions and ongoing costs associated with converting to fiat money.

F.A.Q.

How do I withdraw USDT from the exchange?

On the chosen exchange, you need to transfer USDT to your wallet and sell crypto for fiat money. Then, fill in your bank account details and withdraw funds.

How do I transfer USDT from one exchange to another?

First, log into your account on the exchange, go to the ‘Deposit’ tab in the assets section, and copy the wallet address for the selected coin. After that, paste the copied address on the other exchange and send the desired amount.

How do I convert USDT to USD?

The most popular method for exchanging USDT to USD is through crypto exchanges. You can also transfer USDT via P2P platforms.