Do I need to get verified to swap USDT to BTC?
Yes, but not with a passport or some other form of official identification - but rather with your email. It’s also not tied to exchanges from Tether to Bitcoin. Anyone who doesn’t have a Changelly account will need to pass email verification upon creating a new account. Once confirmed, your email will also get access to the password reset, transaction history, or other changes to your account.
It’s also important to mention the Google Authenticator app here. It ensures two-factor authentication for every sign-up. It is optional but highly encouraged to make your account more protected against malicious actors.
What is the minimum USDT/BTC pair exchange amount?
When you convert Tether to Bitcoin, the transaction amount needs to be no lower than 94.5 USDT. This would amount to 0.0020273 Bitcoin.
As you know, digital currencies are very volatile. So, even in 30 seconds, 94.5 USDT may equal a slightly different amount of BTC due to a price change. If you know exactly how many bitcoins (or what fraction of Bitcoin) you want to get, then consider opting for a floating rate.
What are the fees to convert Tether to Bitcoin?
We divide our fee structure into two tiers so that users know precisely how much extra they were charged and for what. The first fee is the platform fee - 0.25%. For a minimum transaction of 94.5 USDT, the fee would be 0.00000634 BTC. For a maximum allowable amount (385,395,882.1616195 BTC), it would be 21.15138412 BTC.
The second type of fee is the network fee - 0.0005 BTC. It’s like an ETH gas fee, a miner reward for processing the transaction.
Can I trade USDT for BTC on Changelly?
Yes, but not just on Changelly but on a full-fledged trading platform - Changelly PRO. This is a tool that allows you to make the most out of cryptocurrency markets. For instance, your trading pair doesn’t have to include Tether or Bitcoin. You can experiment with other currencies, like BNB, ETH, USDT, ADA, XRP, LTC, etc.
If you’re not yet confident in your skills, we still encourage you to give it a go. But before placing your money into cryptocurrency, of course, do as much research as you can. You have a learning hub with tips and tricks for aspiring traders.