How Can You Profit From Selling USDT (Tether) in Dubai?
USDT as a stablecoin has gained traction for the second time during the last 5 years. Selling USDT in Dubai is popular and people can profit in more than one way through selling USDT in Dubai.
Since the emergence of the Tether with the name of Realcoin in 2014, USDT became popular as it hit the markets. They intended to create a cryptocurrency with real-world backing, making it 1:1 pegged to the US dollar. The stability that Tether proposed made people buy and sell by hedging the risk of instant price fluctuations. The stable coin began to operate on the Bitcoin blockchain, but shortly they adopted it to the other blockchains.
According to "The Rise of Stablecoins," the stablecoin supply has increased significantly since 2020. During the initial 5 years, the total supply of stablecoins increased to 6 billion USD, and quite surprisingly, the doubling the number just took 4 months in 2020. Buyers and sellers of USDT are even more than Bitcoin. The volume of transactions is 2-3 times more than the Bitcoin. The huge increase in the volume of USDT proves that it is one of the highly preferred and traded cryptocurrencies.
Why rush to sell USDT (Tether) in Dubai?
The price of cryptocurrencies is fluctuating and holders of digital currencies need to act fast during bear and bull periods. These actions can cause rush during extreme price increase and decrease. When the price of other cryptocurrencies spikes, fear-of-missing-out occurs and people tend to sell USDT to buy other digital currencies. In other words, people rush to sell Tether if they see better opportunities in the market.
Almost every cryptocurrency has its own trading pair with Tether. That's why people prefer to hold their holdings in USDT. Each time people want to trade, they sell part of USDT holdings to buy different digital currencies, and this interaction increases its trading volume.
People sell USDT in Dubai in bulk amounts, to cash out the gains that they get from the investment. The initial investments can double, triple, or even more during boom periods. Probably, to lower the risks, they hold profits in the stable coin. When they want to meet urgent cash needs, they sell USDT holdings to cash in Dubai. Many exchanges serve as an intermediary in the market such as Coinsfera. People can sell USDT in Dubai at Coinsfera which is located in Business Bay.
When to sell USDT (Tether) to profit more?
Another urging question that may arise is the timing when to sell stablecoins. As well as the reasons, it is also crucial to decide when to sell USDT in Dubai.
Throughout the crypto boom periods, which is also known as bull-run, people invest in numerous assets to gain profit. This period is usually specified with selling USDT to buy riskier crypto assets. As you know, Tether is a stablecoin and does not rise in value like the other cryptocurrencies. The timing of selling USDT to buy other cryptocurrencies is usually right when the market is on the rise, and probably the investment will yield some profits.
However, during the bear market trend, investors need to be careful when to sell their stablecoins. The best side of being stablecoin proves itself during bear periods. If people do not want to lose some part of their investment, they convert it to stablecoin. When they get a buy signal, it becomes easy to sell USDT and buy the dipped cryptocurrency. This occasion can result in better results if the market gets on its feet again.
Besides those, we should not forget that the USDT is the cryptocurrency of Tether Limited and any investigation can disturb the price. Periodically, SEC or other organizations investigate the operations of Tether. Even though USDT offers a stable 1:1 USD-backed cryptocurrency, it does not mean it is 100% safe. If they found any suspicious actions it can adversely affect the price stability of the coin. During the investigations, to avoid any mishappening, you can prefer to sell your stablecoins for another cryptocurrency.