fbpx
Founder Institute Lagos Founder Institute Lagos Founder Institute Lagos
  • Home
  • About
  • Partners
  • Advertise
  • Contact
  • Signup to receive updates
Innovation | Startups | Funding | Tech Blog in Africa
Advertisement
  • Home
  • Startups
  • Hubs
  • Funding
  • WomenTech
  • CleanTech
  • Blockchain
No Result
View All Result
  • Home
  • Startups
  • Hubs
  • Funding
  • WomenTech
  • CleanTech
  • Blockchain
No Result
View All Result
Innovation | Startups | Funding | Tech Blog in Africa
No Result
View All Result

Paxful includes Tether (USDT) a Stablecoin to its Marketplace

by David Okelezo
2020/09/15
in Uncategorized
tetherworks

tetherworks

Share on FacebookShare on Twitter
Tweet
Share
Share

Tether (USDT) has recently been added by Global peer-to-peer bitcoin marketplace, Paxful, to its platform

Users can now convert BTC to USDT to protect their funds from volatility, with trading function in the development.

USDT belongs to a class of cryptocurrencies known as stablecoins.

A stablecoin is a type of cryptocurrency whose value reflects an existing fiat currency (e.g. US Dollars).

RelatedPosts

Sophos Excels in MITRE Engenuity ATT&CK Evaluations with 99% Detection Coverage

TSSF 4.0 Set for Dialogue on Data Centre Ahead of $517Bn Global Boom

Flapmax announces 12 African Startups Selected for FAST Accelerator Program

NCC announces change to Fixed Lines Numbering Format

The inclusion of USDT, the world’s largest stablecoin by market value, will assist users in combating a volatile market, protecting their assets, and expanding their portfolio.

The industry has seen a surging demand for a stable digital currency amidst fears of an economic recession in both traditional and digital markets.

In the last 12 months, Tether has established itself as a champion amongst stablecoins, with a market capitalization of over $13 billion.

Ray Youssef, CEO, and co-founder of Paxful said:

“We consider this a big step for us since this is the first cryptocurrency other than bitcoin we have on the platform,.

We always listen to our customers. We understand that some come to Paxful for wealth generation and turn to crypto for stability when their national currency is affected by inflation.

We hope that this can aid them to be more in control of their finances.”

The addition comes with a hedging option, allowing users to instantly convert BTC to USDT and vice versa, helping the users protect their funds during bitcoin price fluctuations.

The company also plans to enable USDT trading on the platform.

Same as with the bitcoin (BTC) trading in the Paxful marketplace, users can buy and sell USDT with over 300 payment methods.

The USDT balance is accessible via the wallet page, where the current market price for both coins is displayed.

The launch of this feature marks Paxful’s first step towards potentially adding new cryptocurrencies in the future.

The company recently announced that the platform Paxful has hit 4.5 million registered wallets, reached 4.6 billion USD in trading volume, and reduced dispute levels to under 1%.

Since inception, they have added 1 million users per year and so far in 2020 and are on track to sign up an additional 2 million users by the end of the year.


Featured Image: bitcoinmagazine


Don’t miss important articles during the week. Subscribe to cfamedia weekly digest for updates.

Join @techbuildafrica on Telegram
Tweet
Share
Share
ShareTweetShareSendShare

Subscribe us

Recent Posts

  • Sophos Excels in MITRE Engenuity ATT&CK Evaluations with 99% Detection Coverage
  • TSSF 4.0 Set for Dialogue on Data Centre Ahead of $517Bn Global Boom
  • Flapmax announces 12 African Startups Selected for FAST Accelerator Program
  • NCC announces change to Fixed Lines Numbering Format
  • GoMyCode, Eridan Group partner to host “Opportunities in Tech” Workshop
  • 24 Finalists announced for 2023 AWIEF Awards
  • LG enhances Brand’s Vision for Smart Living, showcases Top-rated Energy Efficient Products at IFA 2023
  • Bard Can Now Connect to your Google Apps and Services
  • South African Credit Market Report 2023
  • Meta announces Features to create New Experiences for WhatsApp Business Users
Innovation | Startups | Funding | Tech Blog in Africa

© 2013-2021 techbuild.africa. All Rights Reserved.

Navigate Site

  • About
  • Contact
  • WE-Forum
  • Privacy
  • Sitemap
  • Terms
  • Blockchain
  • CleanTech

Follow Us

No Result
View All Result
  • Home
  • Startups
  • Hubs
  • Funding
  • WomenTech
  • CleanTech
  • Blockchain

© 2013-2021 techbuild.africa. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In