If you have invested some money in the cryptocurrency Tether (USDT), it is not that easy to have the value paid out in euros again. We will show you how to do this and get your money back in your account in euros in this practical tip.
Convert Tether (USDT) to another cryptocurrency
So far, there isn’t one where you can withdraw Tether directly into euros. Therefore, you must first exchange the coin for another cryptocurrency.
- Bitcoin, Bitcoin Cash, Ethereum, or Litecoin are most suitable for the exchange, as these coins are widely accepted.
- If you already have your Tether at an exchange that offers exchange for another cryptocurrency, you can make the change directly there.
- If this is not the case, the Binance.com exchange is ideal for the business. Only an e-mail address and a password are required to register.
- Then transfer your Tether to the Binance account.
- Via “Börse” > “Basic,” you will find the item “USDT” at the top right of the search mask.
- For example, click on the “BTC/USDT” exchange pair below.
- You can now purchase Bitcoin with your deposited USDTcoin via the “Buy” item.
Have exchanged tethers (USDT) paid out in euros
After exchanging your Tether, you can have the coins transferred to your account in euros.
- The largest German-speaking crypto exchange that pays out Bitcoin, Bitcoin Cash, Ethereum, and Litecoin in euros is Coinbase.com.
- After registering with the provider, you still have to confirm your identity. We used the driver’s license for this.
- You can then transfer the crypto-coins from Binance to Coinbase.
- The currency can now be exchanged for euros using the “Sell” button.
- The money then goes to your account via SEPA transfer.
Tether (USDT) – Receive money via Paypal or voucher
You can also have your exchanged currency paid via PayPal or an Amazon voucher without registering.
- The provider Anycoindirect.com is ideal for receiving euros via PayPal.
- Select the coin you want to sell from the list. Then enter the number of cash to be sold and your PayPal address.
- The provider bitpanda.com offers an alternative, offering transfers via Neteller, Skrill, or as an Amazon voucher.
Note: Cryptocurrencies are subject to strong fluctuations, and therefore invest only a tiny part of your assets in such a speculative investment. You can find out what the cryptocurrency Ripple is all about in the following practical tip logintutor.org.
What is Ripple? Easily explained
Ripple is now one of the most successful currencies among the many crypto coins. This article explains what exactly is behind Ripple and what advantages and disadvantages there are compared to Bitcoin.
Ripple (XRP) – emergence and basics of the cryptocurrency
- Ripple cryptocurrency was created in 2012 by Ripple Labs. However, what is extraordinary is not the coin but the underlying protocol.
- At the end of its expansion stage, the Ripple protocol is intended to be a foreign exchange market and a payment intermediary. Ripple supports any currency (dollar, euro, bitcoin, etc.).
- Ripple makes it possible for a decentralized register to be created that stores how much of which currency one person owes another and vice versa. As a result, so-called IOUs (German: promissory notes) are issued. The usual bookkeeping is no longer required, and only meager costs are incurred when changing currencies.
- The coin is intended to avoid network spam and serve as a bridge currency in these transactions.
- Banks are particularly interested in the system, and some are also active in the Ripple project – such as Bank of America, Santander, or American Express.
- So far, Ripple Labs has distributed around 40 billion XRP, with 15 billion still to be spent. There are 100 billion XRP – Ripple Labs keeps 55 billion XRP.
- In an extra article, we will tell you in detail how you can buy and trade Ripple.
Pros and cons of Ripple versus Bitcoin
- The Ripple protocol can connect many existing payment networks. Bitcoin is its means of payment.
- With Ripple, users can be in mutual debt. With Bitcoin, you don’t know which person owes another how much money.
- XRP can be traded much faster than Bitcoin. Up to 1,500 transactions per second are possible with Ripple and up to twelve with Bitcoin.
- In theory, Bitcoin can be counterfeited if enough computing power is pooled. Ripple, on the other hand, is counterfeit-proof.
- Ripple has been criticized for saying that a for-profit organization is behind the protocol and the coin. This is contrary to the idea of Bitcoin.
- The Ripple protocol also aims to cooperate with banks. Bitcoin bypasses banks as intermediaries.
- There is no privacy in payment transactions with Ripple.