It has been proven to become one of the universal cryptocurrencies used by virtually every trader to facilitate cross-chain transactions and is also used commonly for daily transactions in markets all over the world.
What is USDT?
Tether (USDT) is a popular cryptocurrency otherwise known as a stablecoin that virtually all crypto enthusiasts have used for years to leverage their cryptocurrency trades and also use for executing transactions.
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Tether (USDT) is pegged to the U.S. Dollar, and in theory, it is assumed to be unaffected by the possibility of market volatility that can so dramatically impact the valuation of other cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin.
Tether was initially launched as a digital currency called RealCoin in July 2014 and was later rebranded as Tether in November 2014 to portray the essence of a stable coin.
It eventually began trading in February 2015.
Why is USDT popular?
Tether now supports other blockchain protocols which include Bitcoin’s Omni, Liquid, Ethereum, TRON, EOS, Algorand, Solana, and OMG Network, making it a highly interoperable token; hence the popularity of its service globally.
There is virtually no crypto wallet or exchange in existence that does not use or transact in Tether (USDT).
The global acceptance and popularity make it easily accessible and tradeable in all exchanges either centralized or decentralized.
Tether belongs to a fast-growing set of digital currencies (cryptocurrencies) called stablecoins, with a goal to ensure that the price of their tokens is stable, by tying it to the price of a traditional currency like the U.S. dollar.
However, the Klever Wallet has many potentials for which the USDT can be used on the wallet to achieve several types of transactions which includes but are not limited to the following:
How can you use USDT in your Klever Wallet?
Sequel to the transformation happening in the Klever Wallet, there are many ways users can enjoy USDT on the app.
- Send
The send function of the Klever wallet enables the user to send their USDT to any other USDT Wallet by simply following the steps highlighted below:
- Click on the desired token from your Portfolio in this case USDT.
- Switch to the desired Klever Account to execute the transaction then click on the SEND button.
- Enter the amount you want to send to the recipient, then click on the Next button.
- Click on the Book icon and select an Account or Contact to which you want to send the USDT. Alternatively, you can paste an address from the Clipboard or scan a QR code. Once done, click on the Send button.
- After, you will be redirected to a screen where you can see all the transaction details. When everything is confirmed, click on the Submit Transaction button. Once submitted, a green screen will appear which confirms that the transaction is submitted successfully to the network.
- Receive
In order to receive the USDT token on your Klever wallet, the user would have to perform the following process:
- Click on the desired token from your Portfolio in this case USDT.
- Switch to the desired Account if you have multiple accounts on the wallet.
- Inside the Account page click on the Receive button.
- On the next screen, you can:
- use the sharing application to share to the desired sender or scan the QR code.
- Alternatively, copy the address to Clipboard, then paste the address inside the sending application.
- Buy
The Klever Wallet has made it more convenient for users to use bank cards to buy cryptocurrencies in a seamless way.
Consequently, the strategic partnership between Klever and the world-leading payment processor Simplex.com has enabled Klever users the access to buy Crypto fast and securely inside the Klever Wallet with either a credit or debit card.
However, there are new partners working with the Klever team to expand the frontier of the fiat on-ramp services on the Klever wallet including Moonpay, Mercuryo, Banxa, and Apple Pay.
The process is stated below:
- Click on the settings button (5th from your left)
- Select the buy crypto tab.
- Select the cryptocurrency to be bought (in this case USDT)
- Input the Amount of Crypto you want to Buy or Fiat Value.
- Select Your Receiving Address.
- Input your Card Details & Fill out the Form.
- Upload your Identity Document.
- Wait for your payment request to be approved.
- The token would be credited to your wallet address that is provided.
- Charge
This is another unique feature of the Klever Wallet that enables a user to make payments for goods and services in cryptocurrencies without leaving the wallet. The basic steps include:
- Open your Klever wallet
- Select the cryptocurrency to be used for charge (payment)
- Click on the charge button
- Input the amount to be charged (either in USDT or USD value)
- Added a description if necessary and click next
- Scan the QR code stating the amount to be charged
- The user’s wallet address would be charged accordingly.
- SWAP
The swap is another intuitive function on the Klever Wallet which enables a user to swap or convert any coin or token of their choice to other tokens or coins which are available in the swap engine within the Klever Wallet. The steps include the following
- Step 1. Log in to your wallet with your unique password
- Step 2. Select the swap icon (4th from your left)
- Step 3. Select token or coin to be swapped
- Step 4. Input the amount
- Step 5. Select the coin or token you are swapping into
- Step 6. The value of the amount to be swapped would be displayed
- Step 7. Confirm the swap
The Klever Wallet was indeed designed in a simple way for everyone in the crypto space.
However, the Klever team continues to share educational content to encourage current and potential users to understand the basics of using crypto.
It is a Klever thing to do.
