How to Convert BCD to USDT
Gone are the days when your only option to safeguard your Bitcoin Diamond (BCD) investment against price fluctuations was cashing out. Today, you can leverage stablecoins such as Tether (USDT) to achieve the same goal without incurring cash-out fees. And no, you do not have to undergo the inconvenient process that comes with peer-to-peer platforms. Just make direct conversions on crypto exchanges for quick, on-demand trades of BCD to USDT and vice versa.
On the flip side, such exchanges are increasing in number. Hence the need to ensure your coins are in safe hands. That means going beyond evaluating an exchange’s circulation supply, maximum supply, 12-hour trading volumes, and exchange rates. To incorporate checking their reputation and security measures. You want an exchange platform that can protect your funds, as well as personal and financial information. All while being convenient to use and transparent about your trading information. Rubix offers a robust identity verification system, strong encryption, and a multi-security system to safeguard your exchange between BCD and USDT.
About BCD & USDT
What is Bitcoin Diamond?
Bitcoin Diamond is a Bitcoin fork that strives to improve Bitcoin’s speed, cost, and scalability. It achieves that by leveraging the optimized X13 algorithm. That is a mining code that is ASIC-resistant and permits users to use basic GPUs to provide verifications, create new blocks, and secure the network.
As a result, BCD increases the size of each block by 8 megabytes. It also increases the maximum supply, as its blockchain can handle nearly 100 transactions per second. Like Bitcoin (BTC), BCD leverages block verification, transactions mining, and the Proof-of-Work consensus mechanism.
Overall, Bitcoin Diamond was not created to outdo Bitcoin but as a dividend avenue for BTC holders and to boost cryptocurrency adoption and use by ensuring faster, cheaper, and more reliable transactions.
What is Tether?
Tether is a blockchain-based cryptocurrency whose circulation supply is backed by an equivalent reserve of US dollars. The coin was specifically designed to bridge cryptocurrencies and fiat currencies while offering transparency, stability, and minimal transaction charges.
Tether (USDT) is pegged against the USD and maintains a 1:1 ratio with the dollar, value-wise. That is not to say that USDT has not risen above or dropped below the firm price of $1 — because it has. Whenever that happens, the stablecoin always regains and even retains its value. Following this, USDT can be used as both a mode of value storage and medium of exchange.
Moving your BCD to USDT lowers your risk of exposure to volatile crypto prices and provides a cheaper and quicker way of exchanging your BCD than cashing out BCD for USD.
Convert BCD to USDT using Rubix
You can now acquire USDT for your BCD value with ease, using the built-in trading tools in Rubix. With them, you get to diversify your investment portfolio while monitoring market trends to make informed, profitable trading.
The exchange process is simple. You only need to sign in to your Rubix account. From the Markets tab find BCD to USDT trading pair, which will direct you to the exchange window. Study the BCD chart to the right to check whether the trading rates and spreads are favorable. The best part? The built-in trading tools also support the exchange of other major cryptocurrencies and fiat currencies — all in a reliable, fast, and secure way.