BINANCE ADDS STEEM/USDT TRADING PAIR (TUTORIAL ON HOW TO CONVERT YOUR STEEM TO USDT AND USDT TO STEEM)

For most of us who signed up on steemit, we created a Binance account for our steem deposits and withdrawals. This was either because the one who signed us up was familiar with the exchange or because Binance is a popular exchange.

Me, I never really heard of the Huobi-exchange, at least not up until I started acquiring knowledge from the crypto Academy. I learned about a lot of exchanges from the crypto academy.

When I learned about the Huobi-exchange I then got to know that they offered the Steem/USDT pair. A pair that the Binance exchange didn't offer. The only pair that was offered by Binance was the Steem/BTC pair and the Steem/ETH pair.

When a user needed to convert his assets to USDT he needed to convert them into either ETH or BTC. This became a concern because sometimes we intend to convert our steem assets into a stable coin and then wait for a coin or the steem asset to fall and then we can reinvest into it.

Because Binance didn't have this pair I realized that for steem deposits I started to move my steem into the Huobi exchange. Since it was easier and more convenient. Another reason why I started doing that was because of the crypto academy trading contest. You realised that I needed to send the steem to the exchange and convert it to USDT and then use it to buy another asset.

We all saw the pump of steem price from the 0.34 dollar value to the 0.61 dollar value. This follows after Binance announced that they were listing 8 new cryptocurrency pairs on their exchange.

Fortunately, the Steem/USDT pair happened to be among the 8 new pairs that Binance announced that they were gonna list.

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Earlier today they opened the trading pair and as I wrote this post trading for the Steem/USDT pair is active on the Binance platform.

This brings good news to steem it as the world's most popular exchange continues to add more trading pairs of the steem currency to their exchange.

For users who are not familiar with the steem/USDT trading pair here is a tutorial on how to change your steem to USDT and vice-versa.

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Step one

Log into your Binance account

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Step 2

Enter the fiat and spot wallet and Search for the Steem asset and click on the trade side

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Step 3

For users who want to convert their steem to usdt enter the the selll steem side which is in red

Enter the amount of steem you will want to convert to USDT and click on the sell steem asset.

Step 4

For users who want to buy steem with the USDT asset you enter the buy steem area marked in red and enter the amount of steem you want

Enter the amount of USDT you want to sell to steem and click buy steem.

This is the little I have to say about the Steem/USDT pair listing on the binance exchange and hope to see you next time.

Thanks for reading.