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How to Buy Stablecoins in Four Easy Steps

Fransiskus
Updated

How To Buy Stablecoin In Four Easy Steps.png
Want to learn how to buy stablecoins easily? Bittime provides a safe and fast solution for you to buy Stablecoins instantly, anywhere and anytime

How to Buy Stablecoins in four easy steps

Create a Bittime Account 

Register on Bittime with your email address and set a strong password to secure your account.

Verify your account

Verify your identity by entering personal information then uploading your KTP photo & selfie

Refill IDR Balance

Top up or deposit IDR via VA bank or e-wallet after verifying your Bittime account.

 

Buy Stablecoins

Open the trade menu and buy Stable coins like USDT, USDC on Bittime . 

How to Top up IDR to Buy Stablecoins on Bittime

1. Top Up via Bank

Top up IDR at Bittime is very easy, follow these steps:

  • Make sure you have verified your Bittime account
  • Open the Bittime Application, open IDR deposit on the Home page or open the wallet menu and select IDR deposit
  • Select a Virtual Bank account, copy one of the bank VAs you want to transfer to.
  • Make sure you transfer using a real-time/online transfer method so that your deposit can be credited immediately.
  • Minimum deposit starts from 10,000 rupiah.
  • The funds you transfer will be credited to your IDR wallet."

You can check the video tutorial link here

2. Top Up IDR via E-wallet

 Top up IDR at Bittime is very easy, follow these steps:

  • Make sure you have verified your Bittime Anbda account
  • Open the Bittime App, go to IDR deposit on the home page or open your wallet and select IDR deposit
  • Choose an Ewallet such as OVO, DOKU and follow the instructions to top up IDR
  • Make sure you transfer using a real-time/online transfer method so that your deposit can be credited immediately.
  • Minimum deposit starts from 10,000 rupiah.
  • The funds you transfer will be credited to your IDR wallet."

You can check the video tutorial link here

How to Buy Stablecoins on Bittime? 

After deposit you can buy stablecoins such as USDT/IDR very easily and intuitively on Bittime. Let's learn how to buy Stablecoins using IDR on Bittime Spot Market:

With a total listing of over 200 crypto assets, the Bittime spot market is the most popular place to buy and sell Stablecoins. Here's how to buy USDT Stablecoin on Bittime:

  1. Open the Market Menu and select USDT/IDR
  2. Tap the 'Buy' button.
  3. Choose 1 of the 3 purchasing methods that you will use (limit, market, stop order)
  4. Enter the IDR amount to buy the crypto asset with a minimum purchase of IDR 10 thousand 
  5. Click the 'Buy' button, and enter the Transaction PIN.
  6. Your order will appear in the open orders section if you select limit orders,
  7. Then if the purchase is successful, you can check it in the order history.

Tip: Bittime offers various types of orders to buy Stablecoins in the spot market, such as market orders for instant purchase of Stablecoins, limit orders for instant purchase of crypto at a certain price and trigger orders for instant purchase of crypto at a certain price. For further information about order types or order methods  at Bittime, check this link.

  1.  As soon as your order is successfully executed, you will be able to see the available Stablecoins in your Trading Account.

How to Store Stablecoins

The best way to store Stablecoins varies based on your needs and preferences. Review the pros and cons to find the best method of storing Stablecoins.

Store Stablecoins in your Bittime Account

Storing your crypto Assets in a Bittime account provides instant access to features, such as spot trading, staking, and more. Bittime serves as a custodian of your crypto assets and helps you avoid the hassle of securing your own private keys. Make sure to set up a strong password and increase your security settings to prevent bad actors from accessing your funds.

Store your Stablecoins in a Non-exchange Wallet

You can withdraw your Stablecoins to a non-exchange wallet. Storing Stablecoins Like USDT, USDC in a non-exchange or self-storage wallet gives you complete control over your wallet's private keys . You can use any type of wallet, including hardware wallets, Web3 wallets, or paper wallets. Note that this option may be less convenient if you want to trade Stablecoins frequently or use your assets. Make sure to store your private key in a safe location as losing it could result in the permanent loss of your Stablecoins.

What Can You Do with Stablecoins?

Hold

Store/ hold your Stablecoins in your Bittime account.

Trading

Trade your Stablecoin on the spot market.

Staking

Earn passive income by staking on several platforms that provide Stablecoin staking

Why Traders Prefer Bittime As A Stablecoin Trading Platform?

Easy Crypto Asset Purchase

Users can safely buy & sell hundreds of crypto assets directly using Indonesian Rupiah (IDR). These include the stablecoins USDT, USDC, Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), TRON (TRX), Cardano (ADA), Polkadot (DOT), Polygon (MATIC), and Binance ( BNB) and many more.

User-Friendly Application: 

Bittime is very friendly for beginners in carrying out crypto asset transactions with an easy-to-use interface, many IDR deposit and withdrawal options as well as various reward activities such as weekly cashback promotions, trading competitions and airdrops.

Bittime offers a variety of benefits, including security, reliability, ease of use, and profitable features that simplify the buying and selling of crypto assets.

Highest Rating

Bittime received the highest rating from a large number of users, with an accumulated rating of 4.8 on Google Play, making Bittime the best crypto asset exchange in Indonesia. Bittime is committed to being the safest, easiest to use crypto asset trading platform, and continues to expand to add the best features.

Security and Reliability: 

Bittime has been registered with BAPPEBTI and Kominfo, continuing to carry out transparent asset & transaction reporting to the Ministry of Trade every day. Bittime also uses the latest MPC encryption technology to provide double protection for user assets. In addition, Bittime has obtained several international ISO certifications (ISO 27001:2013, 27017:2015), guaranteeing security and reliability.

Provides competitive Staking rewards 

Bittime offers high APY rewards through the Staking Feature, which allows users to easily earn huge passive income through staking various crypto assets based on the POS blockchain consensus mechanism. For example: USDT & ETH APY 10% each.

FAQ Price Stablecoin

1. What is a Stablecoin?

Stablecoins are a type of cryptocurrency designed to have a stable value pegged to another asset such as a fiat currency (USD, EUR), a commodity (gold), or even another stablecoin. This is different from traditional cryptocurrencies such as Bitcoin whose value is highly volatile.

2. How Stablecoin Keeps Its Value Stable?

There are several types of mechanisms used to keep the value of stablecoins stable:

  • Fiat-backed:  backed by fiat asset reserves in banks, much like traditional fiat money. Example: Tether (USDT), USD Coin (USDC).
  • Crypto-backed:  pegged to the value of another crypto asset, usually with a reserve of that asset held as collateral. Example: DAI (MakerDAO).
  • Algo-backed:  value is maintained through an algorithm that automatically buys or sells stablecoins depending on market fluctuations. Example: Ampleforth (AMPL).

3. What are the Benefits of Using Stablecoins?

  • Stable value:  Suitable for daily transactions because the value does not fluctuate as much as other cryptocurrencies.
  • Fast and cheap transfers:  Transactions between crypto wallets using stablecoins are usually faster and cheaper than traditional fiat currency transactions.
  • Earning yield:  Some stablecoins can be loaned or held to earn interest or other rewards.
  • Access to DeFi:  Stablecoins are used in a variety of decentralized finance (DeFi) applications.

4. What are the Disadvantages of Using Stablecoins?

  • Regulatory risks:  Regulations regarding stablecoins are still unclear, so there is a potential risk of blocking or banning their use in the future.
  • Issuer-related risks:  Depending on the mechanism used, stablecoins are subject to issuer risks, for example the failure of depositary banks for fiat-backed stablecoins.
  • Lack of transparency:  Some stablecoins, especially those using algorithmic mechanisms, may lack transparency regarding how they maintain stable value.

5. What are Examples of Popular Stablecoins?

  • Tether (USDT)
  • USD Coin (USDC)
  • Binance USD (BUSD)
  • DAI (DAI)
  • TrueUSD (TUSD)

6. Is Investment in Stablecoins Profitable?

Stablecoins are generally not considered a long-term investment because their value is relatively stable. However, certain stablecoins offer earning potential through staking or lending. Investing in any cryptocurrency, including stablecoins, carries its own risks. Always do financial research and considerations before investing.

7. Where Can I Buy Stablecoins?

Many cryptocurrency exchanges offer buying and selling stablecoins, such as Bittime which sells USDT/IDR. USDC/IDR

8. What is the Future of Stablecoins?

Stablecoins are expected to continue to grow and play an important role in the cryptocurrency ecosystem. Wider adoption and clear regulation may influence the future development and adoption of stablecoins.

Learn More With Bittime:

  • Collection of educational articles about blockchain, web3 and crypto HERE
  • Find out what to ask about Bittime HERE

Take the first step on your crypto journey with Bittime and download the Bittime application here:

Find Bittime here:

DISCLAIMER : This article is informational in nature and is not advice, recommendation, offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly over time. Bittime is not responsible for changes in exchange rates or crypto asset prices.

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