AUGUST 30, 2024

USDT: Your Answer To Buying Dollars With Naira 

If you’re a Nigerian, then you’ll know that one of the biggest issues the country is facing right now is inflation. The value of the Naira is consistently dropping, and the prices of goods are on a steady rise. 

Generally, one of the best ways to work around this problem is to find a way to get your hands on Dollars. And while most people would like to go to banks, the hassle involved in this process can be discouraging. 

In this article, we’ll explain how you can protect your money from inflation using USDT - the world’s most popular stablecoin. 

Inflation: Every Economy’s Problem 

Before we go into USDT, it’s important to understand the topic of inflation and what it is. 

Basically, inflation is the drop in the purchasing power of a currency. It is marked by a rise in the prices of goods in a country over time, and it can be quite difficult to deal with. 

For a practical example, look at the Naira. In June 2023, the Naira traded at about ₦950 to the Dollar. In June 2024, it now trades at ₦1,504. That’s a 58% increase in just a year. Essentially, this means that a product that could be purchased for about ₦5,800 a year ago now costs ₦10,000 today. 

USDT: The Solution You Need 

For citizens in countries with high inflation, the best way to fight against it is to earn or save money in Dollars. This way, you protect your money when the exchange rate goes up and can ensure that your purchasing power remains the same. 

But, the issue is that accessing Dollars can be a hassle. Going through the banks takes a great deal of time, and if you don’t live close to Bureau de Change agents, you won’t be able to find them. 

This is where USDT comes in. 

USDT is what is known as a stablecoin. It is a cryptocurrency like Bitcoin (BTC) and Ether (ETH), but the difference is that its value never changes. At every point, the value of 1 USDT is always equal to $1. 

The beauty of USDT is that it combines the benefits of cryptocurrencies with those of traditional money. You can buy, sell, and send it in seconds, and at the same time, you never have to worry about the volatility of regular cryptocurrencies like BTC. So, if you’re looking to save money and protect your wealth, USDT is the perfect choice. Plus, instead of having to go to the bank or look for a Bureau de Change agent, you can buy USDT conveniently from the comfort of your couch. 

How To Buy USDT In Nigeria 

At this point, it’s clear that USDT is the easiest way for anyone looking to protect themselves from inflation. But, if you’re looking to get your hands on it, Stock Hut is the perfect place. 

Stock Hut is a new-generation trading platform that makes it easy for anyone to get access to cryptocurrencies, trade gift cards, and even pay bills. The platform offers any crypto enthusiast an easy way to buy USDT in Nigeria and store it, with the best rates and optimal speed. 

If you’re looking to buy USDT on Stock Hut, here’s how to go about it:

• Download the Stock Hut app on your  device - it’s available on iOS and Android 

• Enter your details and confirm your account

• Log into your account, then create a Virtual Account by validating your Bank Verification Number (BVN)

• From there, fund your virtual account by following the simple steps outlined. 

• Once your account is funded, you can head to the “Assets” section and select USDT

• Tp “Buy USDT” and you’ll be able to enter how much you’d like to purchase

• Follow the steps to complete your purchase, and you’re good to go! 

USDT is currently the perfect way for anyone looking to buy Dollars in Nigeria to do so conveniently. And at Stock Hut, you can access USDT right from the comfort of your home. Download the app today and get started!