Against the backdrop of the rising economic crisis and inflation, many tennis players have decided to put money into crypto. Why do they do that, for crypto assets are even more volatile than traditional ones? The answer is the coming bull trend and the possibility of storing money in stablecoins.
In 2022, the crypto market lived through a bear trend when all the rates dropped, but 2023 may be a good year for this field. That is why people are now searching for promising crypto assets to buy.
The crypto market includes not only volatile assets but also stable ones – stablecoins. The most popular is Tether USDT. Its rate is pegged to the dollar, which means there is a reserve in dollars supporting this crypto asset. So it is possible to store money holding them in stablecoins.
There are a few ways to store crypto:
- cold wallets
- hot wallets
Cold wallets are offline storage such as ledger. You put your coins on it and do not use it every day.
A hot wallet is a crypto exchange storage. It allows you to trade and convert coins whenever you need. The question is the level of safety of every exchange that offers hot storage.
WhiteBIT Wallet
WhiteBIT is a custodial crypto exchange that stores users’ funds on its servers. it is important to note that 96% of funds stored are placed in a cold exchange’s wallet, and only 6% are in circulation. The platform implements different mechanisms to protect users’ accounts from hacker attacks and third parties.
The WhiteBIT platform offers:
- Convenient calculator cryptocurrency where users can pick coins, see the current rate, and convert crypto.
- Wide range of trading tools.
- Over 450 crypto pairs;
- Possibility to convert fiat to crypto and back.
- Possibility to deposit fiat money and withdraw it.
- Customer support.
- Quick registration and verification.
How Does Cryptocurrency Calculator Work?
Even a beginner trader can use this tool. The calculator includes two blocks where you enter the currency you want to buy and sell, the sum and the “Exchange” button. It takes a couple of minutes to convert one crypto to another. The crypto coin calculator displays the current crypto price and the fee for a transaction. To try it, go to the WhiteBIT platform and see how it works.
