To convert MATIC to USDT on Hotbit, here are the detailed steps: First, ensure you have MATIC deposited into your Hotbit account.

Log in to your Hotbit account, navigate to the “Exchange” or “Spot Trading” section. Search for the MATIC/USDT trading pair.

Once found, select “Sell MATIC” and choose your desired order type e.g., “Limit Order” for a specific price or “Market Order” for the current market price. Enter the amount of MATIC you wish to sell.

Confirm the transaction details, and then execute the trade.

Your MATIC will be converted to USDT and reflected in your spot wallet.

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Table of Contents

Understanding Cryptocurrency Trading: A Practical Approach

While the allure of quick gains can be strong, it’s essential to approach this space with knowledge, diligence, and a focus on ethical practices.

The conversion of one digital asset to another, such as MATIC to USDT on platforms like Hotbit, is a fundamental operation in this ecosystem. It’s not just about pushing buttons.

It’s about understanding the underlying principles, the potential risks, and the importance of responsible financial stewardship.

Just as you’d plan a meticulous strategy for any endeavor, approaching crypto with a well-researched, cautious mindset is paramount.

What is MATIC Polygon and USDT Tether?

MATIC is the native cryptocurrency of the Polygon network, a popular Layer 2 scaling solution designed to improve the speed and reduce the cost of transactions on the Ethereum blockchain. How to convert from bitcoin to usdt on binance

Think of Polygon as a fast lane built alongside a busy highway, allowing more vehicles transactions to pass through efficiently.

As of late 2023, Polygon’s market capitalization frequently places it among the top cryptocurrencies, often fluctuating between $5 billion and $10 billion, depending on market conditions.

It has gained significant traction due to its ability to support decentralized applications dApps with lower fees and faster confirmation times compared to Ethereum’s mainnet.

For instance, in Q3 2023, Polygon processed over 350 million transactions, a testament to its growing adoption.

USDT, or Tether, on the other hand, is the largest stablecoin by market capitalization, consistently ranking among the top three cryptocurrencies globally with a market cap often exceeding $80 billion. How to convert bitcoin to usdt

The fundamental idea behind stablecoins like USDT is to maintain a stable value, typically pegged to a fiat currency like the US dollar, at a 1:1 ratio.

This stability makes USDT a popular choice for traders who want to minimize volatility while staying within the crypto ecosystem.

It acts as a digital dollar, allowing users to move in and out of volatile cryptocurrencies without converting back to traditional fiat currency, thereby simplifying the trading process and reducing transaction fees associated with traditional banking.

Navigating Hotbit: An Overview of the Exchange

Hotbit is a centralized cryptocurrency exchange that offers a variety of digital asset trading services, including spot trading, ETF trading, and investment products. Established in 2018, it has garnered a global user base, boasting millions of registered users. While it provides access to a wide range of altcoins, it’s crucial to acknowledge that, like any centralized exchange, it operates within a regulatory gray area in some jurisdictions and has faced scrutiny regarding its security measures and operational transparency in the past. For example, in August 2022, Hotbit temporarily suspended all trading services due to a criminal investigation involving a former management employee. Such incidents highlight the inherent risks associated with trusting third-party platforms with your assets. Therefore, while exchanges offer convenience, exercising extreme caution and prioritizing self-custody of your digital assets whenever possible is always the most prudent approach. Rather than solely relying on exchanges for long-term holding, consider using hardware wallets like Ledger or Trezor for secure storage, which offer a far greater degree of control and protection against platform-specific risks.

Preparing for Your Trade: Key Considerations

Before initiating any trade, particularly converting assets on an exchange, meticulous preparation is non-negotiable. This isn’t just about having the funds ready. How to convert ethereum to bitcoin on binance

It’s about understanding the market, the fees involved, and ensuring your account is secure.

Account Security and Verification KYC

Ensuring the security of your Hotbit account is paramount. This involves enabling Two-Factor Authentication 2FA using an authenticator app like Google Authenticator. A robust password, unique to Hotbit and changed regularly, is also critical. Furthermore, most reputable exchanges, including Hotbit, require Know Your Customer KYC verification for higher withdrawal limits and enhanced security. This typically involves submitting identification documents. While it adds a layer of initial effort, KYC helps prevent illicit activities and can aid in account recovery should you lose access. However, understand that providing personal data to centralized entities always carries some privacy implications.

Understanding Trading Pairs and Market Liquidity

When you convert MATIC to USDT, you are interacting with the MATIC/USDT trading pair. This pair represents the exchange rate between the two assets. Liquidity is a vital factor here: it refers to how easily an asset can be bought or sold without significantly affecting its price. A highly liquid pair, like MATIC/USDT, means there are many buyers and sellers, leading to tighter spreads the difference between the highest buy order and lowest sell order and faster execution of your trades. Low liquidity can result in slippage, where your order gets filled at a less favorable price than intended, especially for larger trades. Always check the trading volume of a pair before making a significant trade. higher volume generally indicates better liquidity. For instance, the daily trading volume for MATIC/USDT on major exchanges often exceeds hundreds of millions of dollars, signifying high liquidity.

Depositing MATIC to Your Hotbit Wallet

To begin, you need to ensure your MATIC is on the Hotbit platform.

This involves depositing it from an external wallet or another exchange. How to convert bitcoin to inr

Locate Your MATIC Deposit Address: On Hotbit, navigate to your “Wallet” or “Funds” section. Search for MATIC and click on “Deposit.” The platform will provide you with a unique MATIC deposit address. Crucially, ensure you select the correct network e.g., ERC-20, Polygon network if supported by Hotbit for direct MATIC deposits. Sending MATIC on the wrong network to an incorrect address can result in permanent loss of funds.
Initiate the Transfer: Copy the deposit address carefully. Go to your external wallet e.g., MetaMask or the other exchange where your MATIC is held. Select “Send” or “Withdraw” MATIC, paste the copied address, and specify the amount you wish to deposit.
Confirm and Monitor: Double-check all details before confirming the transaction. The transfer time will vary depending on network congestion. You can typically monitor the transaction status on the respective blockchain explorer using the transaction ID TxID provided by your sending platform. Hotbit will notify you once the deposit is confirmed and credited to your account.

Step-by-Step Guide: Converting MATIC to USDT on Hotbit

Once your MATIC is safely in your Hotbit wallet, the conversion process is straightforward.

However, paying attention to the details of order types and fees is essential.

Accessing the Trading Interface

Log In to Hotbit: Use your credentials and 2FA to securely log in.
Navigate to Spot Trading: On the Hotbit homepage, look for a section typically labeled “Exchange,” “Spot,” or “Markets.” Clicking on this will take you to the main trading interface.
Select the MATIC/USDT Pair: In the trading interface, there will be a search bar or a list of trading pairs. Type “MATIC” and then select the “MATIC/USDT” pair from the results. This will load the chart, order book, and order entry form for this specific pair.

Choosing Your Order Type: Market vs. Limit Orders

The type of order you place significantly impacts the execution price of your trade.

Market Order: This is the quickest way to sell your MATIC. A market order executes immediately at the best available price in the order book. While convenient, it doesn’t guarantee a specific price. If the market is volatile or illiquid, your order might experience slippage, meaning it gets filled at a price less favorable than what you saw just before placing the order. For example, if you place a market sell order for 100 MATIC, and the current best buy order is for 99 MATIC at $0.75, but the next best is for 1 MATIC at $0.74, a portion of your order might fill at $0.74. Use market orders only when speed is critical and minor price variations are acceptable.
Limit Order: This gives you more control. With a limit order, you specify the exact price at which you want to sell your MATIC. Your order will only execute if and when the market price reaches your specified limit price. If the price doesn’t reach your limit, your order will remain open in the order book until it’s filled, canceled, or expires if an expiry time is set. This is generally the recommended option for most trades, as it allows you to secure a desired price and avoid unexpected slippage. For instance, if MATIC is currently trading at $0.75, but you believe it will briefly touch $0.76, you can set a limit sell order at $0.76.

Executing the Sell Order

Enter Amount: In the “Sell MATIC” section of the trading interface, input the amount of MATIC you wish to sell. If using a limit order, also input your desired selling price per MATIC. The system will automatically calculate the equivalent USDT amount you will receive minus fees.
Review Order Details: Before clicking “Sell MATIC,” carefully review all the details: the amount of MATIC, the selling price for limit orders, and the estimated USDT to be received.
Confirm Trade: Click the “Sell MATIC” button. For market orders, the trade will execute instantly. For limit orders, it will be placed in the order book, and you can monitor its status under “Open Orders.” Once filled, the MATIC will be converted to USDT, and the USDT will appear in your spot wallet.

Understanding Trading Fees and Network Costs

Fees are an unavoidable aspect of cryptocurrency trading, and understanding them is crucial for calculating your actual returns.

These costs can significantly impact your profitability, especially for frequent traders. How to convert bitcoin to usd on coinbase

Hotbit Trading Fees

Centralized exchanges like Hotbit typically charge a maker-taker fee model.

Maker Fee: This fee is charged when you place an order that adds liquidity to the order book e.g., a limit order that is not immediately filled. Makers “make” the market.
Taker Fee: This fee is charged when you place an order that removes liquidity from the order book e.g., a market order or a limit order that is immediately filled by an existing order. Takers “take” liquidity from the market.

Hotbit’s fee structure can vary, but generally, it’s competitive, often ranging from 0.1% to 0.2% per trade for both makers and takers. For example, if you sell 100 MATIC worth $75, and the fee is 0.2%, you would pay $0.15 in fees. It’s always best to check Hotbit’s official “Fees” page for the most up-to-date information, as these can change. Some exchanges also offer tiered fee structures, where higher trading volumes lead to lower fees.

Network Transaction Fees Gas Fees

While Hotbit handles the internal transfer of MATIC and USDT within its platform, if you were to deposit or withdraw MATIC to/from an external wallet, you would encounter network transaction fees, often referred to as gas fees on the Ethereum network which Polygon interacts with. These fees are paid to the miners or validators who process and secure the transactions on the blockchain. Gas fees are dynamic and depend on network congestion. For instance, transacting on the Ethereum mainnet during peak times can incur fees ranging from $5 to $50 or more for a single transaction. Polygon, as a Layer 2 solution, significantly reduces these costs, with average transaction fees often less than $0.01 for MATIC transfers on the Polygon network itself. This is why using the correct network for deposits/withdrawals is critical.

What to Do After Converting MATIC to USDT

Successfully converting your MATIC to USDT is just one step.

Now you have options for your newly acquired stablecoins. Prudent management of these assets is key. How to transfer bitcoin to different wallet

Holding USDT on Hotbit

You can choose to hold your USDT on Hotbit. This is convenient if you plan to make further trades on the platform or participate in Hotbit’s various investment products, such as flexible savings or fixed-term deposits that may offer a yield on your stablecoins. However, holding significant amounts of crypto on any centralized exchange, including USDT, carries inherent risks. Exchanges are targets for hackers, and despite their security measures, breaches can occur. Furthermore, an exchange could face regulatory issues, technical problems, or even insolvency. As demonstrated by several high-profile exchange failures in recent years e.g., FTX, your funds are not as secure as they would be in a self-custodied wallet.

Withdrawing USDT to an External Wallet

For enhanced security, it is highly recommended to withdraw larger amounts of USDT to a personal, self-custodied wallet. This gives you full control over your assets.

Choose a Compatible Wallet: Select a wallet that supports USDT on the network you intend to use. USDT exists on multiple blockchains, including Ethereum ERC-20, Tron TRC-20, Solana, Avalanche, and Polygon MATIC. The most common and widely supported for withdrawals from exchanges are typically ERC-20 and TRC-20.
Find Your USDT Deposit Address: Open your external wallet e.g., MetaMask, Trust Wallet, Ledger and locate the USDT asset. Select “Receive” or “Deposit” and carefully choose the correct network. For example, if you want to withdraw USDT ERC-20, ensure your wallet’s address is for ERC-20 USDT. Sending USDT on the wrong network will result in permanent loss.
Initiate Withdrawal on Hotbit: On Hotbit, navigate to your “Wallet” or “Funds” section, find USDT, and click “Withdraw.” Paste your external wallet’s USDT deposit address, select the correct network, and enter the amount you wish to withdraw.
Confirm and Monitor: Hotbit will typically require 2FA and potentially email confirmation for withdrawals. Review all details, confirm the transaction, and monitor its status. Withdrawal times vary based on network congestion.

Always perform a small test withdrawal first if you are sending a large amount or are unfamiliar with the process. This minimal fee can save you from a potentially catastrophic loss.

Using USDT for Further Transactions or Investments

Once you have USDT, the possibilities are vast. You can:

Trade for other cryptocurrencies: Use USDT as a base pair to buy other altcoins on Hotbit or other exchanges.
Participate in DeFi: Bridge your USDT to decentralized finance DeFi protocols on various blockchains e.g., Polygon, Ethereum to earn yield through lending, liquidity provision, or staking though DeFi also carries its own set of technical and financial risks.
Prepare for fiat off-ramp: Hold USDT to easily convert it back to traditional currency via an exchange that supports fiat withdrawals, though this is an area where caution regarding interest-based financial services is paramount. For instance, if you plan to convert USDT to traditional currency, seek platforms that facilitate direct bank transfers without engaging in interest-bearing accounts or credit schemes, which are impermissible.

Potential Risks and How to Mitigate Them

Engaging with cryptocurrency, while offering unique opportunities, is inherently fraught with risks. How to transfer bitcoin to a cold wallet

A responsible approach necessitates a clear-eyed understanding of these dangers and proactive measures to mitigate them.

Volatility of Cryptocurrencies

While USDT is a stablecoin, its underlying asset MATIC, like most cryptocurrencies, is subject to extreme price volatility. A 2023 report by Chainalysis indicated that over $200 billion was lost to cryptocurrency-related fraud and hacks in the past five years, underscoring the precarious nature of this market. Prices can swing by 10%, 20%, or even more in a single day. This means the value of your MATIC could drop significantly between the time you decide to sell and the actual execution of your trade, especially if you’re attempting a complex or large order. Mitigation:

Do not invest more than you can afford to lose. This is the golden rule of any speculative investment.
Use limit orders: This allows you to set a specific price for your sale, preventing sudden price drops from impacting your exit.
Stay informed: Monitor market news, project developments, and overall sentiment.
Diversification: While converting MATIC to USDT is a specific action, generally, diversifying your crypto portfolio if you choose to have one across different assets can help mitigate risk.

Exchange-Specific Risks

Centralized exchanges, by their nature, present several vulnerabilities that users must be aware of.

Hacking: Exchanges are prime targets for cyberattacks. If an exchange is hacked, user funds can be stolen. Notable examples include the Mt. Gox hack in 2014, Bitfinex in 2016, and KuCoin in 2020, resulting in billions of dollars lost. Hotbit itself has faced security incidents.
Technical Glitches: System outages, frozen withdrawals, or trading engine errors can occur, especially during periods of high market volatility, preventing you from accessing or trading your funds.
Liquidity Issues/Insolvency: An exchange might face liquidity problems, making it difficult for users to withdraw their funds, or worse, become insolvent, leading to the loss of user assets. The collapse of FTX in 2022 due to mismanagement and potential fraud serves as a stark warning.

Mitigation:

Self-custody is paramount: Do not store large amounts of cryptocurrency on exchanges for extended periods. After converting, move your USDT to a hardware wallet or a reputable software wallet where you control the private keys.
Research the exchange: Before using any exchange, research its history, security measures, and regulatory compliance.
Enable all security features: Use strong, unique passwords, 2FA, and withdrawal whitelisting.
Stay updated on exchange announcements: Be aware of any changes in terms of service, security incidents, or regulatory updates.

Slippage and Transaction Errors

Slippage occurs when the executed price of your order differs from the expected price. How to transfer bitcoin to kucoin

This is particularly common with market orders, large orders, or in illiquid markets.

Transaction errors can also occur due to user input mistakes e.g., wrong address, wrong network or technical issues on the exchange’s side.

Use limit orders: This is the most effective way to prevent slippage.
Double-check everything: Before confirming any transaction especially withdrawals, meticulously review the amount, address, and network. A single incorrect character can lead to permanent loss.
Start with small amounts: If you’re new to the process or unsure, make a small test transaction first to ensure everything works as expected before committing larger funds.
Understand fees: Factor in all fees trading and network to avoid surprises.

Responsible Cryptocurrency Engagement from an Islamic Perspective

While the conversion of digital assets like MATIC to USDT might seem purely technical, it’s crucial to approach all financial activities with a framework rooted in Islamic principles.

The allure of the digital gold rush can sometimes overshadow the ethical considerations.

Islam encourages responsible financial management, fair dealings, and avoiding speculative practices that lead to excessive risk and harm. How to convert dollar to bitcoin on cash app

Avoiding Riba Interest and Speculative Gambling

A core principle in Islamic finance is the prohibition of Riba interest. This extends to various financial products and services. Many traditional financial instruments, including conventional bank accounts, loans, and even some crypto lending platforms, operate on an interest-based model. When holding USDT, be extremely cautious about any “earning” or “staking” opportunities that promise fixed returns, as these often involve interest Riba. Seek out decentralized finance DeFi protocols or platforms that explicitly state their compliance with Islamic finance principles, focusing on profit-sharing Mudarabah/Musharakah or asset-backed transactions rather than interest. If you are unsure, it is safer to avoid such earning mechanisms entirely.

Furthermore, the highly speculative nature of much of cryptocurrency trading can border on gambling Maisir, which is also prohibited. Engaging in trading purely based on price speculation, without any real underlying value or productive economic activity, can be problematic. This is particularly true for day trading or engaging with highly volatile meme coins.

Better Alternatives:

Focus on productive use: Instead of pure speculation, consider using digital assets for legitimate transactions or supporting projects that offer real utility and contribute to societal good.
Halal investments: If seeking to invest, explore avenues that are permissible in Islam, such as ethical businesses, real estate, or sharia-compliant mutual funds. For digital assets, research projects that have tangible use cases and are not purely speculative tokens.
Avoid excessive risk: Do not engage in high-risk, high-reward trading strategies that resemble gambling. Prioritize capital preservation over chasing quick profits.

Zakat on Cryptocurrency

If you hold cryptocurrency, including MATIC or USDT, it falls under the purview of zakatable wealth if it meets the conditions for Zakat. Generally, if your holdings including stablecoins reach the nisab minimum threshold equivalent to 87.48 grams of gold or 612.36 grams of silver and have been held for a full lunar year Hawl, then Zakat is due on them at a rate of 2.5%. This applies to stablecoins like USDT, as they represent a stable value akin to fiat currency.

Guidance: How to convert bitcoin to indian rupees

Track your holdings: Keep meticulous records of your cryptocurrency assets, their acquisition dates, and their value.
Calculate nisab: Determine if the total value of your zakatable assets meets the nisab threshold.
Pay Zakat: Fulfill your obligation by paying Zakat through reputable Islamic charities or directly to those eligible. Paying Zakat purifies wealth and is a fundamental pillar of Islam.

In conclusion, while the mechanics of converting MATIC to USDT on Hotbit are relatively simple, the broader context of engaging with cryptocurrency requires a comprehensive understanding of both technical procedures and ethical responsibilities.

Prioritize security, minimize risk, and always align your financial activities with sound principles.

Frequently Asked Questions

What is the primary purpose of converting MATIC to USDT?

The primary purpose of converting MATIC to USDT is typically to lock in profits, reduce exposure to MATIC’s price volatility, or to prepare funds for purchasing other cryptocurrencies.

USDT, being a stablecoin pegged to the US dollar, provides a stable value during volatile market conditions.

Is Hotbit a safe exchange to use for converting MATIC to USDT?

Hotbit has faced security concerns and regulatory issues in the past, including temporary suspensions of services. How to convert MATIC to usdt on bybit app

While they implement security measures, like any centralized exchange, storing large amounts of funds on it for extended periods carries inherent risks.

It is generally safer to convert and then withdraw funds to a self-custodied wallet.

Are there any fees for converting MATIC to USDT on Hotbit?

Yes, Hotbit charges trading fees for conversions, typically following a maker-taker fee model.

These fees usually range from 0.1% to 0.2% per trade.

It’s advisable to check Hotbit’s official fee schedule for the most current rates. How to convert MATIC to cash app

How long does it take to convert MATIC to USDT on Hotbit?

The conversion process for MATIC to USDT on Hotbit is typically instantaneous for market orders.

For limit orders, the conversion will occur as soon as the market price reaches your specified limit price.

Can I convert MATIC directly to fiat currency on Hotbit?

Generally, Hotbit primarily facilitates crypto-to-crypto trading.

While some exchanges offer fiat off-ramps, Hotbit’s direct fiat withdrawal options might be limited or unavailable depending on your region.

You might need to convert USDT to fiat on another exchange that supports such services. How to convert MATIC to usdt on trust wallet

What is a “limit order” when converting MATIC to USDT?

A limit order allows you to specify the exact price at which you want to sell your MATIC for USDT.

Your order will only execute if and when the market price reaches or surpasses your set limit price. This gives you control over the execution price.

What is a “market order” when converting MATIC to USDT?

A market order is an instruction to buy or sell MATIC for USDT immediately at the best available current market price.

While it ensures quick execution, it does not guarantee a specific price and can be subject to slippage, especially in volatile markets.

What is slippage, and how does it affect MATIC to USDT conversion?

Slippage occurs when your order is executed at a price different from the expected price, often due to market volatility or large order sizes. How to convert doge to MATIC on binance

If you place a market sell order for MATIC, and there isn’t enough liquidity at the desired price, your order might fill at progressively worse prices, leading to slippage.

Do I need to complete KYC verification on Hotbit to convert MATIC to USDT?

While you might be able to perform some basic trades without full KYC, most exchanges, including Hotbit, require KYC verification for higher withdrawal limits and enhanced security.

It’s often a prerequisite for a fully functional account.

What is the minimum amount of MATIC I can convert to USDT on Hotbit?

Hotbit typically has a minimum trade size for each trading pair.

This minimum amount can vary but is usually a small value e.g., equivalent to a few dollars. You can find this information in the trading interface when attempting to place an order. How to convert MATIC to cash

How can I check the status of my MATIC to USDT conversion?

After placing an order on Hotbit, you can check its status under the “Open Orders” section if it’s a limit order that hasn’t been filled yet.

Once executed, it will appear in your “Order History” or “Trade History” and your USDT balance will be updated in your spot wallet.

What should I do if my MATIC to USDT conversion fails?

If your conversion fails, check your internet connection, ensure you have sufficient MATIC balance, and verify if the order parameters e.g., price for limit order are valid. Review any error messages provided by Hotbit.

If the problem persists, contact Hotbit’s customer support.

Is it better to hold MATIC or USDT after conversion?

This depends on your strategy.

Holding MATIC exposes you to its price fluctuations and potential growth, while holding USDT offers stability, protecting your capital from market downturns.

If you anticipate MATIC’s price to drop, converting to USDT is a way to preserve value.

Can I accidentally send MATIC to a USDT address or vice-versa?

Yes, this is a common and potentially catastrophic error. Always ensure you are sending MATIC to a MATIC deposit address and USDT to a USDT deposit address. Furthermore, verify the network e.g., ERC-20, TRC-20, Polygon matches for both the sending and receiving addresses to avoid permanent loss of funds.

What are the tax implications of converting MATIC to USDT?

In many jurisdictions, converting one cryptocurrency to another like MATIC to USDT is considered a taxable event, similar to selling an asset.

You may incur capital gains or losses depending on the purchase price of your MATIC and its sale price.

Consult a tax professional in your country for specific guidance.

Can I earn interest on my USDT after converting it on Hotbit?

Hotbit may offer various investment products like flexible savings or fixed-term deposits for USDT. However, be extremely cautious. Many such offerings involve interest Riba, which is forbidden in Islam. It is advisable to avoid such interest-bearing schemes and instead prioritize self-custody or explore sharia-compliant alternatives if available.

Is it permissible to trade cryptocurrencies like MATIC from an Islamic perspective?

The permissibility of cryptocurrency trading in Islam is a complex and debated topic among scholars.

Some scholars permit it if it involves legitimate assets and avoids Riba, Maisir gambling, and Gharar excessive uncertainty. However, highly speculative trading, especially day trading, is generally discouraged due to its resemblance to gambling and lack of productive economic activity.

How can I withdraw my USDT from Hotbit after converting MATIC?

To withdraw USDT, navigate to your wallet section on Hotbit, select USDT, and click “Withdraw.” You will need to provide an external USDT wallet address ensuring the correct network, e.g., ERC-20 or TRC-20, the amount, and complete any required security verification like 2FA.

What is the difference between USDT on ERC-20 and TRC-20 networks?

USDT can exist on multiple blockchain networks. USDT ERC-20 is Tether issued on the Ethereum blockchain, while USDT TRC-20 is Tether issued on the Tron blockchain. They use different network standards and have different transaction fees and speeds. It is crucial to use the correct network when depositing or withdrawing to avoid loss of funds.

Should I hold my converted USDT on Hotbit or in a personal wallet?

For larger amounts, it is strongly recommended to withdraw your converted USDT to a personal, self-custodied wallet like a hardware wallet or a reputable software wallet where you control the private keys. Holding funds on exchanges carries risks of hacking, regulatory issues, and insolvency. Self-custody provides the highest level of security and control.

How to convert MATIC to usdt on hotbit