5 Ways To Convert USDT To UST

Last updated on January 11th, 2022

TerraUSD (UST) is the stablecoin of the Terra network. If you are looking to buy UST, there are fewer exchanges that support this stablecoin, compared to other stablecoins like USDT.

However, here are some platforms that support both USDT and UST, and you can actually convert between these 2 stablecoins!

How to convert USDT to UST

Here are 5 ways that you can convert USDT to UST

• KuCoin
• Huobi
• Gate.io
• Poloniex
• Bittrex

This is a summary of their fees,

Platform	Trading Fee	UST Withdrawal Fee
KuCoin	Up to 0.1%	4 UST
Huobi	Up to 0.2%	0 UST
Gate.io	Up to 0.2%	5 UST
Poloniex	Up to 0.155%	32 UST
Bittrex	Up to 0.35%	Currently disabled

and here is each method explained in-depth:

KuCoin

Here’s what you need to do to buy UST from USDT on KuCoin:

1. Send USDT to the KuCoin Main Account
2. Transfer USDT to the Trading Account
3. Find the USDT/UST trading pair
4. Select the price and quantity to buy UST

#1 Send USDT to the KuCoin Main Account

You’ll need to deposit USDT into KuCoin by going to ‘Deposit‘.

You can use the dropdown menu to select USDT.

From there, you will be given a deposit address to send your crypto to.

If you’re intending to send USDT via the TRC20 network, don’t forget to use the TRC20 deposit address instead of the ERC20 one!

#2 Transfer your crypto to the Trading Account

When you deposit your USDT into your KuCoin account, it will be transferred to your Main Account.

If you wish to trade your USDT to UST, you will need to transfer it to your Trading Account.

#3 Find the USDT/UST trading pair

After you’ve transferred your crypto to your Trading Account, you can go to KuCoin’s Spot Exchange.

This will bring you to KuCoin’s trading platform.

If you want to buy UST from USDT, you’ll need to search for ‘USDT‘ and select UST.

If you search for UST by itself, the USDT/UST trading pair doesn’t show up on the search result!

#4 Select the price and quantity to buy UST

After selecting the USDT/UST trading pair, you can proceed to make the order.

KuCoin allows you to make 4 different orders:

1. Limit
2. Market
3. Stop Limit
4. Stop Market

However, you’ll need to go to the ‘Sell USDT‘ tab. This is because you’re selling USDT to buy UST.

Although it’s supposed to be a 1:1 switch between USDT and UST, the exchange rate on the market is less than 1.

As such, you may lose some of your UST to this difference in the rate.

Verdict

KuCoin charges up to 0.1% if you trade on their platform.

If you intend to withdraw UST via the ERC20 network, there may be times where this function will be unavailable.

However, if you are intending to transfer your UST to Terra Station, you should be using the Terra network instead.

The withdrawal fee is 4 UST, which is slightly lower compared to Gate.io.

Huobi

Here’s what you’ll need to do to trade USDT to UST on Huobi:

1. Deposit USDT into Huobi
2. Select the UST/USDT trading pair
3. Select the type of order you wish to make
4. Select the quantity of UST you wish to buy

#1 Deposit a cryptocurrency into Huobi

First, you’ll need to go to ‘Balances → Exchange Account‘.

After this, you can search for USDT on Huobi, and select Deposit.

If you want to reduce the amount of withdrawal fees that you incur, you can send USDT via the TRC20 network.

The amount of fees that you pay is much less compared to the ERC20 network!

#2 Select the UST/USDT trading pair

After depositing USDT to Huobi, you can start trading it. If you just want to trade your crypto, you can go to ‘Spot Trading → Exchange‘.

You’ll be brought to Huobi’s exchange platform.

You’ll need to find the UST/USDT trading pair, which can be done at the left-hand side of the platform.

#3 Select the type of order you wish to make

After you’ve selected your trading pair, you would need to select the order type that you wish to make:

1. Limit
2. Market
3. Stop-Limit
4. Trigger Order

Limit orders allow you to determine the price you wish to buy or sell your crypto. Meanwhile, market orders will buy your crypto at the prevailing market rate.

#4 Select the quantity of UST you wish to buy

After you’ve selected your order, you’ll need to select the amount of UST you wish to buy.

Once the trade has been executed, UST will be credited to your account.

Verdict

Here are the fees that you’ll incur when trading with Huobi:

Type of Fee	Fee Amount
Trading Fees	From 0.20%
UST Withdrawal Fee	0 UST

The UST withdrawal fees for Huobi is the lowest, at 0 UST! This will help you to save costs, especially if you intend to send your UST to Terra Station.

Gate.io

Here’s how you can buy UST on this Gate.io:

1. Deposit USDT into Gate.io (preferably via TRC20)
2. Select the UST/USDT trading pair
3. Select the type of order you wish to make
4. Select the quantity of UST you wish to buy

#1 Deposit USDT into Gate.io (preferably via TRC20)

Gate.io does not allow you to use SGD to buy cryptocurrencies on their platform. As such, you will need to deposit USDT from another exchange to Gate.io.

This is because Gate.io only offers a USDT trading pair with UST.

To do so, you will need to go to your ‘Wallet‘ tab,

and select ‘Deposit‘.

You will need to select USDT as the cryptocurrency you wish to deposit, which will bring you to this page.

If you want to reduce the amount of withdrawal fees that you incur, you can send your USDT via the TRC20 network . The amount of fees that you pay is much less compared to the ERC20 network!

Here are some things you’ll need to take note of:

1. You are sending via the correct network (there is ERC20, TRC20 etc.)
2. The deposit address is accurately copied letter by letter

If you make any mistake during this process, your crypto will be lost forever!

#2 Select the UST/USDT trading pair

Once you have deposited your USDT into Gate.io, you will need to select the UST/USDT trading pair. This can be done by going to the ‘Exchange‘ tab,

and then searching for the UST trading pairs.

#3 Select the type of order you wish to make

After you’ve selected your trading pair, you would need to select the order type that you wish to make:

1. Limit
2. Time Condition
3. Conditional Order

Limit orders allow you to determine the price you wish to buy or sell your crypto. It is interesting to note that Gate.io does not offer any market orders.

#4 Select the quantity of UST you wish to buy

After you’ve selected your order, you’ll need to select the amount of UST you wish to buy.

From the rate in the screenshot above, you can see that the exchange rate between USDT and UST is not 1:1. As such, you may receive less UST than the USDT you’ve traded!

Verdict

Gate.io charges you up to 0.2% in fees for buying UST.

If you intend to withdraw your UST, the fees can be rather high, especially if you’re using the ERC20 network:

Network	Withdrawal Fee
ERC20	66 UST
LUNA	5 UST

If you send UST via the LUNA network, the fees will only be 5 UST!

As such, you may want to double-check that you’re sending your UST via the LUNA network to your Terra Station wallet.

Poloniex

Poloniex is another exchange that has listed UST on its platform. Here are the steps you’ll need to buy UST:

1. Deposit USDT into Poloniex (preferably via TRC20)
2. Select the UST/USDT trading pair
3. Select the type of order you wish to make
4. Select the quantity of UST you wish to buy

#1 Deposit USDT into Poloniex (preferably via TRC20)

The first step would be to deposit USDT into your Poloniex account.

To do so, you will need to go to ‘Wallet‘,

and then search for USDT.

You can choose to deposit USDT either via the ERC20 or TRC20 networks.

If you are able to deposit USDT via the TRC20 network, it will help you to save on withdrawal fees!

#2 Select the UST/USDT trading pair

Once you have deposited USDT, you will need to go to ‘Trade → Spot‘,

and search for UST/USDT as your trading pair.

#3 Select the type of order you wish to make

After you’ve selected your trading pair, you would need to select the order type that you wish to make:

1. Limit
2. Stop-Limit

Limit orders allow you to determine the price you wish to buy or sell your crypto. Poloniex does not support market orders.

#4 Select the quantity of UST you wish to buy

After you’ve selected your order, you’ll need to select the amount of UST you wish to buy.

Once the trade has been executed, UST will be credited into your account.

Verdict

Poloniex charges up to 0.155% to trade on their platform. The withdrawal fees for UST are quite high on Poloniex, so it’s not really recommended to use this platform.

Bittrex

Here’s what you need to do to buy UST from USDT on Bittrex:

1. Deposit USDT to Bittrex
2. Go to the ‘Markets’ tab and search for UST
3. Enter the details of your trade
4. Execute the trade

#1 Deposit USDT to Bittrex

You will need to go to ‘Holdings‘,

and then search for USDT.

You will be given a wallet address that you can send your crypto to.

Unlike other platforms, you are only able to deposit the ERC20 version of USDT.

Do remember to double check the wallet address before sending your crypto!

#2 Go to the ‘Markets’ tab and search for UST

Once you have deposited USDT into Bittrex, you can start buying UST.

You’ll need to go to the ‘Markets‘ tab,

and then search for UST.

At this page, you can select the USDT/UST trading pair.

#3 Enter the details of your trade

Once you have selected the trading pair, you will be directed to Bittrex’s trading platform.

It can seem quite overwhelming, but you’ll need to enter the details of your trade on the right-hand side.

There are 6 different order types that you can make:

1. Limit
2. Market
3. Stop Limit
4. Trailing
5. OCO
6. Ladder Limit

#4 Execute the trade

After you’ve placed the order, it will go into Bittrex’s order book.

Once your trade has been completed, UST will be credited into your account.

Verdict

Here are the fees that you’ll incur when trading on Bittrex:

Fee	Amount
Trading Fees	Up to 0.35%
UST Withdrawal Fee	Currently suspended

The trading fee for Bittrex is much higher compared to the other platforms. As such, it may be more costly to trade on Bittrex!

Conclusion

There are not many platforms that support the UST/USDT trading pair.

If you are looking to buy UST to send to your Terra Station wallet, your best bet would be to use Huobi since they do not charge any withdrawal fees via the Terra network!

Once you have done so, you can now deposit UST into the Anchor Protocol to start earning a high interest rate!

Are you passionate about personal finance and want to earn some flexible income?